Business News
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Is 4-day workweek effective?
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[ad_1] A representational image of an office meeting. — Pixabay Do shorter workdays increase an organisation’s total output? A recent study conducted in the United Kingdom indicates that the four-day workweek plan has advantages for both employers and individuals, ABC News reported. At least 89% of the 61 UK enterprises, which took part in the four-day…
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Rupee falls slightly from 4-month high | The Express Tribune
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[ad_1] KARACHI: The stabilising Pakistani currency on Friday slightly depreciated to Rs279.19 against the US dollar in the inter-bank market, coming down from over four-month high in the wake of a decline in the central bank’s foreign currency reserves below $8 billion. According to State Bank of Pakistan’s (SBP) data, the rupee ticked down 0.02%,…
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Auto vendors optimistic amid recovery signs | The Express Tribune
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[ad_1] ISLAMABAD: Local auto vendors are optimistic about the potential growth in demand within the auto industry, foreseeing positive outcomes for the vendor sector in the near future. “Declines in inflation and interest rates, along with increased economic activity with the new government, offer hope for sustainable recovery,” said Syed Nabeel Hashmi, Chairman of Thermosole…
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SPI rises to 7-week high amid gas price surge | The Express Tribune
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[ad_1] KARACHI: Pakistan’s inflation rose to a seven-week high at 1.27% in the week ending February 29, primarily due to the recent significant increase in gas prices by the government, which greatly influenced the short term inflation figures. The weekly SPI (Sensitive Price Indicator) inflation had slowed to 0.04% in the previous week ending February…
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SBP injects Rs8tr to ease liquidity woes | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has injected over Rs8 trillion into conventional and Shariah-compliant banks for up to four weeks, addressing the liquidity crunch in the financial system to ensure smooth banking operations in the country. Commercial banks’ dependence on financing from the central bank has gradually increased due to significant borrowing by the government…
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Petrol price increased by Rs4.13 per litre for next fortnight
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[ad_1] A fuel station worker refills a car’s petrol tank. — AFP/File ISLAMABAD: In line with the global oil rates, the outgoing caretaker government has increased the price of petrol by Rs4.13 per litre for the next fortnight. The new petrol price is Rs279.75 per litre, a notification from the Finance Division read, which will remain…
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Progress on acquiring land for dams reviewed | The Express Tribune
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[ad_1] ISLAMABAD: An implementation committee on Diamer Bhasha and Mohmand Dams, constituted by the Supreme Court of Pakistan, met on Thursday to review progress on land acquisition and resettlement of locals from project sites. The committee met at the request of the sub-committee on land acquisition and resettlement relating to Diamer Bhasha Dam. Water and…
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Income tax filers drop 35% | The Express Tribune
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[ad_1] ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National…
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Alibaba Cloud announces steep price cut | The Express Tribune
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[ad_1] HONG KONG: China’s Alibaba Cloud on Thursday said it will slash prices of some of its products by as much as 55%, its most severe price cut to date, amid intensifying competition to attract heavy users, particularly artificial intelligence (AI) software developers. This would be the second time the cloud arm of Chinese e-commerce…
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Sindh govt, World Bank to invest $100m in renewables | The Express Tribune
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[ad_1] KARACHI: The Sindh government is collaborating with the World Bank to set up renewable energy projects in solar and wind equipment, aiming to protect the environment from greenhouse gases and Pakistan from recurrent natural disasters. Speaking at a seminar titled ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction’, Director of Alternative…
