Business
Pakistan: Car sales surged by 137.9pc in June
Islamabad, July 14, 2024: According to data released by the Pakistan Automobile Manufacturing Association (PAMA), car sales in Pakistan saw a significant increase of 137.91% in June 2024 compared to the corresponding month of the previous year (2022-23). In June 2024, car sales rose to 10,128 units from 4,257 units sold in June of the…
Pepsi revenue falls short amid slowing sales
On Thursday, PepsiCo missed expectations for second-quarter revenue as a series of price hikes and competition from private-label brands slowed sales of its snacks and soda, particularly in the United States, its largest market. Analysts have noted that product prices, which are beginning to normalize after nearly two years of multiple hikes, remain higher than…
Gold prices surge in domestic, international markets
Karachi, July 12, 2024: Gold prices in Pakistan increased for the third consecutive session on Friday, driven by a rise in international markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price per tola of gold surged by Rs2,200, reaching Rs249,000. The price of 10-gram gold rose by Rs1,886, bringing it to…
Indus motor company shuts down plant
Indus Motor Company (IMC) has announced a seven-day shutdown of its plant due to low inventory and a shortage of components. In a notice to the Pakistan Stock Exchange (PSX) on Friday, the company stated, “Due to current low inventory levels of manufactured vehicles and a shortage of parts and components caused by supply chain…
Pakistani rupee strengthens against US dollar
Islamabad, July 12, 2024: On Friday, the exchange rate of the Pakistani Rupee appreciated by 20 paisa against the US Dollar in interbank trading, closing at Rs 278.40 compared to the previous day’s Rs 278.60. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the US Dollar in the open…