Business News
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Ford recalls 3.3 million vehicles over rollaway concerns | The Express Tribune
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[ad_1] WASHINGTON: Ford Motor Co (F.N) is recalling more than 3.3 million vehicles in North America that could roll away because a damaged or missing part may prevent the vehicle from shifting into the intended gear. In a filing with the National Highway Traffic Safety Administration (NHTSA), Ford said on Wednesday the recall covers various…
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Pakistani startup raises country’s largest-ever Series A investment
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[ad_1] ISLAMABAD: A Pakistani e-commerce startup has raised $15 million in Series A investment, making it the country’s largest-ever funding of its kind, it emerged Tuesday. Dastgyr, an e-commerce marketplace platform, recently received an investment from VEON which is a global digital operator that provides mobile connectivity and services. The investment positions Dastgyr to take…
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Dollar surge continues amid uncertainty over IMF programme
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[ad_1] A representative image. KARACHI: The US dollar gained further in the interbank market Wednesday and was trading at 206.25 in the first session amid uncertainty over the revival of the International Monetary Fund’s (IMF) loan programme, Geo News reported. The Pakistani rupee depreciated over 1.09 paisas during the intraday trading today. The local currency…
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Russia-Ukraine conflict multiplying Pakistan’s energy woes: Bloomberg
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[ad_1] A representative image. Thousands of miles away from the Ukraine conflict, Pakistan is facing the brunt of the war and the West’s push to punish Russia for its invasion, according to a Bloomberg report. The South Asian nation, currently undergoing an energy crisis amid a shortage of fuel and soaring oil prices in the…
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IMF hands list of demands for loan revival | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s tax chief hinted on Tuesday at increasing the income tax rates for the upper middle income to rich groups, as the International Monetary Fund (IMF) presented the list of its demands for additional measures that included a surge in personal income tax rates. The IMF had raised objections to reducing the income…
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No power relief in sight in coming days | The Express Tribune
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[ad_1] ISLAMABAD: There is no relief in electricity outages in sight in the coming days because of the fear of drying up furnace oil stocks and the shortage of LNG for power plants. During a meeting on the power crisis held on June 6, the Petroleum Division had conveyed to the participants that the state-run…
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Rupee shoots past record Rs206 against USD | The Express Tribune
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[ad_1] KARACHI: In line with expectations, the rupee has plunged further and crossed Rs206 against the US dollar for the first time in the inter-bank market on Wednesday. The domestic currency was available at Rs206.09 against the greenback, losing a fresh Rs0.93, a currency market dealer reported at 9.45 am. This is the fourth consecutive working…
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Rs16.6 billion allocated for agriculture sector | The Express Tribune
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[ad_1] KARACHI: The Sindh government has allocated Rs16.652 billion for the agriculture sector in the budget for fiscal year 2022-23. The provincial government aims to improve the irrigation system with the financial support of the World Bank under the Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP). SIAPEP’s implementation will help in improvement of water courses,…
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In new record low, rupee crosses 205 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency crashed and crossed Rs205 against the US dollar for the first time in the inter-bank market on Tuesday, as conflicting reports about the revival of IMF loan programme played on traders’ minds and made the foreign exchange market jittery. The rupee lost 0.63% (or Rs1.30) to stand at Rs205.16 against the…
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Income of foreign lenders taxed | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has taxed the income being earned by foreign lenders by giving loans to Pakistan in addition to imposing taxes on their grants – a move that the Ministry of Economic Affairs said may cause serious repercussions. The disclosure was made by Ministry of Economic Affairs Additional Secretary…
