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Tag: Economic Downturn

Car sales decline in Pakistan
Business
  • Web Desk
  • Nov 13, 2023
Car sales in Pakistan drop by more than 56%

In October, the Pakistani automotive sector faced a substantial downturn, with passenger car sales plummeting by 24.33 per cent, totalling 4,850 units compared to the previous month’s 6,410 units.

Global oil prices
Business
  • Web Desk
  • Oct 25, 2023
Global oil prices extend decline for fourth consecutive day

Oil prices fell for the fourth consecutive day due to concerns over slowing European demand, outweighing worries about supply disruptions.

Nokia
Technology
  • Web Desk
  • Oct 19, 2023
Nokia to cut 14,000 jobs due to poor sales performance

On Thursday, Nokia, the renowned phone manufacturer, revealed plans to slash up to 14,000 jobs as part of a cost-cutting strategy.

Pak Suzuki
Business
  • Web Desk
  • Oct 18, 2023
Inventory shortages force Pak Suzuki to halt car production

In a recent development, Pak Suzuki Motor Company (PSMC) has issued a notice to the Pakistan Stock Exchange (PSX) regarding the temporary closure of its automobile production plant.

petrol sales decline Pakistan
Latest
  • Hum News
  • Oct 02, 2023
Petroleum sales in Pakistan decline by 34% due to high prices

In a stark contrast to the previous year, the oil marketing companies (OMCs) in Pakistan experienced a significant setback as their sales plummeted by 34 per cent year-on-year (YoY) in September 2023. The figures stood at 1.01 million tonnes (MTs) compared to a robust 1.52 MTs in September 2022.

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