The Asian Development Bank (ADB) on Friday approved $1.5 billion in financing to help the government provide “social protection, promote food security and support employment” amid catastrophic flooding and global supply chain disruptions. According to the statement issued by the ADB, the loan has been provided under the bank’s Building Resilience with Active Countercyclical Expenditures (BRACE)
The Pakistan Stock Exchange (PSX) recorded a slight decline in the outgoing week on the back of profit-taking and thin investor participation, which dragged the KSE-100 index below the 42,000-point mark. The index shed 137 points to settle at 41,949 at the end of the week. Earlier, trading commenced on a positive note on Monday as the State Bank of Pakistan (SBP) maintained the status quo in
Europe’s energy crisis has cooled efforts to lower the carbon intensity of liquefied natural gas (LNG) shipments, as buyers worried about a winter supply crunch prioritise securing shipments of any kind over burnishing their green credentials. Natural gas can be certified as low- or no-carbon if its producers can prove they have reduced greenhouse gas emissions associated with getting it to mar
Pakistani currency continued its slide for the fifth successive working day as it dropped by 0.37% (or Rs0.82) to close at Rs219.71 against the US dollar in the interbank market on Tuesday. The domestic currency had closed at Rs218.89 against the greenback on Monday, according to the State Bank of Pakistan (SBP). With the latest decrease, the currency has cumulatively depreciated by 0.88% (o
Pakistan’s big manufacturing industries including readymade garments, fertiliser and iron and steel have surprisingly turned around as their output grew 3.9% in August compared to July, ending a four-month downtrend. Goods production by large industries, however, showed a small recovery of 0.6% in August when compared with the same month of last year. It came at a time when a number of industri