Business News
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Logistics startup Trax raises $3.7 million in seed funding
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[ad_1] A delivery rider of Pakistani startup Trax. — Trax/File A delivery startup, Trax, on Friday announced that it has raised $3.7 million funding in an early seed round as it seeks to benefit from growth in the South Asian country’s…
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Toyota manufacturer ‘completely’ shutdown plant till March 27
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[ad_1] Toyota logo is seen at a Toyota Society Motors showroom. — AFP For the second time in the ongoing calendar year, Indus Motor Company (IMC), the maker of Toyota vehicles in Pakistan, Friday announced its decision to completely shutdown…
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OGRA accused of flouting price mechanism | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) and oil marketing companies (OMCs) are locked in a tug of war over the recovery of exchange rate losses on imports, which have put the latter on the verge of collapse….
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Pakistan, China scientists to combat citrus diseases | The Express Tribune
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[ad_1] BEIJING: Chinese and Pakistani scientists are collaborating to develop biological control measures to enhance the quality and quantity of citrus fruit in Pakistan. A research centre was launched by the two countries in 2018 to jointly explore green and…
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SBP-held reserves rise to $4.6bn on Chinese loan
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[ad_1] An undated image of a currency dealer holding $100 notes. — AFP The State Bank of Pakistan (SBP)-held foreign exchange reserves maintained their uptrend for the sixth consecutive session, rising $280 million during the week ended March 17. Foreign…
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China rolls over $2b in SAFE deposits | The Express Tribune
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[ad_1] ISLAMABAD: China has granted Pakistan a rollover of $2 billion in State Administration of Foreign Exchange (SAFE) deposits for a period of one year — helping the country in meeting one of the requirements set by the International Monetary…
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Headway in bailout talks hinges on financing assurances, IMF says
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[ad_1] A man walks past the International Monetary Fund (IMF) logo. Reuters/File The International Monetary Fund (IMF) on Friday said a headway in the loan revival talks with Pakistan was critically contingent upon prompt financing assurances from bilateral loaners as…
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Yearly inflation hits another peak at 46.65% | The Express Tribune
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[ad_1] ISLAMABAD: The yearly short-term inflation rose by 46.65% – highest ever in the country’s history – measured on the basis of the Sensitive Price Index (SPI) during the week that ended on March 22, the Pakistan Bureau of Statistics…
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Pakistan’s cotton yield 50% lower than region | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is facing a sharp decline in cotton production as its per-acre yield has contracted to just half of the cotton productivity in regional countries. Owing to thin profit margins for cotton planting, farmers have switched over to…
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Consumers brace for hardship as SSGC announces Ramadan gas timings
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[ad_1] An undated image of women lightening up a stove. — Online/File In order to facilitate the people of Pakistan, the Sui Southern Gas Company (SSGC) announced on Wednesday that gas will be provided to consumers during Iftar and Sehr…
