Business News
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PSX crashes as rupee continues to struggle against USD | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market crashed on Thursday while the rupee also maintained its downturn amid rising concerns related to stagflation and a deepening economic crisis. Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index dropped by over 1,750 points or almost 3.8%, slipping well below 44,500 points. Speaking to The Express Tribune, Topline Securities CEO…
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Rupee at new low as losing streak continues | The Express Tribune
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[ad_1] KARACHI: As efforts continued to narrow the gap between exchange rates, Pakistani rupee hit a new all-time low at Rs304.45 against the US dollar in the inter-bank market on Wednesday, stoking fears that inflation would remain at elevated levels and dent economic activities. According to the State Bank of Pakistan’s (SBP) data, the rupee…
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European stock markets deviate as rally dwindles
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[ad_1] A screeN displays CAC stock points at the headquarters of Pan-European stock exchange. — AFP The stock markets in Europe have diverged following a global stock rally decrease on Wednesday, concerning businesses over unvaried highs and lows in accordance with stock prices. Approaching the halfway mark, London rose while Frankfurt and Paris fell. Tokyo…
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IMF seeks details as Pakistan mulls relief in electricity bills amid protests
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[ad_1] The International Monetary Fund headquarters in Washington, DC, on April 13, 2023. — AFP ISLAMABAD: After the government decided to seek approval from the International Monetary Fund (IMF) about its proposal to provide relief to its furious citizens over a hike in electricity bills, the Washington-based lender has asked Islamabad to submit a written…
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Govt faces IMF delay over bill crisis | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Tuesday did not immediately approve Pakistan’s request for recovering August’s electricity bills over a period of six months amid raging protests in many parts of the country that continued for the fifth day running against back-breaking bills. Adding more vigour to the protests, the traders’ community also…
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Despite crackdown, rupee touches new low | The Express Tribune
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[ad_1] KARACHI: Despite government’s claim of having launched a crackdown on foreign currency smugglers, Pakistani currency hit a new historic low at Rs303.05 against the US dollar in the inter-bank market on Tuesday, maintaining its record-breaking downward spree for the sixth consecutive working day. The State Bank of Pakistan (SBP) reported that the domestic currency…
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Economic committee weighs belt-tightening measures | The Express Tribune
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[ad_1] ISLAMABAD: Amid significant risks to the official budget deficit target due to higher-than-budgeted spending on interest payments, a cabinet body on Tuesday discussed further tightening of the belt by slashing development spending, particularly expenses on provincial schemes. In the inaugural meeting of the Cabinet Committee for Economic Revival (CCoER), the interim Finance Minister, Dr…
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Google outs enterprise AI tools day after OpenAI unveils ChatGPT for big businesses
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[ad_1] A video from a Google launch event—Youtube@AIRevolution Google has unveiled a swath of fresh artificial intelligence (AI) technology and partnerships and AI enterprise tools for big businesses just a day after OpenAI announced their ChatGPT enterprise tool. The announcements, made at the company’s Google Next conference in San Francisco, include new customers for its…
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Toyota system failure: Halted production in Japan plants to restart tomorrow
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[ad_1] (FILES) This picture was taken on October 31, 2022, shows the logo of Toyota Motor being displayed atop the company´s head office in Tokyo.—AFP Toyota Motor will restart production at its assembly plants in Japan on Wednesday after a production system malfunction brought domestic output to a halt at the world’s biggest-selling automaker. The…
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Chipotle slapped with over $300,000 fine in child labour law violations
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[ad_1] A Chipotle restaurant and signage is seen on February 09, 2022 in Miami, Florida. — AFP/File Chipotle, a fast-casual restaurant, will have to pay over $300,000 after an investigation initiated by the Office of the Attorney General (OAG) revealed violations of child labour laws in the District of Columbia (DC). Attorney General Brian L Schwalb…
