Business

Gold price sheds Rs800, traded at Rs87,100/tola

F.P. Report ISLAMABAD: The price of 24 karat gold shed by Rs800 and was traded at Rs 87,100 per tola as compared to the last closing at Rs 87,900 Karachi Sarafa Association reported on Friday. The price of 10 gram gold also witnessed decrease of Rs686 and was traded at Rs 74,674 against Rs 75,360…

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Pak-Oman talks on aviation sector held

F.P. Report KARACHI: With the view to further explore avenues of mutual cooperation in the aviation industry, the delegations representing the Aeronautical Authorities of Pakistan and Oman met on the request of Pakistan in pursuance of the vision of the government of Pakistan. The Pakistan delegation was led by the Senior Joint Secretary Aviation Division…

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PSX sheds 534 points to close at 31,350.02 points

F.P. Report ISLAMABAD: The Pakistan Stock Exchange (PSX) on Friday noted bearish trend as KSE 100 index plunged by 534.43 points (1.68 percent) to close at 31,350.02 points. A total of 230,725,160 shares were traded, whereas the value of shares traded during the day stood at Rs 7.221 billion. Out of 358 companies, share prices…

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Sanofi & Sehat Kahani to improve diabetes care

F.P. Report KARACHI: Sanofi Pakistan announced its collaboration with Sehat Kahani for elevating the standards of diabetes care among the underserved communities in Pakistan. At an MoU signing ceremony, both organizations pledged to implement a robust nationwide program through the 25 e-Hubs (clinics) managed by virtual doctors and qualified nurses of Sehat Kahani. The Sanofi…

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Pakistani rupee records slight gain against dollar

F.P. Report KARACHI: Pakistani rupee gained a mere Rs0.71 against the US dollar on Friday in the interbank, trading at Rs157.52 as opposed to the previous closing of Rs158.23, as per State Bank of Pakistan’s (SBP) data. However, according to Forex Association of Pakistan, the buying and selling rates of dollar in open market were…

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Rupee gains 73 paisa against US Dollar

F.P. Report KARACHI: The Pakistani rupee gained 73 paisa against the US dollar on Friday in the interbank market and traded at Rs157.50. According to details, the dip in the US dollar has reduced the debt burden by Rs 600 billion. It is worth mentioning here that the US dollar had reached all-time high of…

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China says hopes US stops wrong tariff action

Monitoring Desk BEIJING: China said on Thursday it hopes the United States will stop its wrong tariff action, adding that any new tariffs would lead to escalation. The United States said early this month it would slap duties on $300 billion of Chinese goods from Sept. 1, which would effectively extend its tariffs to all…

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ADIB UK provides Dh120m acquisition funding

ABU DHABI (Agencies): Abu Dhabi Islamic Bank (ADIB) UK, has provided financing for The Bank of London and the Middle East to acquire a Dh120 million Grade A office building in Edinburgh, leased to Centrica as their corporate headquarters in Scotland until 2035. The award-winning building, which forms part of the Edinburgh Waterfront regeneration area,…

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US jobless claims fall in sign of labor market strength

Monitoring Desk WASHINGTON: The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 209,000 for the week ended Aug.…

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Textile exports increase 3 per cent in July: SBP

F.P. Report ISLAMABAD: The exports of textile group from the country witnessed increase of 3.12 percent during the first month of current financial year as compared to the exports of the corresponding month of last year, State Bank of Pakistan (SBP) reported. During the month of July, 2019 textile products worth $1226.565 million exported as…

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