Business News
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‘Hundi-Hawala being used to import used cars’ | The Express Tribune
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[ad_1] LAHORE: The prevalence of illegal money transfer methods, such as Hundi and Hawala, is taking a toll on Pakistan’s local auto industry, with importers increasingly resorting to these channels for bringing in used cars. Warning of the implications, former General Manager at HinoPak Motors Limited, Zafar Ali said this issue has far-reaching economic consequences,…
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PM calls for accelerating steps to pass benefits of reduced POL prices to people
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[ad_1] Caretaker Prime Minister Anwaar-ul-Haq Kakar chairs a briefing on the decline in prices of essential items as a result of a reduction in prices of petroleum products in Islamabad on October 23, 2023. — PID ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday instructed authorities concerned to speed up steps for trickling down the…
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Experts seek policies for green future | The Express Tribune
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[ad_1] ISLAMABAD: Political leaders, experts and civil society activists have urged the government to revolutionise the country’s energy mix for a sustainable, green future and affordable energy for consumers. During recent years, the prices of electricity have gone up, making it unaffordable for the consumers. At the “State of Energy Security and Just Energy Transition”…
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Economy showing early signs of improvement: SBP | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has said that economic activities have bottomed out in July 2023 and a silver lining is now clearly visible, suggesting an early economic recovery backed partly by the reduction in global commodity prices and higher international growth forecast. The measures taken to cool down the economy in the previous year…
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Rupee at Rs279/$ as IMF review looms | The Express Tribune
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[ad_1] KARACHI: Ahead of the upcoming International Monetary Fund (IMF) economic review, the Pakistani rupee weakened slightly to close above Rs279 against the US dollar in the interbank market. This depreciation is attributed to the increased demand for foreign currency to cover imports and repay maturing foreign debt. Data from the State Bank of Pakistan…
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PM directs to speed up privatisation of crisis-hit PIA
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[ad_1] A Pakistan International Airlines (PIA) aircraft at an airport. — Radio Pakistan/File In view of Pakistan International Airlines’ (PIA) deepening financial crisis, caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday directed the authorities concerned to expedite the process of privatisation of the national flag career. During the past few weeks, the flight operations of the…
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Global stocks fall, US bond yield rise as Israel gears up for major ground assault
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[ad_1] Artillery shells are lined up next to an armoured vehicle as Israeli soldiers take positions near the border with Gaza in southern Israel on October 9. — AFP A regional dispute in occupied Palestine and concerns that US interest rates would stay high for longer than initially anticipated caused stock markets to decline on…
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IMF needs to change its modus operandi | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) was launched in 1944, tasked by its 44 founding members with “monitoring the international monetary system (IMS) and global economic development to identify risks and recommend policies for growth and financial stability”. Its original purpose was to provide short-term loans to nations that had balance of payments problems…
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A lost decade for stock market investors | The Express Tribune
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[ad_1] KARACHI: If I tell you that the stock market index has just crossed 50,000, then it must not be news for you if you are still investing in the market and watching the index on a daily, if not hourly, basis. However, I am not referring to last week, but to the year 2017…
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Fairly paying public sector racehorses | The Express Tribune
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[ad_1] KARACHI: We’re beginning to see some silver linings. Initially, quick deals for port operations were signed with UAE companies. Lately, efforts for curbing speculation and illegal activities have brought USD Rs50 down to Rs280 in the open market. Under SIFC, accelerated approach is observed where clear targets are given to portfolio holders with expected…
