Business News
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Trump sharpens the knife on public spending in 2026 budget, reveals NYT
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[ad_1] US President Donald Trump. — Reuters President Donald Trump’s administration is seeking to slash billions of dollars from programmes that support childcare, health research, education, and housing in its 2026 fiscal budget proposal, the New York Times reported on Friday. The plan would also target community development and housing assistance, and is currently being…
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Gold sees historic one-day drop | The Express Tribune
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[ad_1] Listen to article KARACHI: Gold prices in Pakistan plunged on Wednesday, following global cues, as de-escalation signals from US President Donald Trump over Chinese tariffs sparked speculation of a prolonged market correction. After hitting record highs in recent sessions, gold prices witnessed a historic intra-day drop, tracking a significant downturn in the international market. According to…
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PSX kicks off week with over 1,000-point surge
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[ad_1] A broker talks on phone as he looks at an index board showing the latest share prices at the PSX in Karachi on February 10, 2023. — AFP The stock market started the new week with a sharp upswing, as investor confidence remained buoyant due to strong economic developments, including a record current account…
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IT sector eyes window of opportunity | The Express Tribune
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[ad_1] Listen to article KARACHI: IT companies appear to be optimistic about ramping up exports to various high-potential markets after the United States of America (USA)’s new administration announced new reciprocal tariffs in a vast array of countries. The tariffs will scale up the burden of operational costs for exporters in a host of countries. The Trump…
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New round of bidding for PIA majority stake to begin next week
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[ad_1] A Pakistan International Airlines (PIA) plane at Allama Iqbal International Airport in Lahore, Pakistan, January 29, 2024. — Reuters ISLAMABAD: Days after Pakistan International Airlines (PIA) posted its first annual profit in over 20 years, the government announced on Thursday it will invite expressions of interest next week for the airline’s sale. Authorities have…
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Pakistan mulls ‘US oil imports’ | The Express Tribune
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[ad_1] KARACHI: Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher US tariffs, according to a government source directly involved with the proposal and a refinery executive. Countries are scrambling to find ways to lower their US tariff burdens, including buying more…
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China seeks removal of all US tariffs after announcement of exemptions
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[ad_1] US President Donald Trump and Chinese President Xi Jinping. — Reuters/File BEIJING: Beijing urged the United States on Sunday to “completely cancel” its reciprocal tariffs after Washington put forward some exemptions for electronics and key chipmaking equipment. “We urge the US to […] take a big step to correct its mistakes, completely cancel the…
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FBR portal glitch sparks outcry from businesses | The Express Tribune
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[ad_1] Listen to article KARACHI: Business leaders and Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani have strongly urged Prime Minister Shehbaz Sharif to take immediate notice of ongoing technical failures in the Federal Board of Revenue’s (FBR) IRIS portal, which have severely disrupted tax compliance and caused grave difficulties for businesses across Pakistan.…
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Elon Musk faces countersuit from OpenAI
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[ad_1] SpaceX CEO Elon Musk speaks after unveiling the Dragon V2 spacecraft in Hawthorne, California. — Reuters/File OpenAI filed a countersuit on Wednesday against Tesla CEO Elon Musk, accusing him of a consistent pattern of harassment, seeking to prevent the tech billionaire from engaging in any “further unlawful and unfair action” amid ongoing litigation regarding…
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Diesel stocks swell toall-time high as sales fall | The Express Tribune
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[ad_1] ISLAMABAD: Inflated sales projection for high-speed diesel by the regulator has put Pakistan’s largest oil refinery, Pak Arab Refinery Limited (Parco), in a critical situation as its stocks have piled up to an all-time high due to low purchases from oil marketing companies (OMCs). The high demand estimate has created room for oil importing…
