Business News
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What would happen if Rs5,000 note is banned?
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[ad_1] The rumours regarding a ban on the Rs5,000 note have sparked debate as to what would happen if the government bans the highest denomination note in the country. Two prominent experts — Miftah Ismail and Shabbar Zaidi — shared their divergent views on the matter, just hours after a fake notification fuelled rumours among…
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Interim set-up told to step up SOEs’ privatisation | The Express Tribune
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[ad_1] ISLAMBAD: The International Monetary Fund (IMF) has asked the caretaker government to implement the terms of the $3 billion standby arrangement, including reducing costs and speeding up the process of privatisation of public entities. The Washington-based lender has also demanded that 203 government companies should be removed from the ministries and placed under the…
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Forex down to $7.78b | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has reported a marginal 0.89% decline in foreign exchange reserves on a week-on-week basis, with the total now standing at $7.78 billion as of September 1, 2023. This announcement, made by the central bank on Thursday, reveals a decrease of $70 million compared to the previous week’s…
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July interest payments surpass govt income | The Express Tribune
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[ad_1] ISLAMABAD: Interest payments in July increased alarmingly to Rs537 billion, surpassing the federal government’s net income for the month by Rs156 billion. This has raised concerns that the annual debt servicing cost may exceed budget allocations due to rising interest rates. Provisional federal fiscal operations for July, marking the beginning of fiscal year 2023-24,…
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Gold continues downward journey for fourth straight day
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[ad_1] Gold bangles are displayed at a jewellery store in this undated file photo. — AFP KARACHI: The domestic gold prices continued its losing streak for the fourth consecutive day on Thursday, in line with the international rates. According to data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the domestic price of…
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Govt rejects reports of ban on Rs5000 banknote
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[ad_1] A dealer counts banknotes of Rs5000 at a currency market in Pakistan. — AFP/File The Ministry of Information and Broadcasting (MoIB) on Thursday said that there was no ban on the use, possession, and circulation of the banknotes of Rs5000, as being falsely reported on social media. The ministry’s rebuttal of the reports of…
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Toyota Century luxury SUV deals well-driven blow to Bentley Bentayga at surprising price
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[ad_1] Toyota Century SUV luxury. — Toyota/Website In a major automotive industry development, the Japanese automaker Toyota Century SUV has been launched as a £135,000 ($168,760) 4×4 with intimidating dimensions and extensive technological enhancements designed specifically for chauffeur driving. Toyota Century SUV has an imposing squared-off proportion with a design allegedly inspired by a weaving…
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G7 shelves oil cap reviews as prices soar | The Express Tribune
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[ad_1] BRUSSELS: The Group of Seven (G7) and allies have shelved regular reviews of the Russian oil price cap scheme, people familiar with the matter told Reuters, even though most Russian crude is trading above the limit because of a rally in global crude prices. Russian producers have found ways to sell oil using fewer…
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SBP tightens grip on exchange companies | The Express Tribune
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[ad_1] KARACHI: In the midst of an intensified crackdown against foreign currency smuggling and illicit hawala-hundi operations, the State Bank of Pakistan (SBP) has unveiled a series of stringent measures aimed at reforming the currency exchange sector. Currency exchange companies categorised as ‘B’ have been given a three-month ultimatum to either transform into full-fledged exchange…
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Toyota Century deals well-driven blow to rival Bentley Bentayga at surprising price
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[ad_1] Toyota’s first Century SUV luxury 4 BY 4 car. — Toyota Toyota Century’s first SUV has been introduced as a £135,000 ($168,760) 4×4 with intimidating dimensions and extensive technological enhancements designed specifically for chauffeur driving. Toyota laboured to give Century SUV imposing, squared-off proportions with a design allegedly inspired by a weaving shuttle, with…
