Business News

US dollar hits all-time high at Rs144 intraday in interbank market

  • Sudden devaluation of local currency against the US dollar was witnessed in interbank trading on Friday morning as the greenback hit an all-time high of Rs144 during intraday trading. Sources told that the sudden rise of Rs10 in the value of the US dollar is based on the government’s commitments to the International Monitory Fund […]

  • No gas load shedding during winter, decides ECC

    The Economic Coordination Committee (ECC) decided during a meeting on Tuesday that there will be no gas load shedding in winter, reported. It was also decided that 150-200 mmcfd of regasified liquefied natural gas (RLNG) will be injected in the system to overcome the gas shortage. Gas load shedding, especially in Punjab and Balochistan, accompanies […]

  • Google hit with record 4.34 bn euro fine over ‘illegal’ Android strategy: EU

    Brussels, July 18 (AFP/APP):The EU said Wednesday it had slapped a record 4.34-billion-euro ($5.04 billion) antitrust fine on Google for illegally using its Android operating system to strengthen the dominance of its search engine. “Google has used Android as a vehicle to cement the dominance of its search engine,” EU Competition Commissioner Margrethe Vestager said […]

  • KPT ships movement, cargo handling report

    KARACHI, Jul 18 (APP):Following were the movements of ships and cargo handling at the Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours on Wednesday. SHIPS ARRIVED: Aries Leader CAR Carrier Devon Trader Container OOCL Shanghai Container Serengeti Tanker Kota Kamil Container SHIPS SAILED: Mohar Xin Xia Men Aries Leader Muscat […]

  • Stock markets rise on US confidence boost

    London, July 18 (AFP/APP):Stock markets largely rose on Wednesday, tracking an overnight Wall Street rally after the Federal Reserve chief expressed confidence in the US economy despite global trade war fears. In foreign exchange, the pound slid to a 2018 low at $1.3010 on slightly receding prospects of a UK interest-rate hike next month after […]

  • PMEX index closes at 3,567 points

    KARACHI, Jul 18 (APP):Pakistan Mercantile Exchange Limited’s commodity index on Tuesday closed at 3,567 points; with traded value of metals, energy and COTS/FX recorded at Rs 8.770 billion. The number of lots traded was 9,384, said press release on Wednesday. (The data is compiled and released after 24 hours.) Major business was contributed by WTI […]