Business News
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Call for charter of economy | The Express Tribune
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[ad_1] ISLAMABAD: Last week, Finance Minister Ishaq Dar repeated his call for a charter of economy and isolating the economic realm from politics during his conversation at Pakistan Prosperity Forum. One can say that all economic policies are political choices as they create winners and losers, therefore the call for the charter of economy has…
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Average wages and labour productivity | The Express Tribune
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[ad_1] LAHORE: For the outgoing fiscal year, the inflation target was set at 8% by the government. However, abnormal increases in global commodity prices, especially crude and edible oil, pushed up domestic prices, as Pakistan is a net importer of these essential items. According to the seventh chapter of Pakistan Economic Survey 2021-22, the Consumer…
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The world of one-tap payments | The Express Tribune
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[ad_1] PUBLISHED December 18, 2022 KARACHI: Some years ago, one could not have imagined that sending money to loved ones would literally be at the tip of one’s fingers, because for a long time, writing out a cheque or running to an ATM were the only options available. Considering that the lower-middle class or the…
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Innovation in seven simple steps | The Express Tribune
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[ad_1] PUBLISHED December 18, 2022 KARACHI: Innovation is not for the faint hearted. It requires grit and tenacity along with a modicum of chutzpah and humor to see you through the most turbulent of times. My decade long journey into low-cost and low-tech “ICE” (Innovation | Creativity | Entrepreneurship) prompted me to bear it all…
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Egypt’s IMF deal to reduce govt debt | The Express Tribune
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[ad_1] CAIRO: The International Monetary Fund’s new $3 billion financial support package for Egypt aims to reduce government debt to less than 80% of gross domestic product (GDP) in the medium term, a cabinet report released on Saturday said. The IMF did not require the Egyptian government to cut spending on subsidies, the report said,…
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Gold hits all-time high in Pakistan as economic woes spur buying frenzy
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[ad_1] — AFP Gold prices in Pakistan surged to a record high as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic condition conditions will deteriorate further. For the first time in the history of Pakistan, per tola price surpassed the Rs172,000 mark. The prices surged by Rs800 per tola…
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LC restrictions crippling industries | The Express Tribune
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[ad_1] KARACHI: The non-issuance of letters of credit (LCs) is crippling industrial activities, leading to massive unemployment as companies are unable to import the raw material necessary to keep their manufacturing wheel running. Karachi Chamber of Commerce and Industry (KCCI) President Mohammed Tariq Yousuf, while expressing deep concern over the non-issuance of LCs and a…
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SOEs in Reko Diq deposit $562.5m | The Express Tribune
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[ad_1] KARACHI: Pakistan’s three state-owned entities (SOEs), having 25% stake in Reko Diq project in Balochistan, have deposited $562.5 million in an escrow account after signing a final agreement “with respect to the SOEs’ participation in the reconstituted Reko Diq project, according to a bourse filing on Friday. The amount deposited in the escrow account…
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Gold jumps to historic high in Pakistan as investors seek safe investment
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[ad_1] A representational image of gold bars. — AFP/File Gold prices reached historic highs as the rupee continued to lose ground against the dollar. The liquidity crunch has increased safe-haven buying in the local market. The price of precious metal recorded the same gains as yesterday that is an increase of Rs500 per tola and…
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Reko Diq project reconstituted, first production expected in 2028 | The Express Tribune
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[ad_1] Canadian mining firm Barrick Gold Corporation (BGC) on Friday said that it had completed the reconstitution of one of the world’s largest undeveloped copper-gold projects after receiving nods from Pakistan’s top court and parliament. On Thursday, Pakistan inked the final deal with Barrick and Antofagasta PLC representatives in London to revive the Reko Diq mining…
