Business

Oil plunges 9% as the development revives fears of a 2014 price crash

PM’s aide urges business community to capitalise on this opportunity to diversify exports

Coronavirus spread has dimmed growth prospects and sent investors scurrying for safe-haven assets

Benchmark index decreases 1,162.44 points to close at 38,219.67

MSCI All-Country World Index, which tracks shares across 47 countries, was down 0.72%

Moscow will not back OPEC's call for extra reduction in oil production: source

Envoy hopes free trade pact between two sides will be finalised swiftly

Official asks businessmen to diversify export products

Liquid foreign currency reserves held by the country, including net reserves held by banks, stood at $18,869 million

Move aimed at giving relief to farmers

UNISAME says some important aspects have been omitted from policy draft

FBR admits system is malfunctioning and has been shut for past 20 days

It will offer one-tenth shares to international firm having expertise in sector

Airlines across the globe are rushing to cut flights and costs and warning of hit to earnings

Benchmark index increases 475.71 points to close at 39,382.11

Central bank cites no reason for increase in reserves

OPEC agreed to cut output by an extra 1.5m bpd in the second quarter of 2020

Saudi Arabia wants OPEC and allies to cut 1 million to 1.5 million bpd for second quarter

Inter-ministerial coordination will further be improved for a robust privatisation programme, says PM Imran Khan

Package includes funds for improving social, health indicators in districts of Punjab

Utility has sought price increase under quarterly, monthly adjustments

NA panel stresses need for tech-driven sustainable agriculture, food security

Cite low inflation reading, reduction in profit rate on debt securities

Three tariff adjustments are pending that, if notified, can substantially raise electricity prices

Also delays decision on 38% hike in power tariff for Karachi consumers

Planning minister says PTI govt committed to speedy completion of projects

Says his party won’t allow govt to sell off national institutions

Georgieva says the lender has $50b without formal programme and $10b in no-interest funds for poorest countries

Air carriers suspend change fees for new ticket reservations in the hope of winning over hesitant travellers

Benchmark index decreases 0.75% to close at 38,906.40

Saudi Arabia, other OPEC members are seeking to persuade Russia to join them in large additional production cuts

It is proposed that an initial pricing of Rs1 per litre tax be placed

Finance ministry denies global lender has agreed to downward revision

Aviation minister says three more planes will be added to PIA fleet soon

Report states Punjab gave commodity to poultry industry despite shortage, Sindh did not procure it on time

Punjab government would facilitate the private sector and a single tax return form was ready

In comparison, 3.35m tons had been consumed in same month of previous year

Central Development Working Party recommends five schemes worth Rs158 billion to Ecnec

SBP says measures in place to reduce risk of outflow, take maximum benefit of investment

Objects to participation of only Islamic banks in the process

PSQCA prepares to introduce quality standards more suited to Pakistan’s infrastructure

SBP Governor Reza Baqir tells PAC people do not want to come in tax net

Stocks on Wall Street rebounded to trade more than 1% higher after Fed announcement, but later pared gains

Reduces rates by half percentage point to target range of 1% to 1.25%

Benchmark index decreases 96.62 points to close at 39,199.68

Both benchmarks rebound in past two days after sliding more than 20% from their January peaks

Federal Minister for Planning, Development and Special Initiatives urges British investors to invest in new areas

Despite winning massive concessions, lower number of traders files tax returns

Will allow central bank to stop printing money for budgetary financing

Consignments had reached port prior to govt’s notification banning commodity’s export