Business News
-
China lifts ban on outbound group tours to Pakistan, other countries
.
[ad_1] A file photo of Pakistani (right) and Chinese flags. — AFP Beijing has resumed outbound group tours for its citizens to around 80 countries, including Pakistan, China’s Ministry of Culture and Tourism announced Friday. The move to expand the number of destinations comes as China’s overseas tourism industry has been on a firm…
-
Pakistan stocks rally as KSE-100 jumps over 700 points
.
[ad_1] A stock broker looks at a computer during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on July 31, 2023. — AFP The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) jumped by more than 700 points on Friday after Morgan Stanley Capital International (MSCI) integrated 15 stocks into the…
-
PSX jumps over 1,000 points | The Express Tribune
.
[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) jumped up by 1,000 points to around 48,900 in the early trading hours on Friday. The market invited the outstanding renewed buying from investors after the global stock market index provider Morgan Stanley Capital International (MSCI) announced to add record 15 Pakistani listed companies into its MSCI Frontier Market…
-
Govt doles out billions to MPs at its fag end | The Express Tribune
.
[ad_1] The outgoing government of Prime Minister Shehbaz Sharif has spent 99% of the total public sector development spending during his last six weeks in power on the parliamentarians’ schemes by blocking expenditures on other critical projects. The details showed that since the start of the current fiscal year on July 1, the federal government…
-
Remittances plummet to five-month low in July | The Express Tribune
.
[ad_1] KARACHI: nificant setback as the inflow of workers’ remittances from overseas Pakistanis through official channels dropped to a five-month low of $2 billion in July. This decline has raised concerns about Pakistan’s ability to sustain import payments and manage maturing foreign debt obligations. The State Bank of Pakistan (SBP) reported a 19% decrease in…
-
UK retailer Wilko faces insolvency; thousands feared to lose jobs
.
[ad_1] A sign of British high-street retail chain “Wilko” is pictured, in west London on August 3, 2023. — AFP UK homeware discount retailer Wilko has collapsed into administration, a form of creditor protection that could mean a loss of 12,000 jobs, it said Thursday, as the company could not find any saviour to avert…
-
Tehran rejects Islamabad’s notice on IP gas royalties | The Express Tribune
.
[ad_1] ISLAMABAD: Iran has refused to accept the force majeure notice served to it by Pakistan to suspend the work on the multibillion-dollar Iran-Pakistan (IP) gas pipeline project. Simply put, through the notice Pakistan had expressed its inability to pursue the project as long as the US sanctions on Iran remain in place or Washington…
-
PIA may suffer Rs112b loss this year: CEO | The Express Tribune
.
[ad_1] ISLAMABAD: Pakistan International Airlines (PIA) CEO Air Vice Marshal Amir Hayat on Wednesday said the national carrier was expected to suffer a loss of Rs112 billion in the ongoing year. During a press briefing, the PIA CEO pointed out that the national carrier had sustained a total loss of Rs80 billion in 2022 because…
-
‘US storms, natural disasters push up insurance costs’
.
[ad_1] San Miguel County Firefighters battle a brush fire along Japatul Road during the Valley Fire in Jamul, California, on September 6, 2020. — AFP Economic losses caused by natural disasters totalled $120 billion in the first six months of the year, reinsurance giant Swiss Re said Wednesday, slightly less than last year but sharply…
-
Govt to generate Rs721b by raising power tariff | The Express Tribune
.
[ad_1] ISLAMABAD: The federal government has formulated a strategy to collect an additional Rs721 billion from electricity consumers during the current financial year as per the conditions agreed with the International Monetary Fund (IMF). According to the finance ministry sources, the government has shared its plan with the IMF, aimed at increasing the electricity tariff…
