Business News
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Turkiye focuses on SIFC activities | The Express Tribune
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[ad_1] LAHORE: Turkiye Consul General Durmus Bastug has said that the setting up of the Special Investment Facilitation Council (SIFC) is a favourable step for investors as its embassy closely monitors activities of the council. “This initiative will produce desirable results,” he said while expressing optimism. During a meeting at the Lahore Chamber of Commerce…
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Rupee appreciates for record 27 days in a row | The Express Tribune
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[ad_1] KARACHI: Pakistani currency, which began its ascend with the crackdown on smugglers and gradual economic recovery, on Friday created history by maintaining its winning streak for 27 consecutive working days for the first time in three years. It hit over three-month high below Rs278 against the US dollar in inter-bank market. Talking to The…
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SBP governor assures global investors of meeting IMF targets
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[ad_1] SBP Governor Jameel Ahmad addressing a press conference in this undated picture. — AFP/File State Bank of Pakistan (SBP) Governor Jameel Ahmad on Friday informed global investors that Pakistan was “on track” to address the longstanding structural weaknesses, adding that the country is “very comfortably” placed to meet the targets set by the International…
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Pakistan fails to realise CPEC potential | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has failed to realise even one-fifth of the China-Pakistan Economic Corridor (CPEC) potential and the country’s biggest failure is its inability to increase exports, which is required to finance debt and investment-related obligations, said Privatisation Minister Fawad Hasan Fawad on Thursday. Fawad, who was Pakistan’s focal person on CPEC affairs during the…
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Rules notified to counter cyber attacks | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Information Technology and Telecommunication (MoITT) on Thursday notified the Computer Emergency Response Team (CERT) Rules 2023, which would help counter cyber attacks against government data. In his message on X (formerly Twitter), Federal Minister for IT and Telecom Dr Umar Saif said that Pakistan needed to protect its cyber space…
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‘Rs75 banknotes legal tender’
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[ad_1] Rs75 notes. — SBP In its response to reports of nonacceptance of Rs75 banknotes by sellers and buyers across the country, the State Bank of Pakistan (SBP) Thursday clarified that both green and blue coloured special commemorative bills were legal tender and should not be declined for that matter. “…under Section 25 of the…
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Israel-Hamas war economic ‘earthquake’ for MIddle East: IMF
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[ad_1] An Israeli army self-propelled howitzer fires rounds near the border with Gaza in southern Israel on Oct. 11, 2023. — AFP The war between Israel and Hamas has darkened the horizon for a world economy that is already experiencing weak growth and is an economic “earthquake” that will have challenging repercussions for the Middle…
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Govt works on two-pronged strategy for PSM sell-off | The Express Tribune
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[ad_1] ISLAMABAD: The caretaker government has kicked off work on a two-pronged strategy for the privatisation of Pakistan Steel Mills (PSM), which comes in the backdrop of a payment dispute with Sui Southern Gas Company (SSGC) over gas supplies. A major outstanding issue before sell-off is the requirement of no-objection certificate (NOC) and the vacation…
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Rupee breaches 280 barrier against dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee maintained its powerful rally for the 25th consecutive working day on Wednesday, breaching the strong psychological barrier of Rs280 against the US dollar for the first time in three months. According to State Bank of Pakistan’s (SBP) data, the currency gained 0.36%, or Rs1, and hit a new three-month high at…
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Israel-Hamas war: Will oil prices keep increasing as attacks on Gaza continue?
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[ad_1] A fireball erupts from an Israeli airstrike in Gaza City on October 9, 2023. — AFP After violence broke out between Israel and Hamas, speculations over how the crisis may affect Middle Eastern energy production caused oil prices to soar on a global scale. On Monday, the US standard West Texas Intermediate increased 4.3%…
