Business News
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Indian Supreme Court denies new inquiry against billionaire Gautam Adani
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[ad_1] An art school teacher gives final touches to a painting of the Indian businessman Gautam Adani highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. — AFP The Supreme Court of India has denied requests to form a new panel to look into fraud allegations made by a US…
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Elon Musk suffers setback as Tesla loses crown
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[ad_1] Tesla CEO Elon Musk. — AFP/File Elon Musk Tuesday suffered a major setback — not a good way to start the New Year — as his company Tesla was overtaken by China’s BYD as the world’s best-selling electric vehicle manufacturer. As per the Telegraph, Musk’s Tesla has said that it sold a record 484,507 vehicles…
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‘Not a single issue addressed’ | The Express Tribune
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[ad_1] KARACHI: Despite the formation of a coordination committee two months ago and assurances from the caretaker government, business leaders in Hyderabad lament that not a single issue affecting the city’s business community has been addressed. They highlight that Site Hyderabad, facing neglect for over two decades, is grappling with numerous issues affecting industrialists and…
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Stocks slip over high inflation reading | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Tuesday experienced a downturn, following a highly bullish session a day ago, primarily owing to dismal data revealing that the Consumer Price Index (CPI) surged to 29.7% year-on-year (YoY) in December 2023. In the morning, the trading session began on a robust note, touching intra-day high at 65,333.69…
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HEC handed over to successful buyer | The Express Tribune
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[ad_1] ISLAMABAD: After nearly two years of successful bidding, the Privatisation Commission officially handed over the Heavy Electrical Complex (HEC) to the buyer, IMS Engineering (Pvt) Ltd, on Tuesday. The state-owned company was sold in February 2022 for Rs1.4 billion to IMS Engineering, marking the sole privatisation transaction during the Pakistan Tehreek-e-Insaf (PTI) tenure. HEC,…
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Which US jobs experienced biggest pay hikes in 2023?
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[ad_1] The US added 336,000 new jobs in September from an upwardly revised 227,000 in August. — X/@bloomberg The average weekly wage for workers in the United States increased by 1.7% between 2019 and 2023, despite rising costs for everything from groceries to rent, as per the government labour statistics. According to a recent survey…
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Caretakers eye cutting power prices for industries
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[ad_1] ISLAMABAD: Muhammad Ali, the caretaker federal minister for energy, stated that the government was considering making a significant move by lowering industrial power rates. Speaking to Geo News, the minister said that with five to six weeks remaining until the elected government could assume power, the caretaker government will complete a few major things.…
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Why Nobel Prize winner Muhammad Yunus is convicted in Bangladesh labour law case?
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[ad_1] Muhammad Yunus is facing more than 100 other charges over labour law violations and alleged graft. — AFP/File Muhammad Yunus, the recipient of the Nobel Peace Prize, was sentenced to six months in prison by a Bangladeshi court on Monday for violating labour laws, as per the prosecution. Yunus claimed that he had not…
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PM orders crackdown against fertiliser hoarders | The Express Tribune
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[ad_1] KARACHI: Caretaker Prime Minister Anwaarul Haq Kakar has directed authorities concerned to launch a crackdown against fertiliser hoarders, smugglers, and profiteers, stating that there is enough stock of urea available for the current wheat season in the country. In a statement from the PM Office Media Wing by APP, the Press Information Department (PID),…
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Kinnow exports projected to decline by 50% | The Express Tribune
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[ad_1] KARACHI: The Kinnow industry is on the verge of collapse, with a projected 50% decline in exports and the closure of 50% of processing plants, warn leading exporters. Sharing a plethora of reasons with The Express Tribune, they highlight issues such as a shorter shelf life for Kinnow, lack of resistance to diseases, low-quality…
