Kinnow exports projected to decline by 50% | The Express Tribune

KARACHI: The Kinnow industry is on the verge of collapse, with a projected 50% decline in exports and the closure of 50% of processing plants, warn leading exporters. Sharing a plethora of reasons with The Express Tribune, they highlight issues such as a shorter shelf life for Kinnow, lack of resistance to diseases, low-quality yield, […]

US home sales decline as prices rise, interest rates increase

A ‘For Sale’ sign is seen in front of a home on August 21, 2015 in Miami, Florida. — AFP Sales of US homes have been steadily declining since August as supply remained constrained and mortgage rates remained high, the industry figures released on Thursday revealed. Sales of existing homes have cooled in the world´s […]

Gold gains lustre after multi-session decline in Pakistan

A trader displays gold bangles at a jeweller shop in this undated photo. — AFP Gold prices broke a seven-session losing streak and the precious metal gained some value in Pakistan despite a decline in international prices. The per tola price of 24 karat gold increased by Rs5,600 and was sold at Rs215,000 today compared […]

Forex reserves decline by $541m | The Express Tribune

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) experienced a significant decline, dropping 6.2% on a week-on-week basis, as reported on Thursday. The reserves reached $8.2 billion on July 21, marking a decrease of $541 million compared to $8.73 billion on July 14, 2023. The central bank attributed this decline to […]

Textiles see decline while apparels boom | The Express Tribune

KARACHI: Pakistan’s textile industry has experienced a significant decline in production, particularly in the cotton yarn and cotton cloth segments, resulting in a worrisome overall decrease of 26% year-on-year. In contrast, the apparel sector has witnessed remarkable growth, with garments production increasing by 13% year-on-year in April 2023 and an impressive 26% year-on-year in the […]

Gold makes sharp decline as rupee shows recovery

An undated image of gold jewellery showcased in a jewellery store. — AFP/File KARACHI: Prices of gold in Pakistan took a massive decline on Monday by falling over Rs8,000 per tola as the rupee made a recovery against the dollar in the open market.  The price of gold (24 carats) decreased by Rs8,800 per tola […]

Auto sector shows signs of recovery amidst YoY decline | The Express Tribune

KARACHI: Pakistan witnessed a glimmer of hope in the auto sector as automobile sales in May 2023 recorded a month-on-month recovery of 19%. However, it is crucial to note that this improvement comes with a staggering year-on-year decline of 77%. The Pakistan Automotive Manufacturers Association (PAMA) report revealed that approximately 5.3 thousand units were sold […]

Gold registers minimal decline in Pakistan

A representational image of gold jewellery. — AFP/File KARACHI: Gold prices in Pakistan registered meagre losses on Monday despite the rupee’s depreciation against the dollar in the open market as well as the interbank market.  The price of gold (24 carats) decreased by Rs1,000 per tola and Rs857 per 10 grams to settle at Rs230,400 […]

Foreign exchange reserves decline to $4.09bn as Pakistan considers fresh IMF deal

$100 bills. — AFP/File Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased to $4.09 billion as the liquidity-challenged country mulls starting a fresh bailout programme with the International Monetary Fund (IMF) programme without completing the current one. In a statement, the SBP said its reserves have fallen $102 million as […]

Following two-day decline, gold rate up again in Pakistan

An undated image of a jewellery shop displaying gold jewellery. — AFP/File After falling by Rs1,700 for the last two days, the rate of gold rose again in Pakistan on Wednesday. The price of gold (24 carats) increased by Rs1,600 per tola and Rs1,372 per 10 grams to reach Rs234,400 and Rs200,960, respectively, according to […]

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