Business News
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Bilawal says $6 billion IMF deal is ‘outdated’ | The Express Tribune
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[ad_1] An ongoing bailout deal between Pakistan and the International Monetary Fund (IMF) is “outdated” given a number of global crises, Foreign Minister Bilawal Bhutto-Zardari said on Wednesday, as the country struggles to implement targets set by the lender. He…
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FBR takes notice of seizing ‘luxury items’ from travellers | The Express Tribune
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[ad_1] KARACHI: The Federal Board of Revenue (FBR) on Wednesday took notice of the seizing of ‘luxury goods’ in small quantities from the luggage of the passengers arriving at the country’s airports, and issued fresh directives in this regard. In…
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Pakistan, IMF again fail to reach staff level agreement | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund have failed to reach a staff level agreement for revival of the $6 billion programme amid huge gaps between their assessments of the economy and the required measures that are immediately needed…
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European stock markets struggle to recover
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[ad_1] European stock markets struggle to mount a rebound. Photo: AFP/file LONDON: European stock markets struggled to mount a rebound Wednesday as investors weighed the fallout from surging inflation, higher interest rates, China’s economic slowdown and the Ukraine war. After…
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Rupee slides to 202 as uncertainty plagues markets | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee hit a new all-time low on Wednesday, reaching Rs202 against the US dollar for the first time in inter-bank market. The country’s capital markets continued to plunge as the ousted Pakistan Tehreek-e-Insaf (PTI) began its long march to the…
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Sri Lanka increases fuel prices | The Express Tribune
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[ad_1] COLOMBO: Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to galloping inflation at least in the short term. Power and…
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Road blockades hamper fuel supply | The Express Tribune
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[ad_1] KARACHI: Road blockades have disrupted the supply of petroleum products to fuel stations in different parts of the country, including Punjab, though sufficient stock is available. In a statement on Tuesday, the Oil Companies Advisory Council (OCAC) said sufficient…
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Islamic banks to outpace conventional ones | The Express Tribune
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[ad_1] KARACHI: The banking sector is on the rise in Pakistan, but Shariah-compliant banks are leapfrogging and set to outpace the conventional banks in the coming years, as more banks are anticipated to apply for Islamic banking licences. The Shariah-compliant…
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SBP cuts auto financing tenure | The Express Tribune
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[ad_1] KARACHI: In a bid to arrest the fast depleting foreign exchange reserves, the State Bank of Pakistan (SBP) has decided to reduce the auto financing tenure. In a circular issued on Tuesday, the central bank underlined that the maximum…
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Chinese IPPs face default risk | The Express Tribune
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[ad_1] ISLAMABAD: Power projects of the China-Pakistan Economic Corridor (CPEC) face further risk of default on the upcoming debt repayments, as their outstanding dues have jumped above Rs340 billion amid Pakistan’s back-pedaling on fulfilling its contractual obligations. Owing to the…
