Business News
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China delivers first batch of 120 Higer buses | The Express Tribune
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[ad_1] SUZHOU: Recently, the first batch of 120 12m Higer buses was delivered to Karachi. As one of “Made in China” representatives, the buses will guarantee Pakistan’s daily transportation, providing the locals with comfortable and perfect public transportation experience. “We officially entered the Pakistani market in 2008. Last year, we sold a total of 115…
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Korean investors eye Pakistan’s energy, tech sectors | The Express Tribune
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[ad_1] KARACHI: South Korea is looking forward to strengthening bilateral relations with Pakistan and supporting the conduct of business-to-business (B2B) meetings, said Korean Ambassador to Pakistan Suh Sangpyo. During a meeting with members of the Pakistan-Korea Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday, Sangpyo urged the businessmen…
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Foreign loan inflows dry up | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s conventional foreign financing lines largely remained dry in April 2022, as it received hardly a quarter of a billion dollars in external loans from the bilateral and multilateral lenders, taking total loans to $15.5 billion in the current fiscal year. The disbursement of loans by the multilateral creditors virtually paused due to…
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AJK has potential to generate 9,000MW | The Express Tribune
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[ad_1] ISLAMABAD: Azad Jammu and Kashmir (AJK) has the potential to generate 9,000MW of hydroelectric power that will end load-shedding in Pakistan and benefit its businesses and industries, said AJK President Barrister Sultan Mehmood Chaudhry. Addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI) on Monday, he said that the region has…
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Retailers for lifting import ban on consumer goods | The Express Tribune
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[ad_1] LAHORE: Representatives of different importer, distributor and retailer organisations, while expressing concern over the ban on imports, have called on the government to introduce a fuel management plan, which can save $240 million per annum. “Only the fuel management plan can bring the country out of the current economic mess and reduce the current…
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Oil steadies as recession worry offsets demand outlook | The Express Tribune
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[ad_1] HOUSTON: Oil prices were little changed on Monday, as worries over a possible recession offset an outlook for higher fuel demand with the upcoming US summer driving season and Shanghai’s plans to reopen after a two-month coronavirus lockdown. Brent crude futures were up 32 cents, or 0.3%, to $112.90 a barrel by 1743 GMT.…
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Auto firm plans to introduce EVs | The Express Tribune
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[ad_1] LAHORE: An automobile manufacturing company has revealed its future plan to introduce electric vehicles in Pakistan, saying that hybrid electric vehicles are their first step in this direction. Speaking at an auto conference, titled “Role of hybrids in transforming automobile landscape in Pakistan”, Indus Motor Company Chief Executive Officer Ali Asghar Jamali underlined that…
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Socio-economic uplift of Gwadar imperative for CPEC success | The Express Tribune
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[ad_1] Two-day media conclave and roundtable conference reviews CSR projects, socio-economic development under CPEC KARACHI: Without bringing the people of Gwadar and surrounding areas out of the extreme poverty, China-Pakistan Economic Corridor (CPEC) – the multibillion-dollar project dubbed as the game changer for Pakistan and the region – would never truly be considered a success.…
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SBP further increases policy rate by 150bps to control inflation
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[ad_1] This file photo shows the building of the State Bank of Pakistan. — AFP KARACHI: In a bid to maintain the balance between inflation and economic growth, the State Bank of Pakistan (SBP) on Monday raised the benchmark policy rate by 150 basis points to 13.75% for the next six weeks. More to follow…
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Rupee continues to sink, surpasses 201-mark against US dollar in interbank
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[ad_1] A trader can be seen counting the US currency. Photo: AFP/file KARACHI: The Pakistani rupee on Monday maintained its downward streak and dropped to an all-time low of Rs201 in the interbank market As per the details, the local unit further plummeted by Rs0.86 against the greenback in the interbank market today. It is…
