Business News
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Parts of Karachi to be hit with gas suspension: SSGC
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[ad_1] Gas cylinder vendors working at a shop in Peshawar, on November 13, 2023. — APP Parts of Karachi, the country’s biggest city by population, will be hit with a gas suspension, the Sui Southern Gas Company (SSGC) announced Friday, as residents of the bustling metropolis face prolonged loadshedding and low pressure due to winters.…
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‘Turkey’s intl debt sales could hit record in 2024’ | The Express Tribune
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[ad_1] LONDON: Turkey’s pivot back to orthodox fiscal policies could pay off with record debt issuance and the continued return of foreign investors in 2024, JPMorgan Managing Director Stefan Weiler told Reuters. International investors had fled Turkey amid years of low interest rates, despite soaring inflation, as well as a complex web of financial regulations…
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China’s emissions to surpass 4 billion MT | The Express Tribune
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[ad_1] COLORADO: China’s power sector emissions of carbon dioxide (CO2) and equivalent gases will surpass 4 billion metric tonnes for the first time in a calendar year in 2023, as the country cranks up coal-fired electricity output to new highs. China’s total emissions from fossil fuel-powered electricity generation hit 3.99 billion tonnes through October, marking…
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Energy imports drop 13% to $1.42 billion in Nov | The Express Tribune
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[ad_1] KARACHI: Pakistan experienced a 13% decline in overall energy imports, reaching $1.42 billion in November 2023, shedding light on subdued demand for petroleum, oil, and gas products. Economic activities remained lacklustre due to sluggish growth, and the recent surge in product prices has hampered purchasing power across various sectors. The diminishing demand for products,…
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New US car sales are anticipated to rise in 2024
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[ad_1] The showroom and service centre for the US automotive and energy company Tesla in Amsterdam. — AFP/File Sales of new cars are predicted to rise marginally in the United States in 2024, as the automobile sector continues to normalise following the coronavirus pandemic and other supply chain issues since 2020. Leading car data companies…
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All-women-led Pakistani health-tech startup makes history
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[ad_1] The logo of Sehat Kahani. — Facebook/@Sehatkahaniapp In a groundbreaking achievement for Pakistan’s startup landscape, Sehat Kahani, a female-led health-tech startup, has successfully closed a historic Series A funding round after raising $2.7 million. “This landmark positions Sehat Kahani as the first all-female-led company in Pakistan to secure Series A funding,” a statement from…
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Govt to phase out export financing | The Express Tribune
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[ad_1] ISLAMABAD: After giving it for 50 years, the government on Wednesday pulled the plug on a hidden export subsidy scheme and approved its transfer to the federal budget but rejected a proposal to increase the wheat support price to Rs4,000 per 40 kg. The Economic Coordination Committee (ECC) of the cabinet, which made those…
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World Bank approves $350m package | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank greenlit a $350 million package for Pakistan’s budget financing, highlighting the need for fiscal and structural reforms. This move comes amid concerns raised by the World Bank’s board members over Pakistan’s low tax collection relative to the size of its economy. The World Bank’s Board of Executive Directors unanimously approved…
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Power generation hits 33-month low | The Express Tribune
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[ad_1] KARACHI: Power generation in Pakistan plummeted to a 33-month low, reaching 7,547 Gigawatt-hours (GWh) in November 2023. This decline was attributed partly to the onset of the winter season and, more significantly, to the overall economic slowdown in the country. The dip in power generation has intensified the burden of capacity payments on end-consumers.…
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Aon to purchase NFP for $13.4 billion
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[ad_1] An image of the outside of Aon office. — Aon An agreement has been reached for Aon plc to purchase NFP, a middle-market advisor for retirement plans, wealth manager, benefits consultant, and property and casualty broker. A total of $7 billion in cash and $6.4 billion in Aon shares would be used in the…
