Business News
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Conditions for $10b refinery project met | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has taken a significant step towards commencing the construction of the $10 billion refinery in Balochistan by reaching an agreement with a Chinese company on Thursday, granting it the construction rights for the project. The Pakistan State Oil (PSO) inked a Memorandum of Understanding (MoU) with the Chinese company to secure the…
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Gold prices go up locally amid rise in international market
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[ad_1] A shopkeeper sets gold jewellery at his store in Rawalpindi in this undated file photo. — AFP/File KARACHI: International rates of gold pushed prices in the local market by more than Rs2,000 per tola on Thursday. The price of gold (24 carats) gained Rs2,600 per tola and Rs2,230 per 10 grams to settle at…
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Weekly inflation rises by 3.73% | The Express Tribune
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[ad_1] ISLAMABAD: Inflation in the last week surged by 3.73% brining the annual rate to a record high of 29.21%, according to the Pakistan Bureau of Statistics (PBS) on Thursday, highlighting the severity of the current economic situation in the country. The PBS report stated that within the last week, the prices of 20 key…
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Bulls toss KSE-100 index over 47,000-mark — highest in 21 months
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[ad_1] A stockbroker looks at the latest share prices at the Pakistan Stock Exchange (PSE) in Karachi on February 3, 2023. — AFP Shares at the Pakistan Stock Exchange (PSX) rallied past the 47,000 mark Thursday to a 21-month high on optimism from the International Monetary Fund (IMF) deal, with analysts expecting the market to…
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Is Mastercard banning cannabis purchase on debit cards?
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[ad_1] Cannabis buds are shown to a customer at a dispensary in Desert Hot Springs, California, on Jan. 1, 2018 – the day recreational marijuana sales became legal in the state. — AFP Mastercard service to buy cannabis through debit cards might be suspended in the United States as the remittance-processing corporation has asked the…
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Govt raises withholding tax rate for non-filers
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[ad_1] A representational image of taxes. — AFP/File To encourage people to file taxes, the Federal Board of Revenue (FBR) has increased the withholding tax rate for non-activate tax filers or those not on the Active Taxpayers List (ATL). According to a Wednesday circular, non-ATL filers will be taxed Rs303 for a bank withdrawal of Rs50,500.…
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China’s EXIM Bank rolls over $2.4bn loan to Pakistan
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[ad_1] Representational image of dollars. — AFP Finance Minister Ishaq Dar announced Thursday that the Export-Import Bank of China (EXIM) has rolled over $2.4 billion to Pakistan. This comes as a sigh of relief for the outgoing Pakistan Democratic Movement-led government as it seeks to meet Pakistan’s debt payments due next year. In a tweet,…
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China has rolled over $2.4b loans for two years: Dar | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar said on Thursday that China’s Export-Import (Exim) Bank rolled over $2.4 billion in loan payments for the next two years. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years,” he announced in a tweet.…
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Gold price in Pakistan falls despite rise in international rates
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[ad_1] A representational image of gold jewellery. — AFP/File Gold price in Pakistan declined by Rs2,400 per tola as the rupee made gains against the US dollar in the interbank market on Wednesday. According to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) on Wednesday, the price of gold (24 carats) declined by…
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US federal reseve raises interest rates | The Express Tribune
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[ad_1] WASHINGTON: The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest US central bank policy rate in 16 years. The rate hike, the Fed’s 11th in its last 12 meetings, set the benchmark overnight interest rate…
