Listen to article Gold prices remained near record highs on Friday, poised for a monthly gain amid US rate-cut expectations and geopolitical uncertainty. Spot gold was up 0.1% at $2,523.59 per ounce, close to the August 20 peak of $2,531.60. It has risen over 3% this month. US gold futures slipped 0.1% to $2,556.70. In the Middle East, ceasefire … Read more
JI Naib Emir Liaqat Baloch (centre-left) addresses the press conference in Islamabad on August 26, 2024. — Facebook/@JIPOfficial1 JI to continue struggle to get relief for nation: Liaqat Baloch. Says one-month deadline was set to review contracts with IPPs. “Any attempt to stop strike to push country into anarchy.” The Jamaat-e-Islami (JI) Naib Emir Liaqat … Read more
Short-term inflation in Pakistan eased by 0.10% to the 27-month low of 16.69% for the week ended on August 22, 2024, compared to the same week of the previous year. According to data released by the Pakistan Bureau of Statistics (PBS), a downturn in the weekly inflation was mainly driven by declining prices of tomatoes … Read more
KARACHI: The weekly inflation gauge, displayed by the Sensitive Price Indicator (SPI), decelerated to a 27-month low and settled at 16.86% in the week ended August 15, 2024 compared to the same week of last year. The inflation rate is the lowest since May 19, 2022. It, however, still remains elevated in double digits, signaling … Read more
Jamaat-e-Islami Pakistan (JI) chief Hafiz Naeemur Rehman has announced a nationwide shutter-down strike on August 28 to protest against high electricity bills and inflation. Addressing a rally organised by JI in Multan on Friday, Hafiz Naeem criticised all political parties for burdening the public with exorbitant electricity bills. “These bills have left the people in … Read more
A cut in petroleum prices pushed the short-term inflationary trend downwards for the week the week ended August 15, 2024, according to the latest data released by the Pakistan Bureau of Statistics (PBS). The Sensitive Price Indicator (SPI) depicted a decrease of 0.16% WoW, while an increase of 16.86% compared to the corresponding week of … Read more
The finance ministry has projected that the fiscal deficit could soar to Rs9.655 trillion in the upcoming fiscal year, while it has projected a boost in economic growth and a significant reduction in inflation. According to the ministry’s medium-term macroeconomic framework, the Gross Domestic Product (GDP) is expected to grow by 4.8% during this period, … Read more
Asian markets mostly rose Monday as investors tried to move on from last week’s upheaval fuelled by US recession worries, with the focus shifting to the release of key inflation and retail data. After a painful collapse fuelled by a big miss on US jobs creation, equities managed to bounce back over the following days … Read more
KARACHI: The Sensitive Price Indicator (SPI), a weekly inflation gauge, rose 0.30% week-on-week in the wake of a hike in food prices, reversing the deceleration seen in the prior week. According to the Pakistan Bureau of Statistics (PBS), the rate of inflation increased 17.96% in the week ended August 8, 2024 compared to the same … Read more
The student protests that forced Bangladesh Prime Minister Sheikh Hasina to quit and flee the country were also fuelled by tough economic conditions in what was once the world’s fastest-growing economy. Under Hasina, Bangladesh has in recent years seen a sharp widening of its current account deficit, depreciation of the taka currency, and a decline … Read more