Business News
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‘Unrealistic’ flood cost baffles IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Thursday had to concede to the International Monetary Fund’s (IMF) demand to exhibit the flood reconstruction cost in this year’s budget after the global lender found the projected relief operation estimates of Rs251 billion or $1.1 billion “unrealistic”. The Rs251 billion estimates that the finance ministry had shared with the IMF…
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IMF to ‘sympathetically’ consider targeted assistance for poor in ninth review
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[ad_1] A file photo of the IMF. ISLAMABAD: The International Monetary Fund (IMF) has agreed to sympathetically consider targeted assistance for the poor and vulnerable in the ninth review of the Fund’s deal for the country, the Ministry of Finance said Thursday. According to the statement issued by the Finance Division, Pakistan and the IMF will…
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Smuggling causing colossal losses to exchequer | The Express Tribune
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[ad_1] LAHORE: The Federation of Pakistan Chamber of Commerce and Industry’s United Business Group (UBG) on Thursday urged the government to curb smuggling and illicit trade immediately to protect the organised industry and consumers from its impact. Talking to a delegation of industrialists and traders, led by Chaudhary Ghulam Mujtaba Managing Director for Vital Tea,…
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SBP forex reserves tick up $3m to $7.96bn
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[ad_1] In this file photo taken on April 22, 2022 US dollar coins and banknotes are seen displayed on a table, in London. — AFP/File KARACHI: State Bank of Pakistan’s (SBP) foreign exchange reserves edged up by $3 million to $7.96 billion as of November 11, 2022, data released by the central bank on Thursday…
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Rupee devalues against dollar for fifth straight day
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[ad_1] A currency dealer can be seen counting $100 notes while a stack of Rs5,000 notes is placed on the table. — AFP/File KARACHI: Pakistan rupee’s losing streak against the US currency in the interbank trade entered its fifth day as import payments-led dollar demand weighed on the local unit amid tight supply. Data released by…
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California lab-grown meat start-up gets first green light
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[ad_1] A nugget made from lab-grown chicken meat is seen during a media presentation in December 2020 in Singapore, the first country to allow the sale of such products.— AFP SAN FRANCISCO: A California-based lab-grown meat start-up received the first green light for such products from the US food safety agency on Wednesday, although the…
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‘Pakistan’s GDP can fall 18 to 20% due to climate change risks’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s annual Gross Domestic Product (GDP) is at risk of fall by 18 to 20 per cent by 2050 due to the combined risks from intensification of climate change and environmental degradation in the country, if the climate change issues are left unaddressed. “The combined risks from the intensification of climate change and…
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Pakistan’s annual GDP can fall 18-20% by 2050 due to climate change risks: WB
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[ad_1] A man walks on the dried, cracked landscape near Hanna Lake near Quetta, Pakistan. — AFP/File ISLAMABAD: Pakistan’s annual Gross Domestic Product (GDP) is at risk of a fall by 18-20% by 2050 due to combined risks from the intensification of climate change and environmental degradation in the country, if the climate change issues…
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As recession looms, Airbnb CEO wants your home to make money
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[ad_1] Airbnb’s CEO Brian Chesky says he is trying to take the home-sharing giant back to its ‘core business’ in the wake of the pandemic.— AFP NEW YORK: After years of trying to expand into other sectors, the CEO of holiday home giant Airbnb, wants to get back to the basics: helping people make money.…
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Ethiopia set to launch direct flights | The Express Tribune
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[ad_1] KARACHI: Pakistan and Ethiopia have geared up to strengthen bilateral ties as they are working to launch direct flights, establish formal banking channels and boost trade to at least $300 million. Earlier this year, Ethiopia opened its full-fledged embassy in Islamabad, though the two countries had established diplomatic relations 64 years ago in 1958.…
