Business News
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‘Pakistan needs to revamp seed sector’ | The Express Tribune
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[ad_1] KARACHI: Businessmen have stressed that Pakistan needed to revamp the seed sector and redefine the role of Federal Seed Certification and Registration Department (FSC&RD). In a statement on Wednesday, Pakistan Businesses Forum (PBF) Vice President Ahmad Jawad said that seed cooperation with China under the China-Pakistan Economic Corridor (CPEC) would help improve agricultural productivity.…
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T-bill returns hit 24-year high | The Express Tribune
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[ad_1] KARACHI: Pakistan’s financial markets maintained record breaking spree, as commercial banks’ lending rate on financing to the cash-strapped government for a period of six-month hit 24-year high at 14.99% on Wednesday. The government raised a total of Rs614 billion through auctioning three, six and 12-month T-bills to commercial banks against a set target of…
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LPG sector seeks reduction in prices | The Express Tribune
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[ad_1] LAHORE: Liquefied petroleum gas (LPG), which is the fuel of the poor, is currently out of their reach, as its price has increased by around 173% in the last two years, lamented LPG Industries Association Chairman Irfan Khokhar. In a statement on Wednesday, the chairman sought the newly-formed government’s support in bringing down the…
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Oil prices dip as dollar soars | The Express Tribune
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[ad_1] NEW YORK: Oil prices dipped on Wednesday as a soaring US dollar made barrels more expensive and coronavirus outbreaks in China clouded the economic outlook in the world’s biggest importer of crude oil. Supplies remained tight in the world’s largest oil producer, the US, as government data showed crude stockpiles rose modestly last week…
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US, European shares rise as earnings remain mixed | The Express Tribune
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[ad_1] WASHINGTON/LONDON: Major US and European equity indexes rose in choppy trade on Wednesday, and the euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland and investors worried more about the region’s economy. Wall Street rose, rebounding the day after a rout drove the Nasdaq to its lowest…
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Jakarta to lift oil export ban soon | The Express Tribune
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[ad_1] ISLAMABAD: Indonesian Ambassador Adam Mulawarman Tugio on Wednesday said that the Indonesian government had temporarily banned global palm oil exports to regulate domestic markets and provide subsidised edible oil to its population. Talking to APP in an interview, the ambassador said that considering the global trade dynamics and the world supply chain, the decision…
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Market watch: Bourse ends negative in range-bound session | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange endured a range-bound trading session on Wednesday as the benchmark KSE-100 index faced both bullish and bearish pressures but ended the day on a negative note. The trading session started on a positive note but it registered a sharp decline around midday as investors weighed the impact of global…
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Ukraine war pushes Credit Suisse deeper into red
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[ad_1] Credit Suisse. Photo: AFP/file ZURICH: Swiss banking giant Credit Suisse said Wednesday that litigation costs and the financial fallout from the war in Ukraine pushed it deeper into the red in the first three months of the year. “The first quarter of 2022 has been marked by volatile market conditions and client risk…
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Budget deficit reaches Rs3.2tr | The Express Tribune
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[ad_1] ISLAMABAD: The federal budget deficit in the first nine months of the current fiscal year skyrocketed to nearly Rs3.2 trillion, which was higher by 53% compared to the same period of the previous year. For the July-March period of the ongoing fiscal year, the gap between federal income and expenditure, to be precise Rs3.165…
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Gazprom implementing roubles-for-gas scheme | The Express Tribune
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[ad_1] MOSCOW: The Kremlin on Tuesday said Gazprom was implementing the presidential decree on enforcing payment for gas supplies in roubles without providing further clarification, when asked about the European Commission’s guidance on Russia’s plan. The European Commission has said that European companies will need to fulfill extra requirements, such as a statement they consider…
