Page 17 - Alpha Beta Core News Today

Rupee loses ground, closes at 154.5 Currency has dropped Rs1.75 in past two weeks in inter-bank market Alpha Beta Core CEO Khurram Schehzad said the new regulations would improve the rupee-dollar parity. PHOTO: FILE KARACHI: Pakistani currency touched one-month low at Rs154.5 against the US dollar in the inter-bank market on Tuesday in the wake of decisions taken by the federal and provincial governments to impose stricter restrictions to contain the spread of third wave of Covid-19. The incre...

World Bank sets tough loan terms Finance ministry seeks three budget support loans totalling $1.5b before end of June Alpha Beta Core CEO Khurram Schehzad said the new regulations would improve the rupee-dollar parity. PHOTO: FILE ISLAMABAD: The World Bank has set tough conditions for $1.5 billion lending such as increase in electricity rates, introduction of new power and tax policies, putting the government in a tight spot that is already seeking a review of the International Monetary Fund ...

Pakistani Rupee traded at nearly one year low at the interbank currency market today, at Rs. 157.85 against the US Dollar. The previous all-time low was

‘Margin trading and deliverable contracts were typical instruments of pump-and-dump’

The rupee strengthened against the US dollar at Rs158.46 in the inter-bank market

Rising global oil prices to fuel local troubles Uptrend may increase inflation, import bill and widen fiscal deficit in economy Informal talks between ministers are set to take place on Saturday. PHOTO: REUTERS KARACHI: The international oil prices are rapidly rising in global markets. The uptrend in the global commodity is likely to give birth to new challenges in the domestic economy including increase in inflation, surge in import bill and widen fiscal deficit. The international benchmark c...

Fauji Foods Records a 47.23% Drop in Losses During 2020 Fauji Foods Limited (FFL), the company behind Nurpur milk and Dostea, has announced its financial results for the year ended 31st December 2020. Fauji Foods has posted a loss of Rs. 3.05 billion during 2020, representing a 47.23% decrease as compared to 2019. The company had reported a loss of Rs. 5.78 billion in 2019. The company managed to regain some of its lost market share by registering a revenue growth of 28.4% in 2020 compared to 2...

Paradox of celebrating surpluses, regretting deficits Business December 27, 2020 Current account surpluses/deficits are not an end/achievement in themselves. Rather, they are means to an end. In absolute sense, having surplus is indeed excellent. But, the problem starts when we think having such surpluses is some ultimate achievement in itself, and that the economy has been completely turned around. Unfortunately, this is not the correct way of looking. For instance, we regret deficits while ...

Roshan Digital Accounts Receive Another $100 Million in Just 28 Days Prime Minister Imran Khan took to Twitter to thank the overseas Pakistanis for their notable contributions to the Roshan Digital Account (RDA) as the deposit amount into the accounts crossed $200 million. The PM wrote, “I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through Roshan Digital Accounts created by SBP crossed $200 million yesterday. The pace is accelerating: first $100 million ...