Business News
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Dar briefs Blome about IMF deal | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar on Wednesday briefed US Ambassador Donald Blome about successfully reaching the staff-level agreement with the International Monetary Fund (IMF). According to a statement issued by the finance ministry, the discussion was made via phone call in a meeting between the US ambassador with the finance minister. The two exchanged views about…
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Middle Eastern firms push IPO plans to 2024 | The Express Tribune
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[ad_1] DUBAI: Several Middle Eastern companies are planning initial public offerings (IPOs) in 2024 instead of this year, a senior Bank of America executive said, amid worries of a global recession. The global IPO market has been in the doldrums since the start of the Russia-Ukraine conflict in 2022 and a spike in inflation dampened…
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PM Shehbaz says Pakistan to fulfil commitments made to IMF
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[ad_1] Prime Minister Shehbaz Sharif addressing a ceremony in Islamabad, on July 5, 2023, in this still taken from a video. — YouTube/PTVNewsLive Pakistan will fulfill commitments made to the International Monetary Fund (IMF) to secure a short-term financing deal, which helped the cash-strapped nation avert a possible default, Prime Minister Shehbaz Sharif said Wednesday.…
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SBP chief against imposition of Islamic banking | The Express Tribune
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[ad_1] KARACHI: State Bank of Pakistan Governor Jameel Ahmad on Tuesday said that the principles of Shariah would not be forcibly applied to the country’s banking system. He added that the business interests of banks would also be taken into consideration in this case. Addressing a function organised on the completion of 75 years of…
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NEPRA okays Rs1.25 tariff hike | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved an increase of Rs1.25 per unit on account of third quarter adjustments of the financial year 2022-23 for power distribution companies (Discos). The power regulator has burdened the consumers with Rs46.5 billion on account of variation in capacity charges, variable operation and maintenance costs,…
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Airbus unveils new wing development centre for next generation aircraft
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[ad_1] The facility was opened by Nusrat Ghani, UK Minister of State at the Department for Business and Trade. — Air Bus Airbus has unveiled a new wing development centre to further improve the performance of its wings for next generation aircraft amid competition with Boeing which researches an elongated, ultra-light concept called Transonic Truss-Braced…
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Tech industry cites AI reason behind major layoffs
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[ad_1] This representational picture shows a guy walking past a display depicting AI. — AFP/File The tech industry, which created artificial intelligence, has laid thousands of people in just 2023 due to AI being the reason behind it. AI has already set the alarm bells ringing with its possible takeover of jobs but it already…
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Logistic companies struggle to achieve economic growth | The Express Tribune
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[ad_1] KARACHI: Logistic companies in Pakistan are grappling with low margins, high taxes, and an unfavourable business environment, hindering their ability to contribute to the overall economic growth of the country. Seagold, CEO, Ayaz Admani highlighted the concerning decrease in average gross margins for Pakistani companies. In recent years, margins have plummeted from 3% to…
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Gold falls by over Rs2,000 as rupee strengthens
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[ad_1] The picture shows gold bangles on display. — AFP/File KARACHI: The prices of gold in the local market fell on Tuesday for the second time this week as the rupee showed a rich recovery against the dollar after the International Monetary Fund (IMF) deal. The price of gold (24 carats) decreased by Rs2,200 per…
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Rupee makes massive gains in interbank market
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[ad_1] Money dealers count Pakistani rupees and US dollars at an exchange in Islamabad. — AFP/File KARACHI: The Pakistani rupee on Tuesday further strengthened in the interbank market, a day after making a rich recovery against the dollar following the much-awaited deal with the International Monetary Fund (IMF). The country on Friday secured a $3…
