Business News
-
Will unwarranted rate increase solve problems? | The Express Tribune
.
[ad_1] KARACHI: The State Bank of Pakistan (SBP) is mulling over monetary policy decision this week. The economic contraction is so severe that this entire fiscal year will be marred with economic, social and political chaos. Entire population – educated or not – is either discussing dollar rate or inflationary trends in fuel and food…
-
Govt mulls ordinance to digitise economy | The Express Tribune
.
[ad_1] ISLAMABAD: In an effort to digitise the economy, the interim government is planning to bring legislative and administrative changes, besides empowering the Ministry of Information Technology to play the role of a data-gathering agency to broaden a narrow tax base of 4.2 million filers. Sources told The Express Tribune that various proposals to increase…
-
Chevron pulls crew from Australia project | The Express Tribune
.
[ad_1] BENGALURU: Chevron Corp started withdrawing contractor workers from its Gorgon liquefied natural gas (LNG) facility on Saturday, shortly after staff went on strike at two major projects in Australia, a union coalition said. “Chevron chartered a special flight this morning to Barrow Island to evacuate 50 blue and white collar contract crew off the…
-
Retailers warn of Rs3.5tr loss in sales | The Express Tribune
.
[ad_1] LAHORE: Retail store chains in the country, while opposing the government’s decision of early market closure, have proposed alternative measures to ensure balanced energy conservation. They caution that any reduction in retail peak hours will slash their revenue by 30% and cause sales losses of Rs3.5 trillion. Besides, about Rs300 billion may be lost…
-
Over $40m diaspora investment announced | The Express Tribune
.
[ad_1] ISLAMABAD: The United States announced the mobilisation of more than $40 million in new US-Pakistani diaspora investment at the United States Agency for International Development (USAID) “Invest in Pakistan” conference on Saturday. Four diaspora partners concluded four new memoranda of understanding (MoUs) with USAID valuing at $44 million, increasing total diaspora commitments to nearly…
-
IT minister vows to ensure $1bn investment for startups
.
[ad_1] Caretaker Minister for Information Technology Umar Saif addresses the event. Caretaker Minister for Information Technology Umar Saif on Saturday announced that the government would establish a “Venture Capital Fund” to encourage international ventures and hoped that $1 billion investment would be ensured via the fund. He made the remarks during a MOU signing ceremony…
-
Oil up at 9-month high | The Express Tribune
.
[ad_1] NEW YORK: Oil prices rose about 1% to a nine-month high on Friday on rising US diesel futures and worries about tight oil supplies after Saudi Arabia and Russia extended voluntary cuts this week. Brent futures rose 76 cents, or 0.9%, to $90.68 a barrel by 1608 GMT. US West Texas Intermediate (WTI) crude…
-
Iran seeks extension in gas pipeline deal | The Express Tribune
.
[ad_1] ISLAMABAD: As the threat of billions of dollars in penalty looms, Iran has asked Pakistan to extend their gas pipeline deal to keep the project alive in future. Pakistan and Iran have not been able to execute the Iran-Pakistan (IP) gas pipeline project because of longstanding US sanctions against Tehran over the latter’s alleged…
-
Nepra okays Rs1.46 per unit FCA in September electricity bills
.
[ad_1] National Electric Power Regulatory Authority (Nepra). — APP/File ISLAMABAD: As protests continue over sky-high electricity bills, the National Electric Power Regulatory Authority (Nepra) on Friday allowed the power distribution companies to charge Rs1.46 per unit on account of fuel charges adjustment (FCA) to consumers for the month of July in the bills they would…
-
Gold continues downward journey in Pakistan for fifth straight day
.
[ad_1] An updated image of gold jewellery displayed at a store. — AFP Prices of gold in the domestic market remained under pressure and continued their free fall for the fifth consecutive day on Friday. According to data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of the yellow metal (24…
