Photo: The Bank of England building in London (file image)
Business & FinanceBank of England raises interest rates to 4% in first hike in over three years as inflation heads towards 5%
The Bank of England has raised Bank Rate from 3.75% to 4% in its first increase since August 2023, warning that further rises are likely if the US-Iran conflict keeps energy prices high and inflation climbing.
Photo: A rickshaw at Lahore Fort (file image)
Pakistan NewsSoaring LPG prices squeeze Pakistan's rickshaw drivers, forcing families to cut back on meals
Liquefied petroleum gas prices have surged in Pakistan since two Iranian border crossings closed on 17 October, halting imports, leaving rickshaw drivers earning less than half what they once did and forcing some families to eat only twice a day.
Photo: A cooking gas cylinder
Pakistan NewsLPG gets costlier from today as Ogra raises November price, while open-market rates run far above the official rate
Pakistan's oil and gas regulator has raised the official liquefied petroleum gas price by Rs14.73 a kilogramme for November, taking a standard 11.8-kilogramme household cylinder to Rs3,470, even as LPG sells for far more in the open market amid a supply shortage.
Photo: A petrol pump
Pakistan NewsDiesel rises by Rs2.29 to Rs402.96 a litre as petrol stays unchanged at Rs377.91
The government has raised high-speed diesel by Rs2.29 a litre to Rs402.96 for October 31 to November 2 under a fresh OGRA notification, while petrol remains unchanged at Rs377.91 for a second day running.
Photo: Frankfurt skyline, Germany's financial centre
Business & FinanceGerman inflation slows to 2.8% in October, beating forecasts as fuel tax cut bites
Germany's inflation rate fell to 2.8% in October from 3.3% in September, Destatis reported on Friday, below the 3.1% forecast, as a fuel tax cut and slower energy price rises pulled the headline rate down.
Photo: A market in Karachi, Pakistan
Pakistan NewsPakistan's weekly inflation stays above 11% as tomato prices jump nearly 35% in a week
Pakistan's short-term inflation stood at 11.32% year-on-year in the week ended 29 October, the Pakistan Bureau of Statistics reported on Friday, even as the weekly index eased 0.35% on lower electricity, chicken and egg prices.
Photo: A petrol station in Pakistan
Pakistan NewsDiesel crosses Rs400 a litre for the first time as petrol stays unchanged at Rs377.91
High-speed diesel rose by 85 paisas to Rs400.67 a litre for October 30 under Pakistan’s daily pricing mechanism, crossing the Rs400 mark, while petrol was left unchanged at Rs377.91, the Petroleum Division notified.