Business News
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Charting through uncertainty | The Express Tribune
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[ad_1] PUBLISHED March 17, 2024 ISLAMABAD: Prime Minister Shehbaz Sharif has begun his second term in office on a note of defiance. He successfully resisted the pressure and did not appoint family relative and party’s old economic guard Ishaq Dar as the new finance minister. Shehbaz Sharif has drawn the curtain on Ishaq Dar’s over…
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SBP faces dilemma over interest rate | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is scheduled to meet on Monday to determine the benchmark interest rate for the next six weeks. It will be a highly tricky meeting with almost half of the financial experts and key investors betting on the bank cutting the rate, while the remaining half believe the financial regulator will…
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PSX under pressure over IMF talk concerns | The Express Tribune
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[ad_1] KARACHI: Turbulence and uncertainty marred the outgoing week at Pakistan Stock Exchange (PSX), as the market underwent a bearish spell by closing four out of five sessions in the red. Uncertainty about securing a new, longer-term loan package in negotiations with the International Monetary Fund (IMF) kept the KSE-100 index under constant pressure. The…
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US investigates Meta for role in drug sales | The Express Tribune
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[ad_1] BENGALURU: US prosecutors in Virginia are probing whether Facebook-parent Meta’s social media platforms facilitated and profited from the illegal sale of drugs, the Wall Street Journal reported on Saturday, citing documents and people familiar with the matter. The prosecutors sent subpoenas last year and have been asking questions as part of a criminal grand…
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SBP issues statement about issuance of polymer banknotes
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[ad_1] A person can be seen holding Pakistani notes of various denominations. —AFP/File The State Bank of Pakistan (SBP) has debunked news reports claiming that the central bank was considering issuing polymer currency notes in a deviation from its traditional paper-based banknotes. “The SBP categorically denies news reports about issuance of polymer banknotes series,” the…
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SBP denies reports of issuing polymer currency notes | The Express Tribune
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[ad_1] ISLAMABAD: The State Bank of Pakistan (SBP) denied reports, circulating on social media and news channels, that it was issuing a new series of polymer currency notes. In a statement on Saturday, the central bank refuted the reports as ‘unfounded and lacking merit’. According to the SBP, there are currently no plans or proposals to…
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Govt maintains petrol price for next fortnight
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[ad_1] Employees at a fuel station attend to their customers in Islamabad, Pakistan, on February 16, 2022. — AFP/File ISLAMABAD: The newly-elected government led by Prime Minister Shehbaz Sharif Friday maintained the price of petrol for the next fortnight at Rs279.75 per litre. In a statement, the Finance Division said the price of diesel had…
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Big industries’ output edges down | The Express Tribune
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[ad_1] ISLAMABAD: The production of goods by Pakistan’s big industries slowed down during the first seven months of the current fiscal year and their growth fell 0.52% year-on-year as the manufacturing sector took a hit from the record high interest rate and the increasing cost of doing business. Pakistan Bureau of Statistics (PBS) reported on…
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Rupee hits new 5-month high at 278.74/$ | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency edged up to a new over five-month high at Rs278.74 against the US dollar in the interbank market, maintaining an uptick for the third consecutive working day, fuelled by relatively better supply of the greenback in the domestic economy. According to the State Bank of Pakistan’s (SBP) data, the domestic…
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HSD price reduced by Rs1.77 per litre, petrol left unchanged | The Express Tribune
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[ad_1] In a move to provide some relief to people during Ramazan from the persistently high inflation, the federal government on Friday reduced the price of high-speed diesel (HSD) by Rs1.77 per litre while maintaining the tariffs of petrol, according to a statement issued by the Finance Division. According to the statement, the HSD would…
