Browsing: Business

Gold prices in Pakistan fell by 4100 rupees per tola to 190,500 rupees, accompanied by a 72 paisa depreciation in the US dollar, signaling market volatility influenced by economic factors.

InDrive’s landmark collaboration with Vlektra introduces electric bikes to Pakistan’s ride-hailing, pioneering a sustainable shift and combatting pollution. This strategic partnership not only marks a milestone but also includes an initiative rewarding top drivers with free EV bikes, fostering awareness and eco-conscious transportation.

The Pakistan Stock Exchange (PSX) broke records, soaring to an all-time high of 62,688 points, fueled by a 1.62% surge within the first hours of trade. The market’s strong momentum saw significant activity, with 275 million shares worth Rs. 13.1 billion changing hands.

Pakistan experienced a robust 40.36% boost in exports to China, totaling $952.216 million in the initial four months of fiscal year 2023-24, as imports from China saw a 10.74% decline. In October 2023 alone, exports to China surged by 12.63%, underlining a strengthening economic relationship between the two nations.

Pakistan’s trade deficit has shown a robust improvement of 33.59% in the first five months of the fiscal year (5MFY24), shrinking to $9.378 billion, driven by increased exports (1.93%) and a significant decrease in imports (17.32%). This positive trend reflects the country’s efforts to enhance economic stability through a narrowed trade deficit.

Chinese electric bike manufacturer TAILG is teaming up with Hi-Speed Motorcycles to bring eco-friendly electric bikes to Pakistan, aiming to transform the two-wheel industry and reduce travel costs. Hi-Speed Motorcycles has started teasing the imminent launch of TAILG’s electric bikes, promising an ultimate eco-friendly journey for Pakistani consumers.

Nestlé Pakistan has donated PKR 5 million to back SOS Children’s Village, showcasing its commitment to orphaned children’s welfare. This reflects Nestlé’s ongoing dedication to community development and social responsibility in Pakistan through its Creating Shared Value philosophy.

Pakistan and China concluded their fourth maritime dialogue, pledging to enhance cooperation in naval exchanges, regional collaboration, and addressing emerging challenges for a peaceful Asia-Pacific. The nations reaffirmed their commitment to strengthening their enduring friendship and strategic partnership.

The Pakistani rupee saw its third consecutive day of improvement against the US Dollar, closing at 285.17. Additionally, Pakistan and Kuwait signed seven agreements to attract significant investments, spanning crucial sectors like agriculture, power, water supplies, mining, technology zones, and mangrove preservation.

InfraZamin Pakistan and Kashf Foundation’s successful closure of South Asia’s first ‘Gender Bond,’ raising Rs. 2.5 billion, marks a significant stride in empowering 30,000 women from low-income backgrounds for entrepreneurial pursuits and micro-infrastructure development, contributing to Pakistan’s economic growth.