Business News
-
Rupee weakens against dollar amid ambiguity on IMF talks
.
[ad_1] A representational image of a currency dealer counting Rs500 notes. — AFP/File The Pakistani rupee lost ground on Thursday against the US dollar in the interbank market after following the International Monetary Fund’s disapproval of the circular debt management plan. The rupee depreciated by Rs2.52 to settle at Rs271.35 at the close of the…
-
Adani group’s market losses hit $100b as stocks sink | The Express Tribune
.
[ad_1] NEW DELHI: India’s Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week’s short-seller attack. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marks a dramatic setback for Adani, the school…
-
PM allows 150% executive allowance for aggrieved officers | The Express Tribune
.
[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday announced giving 150 per cent executive allowance to leftover officers serving at the Pakistan Secretariat in an effort to end a sense of discrimination in the bureaucracy caused by a tailor-made notification of the finance ministry. The annual impact of ending the unequal distribution of funds was…
-
Gold price rises in Pakistan
.
[ad_1] An undated photograph of gold bullions. — AFP/File Gold price in Pakistan has surged after the economic crisis-hit country witnessed record-high inflation in January. Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) increased by Rs3,500 per tola and Rs3,000 per 10 grams to…
-
Rupee remains stable as IMF talks progress
.
[ad_1] People enter a money changer shop in the blue area in Islamabad on January 26, 2023. — Online KARACHI: The Pakistani rupee on Thursday remained stable against the dollar as the market is looking for direction amid the government’s ongoing tough parleys with the International Monetary Fund (IMF). US dollar closed at Rs268.83 in…
-
January inflation jumps to highest since May 1975
.
[ad_1] A vendor splashes water on vegetables to keep them fresh in Quetta on October 27, 2022. — INP/File Amid food supply constraints and a significant surge in the prices of petroleum products, Pakistan’s consumer price index (CPI) based inflation escalated to a record high in January. Consumer prices rose 27.6% compared to 13% in…
-
Inflation rises to 48-year high as IMF visits | The Express Tribune
.
[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
-
Inflation rises to 48-year high as IMF visits | The Express Tribune
.
[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
-
IMF seeks political consensus for revival of $6.5b bailout | The Express Tribune
.
[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Tuesday expressed concerns that the opposition might create hurdles in the way of implementing tough economic decisions, urging the government to meet all the “requirements” for the completion of the much-delayed programme review. Nathan Porter, the visiting mission chief of the IMF, raised the question about the…
-
Toyota manufacturer shuts down plant for two weeks
.
[ad_1] A worker is fixing gate of a car at an auto manufacturing unit. — AFP/File In view of “insufficient inventory levels”, Indus Motor Company (IMC), the maker of Toyota vehicles, has decided to “completely” shut down its production plant in Pakistan from February 1 to 14. In a letter addressed to the general manager of…
