Pakistan has formally asked for a $1 billion oil facility from the Kingdom of Saudi Arabia (KSA) on a deferred payment basis for the calendar year 2024.The cash-strapped nation is seeking the facility from January 2024 onward. Saudi Arabia has yet to c…

Fauji Fertilizer Bin Qasim (PSX: FFBL) announced its 3QCY23 financial result today, where it recorded its highest-ever unconsolidated quarterly profit of Rs. 5.3 billion versus a loss of Rs. 1.7 billion reported in the same period last year.This takes …

Cotton market prices have finally started to recover after weeks of downward turn as the quality issues remain a critical issue in local procurement.Karachi Cotton Association today raised the spot prices by Rs. 300 per maund, posting a first increase…

Prime Minister Anwaar ul Haq Kakar has expressed the confidence that Chinese private entities will make investments in second phase of China Pakistan Economic Corridor project, with a focus on relocating industries and fostering cooperation in the agri…

The financial woes of the national flag carrier continue to take a toll on passengers as more flights were cancelled on Sunday due to unavailability of fuel.According to a report by a local media outlet, 26 flights of Pakistan International Airlines (…

In anticipation of a visit by an American delegation to evaluate the implementation of turtle excluder devices (TEDs) in shrimp-catching nets, stakeholders and fisheries departments in Pakistan are looking to address a persistent issue that led to the…

The Pakistan International Airlines’ (PIA) flight operations are back to its normal schedule after it secured funds for fuel purchase, claimed the national flag carrier’s spokesperson.Yesterday, the national flag carrier operated 52 flights on differe…

A Chinese company Amer International has expressed deep interest in investing in copper and steel industry in Pakistan.Chairman Amer International Wang Wenyin conveyed this interest during a meeting with Prime Minister Anwaar-ul-Haq Kakar in Beijing t…

The Pakistani rupee reversed losses against the US Dollar and posted big gains today after opening trade at 279 in the interbank market.At 11:30 PM, it was bearish, treading the 276 level against the greenback after losing ~Rs. 3.Later, the interbank r…

The cut-off yields on Treasury Bills (T-Bills) went down by up to 45 basis points (bps) in the auction of the paper held on Wednesday.According to the data released by the State Bank of Pakistan (SBP), the government raised Rs. 1,092 billion against a …