Business News
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April remittances decrease 29% to $2.2 billion
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[ad_1] This undated file photo shows US dollar banknotes. — AFP/File After hitting a seven-month high in March, remittances sent by overseas Pakistanis decreased to $2.21 billion in April — down 29% year-on-year, the State Bank of Pakistan (SBP) shared…
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Rupee plunges 5.38 against dollar to fresh low
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[ad_1] A currency exchange dealer counts $100 bills. — AFP/File As political uncertainty intensified across the country Wednesday following the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, the exchange rate was also affected, with the rupee falling to a…
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Germany announces €163m aid for Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: German Parliamentary Minister for Economic Affairs Niels Annen on Tuesday announced economic assistance worth 163 million euros for Pakistan. He made this announcement during his meeting with Economic Affairs Minister Sardar Ayaz Sadiq, saying the assistance would be…
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Petrol subsidy: Pakistan ‘determined’ to address IMF concerns
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[ad_1] Pakistan aims to address the International Monetary Fund’s (IMF) concerns about a proposed fuel subsidy plan prior to its implementation, in a bid to revive a stalled loan programme that is crucial for the country’s economic stability, Bloomberg reported…
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Men’s garments export to China rises 29% in Q1 | The Express Tribune
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[ad_1] BEIJING: Pakistani men’s garment exports to China showed a significant growth of 29% in the first quarter of 2023. “This growth can be attributed to Pakistan’s strong manufacturing capability and high quality of its garments,” said Ghulam Qadir, Commercial…
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Oil, gas firms post profits in face of debt | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s state-run oil and gas companies are facing a serious challenge of circular debt that is putting the oil and gas supply chain and their future investment plans at stake. Despite witnessing growth, the companies are struggling to…
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Gold rate in Pakistan jumps to all-time high amid political uncertainty
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File As investors’ attention shifted to the safe-haven bullion due to the political uncertainty that ensued after the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran…
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Moody’s warns Pakistan could default without IMF bailout | The Express Tribune
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[ad_1] Moody’s Investors Service warned that Pakistan could default without an International Monetary Fund (IMF) bailout as the country faces uncertain financing options beyond June, reported Bloomberg on Tuesday. “We consider that Pakistan will meet its external payments for the…
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ECC approves 21% hike in rates of cardiac stents | The Express Tribune
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[ad_1] ISLAMABAD: The government on Monday approved up to 21% increase in the prices of lifesaving cardiac stents and also sanctioned Rs8.4 billion additional budget for the Ministry of Foreign Affairs – the two decisions that reflect the adverse impacts…
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Fear of floods: ADB vows to help Pakistan build climate-resilient infrastructure
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[ad_1] Staff members of the Asian Development Bank step out of the Manila-based lender’s headquarters on February 17, 2009. — AFP/File Amid fears of flooding in the coming months, the Asian Development Bank (ADB) expressed commitment to help build the…
