Business News
-
‘Govt doesn’t rule out oil, wheat import from Russia’ | The Express Tribune
.
[ad_1] ISLAMABAD: The Foreign Office on Friday did not rule out the possibility of Pakistan importing oil and food products from Russia, saying the country has an “open policy” driven by the national interest to expand economic and trade relations. “Our policy is clear, you know in terms of expanding economic and trade relations, we…
-
Putin ready to help overcome food crisis if West lifts sanctions
.
[ad_1] Russian President Vladimir Putin takes part in an economic forum of former Soviet countries held in Bishkek, via a video link in Moscow on May 26, 2022. -AFP MOSCOW: Moscow is ready to make a “significant contribution” to averting a looming food crisis if the West lifts sanctions over Ukraine, President Vladimir Putin…
-
Rupee surges, KSE-100 index gains over 850 points during intraday trade
.
[ad_1] A representative image. KARACHI: The financial markets Friday responded positively to the government’s announcement of the removal of subsidies on petroleum products and hopes for the revival of the IMF loan programme. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index rose more than 850 points and crossed the 43,000 threshold during the intraday trade.…
-
Rupee gains against USD after two-week slide | The Express Tribune
.
[ad_1] KARACHI: Pakistani currency recovered by Rs1.81 bringing it up to Rs200.20 against the US dollar at 11:20 am in the inter-bank market on Friday, ending the two-week-long free-fall. Similarly, the Pakistan Stock Exchange surged 2.25% (or over 950 points) to 43,497 points just before noon. The recovery comes after Finance Minister Miftah Ismail announced…
-
Ministry for collecting oil levy, GST | The Express Tribune
.
[ad_1] ISLAMABAD: While cautioning about the widening current account deficit and mounting pressure on the country’s foreign currency reserves, the Ministry of Finance has called for resuming the collection of petroleum development levy and general sales tax (GST) from the consumers of petroleum products. Sources told The Express Tribune that the finance ministry drew the…
-
SBP reserves fall $75m to $10.1 billion | The Express Tribune
.
[ad_1] The foreign exchange reserves held by the central bank decreased 0.74% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 20, the foreign currency reserves held by the SBP were recorded at $10,088.6 million, down $75 million compared with $10,163.6 million on May 13.…
-
China proposes RMB circulation system | The Express Tribune
.
[ad_1] ISLAMABAD: China has proposed to Pakistan to set up a renminbi (RMB) capital circulation system to promote trade and other transactions in the Chinese currency. In this regard, it has been suggested that the State Bank of Pakistan (SBP) hold talks with the Bank of China. The government has asked the finance ministry and…
-
Rupee crosses 202 against US dollar | The Express Tribune
.
[ad_1] KARACHI: Pakistani rupee maintained its free fall for the 15th successive working day, as it hit an intra-day low of around Rs203 against the US dollar for the first time in the inter-bank market on Thursday, after the International Monetary Fund (IMF) delayed the resumption of its $6 billion loan programme. The rupee hit…
-
1% CVT on bourse rejected | The Express Tribune
.
[ad_1] ISLAMABAD: Finance Minister Miftah Ismail has rejected the largest tax proposal to slap 1% capital value tax on the total value of stock market that the Federal Board of Revenue (FBR) wants to introduce to collect an additional Rs76 billion in the next fiscal year. The minister also turned down another proposal of the…
-
Minister invites Dutch companies | The Express Tribune
.
[ad_1] ISLAMABAD: Federal Minister for Commerce and Investment Syed Naveed Qamar has said that the Netherlands is the second largest trade partner of Pakistan in the European Union and a key investor in various sectors of the country. According to a statement issued by the Ministry of Commerce on Thursday, the minister emphasised that strong…
