【Daily】31 Aug Brief of Pak BizNews
KSE 100 42,195 ▼0.73%
KMI 30 69,846 ▼0.63%
KASB Tech Index 431 ▼0.57%
KASB Market View
First half of Sept: Cut in oil prices expected
An estimated up to Rs20 per litre reduction in the prices of major petroleum products (petrol and high-speed diesel) is expected in the first half of September 2022, sources in the Petroleum Division said.
UN chief launches $160m appeal to assist the flood-hit
The UN on Tuesday launched a $160 million appeal to provide emergency assistance to those affected by catastrophic floods in Pakistan.
Toyota, Millat shut plants
The auto sector crisis deepened as Indus Motor Company (IMC) and Millat Tractor Ltd (MTL) on Tuesday announced production shutdowns due to parts shortages and delivery disruptions due to flood devastation across the country.
FBL to fully transform into an Islamic bank early next year: official
Faysal Bank Limited (FBL) will convert itself into a full-fledged Shariah-compliant lender in January 2023, going to be the largest bank in the world ever to achieve Islamic conversion, an official said on Tuesday.
Onions, tomatoes to be imported from Iran, Afghanistan
The Ministry of Commerce on Tuesday decided to import onions and tomatoes from Afghanistan and Iran to control soaring prices in the country.
Dollar bonds’ yields rebound on IMF deal
Yields on Pakistan’s dollar-denominated sovereign bonds rallied on Tuesday as the country managed to dodge a default on its foreign debt repayments following the resumption of the International Monetary Fund bailout package.
Thar coal power plants to hit 2,000MW target in 2023
Shanghai Electric’s Thar Coal Power Plant is set to start injecting electricity into the system, the country's top energy executive said on Tuesday, while coal-fired projects' generation is seen hitting 2,000MW this year.
Electricity bills: LHC strikes down fuel adjustment charges
The Lahore High Court (LHC), Rawalpindi Circuit bench on Tuesday quashed fuel adjustment charges from the electricity bills.
Oil slides more than $7 on inflation and Iraq exports
Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation's crude exports.
Commodities and Currency: 1-Day Change