Istanbul (AFP): In an effort to combat double-digit inflation, Turkey’s central bank reduced its main interest rate on Thursday for the first time in over two years. Citing improvements in “inflation expectations and pricing behavior,” the bank’s monetary policy committee voted to lower the target rate from 50% to 47.5%.Continue Reading
LAHORE Inflation has gotten out of control, with prices for a variety of crops, including onions and tomatoes, rising dramatically. According to the market committee’s statistics report, the price of onions has increased by 10 rupees per kilogram, bringing the official rate to 120 rupees per kilogram. Onions can costContinue Reading
NEW YORK: Wednesday saw a general increase in Asian stocks as a result of the Bank of Japan’s decision to hike its benchmark interest rate. Later in the day, the Federal Reserve and Bank of England were expected to make policy decisions. The move by the central bank to raiseContinue Reading
ISLAMABAD – The federal government announced on Wednesday a considerable fall in petroleum prices for the first two weeks of August 2024. According to a statement released by the Ministry of Finance, prices were decreased after Prime Minister Shehbaz Sharif approved them. The revised prices will go into effect onContinue Reading
ISLAMABAD – Prime Minister Shehbaz Sharif has asked power distribution firms to extend the payment deadline for electricity bills by ten days. According to a statement from the Power Division, the due date for paying power bills in July and August 2024 will be extended by ten days. According toContinue Reading
(Web Desk) – McDonald’s announced an unexpected drop in global sales on Monday, its first decline in 13 quarters, as bargain-hunting customers avoid higher-priced menu items such as Big Macs. Persistent inflation has compelled lower-income consumers to seek for more cheap food options at home. As a result, fast foodContinue Reading
(Reuters) – Philips posted second-quarter results that above analysts’ forecasts on Monday, driven by cost savings from job cutbacks and insurance income related to Respironics product liability claims, pushing company shares up more than 7% in early trading. The Dutch medical device maker’s earnings before interest, tax, and amortization (EBITA)Continue Reading
The major changes concerning imported coal-fired power facilities were revealed during the recent visit to China by Energy Minister Owais Leghari and Finance Minister Muhammad Aurangzeb. Sources claim that China has approved the conversion of three power stations that now run on imported coal to local coal. Given thatContinue Reading
(Reuters) – By 2030, Russia hopes to have the four main modules of its new orbiting space station built, the country’s space agency Roscosmos said on Tuesday. The directors of 19 businesses engaged in building the new station, together with Roscosmos chief Yuri Borisov, approved the schedule. The organisation reaffirmedContinue Reading
Lahore – The government on Sunday raised the price of petrol by Rs7.45 per litre and that of high-speed diesel (HSD) by Rs9.56 per litre for the next two weeks. The petitioner, Azhar Siddique of the Judicial Activism Panel, argued that while POL prices had significantly decreased in the internationalContinue Reading
