Business News
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World Bank to provide $1.3b emergency relief | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank on Wednesday said that it was planning to provide Pakistan with $1.3 billion for emergency, agriculture and housing relief in the wake of devastating floods, according to a statement issued by the Ministry of National Food and Security. During a meeting with the Federal Minister for National Food Security and…
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Rupee continues to weaken against greenback amid high dollar demand
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[ad_1] Currency dealers exchanging Rs1,000 notes. — AFP/File KARACHI: In line with the increasing demand for the US dollar from importers due to import payment pressure, the Pakistani rupee continued to depreciate against the US dollar on Wednesday in the interbank market. According to data released by the State Bank of Pakistan (SBP), the local…
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Gold gains as political woes persist amid PTI’s long march
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[ad_1] A representational image of gold bangles. — AFP/File KARACHI: Gold continued to shine in the domestic market for the fourth consecutive day on Wednesday amid political uncertainty and the PTI’s ongoing long march toward Islamabad. Gold is often seen as an alternative investment during times of political and financial uncertainty. Cumulatively, the precious commodity has…
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World Bank to provide financial support of $1.3b to Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: Regional Director World Bank for Sustainable Development John A Roome on Wednesday said that the bank would provide financial support of $1.3 billion to Pakistan for an emergency, agriculture and housing relief. According to an official statement, the regional director WB said this during a meeting with Minister for National Food Security and…
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2013 bench ‘knew fallout’ of cancelling Reko Diq deal | The Express Tribune
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[ad_1] ISLAMABAD: The counsel for the Balochistan government on Tuesday informed a five-judge Supreme Court bench, headed by Chief Justice Umar Ata Bandial, that the presidential reference regarding the Reko Diq agreement was maintainable because it was a matter of public interest. Lawyer Salahudin Ahmed also informed the bench that despite elaborating dire consequences, a…
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Govt keeps petrol price unchanged
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[ad_1] Motorists wait to fill their vehicle tanks at a petrol station in Islamabad following an increase of petroleum prices by the government. — Online/File ISLAMABAD: The Government of Pakistan Tuesday kept the price of petrol unchanged at Rs224.80 per litre for the next fortnight. Federal Minister for Finance and Revenue Ishaq Dar announced the…
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Rupee rout enters third day as dollar demand rises
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[ad_1] A currency dealer can be seen counting $100 notes. — AFP/File KARACHI: Pakistan’s rupee’s retreat entered its third day in the interbank market as it eased by Re0.22 or 0.10% versus the dollar to close at 221.91 compared to Monday’s close of 221.69, the State Bank of Pakistan’s (SBP) data showed. Traders pinned this…
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Fuel prices to remain unchanged: Dar | The Express Tribune
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[ad_1] The federal government has announced keeping the prices of petroleum products unchanged for the month of November. Federal Finance Minister Ishaq Dar announced the decision while addressing a press conference in Islamabad on Tuesday. He said that there will be no change in the prices of petroleum products. Dar said the State Bank and…
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Gold rallies near 3.5-month peak on flight to safety
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File KARACHI: Gold prices hit their highest level since August 1 on Tuesday, as demand was boosted by worries over the depreciating rupee and hopes of more stimulus measures to combat the economic blow. Data released by the All Pakistan…
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‘Global Shield’: Better late than never? | The Express Tribune
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[ad_1] Nine days into COP27, Pakistan’s unremitting efforts for climate justice finally pay off to a certain extent as the country will be among the first to receive “Global Shield” climate funding, a G7-backed scheme announced Monday to compensate climate-vulnerable countries for their sufferings from the “climate carnage” penetrated by the developed world. Among the…
