Business News
-
Minister urges US-based diaspora to help unlock Pakistan’s investment potential
.
[ad_1] ISLAMABAD: Caretaker Minister for IT and Telecommunications Dr Umar Saif on Thursday called on the Pakistani diaspora based in the US to help Pakistan unlock its investment potential and extended all his support for the “Investment in Pakistan” conference scheduled for this year. He made the appeal during a meeting with a high-level USAID…
-
Foreign currency reserves fall by $140m to $7.64b | The Express Tribune
.
[ad_1] KARACHI: The State Bank of Pakistan (SBP) has reported a 1.8% decline in foreign exchange reserves on a week-on-week basis, with the total now standing at $7.64 billion. According to data released by the central bank on Thursday, its foreign currency reserves decreased by $140 million and reached $7,638.9 million in the week ended…
-
Military helps stifle currency black market | The Express Tribune
.
[ad_1] KARACHI/PESHAWAR: When the military was called on to help defend the ailing rupee, licenced foreign exchange traders cheered while their black market rivals in the bazaars of Peshawar, Karachi and other cities shuttered their shops before they got taken away. The campaign against the informal market has worked. Tens of millions of dollars have…
-
SPB keeps policy rate unchanged at 22%
.
[ad_1] State Bank of Pakistan. — Radio Pakistan/File The State Bank of Pakistan (SBP) on Thursday kept the policy rate unchanged at 22% per cent for the next couple of months. In a statement, the SBP said, “The Monetary Policy Committee (MPC) decided to maintain the policy rate at 22%. This decision takes into account…
-
SBP keeps policy rate unchanged at 22% against expectations | The Express Tribune
.
[ad_1] KARACHI: The State Bank of Pakistan (SBP) surprised financial markets on Thursday by leaving its benchmark policy rate – the cost of bank lending – unchanged at 22%, against the expectation of an aggressive hike of up to 300 basis points. In a statement, the SBP said that the Monetary Policy Committee (MPC) decided…
-
IMF sets conditions for power bill relief | The Express Tribune
.
[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has urged the caretaker government to improve its power generation system in order to provide relief to Pakistani consumers, while demanding that the government withdraw the subsidy it is providing on gas being supplied to captive power plants (CPPs). The IMF made this demand during its talks with…
-
Pakistan among four Asian countries to lose $65bn textile export earnings amid climate crisis
.
[ad_1] In this photograph taken on April 13, 2023, women work at a garment factory in Savar, on the outskirts of Dhaka. — AFP Extreme heat and flooding are likely to wipe out $65 billion in garment export earnings from four Asian countries by 2030 as they endanger the employees’ health, as per new research.…
-
Petrol price likely to go up by Rs16 per litre | The Express Tribune
.
[ad_1] ISLAMABAD: Amid a backdrop of ongoing economic challenges, including soaring inflation, rupee depreciation against the dollar, inflated utility bills, and escalating prices of essential commodities, Pakistan finds itself on the brink of another significant economic setback. The nation is preparing for a substantial increase in the price of petrol, projected to surge by up…
-
Sweden to eliminate taxes on plastic bags amid concerns of rising environmental waste
.
[ad_1] A dumping ground of plastic bags in Sweden. — AFP Sweden’s right-wing government announced on Wednesday that it planned to scrap taxes on plastic bags as of November 2024, a move that was sharply slammed by environmental organisations. “We’re convinced that the Swedish people use plastic bags wisely in their daily lives and that…
-
High costs and rising rates make homeownership a challenge for young Americans
.
[ad_1] Prospective home buyers leave a property for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. AFP/File Young Americans are finding…
