Business News
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Russian ruble drops to 17-month low
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[ad_1] A view of the Moscow Exchange office in Moscow on March 24, 2022. — AFP/File The Russian ruble slid past 100 against the US dollar on Monday, its lowest level since March 23, 2022 — shortly after Moscow launched its military operation in Ukraine. Data from the Moscow Exchange showed the ruble trading at…
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Of rising oil prices and the devaluing rupee | The Express Tribune
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[ad_1] KARACHI: There’s an old adage that says, ‘Prepare for the worst and hope for the best.’ As Pakistan faces the twin challenges of rising oil prices and a declining rupee, this wisdom could not be more relevant. Being a nation that imports energy products, Pakistan annually incurs substantial costs, which amounted to $17 billion…
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How IMF sees Pakistan’s economy in the near future – Part I | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy has become a major topic of discussion, dominating coffee table conversations and boardroom debates alike. Never before have I witnessed the common folk engaging in discussions about economic intricacies and key indicators with such vivid detail. Given our psychological predisposition for mythological interpretations and our natural inclination for storytelling, each of…
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Body set up to run affairs of SIFC | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has approved the setting up of a company to run administrative affairs of the Special Investment Facilitation Council (SIFC) in a move aimed at cutting through the red tape to hire skilled manpower for putting the civil-military run council’s work on fast track. The prime minister gave the go-ahead…
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WAPDA adds 8,158MW hydel power to grid | The Express Tribune
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[ad_1] LAHORE: The Water and Power Development Authority (WAPDA) has crossed the 8000 MW mark in hydel electricity generation, contributing 8158 MW to the national grid during peak hours last night. This achievement comes on the heels of the recent resumption of power generation from the 969 MW-Neelum Jhelum Hydropower Project, further bolstering Pakistan’s energy…
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Another shock: Diesel may cost Rs24 more | The Express Tribune
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[ad_1] ISLAMABAD: Another oil shock is on the cards as the price of high-speed diesel is expected to be increased by Rs24 per litre effective from August 16, 2023, which will fuel a new wave of inflation that is already at significantly higher levels. As international oil prices surge, Pakistan may raise prices of petroleum…
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Ateeq-ur-Rehman takes charge as GroupM Pakistan’s CEO
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[ad_1] GroupM Pakistan CEO Ateeq-ur-Rehman. — Press release GroupM Pakistan on Saturday announced the appointment of Ateeq-ur-Rehman as the company’s chief executive officer (CEO). In a statement issued by Group M — which is a leading media investment management company in Pakistan and worldwide — the appointment of new CEO is carried out with immediate effect. “Ateeq…
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Gold loses shine in Pakistan as price drops by Rs600
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[ad_1] An undated image of gold bars. — AFP/File KARACHI: The prices of gold witnessed minute losses on Saturday as the rates fell by Rs600 per tola after the international rates of the bullion saw a decline. The price of gold (24 carats) lost Rs600 per tola and Rs514 per 10 grams to settle at…
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Experts share rewards and risks of new IMF programme | The Express Tribune
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[ad_1] ISLAMBAD: Pakistani experts are cautiously embracing the International Monetary Fund (IMF) programme, as the new $3 billion agreement offers immediate relief from the threat of default. However, independent analysts and stakeholders in Pakistan remain sceptical about the programme’s potential for large-scale impact and its political implications. While speaking to The Express Tribune, a representative…
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SECP records 25% rise in company registrations | The Express Tribune
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[ad_1] ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,220 new companies in July 2023, reflecting a substantial 25% increase from the previous year. The collective capitalisation for these newly registered entities amounted to Rs3.3 billion. The total count of registered companies in the nation has risen to an impressive 197,828, as…
