Business News
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Yarn exports to China reach $168m | The Express Tribune
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[ad_1] BEIJING: Pakistani cotton experts expressed confidence in the development of local cotton-related industry and yarn export to China as well as other parts of the world, which is increasing every year despite the Covid-19 pandemic. According to the General Administration of Customs of the People’s Republic of China (GACC), data showed that China imported…
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Foreigners pull money out of EM portfolios | The Express Tribune
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[ad_1] NEW YORK: Emerging market debt and equity portfolios saw foreign investor outflows for a second straight month in April, data from the Institute of International Finance showed on Tuesday, building on record outflows from China in the first quarter. Portfolios posted a net outflow of $4 billion last month, compared to outflows of $7.8…
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IMF asks for Rs7.25tr tax collection target | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has demanded that Pakistan fix next fiscal year’s tax collection target at Rs7.25 trillion, which will require imposition of additional taxes of around Rs300 billion, including withdrawal of agriculture tax exemptions and increase in burden on the salaried class. The target is nearly Rs350 billion higher than what…
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No respite for dwindling rupee | The Express Tribune
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[ad_1] KARACHI: Pakistani currency failed to win support against the US dollar and weakened to a new record level, as it plunged 0.6% (or Rs1.13) to an all-time low of Rs188.66 against the greenback in the inter-bank market on Tuesday. The weakening rupee, however, caused gold to shoot up Rs1,400 to an all-time high at…
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Germany prepares crisis plan for end to Russian gas | The Express Tribune
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[ad_1] BERLIN: German officials are quietly preparing for any sudden halt in Russian gas supplies with an emergency package that could include taking control of critical firms, three people familiar with the matter told Reuters. The preparations being led by the Ministry for Economic Affairs show the heightened state of alert about supplies of the…
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Investors feared to lose interest in economy | The Express Tribune
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[ad_1] ISLAMABAD: Businessmen have called on the government to take urgent measures for fixing the economy as the major economic indicators are not showing encouraging trends due to which investors can lose interest in the economy. They pointed out that the benchmark KSE-100 index of Pakistan Stock Exchange shed 1,447 points in a day while…
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Oil dips below $100 on economic worries, strong dollar | The Express Tribune
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[ad_1] HOUSTON: US crude oil prices dipped below $100 on Tuesday to its lowest in two weeks as demand outlook was pressured by coronavirus lockdowns in China and growing recession risks, while a strong dollar made crude more expensive for buyers using other currencies. US West Texas Intermediate crude fell $3.25, or 3.13%, to $99.85…
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Germany may invest in cyber security | The Express Tribune
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[ad_1] ISLAMABAD: The German Emirati Joint Council for Industry and Commerce has expressed interest in investing in cyber security technology in Pakistan. Embassy of Germany in Pakistan First Secretary Christian Boettcher and Pakistan’s representative at German Emirati Joint Council for Industry and Commerce Muhammad Usman held a meeting with Board of Investment (BOI) Secretary Fareena…
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Market watch: Stocks gain ground in range-bound session | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange managed to make some recovery on Tuesday in a range-bound session, as investors opted to assume fresh positions at attractive valuations following a “bloodbath” on the previous trading day. The benchmark KSE-100 index, after fluctuating throughout the day, added around 111 points to settle in the green zone. The…
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Tokyo shares close lower after US falls
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[ad_1] A representational image of a girl walking in front of the digital stock screen. Photo: AFP/file TOKYO: Tracking another Wall Street rout on fears over rising US interest rates, Tokyo shares closed lower on Tuesday, while investors eyed China’s slowing economy. The benchmark Nikkei 225 index dipped 0.58%, or 152.24 points, to end at…
