Business News
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Amazon beats earnings expectations in Q1 with help from cloud and ads units
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[ad_1] Amazon beats earnings expectations in Q1 with help from cloud and ads units. AFP/File Amazon reported strong earnings for the first quarter of this year, with its cloud and advertising units helping the company beat expectations despite cautious spending from shoppers and businesses. The company’s shares surged more than 10% following the release of…
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Punjab: ‘alarming youth unemployment revealed | The Express Tribune
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[ad_1] KARACHI: The latest research conducted by Gallup Pakistan and PRIDE has unveiled concerning statistics regarding youth unemployment in Punjab, with an overall unemployment rate of 6.69%. The survey, based on data from the Labour Force Survey 2020-21, highlights gender and regional disparities in unemployment rates. According to the findings, the unemployment rate among females…
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Consumers to get relief under March fuel charge adjustment, says power division
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[ad_1] Pakistani technicians work at a power grid station in Faisalabad .— AFP/File ISLAMABAD: Under the fuel charge adjustment (FCA) as per actual generation recorded in March, a relief of Re0.41 per unit is on the cards for consumers, which are losing their affordability at a cutthroat rate with inflation hitting all-time highs and incomes…
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Gold surges to another all-time high
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[ad_1] A representational image of gold bangles. — AFP/File As the country continues to experience one of its worst economic crisis and a bailout from the International Monetary Fund (IMF) is yet to materialise, the price of gold rose again Thursday to reach a new high. According to data provided by the All Pakistan Sarafa…
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SBP directs banks to remain open on April 29, 30 to facilitate taxpayers
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[ad_1] A representational image. — TheNews/File The State Bank of Pakistan (SBP), on the request of the Federal Board of Revenue (FBR), has directed banks to keep all authorised branches open on April 29 and 30 and extend working hours to facilitate tax collection. In a statement issued Wednesday, the SBP said that all those…
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‘EV prices to come down as sales climb’ | The Express Tribune
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[ad_1] BERLIN: Nearly one in five cars sold globally this year will be electric, with the prices of smaller EV models dropping to rival those of combustion engine cars in North America and Europe by the mid-2020s, the International Energy Agency (IEA) predicted on Wednesday. The agency raised its EV sales forecasts in part because…
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UAE investor acquires majority stake in Summit Bank | The Express Tribune
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[ad_1] KARACHI: UAE-based investor Naseer Abdulla Hussain Lootah has acquired troubled Pakistani bank Summit Bank with the aim of transforming it into a Shariah-compliant institution, according to a notification from the bank to the Pakistan Stock Exchange. The acquisition involved the issuance of 3.98 billion new ordinary shares of the bank to Lootah at a…
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Rupee hits one-month high at 283.39 to a dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee ticked up 0.03%, or Rs0.08, on Wednesday and closed at a one-month high at Rs283.39 against the US dollar in inter-bank market, maintaining its winning streak for the second consecutive working day. The currency market resumed rupee-dollar exchange after five-day-long Eid holidays. On the previous working day on April 20, it…
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Gold reaches new record high of Rs218,650 per tola
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[ad_1] Gold jewellery is displayed at a store in this undated file photo. — AFP Despite the price of gold remaining stable in the international market, the precious metal’s value reached a record high in Pakistan on Wednesday. The price of gold (24 carats) rose by Rs450 per tola and Rs386 per 10 grams to…
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Islamabad assured of Beijing’s continued support
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[ad_1] Chinese Charge d’Affaires Pang Chunxue meets Finance Minister Ishaq Dar on April 25, 2023. — APP As uncertainty regarding the agreement with the International Monetary Fund (IMF) continues, Finance Minister Ishaq Dar was assured Tuesday of the Chinese government’s continued support by Charge d’Affaires Pang Chunxue. In a meeting, Chunxue offered greetings to the…
