Business News
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Foxconn faces scrutiny over hiring practices in India | The Express Tribune
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[ad_1] NEW DELHI: Foxconn’s chairman, Young Liu, defended the company’s hiring practices on Saturday after reports emerged that the Apple supplier rejects married women for iPhone assembly jobs in India. This response came following a Reuters investigation that led the Indian government to order inquiries into the matter. Speaking at the inauguration of a new…
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Gold prices hit record highs in Pakistan amid global market surge | The Express Tribune
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[ad_1] Gold prices hit an all-time high on August 16, 2024, propelled by a weaker US dollar and expectations of a potential interest-rate cut by the Federal Reserve. The metal’s appeal was further amplified by ongoing geopolitical tensions, particularly in the Middle East, which heightened demand for safe-haven assets. Spot gold increased by 1.7% to…
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Slight cut in power tariff likely | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is likely cut the power tariff by Rs0.3142 per unit on account of fuel charges adjustment for July 2024. The Central Power Purchasing Agency (CPPA) has moved a petition to Nepra that it is ready to refund this per-unit price to the consumers in their September…
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Carmaker unveils electric-first brand | The Express Tribune
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[ad_1] KARACHI: Master Changan Motors Limited has introduced Changan’s electric-first brand, Deepal, aiming to support the widespread adoption of EVs in Pakistan. The unveiling event, held on Friday, featured two models: the LO7, an electric sports luxury sedan, and the SO7, an electric premium SUV. Pakistan’s energy mix is 41% non-fossil fuel-based, yet the country’s…
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Electricity bills in Pakistan to surpass house rents: Bloomberg | The Express Tribune
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[ad_1] Listen to article PAKISTAN: A Bloomberg report has revealed that electricity bills in Pakistan have now exceeded the cost of household rent, considering that electricity prices surged by 155% since 2021. According to the report, the tariff increase has driven electricity costs above the average rental rates for homes. The report attributes the soaring inflation to…
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Uproar as ‘firewall’ singes IT businesses | The Express Tribune
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[ad_1] ISLAMABAD: Several businesses and customers, who rely heavily on internet for their work, vociferously opposed the government’s decision to install a firewall on the internet that has resulted in the disruption across the country. The Pakistan Software Houses Association (P@SHA) as well as parliamentarians finally broke their silence and spoke against the firewall at…
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4 tech zones set up amid increased surveillance | The Express Tribune
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[ad_1] KARACHI: The Special Technology Zones Authority (STZA) has announced the creation of four new special technology zones (STZs), with an investment of Rs30 billion in infrastructure. The initiative aims to generate 50,000 jobs and boost IT exports by $350 million annually over the next two to four years. In a statement issued on Thursday,…
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Govt approves Rs60b relief package | The Express Tribune
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[ad_1] ISLAMABAD: The government on Thursday approved a Rs60 billion relief package to provide five essential goods to poorer households at subsidised rates, a 71% increase from the previous allocation due to a significant rise in prices over the past year. The decision was made by the Economic Coordination Committee (ECC) of the Cabinet, led…
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PSX shrugs off slump, rallies by around 650 points | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) has shrugged off its downward slump on Thursday and surged by 667 points to reach 78,545 during intra-day trade. This marks a notable 0.85% rise from its previous close of 77,878 points. Ahead of the August 14 Independence Day holiday, the PSX fell over 100 points in a range-bound session…
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PIA suffers Rs21.81b loss due to aircraft grounding | The Express Tribune
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[ad_1] KARACHI: Pakistan International Airlines (PIA), which is currently for sale, has suffered a staggering operational and financial loss exceeding Rs21.81 billion due to the prolonged grounding of aircraft in its fleet for maintenance. According to the auditor general’s report, the routine maintenance of PIA’s aircraft took between 44 to 239 days, far longer than…
