Remittances jump 29% YoY in Sept on exchange rate stability
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016.— Reuters Remittances sent home by overseas workers jumped 29% year-on-year (YoY) to $2.849 billion in September from $2.208 billion in the same month last year, latest numbers released by the State Bank of Pakistan (SBP) showed on […]
Solar panel prices jump ahead of budget | The Express Tribune
KARACHI: Prior to the unveiling of the 2024-2025 budget in Pakistan, there has been a noticeable surge in solar panel prices, attributed to traders adjusting their rates in anticipation of upcoming tax changes. According to reports, the government, aligning with IMF conditions amid bailout negotiations, is reportedly considering imposing additional taxes on solar panels. This […]
Pakistan’s IT exports jump 62% to $310 million in April
A representational image of a man using a mobile phone. —Pixabay/File Pakistan’s IT export remittances jumped to a record $310 million in April 2024 from $191 million in the same month last year, sercuring a 62.3% year-on-year (YoY) surge, official data showed on Monday. The significant increase underscores the rapid growth of Pakistan’s ICT sector, […]
Exports to China jump 44.53% in 7 months | The Express Tribune
ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 44.53% during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) reported. The data revealed that overall exports to China were recorded at […]
Bitcoin surpasses $41,000 mark – a record jump since April 2022
A visual representation of the digital cryptocurrency Bitcoin. — AFP Financial markets saw a crazy ride on Monday. Gold made a dramatic swing after hitting a record high above $2,100 per ounce, while stocks and bonds fell. In contrast, Bitcoin held its ground in the realm of digital assets, surpassing $41,000 for the first time […]
Pakistan’s exports to China jump over 5% in first two months of FY24: SBP
A representational image of containers. — AFP/File Pakistan’s exports to China witnessed an increase of 5.16% during the first two months of the current fiscal year 2023-24 as compared to the exports of the corresponding period of last year, according to the latest data shared by the State Bank of Pakistan (SBP) on Friday. According […]
Circular debt forecast to jump by Rs545b | The Express Tribune
ISLAMABAD: The circular debt is projected to increase by another Rs545 billion by March next year despite a surge in electricity prices as foreign loans pegged with the so-called power sector reforms are limited to only increasing prices and ignore other critical issues. Pakistan eyes another loan of $600 million from the World Bank for […]
Gold, silver jump to new all-time high
A salesperson displays gold jewellery at a store in this undated file photo. — AFP As the country continues to go through one of its worst economic crises and inflation surged to unprecedented levels, people flocked to buy gold, propelling the precious metal’s value to a new all-time high. The price of gold (24 carats) […]
Essential goods’ prices jump 20% | The Express Tribune
ISLAMABAD: The average inflation for 51 essential goods, mostly used by low and middle-income groups, jumped above 20% during the latest week over a year ago amid serious contradictions in the official data used to calculate the price growth. The year-on-year Sensitive Price Indicator (SPI) increased to 20.04% during the week ended June 2, over […]
Iraq oil exports jump to 50 year high value | The Express Tribune
BAGHDAD: Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia’s invasion of Ukraine, the oil ministry said. The second largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues of $11.07 billion, the […]