Business News
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FPCCI urges govt to halt gas tariff hike | The Express Tribune
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[ad_1] KARACHI: The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh, has issued a passionate plea for immediate intervention from the Special Investment Facilitation Council (SIFC) apex committee to prevent the impending surge in gas tariffs. This alarming proposal, set to be ratified by the federal cabinet, could…
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SBP’s Monetary Policy Committee to meet on October 30
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[ad_1] A representational image of the State Bank of Pakistan building. — AFP/File The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) will meet on Monday (October 30) to decide on the interest rate regime. Taking to X — formerly known as Twitter — the central bank said: “The Monetary Policy Committee of #SBP…
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Inflation to dog world economy next year | The Express Tribune
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[ad_1] BENGALURU: High inflation will dog the world economy next year, with three-quarters of over 200 economists polled by Reuters saying the main risk is that it turns out higher than they forecast, suggesting interest rates will also remain higher for longer. Several central banks are still expected to begin cutting interest rates by the…
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Auto show: Local hi-tech defence items shine | The Express Tribune
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[ad_1] KARACHI: The Expo Centre in Karachi welcomed a multitude of visitors as the Pakistan Auto Show 2023 commenced, with a surprising twist that saw locally-manufactured high-tech defence items and health tech products dominating the spotlight. Abdul Jabbar Khan, an enthusiastic visitor with a keen interest in arms and defence technology, expressed his amazement at…
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Rupee touches two-week low | The Express Tribune
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[ad_1] KARACHI: Pakistani currency continued to cede ground for the fifth consecutive working day on Friday, reaching the two-week low above Rs280.50 to a dollar in inter-bank market owing to rising demand for the greenback. According to State Bank of Pakistan’s (SBP) data, the rupee dropped 0.17%, or Rs0.48, and closed at Rs280.57 against the…
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Weekly inflation surges 29.6% | The Express Tribune
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[ad_1] KARACHI: The weekly inflation, measured by the Sensitive Price Indicator (SPI), surged 29.65% in the week ended October 26, 2023 compared to the corresponding week of last year, driven primarily by higher prices of energy and food items. Pakistan Bureau of Statistics (PBS) reported that the largest contribution to the weekly inflation came from…
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US consumer spending rises in tandem with monthly core inflation
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[ad_1] An American shopping for groceries in a US supermarket. — AFP/File US consumer spending grew more than anticipated in September as households upped their vacation and auto purchases, continuing the trend of higher spending growth as we move into what economists predict will be a difficult fourth quarter. According to the report released by…
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Forex reserves fall by $220m to $7.5b | The Express Tribune
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[ad_1] KARACHI: Pakistan’s foreign exchange reserves fell by $220 million on a weekly basis, with the total now standing at $7.494.2 billion. Reserves dropped by 2.8% as of October 20, data released on Thursday by the State Bank of Pakistan (SBP). According to data released by the central bank on Thursday, its foreign currency reserves…
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‘Freelancers can generate $10b in tech exports’ | The Express Tribune
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[ad_1] KARACHI: In a bid to transform Pakistan into a thriving tech export hub, the Caretaker Federal IT and Telecommunication Minister, Dr Umar Saif, is spearheading an ambitious plan aimed at generating $10 billion in annual tech exports. The strategy hinges on enabling one million freelancers to earn $30 each daily, with the government providing…
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MoU inked to set up EV stations | The Express Tribune
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[ad_1] BEIJING: Pakistan’s Senate Chairman Muhammad Sadiq Sanjrani, along with a delegation, witnessed the signing of a landmark memorandum of understanding (MoU) in Beijing. The MoU, inked on October 25 between TGOOD, a leading Chinese company, and the REC Group of Pakistan, aims to promote environmentally friendly electric vehicles (EVs) in Pakistan. Speaking on the…
