Business News
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Rupee hits historic low as import pressure mounts | The Express Tribune
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[ad_1] KARACHI: Pakistani currency hit a new historic low at Rs299 against the US dollar in the inter-bank market on Tuesday, making imports further expensive and requiring more resources to repay foreign debt. According to State Bank of Pakistan’s (SBP) data, the currency depreciated by 0.63%, or Rs1.88, to Rs299.01 against the greenback. Talking to…
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PDM govt installed SNGPL board in violation of law | The Express Tribune
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[ad_1] ISLAMABAD: The last Pakistan Democratic Movement (PDM) government illegally replaced five independent directors of Sui Northern Gas Pipelines Limited (SNGPL) towards its fag end without holding their elections, creating a legal challenge for the firm. The matter suddenly got attention this week after the Lahore High Court (LHC) granted an interim injunction a day…
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Rupee slides to all time low of 299 against dollar
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[ad_1] A currency exchange dealer counting $100 bills in this undated picture. — AFP Rupee dropped to an all-time low of 299.01 against the US dollar on Tuesday, depreciating by 0.63% in the interbank market owing to an increase in demand for the greenback due to ease in import restrictions. The local currency fell by…
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Call of Duty: Microsoft takes new shot at Activision Blizzard deal
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[ad_1] A person plays ‘Call of Duty’ on a mobile phone at the Gamescom video game fair in Cologne, Germany. — AFP/File After the rejection of a previous version of the transaction, tech giant Microsoft has submitted a new plan to Britain’s competition watchdog to buy the Call of Duty creator, Activision Blizzard, officials said…
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Rupee touches all-time low of 299 against USD | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency briefly touched an all-time low at Rs299 against the US dollar in the inter-bank market on Tuesday. The latest dip in the rupee’s value will make imports further expensive and more resources will be required to repay maturing foreign debt. The local currency weakened against the greenback in the wake…
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SIFC to help fast-track foreign direct investment | The Express Tribune
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[ad_1] ISLAMABAD: A cabinet member in the previous Pakistan Democratic Movement (PDM) government raised questions over empowering the Special Investment Facilitation Council (SIFC) for conducting transactions. Sources told The Express Tribune that during discussions in a cabinet meeting, chaired by former prime minister Shehbaz Sharif, a member while endorsing the spirit of legislation, observed that…
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Gold rates gain over Rs3,000 per tola as rupee takes a hit
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[ad_1] The picture shows gold necklaces. — AFP/File KARACHI: Gold rates saw a major increase in Pakistan on Monday as the rupee took a hit against the dollar while the international prices also saw a minor gain. The price of gold (24 carats) increased by Rs3,100 per tola and Rs2,658 per 10 grams to settle…
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Rupee sheds over Re1 in interbank market
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[ad_1] A currency exchange dealer counts $100 bills in this undated picture. — AFP/File Rupee on Monday depreciated by over Re1 against the dollar in the interbank market. According to the State Bank of Pakistan (SBP), the rupee closed at Rs297.13 against the dollar compared to Friday’s close of Rs295.78. The local currency depreciated Rs1.35…
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Stocks dragged down by nearly 780 points over investor pessimism | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) on Monday dived into the red zone as the KSE-100 index was marked by collective pessimism over the latest round of rupee depreciation coupled with disclosure of President’s statement regarding refusal to sign the Pakistan Army and Official Secrets Bills law. The market began on a positive note…
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Institutional capacity: The most critical missing essential | The Express Tribune
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[ad_1] We hear a lot about our economic potential but seldom about the abject lack of capacity to create value from the same. The deficiency can be traced to a gross anomaly that the institutions driving the economy are primarily driven by bureaucrats; a role which in the current era of knowledge-based economies has long…
