Business News
-
Unpacking South Asia’s mutual fund landscape | The Express Tribune
.
[ad_1] KARACHI: The mutual funds-to-total banking deposit ratio is a key indicator that measures the percentage of mutual fund assets in comparison to the total banking deposits in a country. It is used to assess the level of investment in mutual funds as opposed to the traditional banking products. A regional comparison of Pakistan, India,…
-
Saudi Aramco records $161 billion profit for 2022
.
[ad_1] A general view of Saudi Aramco’s Abqaiq oil processing plant. — AFP/File RIYADH: Saudi Aramco said on Sunday it achieved “record” profits totalling $161.1 billion last year, drawing an outraged response from activists warning about the ravages of climate change. The mostly state-owned energy giant, the world’s second most valuable company behind Apple, said…
-
A nation for the rich, by the rich | The Express Tribune
.
[ad_1] By ALI ASAD SABIR/Abdul Rehman Nawaz | Design: Mohsin Alam PUBLISHED March 12, 2023 KARACHI: Pakistan’s Defence Minister Khawaja Asif recently shed light on the existence of over 200 golf courses built on government-owned lands, exclusively for the country’s elite. Speaking out on this issue, he pointed out that if these lands were to…
-
Second-largest bank failure in US history sparks cryptocurrency chaos
.
[ad_1] An illustration picture taken in London on May 8, 2022, shows a gold plated souvenir cryptocurrency Tether (USDT) coin arranged beside a screen displaying a trading chart. – Tether (USDT) is an Ethereum token known as a stablecoin that is pegged to the value of the US dollar, and is currently the largest stablecoin…
-
Ex-finance minister sees economy in ‘trouble for next few months’
.
[ad_1] As the nation continues its struggle to find a way forward, former finance minister Miftah Ismail — without giving a clear time period — warned that the economy would remain deep in the woods for the next few months more. In an exclusive interview with Geo.tv, the Pakistan Muslim League-Nawaz (PML-N) leaders were asked to…
-
US lawmakers discuss SVB collapse with Fed | The Express Tribune
.
[ad_1] BENGALURU: United States (US) lawmakers met with the Federal Reserve and Federal Deposit Insurance Corporation on Friday to discuss the collapse of Silicon Valley Bank (SVB) Financial Group, Coindesk reported on Saturday citing a source. Democratic US Representative Maxine Waters held briefings with officials from the two regulators and the Treasury Department, hours after…
-
Gold bounces back in line with international market
.
[ad_1] An undated image of gold bars. — AFP Gold price in Pakistan regained its shine on Saturday as the rate rose over Rs1,000 in the local bullion market owing to a significant surge in the international market. According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) rose by…
-
Pakistan business delegation to participate in Bangladesh Business Summit
.
[ad_1] The Bangladesh Business Summit will be inaugurated by Prime Minister Sheikh Hasina on March 11, 2023. Twitter/marco4gione DHAKA: A 46-member business delegation from Pakistan, organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), is expected to participate in the three-day “Bangladesh Business Summit” in Dhaka from 11-13 March 2023. The delegation…
-
Silicon Valley Bank’s collapse sends shockwaves through global banking industry
.
[ad_1] The four biggest US banks lost a whopping $52 billion in market value on Thursday. AFP/File SANTA CLARA: US regulators pulled the plug on Silicon Valley Bank on Friday in a spectacular move that sent global banking shares into turmoil, as markets fretted over possible contagion from America’s biggest banking failure since the 2008…
-
Rupee makes recovery of 0.54% to Rs280.77 a dollar | The Express Tribune
.
[ad_1] KARACHI: Amid optimism over the revival of the International Monetary Fund (IMF) loan programme, the volatile Pakistani rupee made a notable recovery of 0.54%, or Rs1.53, to close at Rs280.77 against the US dollar in the interbank market on Friday. Earlier, in the prior two consecutive days, the local currency had cumulatively lost 1.57%,…
