Business News
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Oil steadies near $110 as dollar offsets worries | The Express Tribune
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[ad_1] NEW YORK: Oil prices steadied on Thursday, under pressure from a stronger dollar and a drop in global stock markets while supported by supply worries after the European Union (EU) laid out plans for new sanctions against Russia including an embargo on crude. Brent futures rose 42 cents, or 0.4%, to $110.56 a barrel…
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FPCCI proposes high tax rates, amnesty for rich | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s apex business body has proposed drastic measures to Prime Minister Shehbaz Sharif to contain budget and current account deficits including the rationing of electricity, an increase in individual tax rates and an amnesty for the rich to lure them to put their dollars in the central bank’s coffers. The Federation of Pakistan…
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Economy to face further pressure | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy and capital markets are expected to face mounting pressure when the country returns to work from Eid holidays on Friday in the wake of an aggressive hike in the benchmark interest rate by the US Fed and a rebound in international oil prices during the long break. Besides, the government has…
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Asian markets rise as Fed eases fears over huge rate hike
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[ad_1] Photo: AFP/file HONG KONG: Asian markets rallied Thursday following a Wall Street surge after the Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia. US central bank officials announced an expected half-point lift in…
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‘Govt incurs Rs102 billion loss every month due to petrol prices’ | The Express Tribune
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[ad_1] KARACHI: Finance Minister Miftah Ismail claimed on Thursday that the federal government incurs a loss of Rs102 billion monthly due to the current petroleum prices, stating that the terms of Imran Khan’s International Monetary Fund (IMF) agreement stipulated a price of Rs245 per litre of petrol. In conversation with the media in Karachi, the…
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Govt will try to maintain petroleum prices, says Miftah | The Express Tribune
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[ad_1] KARACHI: Finance Minister Miftah Ismail on Thursday announced that the incumbent government would strive to maintain current petrol prices, adding that if rates are increased, no new taxes would be imposed. In conversation with the media in Karachi, the minister harshly criticized former prime minister Imran Khan’s polices stating that the terms of the previous International…
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Pakistan urges Saudi Arabia not to withdraw deposits given to SBP | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail has said that the government has requested Saudi Arabia not to withdraw its deposits given to the State Bank of Pakistan (SBP) and extend its oil facility for Pakistan. Addressing a press conference in Karachi on Wednesday, he lamented former prime minister Imran Khan’s government for making promises to the…
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SBP chief’s tenure ends, deputy governor to take over: Miftah | The Express Tribune
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[ad_1] The senior-most deputy governor of the State Bank of Pakistan (SBP) will steer the central bank till the appointment of a permanent head after the tenure of Reza Baqir, who was appointed the SBP chief by the Pakistan Tehreek-e-Insaf (PTI), came to an end on Wednesday. The announcement was made by Finance Minister and…
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German finance watchdog sees ‘very big’ risk of cyberattacks
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[ad_1] BaFin president Mark Branson. — Bafin official website FRANKFURT: Germany’s financial regulator BaFin warned Tuesday of the “very big” risk of cyberattacks targeting the financial sector, a threat it said had become “more likely” since Russia’s war on Ukraine. “The risk that companies in the financial sector will fall victim to cyberattacks or that internal…
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PML-N govt ‘decides against’ extending tenure of SBP governor | The Express Tribune
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[ad_1] ISLAMABAD: The PML-N-led coalition government has apparently decided against extending tenure of State Bank of Pakistan (SBP) Governor Reza Baqir as Finance Minister Miftah Ismail thanked the former for his services to the country on Tuesday. “Tomorrow Governor SBP Dr Reza Baquir’s 3-year [term] expires. I have spoken to him and told him of the…
