Business News
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SBP abolishes 1.5% fee on debit, credit card transactions | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has abolished the mandatory minimum fee of 1.5%, which was being charged by banks from merchants on financial transactions done through debit and credit cards, and allowed financial institutions to charge even…
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UBS under pressure to take over Credit Suisse | The Express Tribune
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[ad_1] ZURICH: UBS AG was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse, sources said, a move that could allay fears that an unfolding crisis may destabilise the global banking system. The 167-year-old Credit Suisse is…
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Gold price rises by 2% in Pakistan
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[ad_1] An undated image of gold jewellery displayed at a store. — AFP/File In view of the ongoing political unrest in the country, the price of per-tola gold surged by 2% as investors flee to safe-haven assets. According to data…
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Russian crude oil to arrive in Pakistan next month
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[ad_1] An undated image of Minister of State for Petroleum Dr Musadik Malik addressing a press conference. — APP/File Minister of State for Petroleum Dr Musadik Malik said the first consignment of crude oil from Russia will arrive in the…
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Petroleum product import falls 5% to $1.26b | The Express Tribune
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[ad_1] KARACHI: Pakistan’s import of petroleum products, which is the largest contributor to its total import bill, has decreased by 5% to $1.26 billion in February compared to the previous month of January, according to official data reported on Friday….
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Pakistan receives another $500 million from Chinese bank
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[ad_1] A man counts $100 notes. — AFP/File Pakistan has received $500 million from a Chinese bank as part of the $1.3 re-financing facility, Minister for Finance and Revenue Senator Ishaq Dar said Friday, as the nation grapples with one…
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Still importing to ‘Make in Pakistan’ | The Express Tribune
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[ad_1] The “Make in Pakistan” mobile phones dream seems to have fallen flat, despite tax benefits of over Rs46 billion given in the last fiscal year, as the government has failed to ensure localisation of mobile handsets manufacturing in violation…
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Gold price rises for sixth session, rate surges above Rs204,000 per tola
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[ad_1] An undated image of gold jewellery showcased at a jewellery store. — AFP/File Gold edged lower on Friday, extending gains to a sixth straight session, as deteriorating economic indicators bolstered demand for the precious commodity. According to the data…
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Pak Suzuki halts motorcycle production till March 31
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[ad_1] An undated image of a bike produced by Pak Suzuki Motor Company. — AFP Pak Suzuki Motor Company (PSMU) on Friday announced its decision to shut down its motorcycle plant for 12 days, citing a shortage of inventory as a…
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Pakistan receives $500m from China’s ICBC bank | The Express Tribune
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[ad_1] KARACHI: Pakistan has received a loan tranche from China of $500 million that will help the country shore up its depleting foreign exchange reserves as the government battles an ongoing economic crisis. Finance Minister Ishaq Dar confirmed the receipt…
