Category: bussines

KARACHI: Pakistan’s foreign exchange reserves recorded a modest weekly increase, with the State Bank of Pakistan’s (SBP) holdings rising by $16 million to $16.0877 billion in the week ending January 16, 2026, according to official data released on Thursday. The improvement lifted the country’s total liquid foreign reserves, which combine central bank buffers and commercial bank holdings, to $21.2582 billion. Of this, $16.0877 billion is held by the SBP, while commercial banks hold net foreign reserves of $5.1705 billion. Meanwhile, after nearly four years of double-digit returns in Pakistan’s fixed-income…

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Prices of gold and silver surged to record levels in both international and local markets on Friday. In the global bullion market, the price of gold rose sharply by $91 per ounce, reaching a new high of $4,923 per ounce. In the domestic market, the price of gold per tola increased by Rs9,100 to a record Rs514,662, while the price per 10 grams rose by Rs7,802 to Rs441,239. Silver also saw significant gains, with the price per tola climbing Rs372 to Rs10,275, and the price per 10 grams rising from…

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KARACHI: The Asian Development Bank (ADB) has identified that Pakistan’s push to modernise public services through artificial intelligence is confronting deep structural barriers, as fragmented data systems, weak inter-agency coordination, low digital literacy and limited institutional capacity continue to constrain access to government services and tax administration, raising concerns that technology-driven reforms may outpace the state’s ability to implement them effectively. These challenges were identified by Farzana Noshab, Lead Economics Officer at the Public Sector Management and Governance Sector Office of the ADB Sectors Group, and Yuji Miyaki, Public Management…

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ISLAMABAD: The government has shelved a plan to outsource the management and operations of Islamabad International Airport to the United Arab Emirates (UAE) after Abu Dhabi lost interest in the process. The deadlock between the two countries emerged following repeated delays by the UAE in nominating an entity for the outsourcing of Islamabad International Airport. The government has now approved a proposal to include Islamabad International Airport in the active privatisation list following the recent successful privatisation of Pakistan International Airlines (PIA). Sources told The Express Tribune that despite initial…

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Intel (INTC.O) said on Thursday it struggled to satisfy demand for its server chips used in AI data centres, and forecast quarterly revenue and profit below market ​estimates, sending shares down 13% in after-hours trading. The forecast underscores the difficulties faced by Intel in predicting global chip markets, where the company’s current products are the result of decisions ‌made years ago. The company, whose shares have risen 40% in the past month, recently launched a long-awaited laptop chip designed to reclaim its lead in personal computers just as a memory chip crunch…

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ISLAMABAD: Oil and Gas Development Company Limited (OGDC), the operator of the Nashpa Exploration Licence, on Tuesday announced another oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in Kohat district of Khyber-Pakhtunkhwa(K-P). According to a statement issued by OGDC, the discovery was made in the Samana Suk and Shinawari formations. The well tested positive during a cased-hole drill stem test (CHDST-03), flowing 3,100 barrels of oil per day and 8.15 million standard cubic feet of gas per day through a 32/64-inch choke at a wellhead flowing…

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ISLAMABAD: The United Kingdom has indicated support of up to $400,000 to enhance capacity building of the Geological Survey of Pakistan (GSP). Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with British High Commissioner to Pakistan Jane Marriott to discuss enhanced bilateral cooperation in the oil and gas as well as minerals sectors. During the meeting, High Commissioner Jane Marriott remarked that the potential in Pakistan is tremendous and noted that significant reforms are underway in the economic realm. She expressed the United Kingdom’s keen interest in strengthening…

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KARACHI: Federal Minister for Commerce Jam Kamal Khan has said that rice exporters will receive support through the Export Development Fund (EDF) to help address pricing challenges in international markets. In an exclusive interview with The Express Tribune, Kamal Khan said that effective utilisation of the EDF could potentially generate $1-1.5 billion in foreign exchange for the country. He noted that Pakistani rice is currently priced higher in the global market, which is creating difficulties for exporters. According to the minister, Indian Basmati rice is being exported at around Rs1,000…

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ISLAMABAD: Pakistan and the Islamic Development Bank (IsDB) on Tuesday signed three loan agreements worth about $603 million to finance the M-6 Sukkur-Hyderabad Motorway, Poverty Graduation of Extremely Poor and Flood-Affected Households (PGEP) project and Out-of-School Children project for Azad Jammu and Kashmir. The agreements were formalised following high-level talks between Minister for Economic Affairs Ahad Khan Cheema and an IsDB delegation, led by Vice President Dr Rami Ahmad. The project agreements were officially signed by IsDB VP Dr Rami Ahmad and Economic Affairs Division Secretary Muhammad Humair Karim. Federal…

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