Business News
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EC opposes convention on HR violation | The Express Tribune
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[ad_1] ISLAMABAD: The European Commission (EC) has opposed a draft legislation by the European Parliament relating to a convention, which holds the army chief answerable to the violation of human rights in any country including Pakistan to avail the new EU GSP Scheme (2024-34). In order to avail the new scheme, a draft legislative proposal…
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Oil reserves discovered from Lockhart: OGDCL | The Express Tribune
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[ad_1] ISLAMABAD: Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration company, on Thursday announced the discovery of oil reserves from its exploratory well – Toot Deep-1 Well – located in the Attock district of Punjab. OGDCL, being the operator of the Toot Mining Lease, with 100% working interest has discovered oil from the…
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Pakistan forex reserves fall over 2% to stand at $7.4bn
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[ad_1] Picture of a one hundred US dollar bill taken in Bogota, on October 24, 2022. — AFP/File KARACHI: Following a decline of 2.07%, Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at $7.4 billion. On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9…
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Gold soars to Rs151,000 per tola amid political unrest
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[ad_1] Gold bars. — AFP/file KARACHI: Gold maintained its winning streak in the local market for the third consecutive day on Tuesday as political turmoil gripped the county since PTI Chairman Imran Khan announced to march towards Islamabad. The price of the precious metal rose by Rs800 per tola and Rs686 per 10 grams to…
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US commits another $30m for Pakistan flood relief
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[ad_1] This aerial view shows a flooded residential area after heavy monsoon rains in Balochistan province on August 29, 2022. — AFP WASHINGTON: The United States said Thursday it would provide another $30 million in flood aid to Pakistan, hoping to reach nearly two million additional people after the historic disaster. The US Agency for…
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Rupee loses ground ahead of PTI’s long march
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP/File KARACHI: In view of the rising political temperature and uncertainty in the county ahead of the PTI’s long march to Islamabad, the Pakistani rupee maintained its losing streak against the US dollar for the second consecutive session in the interbank market on…
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EU to review GSP Plus status in Dec 2023 | The Express Tribune
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[ad_1] LAHORE: European Union Ambassador Dr Riina Kionka has called for effective implementation of 27 international conventions as Pakistan’s current GSP Plus status is going to be reviewed in December 2023 and more conventions pertaining to labour and human rights will be added. She made the remarks while visiting a number of garment manufacturing units…
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US keen to expand agritrade with Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: United States Ambassador to Pakistan Donald Blome says he looks forward to expanding agricultural trade between the two countries, and was also looking into allowing Pakistan access to the US beef market. The comments were made when the ambassador called upon Federal Minister for National Food Security and Research Tariq Bashir Cheema to…
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Finance czar Ishaq Dar convinces pharmaceutical firms to reduce price of fever pills
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[ad_1] Representational image of tablets. — AFP/File ISLAMABAD: Following a meeting with Finance Minister Ishaq Dar, pharmaceutical companies Wednesday agreed to reduce the price of a paracetamol 500mg tablet to Rs2.35. Dar met with the heads of pharmaceutical companies in the federal capital to review the retail price of the fever pill. According to the…
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Gold continues to glitter, price soars above Rs150,000-threshold
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[ad_1] A representational image of gold bangles. — AFP/File KARACHI: Gold surpassed the crucial Rs150,000 threshold in Pakistan on Wednesday with a rise of 1.2% as political uncertainty diverted investors’ attention towards safe-haven assets. Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of the precious metal rose…
