Business News
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Rs48b sought for CPEC energy debt | The Express Tribune
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[ad_1] ISLAMABAD: The energy ministry has requested Rs48 billion in funds from the government to clear the dues of energy projects of the China-Pakistan Economic Corridor (CPEC). However, this sum will not be sufficient to clear the backlog, which has already reached Rs487 billion. The energy ministry made this request for funds as part of…
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Tesla scraps low-cost car plans | The Express Tribune
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[ad_1] SAN FRANCISCO: Tesla has cancelled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, according to three sources familiar with the matter and company messages seen by Reuters. The automaker will continue developing self-driving robotaxis on the same small-vehicle platform, the sources said. The decision…
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Soaring debt pile worries industrialists | The Express Tribune
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[ad_1] KARACHI: Eminent industrialists have expressed serious concern about the ballooning debt burden of the country without any consistent economic policy, saying the government should work to promote local brands instead of asking for loans. They urged the newly elected government to work seriously and sincerely in the larger interest of the countrymen. In this…
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Iran desires to import more agri-products | The Express Tribune
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[ad_1] ISLAMABAD: Iran has shown interest in increasing imports of agricultural products, particularly fruits, from Pakistan in a bid to deepen bilateral trade relations between the two neighbouring countries. “We want to import more meat, rice and agricultural products, especially mangoes and kinnows, from Pakistan. Iranian people are very fond of Pakistani kinnows,” said Iranian…
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Boeing mulls shedding Airbus work | The Express Tribune
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[ad_1] WASHINGTON: Boeing, is looking at how Spirit AeroSystems, could shed or sharply reduce its ties to Airbus, as the supply-chain giant’s work for the European planemaker poses complications in rival Boeing’s attempt to acquire its former subsidiary. The US planemaker is exploring offloading or redeploying specific Spirit businesses that supply key Airbus components if…
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Business confidence down: Gallup | The Express Tribune
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[ad_1] KARACHI: In the latest Gallup business survey conducted in the quarter ended March 2024, the business community foresees a deterioration in the future situation for their businesses, moving from an improved state at present to a worse one. The pessimism among businessmen regarding the future direction of the country has further worsened, scoring at…
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Rupee holds firm near 5-month high | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency has remained stable near its recent five-and-a-half-month high for the past couple of days, closing at Rs277.93 against the US dollar in the interbank market on Friday. The currency has been fluctuating around this level, approaching the significant psychological threshold of Rs277/$. According to the State Bank of Pakistan’s (SBP)…
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Exporters criticise govt’s blue passport incentives | The Express Tribune
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[ad_1] Critics of the new incentives, such as the issuance of blue passports, to top exporters argue that the government should prioritise providing facilities to the vibrant middle class and supporting the growth of Small and Medium-sized Enterprises (SMEs). They have expressed to The Express Tribune that the government’s focus seems to be on promoting…
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In record-setting rally, PSX soars above 68k | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) displayed a remarkable rally during the outgoing week when it soared to new all-time highs and surpassed the 68,000-point mark. The week, shortened by the Jummatul Wida holiday, saw a surge in activity as investors were enthusiastic and believed that the policy rate cut was in the offing. Robust…
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Banks to observe Eid ul Fitr holidays from April 10-12
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[ad_1] National Bank of Pakistan. — Radio Pakistan/File KARACHI: All the banks and financial institutions will observe Eid ul Fitr holidays from April 10 to 12, announced the State Bank of Pakistan (SBP) on Thursday. In a statement, the SBP announced that the central bank will “remain closed from 10th to 12th April, 2024…
