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• ‘Grid levy’ to witness multiple hikes till Aug 2026 amid bid to discourage use of natural gas• Insiders say Fund unhappy with Discos’ privatisation timeline; agri tax also on its agenda ISLAMABAD: In a major retreat, the government had to immediately notify an increase in gas rates for industrial captive power plants (CPPs) by about 23pc and scale down temptation for a substantial cut in power rates to get the policy negotiations going with a visiting staff mission of the International Monetary Fund (IMF) for disbursement about $1.1bn in a couple of weeks. A top official engaged in the…
The US dollar fell in European trade on Tuesday against a basket of major rivals, sharpening the decline for the seventh straight session and plumbing five-month lows amid concerns about US recession. Conversely, the euro continues to shine and attract investments, hitting four-month highs on hopes for massive new German stimulus plans. The US labor sector also weakened unexpectedly last month, bolstering the odds of a Fed rate cut in the first half of the year. The Index The dollar index fell 0..5% to 103.33, the lowest since October 2024, with a session-high at 103.92. …
The US dollar fell in European trade on Tuesday against a basket of major rivals, sharpening the decline for the seventh straight session and plumbing five-month lows amid concerns about US recession. Conversely, the euro continues to shine and attract investments, hitting four-month highs on hopes for massive new German stimulus plans. The US labor sector also weakened unexpectedly last month, bolstering the odds of a Fed rate cut in the first half of the year. The Index The dollar index fell 0..5% to 103.33, the lowest since October 2024, with a session-high at 103.92. …
KARACHI: Pakistan car sales in Pakistan clocked in at 12,084 units in Feb 2025, reflecting a 24 percent YoY while a 29 percent MoM fall, the Pakistan Automotive Manufacturers Association (PAMA) reported. With current increase, overall sales in first eight months of this fiscal year (8MFY25) climbed to 89,770 units a 50 percent YoY rise from 59,700 units in same period of last fiscal year (FY24). The YoY rise in car sales is driven by lowered interest rates, improved consumer confidence, and the introduction of newer variants and models. According to Topline, MoM decrease is primarily due to the high…
LAHORE: Sindh has outperformed Punjab in per-acre cotton yield during the 2024 season, while Punjab has faced a sharp decline in overall production. In an exclusive interview with Business Recorder, Sajid Mahmood, Head of Technology Transfer at the Central Cotton Research Institute (CCRI), Multan, revealed that Sindh has outperformed Punjab in per-acre cotton yield during the 2024 season, while Punjab has faced a sharp decline in overall production. As per the Pakistan Cotton Ginners Association (PCGA) report, the total cotton arrivals at factories in 2024 stood at 5,524,593 bales, reflecting a 34.17% decrease compared to 8,393,090 bales in the previous…
Dubai has retained its position as the world’s leading destination for greenfield foreign direct investment (FDI) projects for the fourth successive year, according to a statement issued by the Government of Dubai Media Office, citing Financial Times Ltd.’s ‘fDi Markets’ data. In 2024, Dubai attracted AED52.3 billion ($14.24 billion) in estimated FDI capital, a 33.2 percent increase from AED39.26 billion ($10.69 billion) in 2023, marking the highest FDI value ever recorded in a single year for the emirate since 2020. It attracted a record 1,117 greenfield FDI projects in 2024 — the highest in its history — followed by Sharjah…
During his first term in office, US President Donald Trump decried the utility of bitcoin and other cryptocurrencies, saying their value was based on “thin air”.But since his campaign for a second term – which put him back in the White House in January – he has taken on a decidedly different tone.Trump gathered CEOs and investors for a first-ever White House summit dedicated to digital assets on Friday, where he stated the country would be the “crypto capital of the world”.The shift began to take shape during Trump’s 2024 presidential campaign, when he said the US must embrace cryptocurrency…
A person browses a grocery store following the announcement of tariffs on Canadian and Mexican goods by U.S. President Donald Trump, in Toronto, Ontario, Canada, on March 4, 2025.Arlyn Mcadorey | ReutersWith concerns running high that President Donald Trump’s tariff policies will aggravate inflation, a report Wednesday could deliver some mildly encouraging news.The consumer price index for February is forecast to show an increase of 0.3% for a broad array of goods and services across the largest economy in the world. That projection holds both for the all-items measure and the core index that excludes volatile food and energy prices.On…
The US dollar fell in European trade on Tuesday against a basket of major rivals, sharpening the decline for the seventh straight session and plumbing five-month lows amid concerns about US recession. Conversely, the euro continues to shine and attract investments, hitting four-month highs on hopes for massive new German stimulus plans. The US labor sector also weakened unexpectedly last month, bolstering the odds of a Fed rate cut in the first half of the year. The Index The dollar index fell 0..5% to 103.33, the lowest since October 2024, with a session-high at 103.92. …
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves: Stocks, especially tech names, were coming off their lows of Tuesday’s session, with the Nasdaq reversing and moving higher. Tuesday’s market action follows an ugly Monday. While broadly lower earlier, Tuesday was marked by a counter-trend from recent ones with several oversold technology stocks with limited tariff risk finally bouncing and overbought defensives in health care and staples selling off. We were concerned that the rallies in Abbott Laboratories…