Business News
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World Bank approves $149.7m in financing for projects in Pakistan
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[ad_1] A person enters the building of the Washington-based global development lender, The World Bank Group, in Washington. — AFP/File The World Bank’s Board of Executive Directors Saturday approved $149.7 million in financing for Pakistan to support Digital Economy Enhancement Project (DEEP) and Sindh Barrages Improvement Project (SBIP). DEEP worth $78 million will support the…
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West is facing dire underpopulation crisis — will it make Third World take over?
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[ad_1] Elon Musk’s underpopulation claims are now reality for most of world. — Medium/File Shock research released this week warned that three out of four countries could experience “underpopulation” by 2050 as a result of the global decline in birth rates, mainly in the Western countries. This could increase to 97% of all countries by…
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Feasibility study on Reko Diq project to be concluded by year-end, PM told
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[ad_1] A delegation of Barrick Gold-led by its Chief Executive Officer Mark Bristow meets Prime Minister Shehbaz Sharif on March 22, 2024. — Radio Pakistan The feasibility study of the multibillion-dollar Reko Diq gold and copper mining project would be completed by the end of 2024, Prime Minister Shehbaz Sharif was told on Friday.…
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Rupee surges to new five-month high at Rs278.14/$ | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency reached a new five-month high at Rs278.14 against the US dollar in the interbank market, continuing its winning streak for the seventh consecutive working day, driven by persistent improvements in the country’s foreign exchange reserves. Market discussions suggest that the rupee received further support against the greenback following Finance Minister…
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CCP finishes Telenor merger review | The Express Tribune
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[ad_1] ISLAMABAD: The Competition Commission of Pakistan (CCP) has almost completed the first phase review of a merger under which Pakistan Telecommunication Company Limited (PTCL) is taking over operations of Telenor Pakistan. It is likely to finalise a report by next week. Sources said that different teams of the CCP had obtained almost all the…
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Pakistan eyes $300m by selling Panda Bonds to Chinese investors
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[ad_1] Finance Minister Muhammad Aurangzeb. — APP. Federal Minister for Finance and Revenue Muhammad Aurangzeb has expressed eagerness to tap Chinese investors by selling as much as $300 million in Panda Bonds for the first time ever this year. Panda Bonds are yuan-denominated instruments sold in China by offshore issuers, including companies, multilateral agencies and…
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Bank holiday in country tomorrow on account of Pakistan Day
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[ad_1] The State Bank of Pakistan’s (SBP) building. — APP/File The banks across the country will remain closed tomorrow (March 23) on account of Pakistan Day, the State Bank of Pakistan (SBP) said on Friday. The central bank announced the bank holiday a day ahead of the celebration of Pakistan Day, which is a gazetted…
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Pakistan to discuss Extended Fund Facility with IMF next month | The Express Tribune
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[ad_1] ISLAMABAD: The matter of an Extended Fund Facility (EFF) with the International Monetary Fund (IMF) will be discussed in Washington next month, Finance Minister Muhammad Aurangzeb said on Friday, as the country looks to alleviate a full-scale economic crisis. The standby $3 billion arrangement with the global lender expires on April 11, and the…
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Turkey raises interest rate by 500bps to ‘anchor inflation’
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[ad_1] The Central Bank of the Republic of Türkiye (CBRT) headquarters in Ankara, Türkiye. — AFP/File In a bid to curb rampant inflation, Turkey’s central bank Thursday raised policy rate by 500 basis points to 50%, a move that stunned the market. As per the statistics, Turkey’s annual inflation swelled to 67.07% in February from…
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PM takes charge of FBR overhaul | The Express Tribune
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[ad_1] Prime Minister Shehbaz Sharif has decided to lead the reform process in the Federal Board of Revenue (FBR) himself amid the startling revelation that over 80% of bank accounts in Pakistan are not declared to the tax authorities. The prime minister has appointed himself as the chairman of the Steering Committee, which will oversee…
