Business News
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PSO diversifies business to boost revenue | The Express Tribune
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[ad_1] KARACHI: State-owned Pakistan State Oil (PSO) has diversified its business as it set up fintech, venture capital and renewable energy companies in an effort to continue earning revenue of trillions of rupees. It comes at a time when the company’s core energy business is experiencing a historically low demand and high circular debt in…
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Stocks in global markets nosedive as Treasury yield hits 16-year high
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[ad_1] A currency dealer wearing a face mask monitors exchange rates in a trading room at KEB Hana Bank in Seoul. — AFP/File NEW YORK: Global stocks tumbled Tuesday after a closely watched US bond benchmark hit a 16-year high, exacerbating worries about elevated interest rates as the dollar briefly topped 150 yen. All three…
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United Airlines books 110 aircraft from Boeing, Airbus
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[ad_1] A United Airlines plane taxis at Newark International Airport in New Jersey. — AFP/File In a major agreement to buy more than a hundred aeroplanes, United Airlines announced Tuesday that it has booked as many as 110 aircraft from aviation industry giants Boeing and Airbus, indicating reviving confidence in the sector. The airline behemoth…
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TikTok to halt online sales in Indonesia after social media ban
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[ad_1] A staff of a small shoe manufacturer shows their new products to make an introductory video to be posted on social media in Bogor, West Java. — AFP Indonesia, the country with the largest economy in Southeast Asia, Monday said it would halt accepting transactions on TikTok starting on Wednesday, following the country’s last-week…
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Petroleum sales fall to 44-month low | The Express Tribune
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[ad_1] KARACHI: The demand for petroleum products in Pakistan hit a 44-month low at 1.06 million tons in September 2023, primarily due to a surge in prices in line with global uptrend. Topline Research analyst Myesha Sohail, in a commentary, said sales of petroleum products declined to the lowest level since the Covid-19 lockdown in…
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Minister calls for national seed policy | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Federal Minister for National Food Security and Research, Dr Kausar Abdullah Malik, on Tuesday, convened a meeting to address Pakistan’s seed system. The gathering, attended by key stakeholders, aimed to evaluate challenges and future prospects. According to a statement issued by Ministry of National Food Security, Malik called for a uniform regulatory…
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‘Pakistan needs careful economic management to get stability’ | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank (WB) on Tuesday suggested Pakistan to undertake the much-needed fiscal reforms including a reduction in tax exemptions and a broadening of the tax base, terming them “critical” for economic stability and sustainable economic growth. “Careful economic management and deep structural reforms will be required to ensure macroeconomic stability and growth,”…
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Rupee continues to rally against US dollar, gains Rs1.04 | The Express Tribune
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[ad_1] ISLAMABAD: Pakistani rupee on Tuesday witnessed its 20th consecutive recovery session as it gained Rs1.04 against the US dollar in the interbank trading and closed at Rs285.72 against the previous day’s closing of Rs 286.76. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open…
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Vodafone, Orange want European Union to make big tech pay
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[ad_1] Logos of European telecommunication giants Vodafone and Orange. — AFP The CEOs of European telecommunications companies, notably Orange and Vodafone, pushed the European Union (EU) to impose fees on tech and streaming corporations for the enormous amounts of bandwidth they consume. The idea is not new but has ignited a fierce debate. Telecom giants…
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Cnergyico receives first Russian oil cargo | The Express Tribune
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[ad_1] ISLAMABAD: Cnergyico Pk has received the first cargo of Russian Urals crude at its Single Point Mooring (SPM) facility, which will clear the way for handling larger ships with oil consignments later. Earlier, Pakistan Refinery Limited (PRL) imported 100,000 tons of Russian crude oil, which was first divided into two ships at an Omani…
