Business News
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Zubair Tiwana set to be appointed as FBR chief
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[ad_1] Malik Amjad Zubair Tiwana. — FBR/File ISLAMABAD: A grade-21 officer from the Inland Revenue Service (IRS), Malik Amjad Zubair Tiwana, is the potential candidate to assume the charge of the new Federal Board of Revenue (FBR) chairman, Geo News reported citing sources on Tuesday. According to a summary, three names were suggested for consideration including Rashid…
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Govt jacks up petrol prices by whopping Rs19.95 | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar on Tuesday said that petroleum prices were being jacked up by a staggering Rs19.95 per litre. The minister said that the decision was made “in the national interest” as he announced that the cost of High-Speed Diesel (HSD) was being increased by Rs19.90 to dial in at Rs273.40 per litre…
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SBP maintains record high policy rate | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has announced its decision to keep the benchmark policy rate unchanged at a record high of 22% for the next six weeks, as it projects a moderate economic growth range of 2-3% for the current fiscal year 2024. SBP Governor Jameel Ahmad, speaking at a press conference…
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Gold prices fall by over Rs2,000 per tola as week starts
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[ad_1] A representational image of gold jewellery. — AFP/File KARACHI: The rates of gold in the local market fell by over Rs2,000 per tola in line with the developments in the international market on Monday. The price of gold (24 carats) lost Rs2,500 per tola and Rs2,143 per 10 grams to settle at Rs222,200 and…
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SBP maintains interest rate at 22%
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[ad_1] SBP Governor Jameel Ahmed is addressing the media following the MPC meeting in this still taken from a video on July 31, 2023. — YouTube/GeoNews Against the expectations of analysts, the central bank on Monday decided to keep the interest rate unchanged at 22%. amid “decline in inflation”. The decision was announced by SBP…
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SBP keeps key policy rate unchanged at 22% | The Express Tribune
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[ad_1] KARACHI: The central bank on Monday announced that the key policy rate – the cost of banks’ lending – would remain unchanged at 22 per cent. Notably, in its first meeting after a new loan programme by the IMF, the SBP was scheduled to review its key policy rate today. It was to assess whether…
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PSX registers massive gains to hit 24-month high
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[ad_1] Brokers monitor an index board showing latest share prices at the Pakistan Stock Exchange in Karachi on January 26, 2023. — AFP Shares at the Pakistan Stock Exchange (PSX) rallied past the 48,000 mark Thursday to a 24-month high on positive cues, with market experts expecting the momentum to continue. Bulls took over the…
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UAE to establish anti-money laundering bodies amid global monitoring
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[ad_1] A currency dealer counting UAE dirham. — AFP/File The United Arab Emirates revealed its plans to set up judicial bodies for prosecuting money laundering and financial crimes in the wake of heightened monitoring by a global anti-illegal cash flow organisation. According to the official Emirates News Agency (WAM), the UAE has greenlit a “proposal…
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PSX surges over 1000 points over Gulf investment optimism | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market soared by over 2%, or over 1,000 points, to a two-year high at 48,000 points in early trading on Monday. Pakistan Stock Exchange (PSX) has maintained the powerful rally over “optimism of investment from Saudi Arabia and UAE along with the Pakistan Mineral Summit helping investors confidence,” Topline Securities CEO Muhammad…
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Prospects of expanding solar PV capacity | The Express Tribune
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[ad_1] ISLAMABAD: The government has ambitious programmes for installing solar PV capacities. Fossil-based electricity is expensive, has availability issues and requires foreign exchange, which we don’t have. Current load-shedding is also due to the lack of foreign exchange to buy fuel than the generation or transmission capacity. So, the idea of expanding solar appears to…
