Business News
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Govt asked to regularise cryptocurrency | The Express Tribune
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[ad_1] ISLAMABAD: International players have called on Pakistan’s government to regularise cryptocurrency trade to stop fraud and capital flight. At present, there is irregular trade in cryptocurrency with estimated annual volume of around $20 billion. One of the key global players, RAIN, the first licenced crypto asset company, suggested that the government should tax crypto…
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Gas utility affirms commitment to reforms | The Express Tribune
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[ad_1] ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has reiterated its commitment to broad-based gas sector reforms while opening the sector to private investors. Speaking at the Pakistan Energy Reform Summit 2022, SNGPL Managing Director Ali Javaid Hamdani talked about various strategies for implementing the government’s reform programme in respect of competition, regulation, market liberalisation…
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Oil jumps to 7-week high, then dips on supply hopes | The Express Tribune
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[ad_1] NEW YORK: Oil prices jumped above $115 a barrel on Tuesday, their highest in about seven weeks, as the European Union kept pushing for a ban on Russian oil imports that would tighten supply. Prices retreated and were slightly lower after Reuters reported that sources said US President Joe Biden’s administration will authorise as…
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Ban on luxury goods import sought | The Express Tribune
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[ad_1] KARACHI: The business community has urged the government to immediately put curbs on the import of luxury goods as the country is heading towards an economic chaos. “Pakistan is heading towards economic crisis,” warned Employers’ Federation of Pakistan (EFP) President Ismail Suttar while talking to The Express Tribune. Worsening balance of payments position, high…
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US urges India to reverse ban on wheat exports
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[ad_1] A labourer prepares to load a sack of wheat in a customer´s vehicle at a wholesale grain market in Ghaziabad on May 17, 2022. India´s wheat production has been hit by searing temperatures — the country recorded its warmest March on record — prompting the government to predict output would fall at least 5%…
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Market watch: Stocks recover in lacklustre trading | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a lacklustre trading session on Tuesday, where the benchmark KSE-100 index, after oscillating in a narrow range, finally managed to add some points to close the day in the green zone. Prevailing political and economic uncertainties continued to take a toll on investors’ interests as they profoundly awaited…
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Rupee hits another historic low of Rs195.5 against dollar
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[ad_1] Photo: AFP/File KARACHI: Pakistani rupee on Tuesday maintained its downward streak against the US dollar, breaching yet another important threshold of 195 the interbank market to hit its weakest level. In line with the prevailing trend over the last eight working days, the local currency was being traded at Rs195.5 against the greenback during…
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Rupee sinks to record 197 against USD in inter-bank market | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee on Tuesday suffered a significant drop of 1.5% and plunged to Rs197 against the US dollar in the inter-bank market. The fall of the rupee marks the eighth consecutive day of its sink, culminating in a 6% fall (or Rs11.30) to Rs196.99 to date. The local currency’s devaluation comes ahead…
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Oil rises on China demand optimism | The Express Tribune
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[ad_1] NEW YORK: Oil prices rose on Monday on optimism that China would see significant demand recovery after positive signs that coronavirus pandemic was receding in the hardesthit areas. Brent crude rose $1.34, or 1.2%, at $112.89 a barrel at 1342 GMT, while US West Texas Intermediate (WTI) crude rose $2.22 to $112.71 a barrel.…
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Only 1% of women go for entrepreneurship | The Express Tribune
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[ad_1] ISLAMABAD: Only 1% of women in Pakistan are entrepreneurs due to which the country is not realising its full economic potential, remarked Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. He urged the government to formulate policies to encourage and promote women entrepreneurs, which would result in robust economic growth in…
