The State Bank of Pakistan (SBP) said on Friday its Go Cashless campaign for Eidul Azha 2026 stood successful as more than 480,000 transactions valuing over Rs34 billion had been conducted using digital channels and instruments. The central bank said there was a significant increase in both the volume and value of digital transactions. “Compared […]
Business
Short-term inflation down by 0.56%
The Sensitive Price Indicator (SPI)-based weekly inflation decreased by 0.56 percent during the week ended on June 4, 2026 for the combined consumption group, the Pakistan Bureau of Statistics (PBS) reported on Friday. According to the PBS data, SPI for the week under review declined to 355.55 points as compared to 357.54 points recorded in […]
Saudi-Pak Business Council shows interest in infrastructure investment
Chairman of the Saudi-Pak Business Council, Prince Mansour Bin Muhammad Al Saud, on Friday expressed keen interest in exploring investment opportunities in Pakistan’s motorway infrastructure during a high-level meeting with Federal Minister for Communications Abdul Aleem Khan. The meeting discussed matters of mutual interest and the strategic promotion of bilateral relations including investment in Motorways […]
‘Govt, allies united in efforts to craft people-centric budget’
Federal Parliamentary Secretary for Information and Broadcasting, Barrister Danyal Chaudhry Friday said that the government was in close coordination with all allied parties on budget-related matters, assuring that their serious concerns and demands would be given due consideration and addressed on a priority basis. While speaking in an exclusive conversation with a local media outlet, […]
Rupee records gain against US dollar
The Pakistani rupee appreciated against the US dollar in the inter-bank market on Friday. At close, the local currency settled at 278.41, a gain of Re0.01 against the greenback. On Thursday, the local unit closed at 278.42. Globally, the US dollar is on track for a weekly gain as Gulf tensions fuel safe-haven flows.
Gold prices decline by Rs 1,469 per tola
The prices of gold decreased in the local market on Friday, with 24 karat gold per tola falling by Rs 1,469 to settle at Rs 467,816 compared to Rs 469,285 on the previous trading day, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association. Similarly, the price of 10 grams of […]
Oil price little changed on uncertainty over US-Iran peace deal
Oil prices rose on Friday, paring sharp losses from the previous session, after Hezbollah rejected a new Lebanon ceasefire proposal and Oman’s Mina al Fahal terminal suspended oil loadings following an explosion. Brent crude futures rose 33 cents, or 0.35%, to $95.36 a barrel by 0408 GMT after settling down 2.84% in the previous session. […]
PSX loses over 696 points
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) turned bearish on Friday, losing 696.57 points, a negative change of 0.41 percent, closing at 170,478.94 points against 171,175.51 points on the last trading day. During the session, the ready market recorded a trading volume of 727.166 million shares with a traded value of Rs […]
Telenor considering sale of Pakistan’s Easypaisa: report
Telenor, the Norwegian telecom giant, is exploring a sale of its controlling stake in Pakistan’s Easypaisa Bank, Bloomberg reported on Friday, citing people familiar with the matter. As per the report, the potential sale would mark the telecom’s complete exit from Pakistan. Last year, Telenor finalised the sale of Telenor Pakistan to the PTCL Group […]
SBP reserves climb to $17.19 billion
Pakistan’s foreign exchange reserves held by the State Bank of Pakistan rose to $17.19 billion during the week ending May 29. The increase of $43 million signals a modest improvement in the country’s external financial position. Economists, investors, and policymakers closely track reserve levels as a measure of financial stability. According to data released by […]