Business News
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Rupee at two-week low against dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani currency has reversed almost all the gains it had achieved against the US dollar in the wake of the new political setup in the parliament, as it has cumulatively lost 3% (Rs5.42) in the past four days to a two-week low of Rs186.92 per dollar in the inter-bank market on Thursday. At…
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Pakistan to buy expensive LNG again | The Express Tribune
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[ad_1] ISLAMABAD: The tender awarded to Pakistan LNG Limited (PLL) for the month of May is quite costly for the country mainly owing to supply-chain disruptions in the international market on the back of Russia-Ukraine war. The firm selected the lowest bid for liquefied natural gas (LNG) cargoes. Out of seven, six contract prices for…
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Traders demand focus on GSP Plus | The Express Tribune
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[ad_1] LAHORE: Businessmen have urged the new government to initiate lobbying for continuity of the GSP Plus besides implementing new Textile and Apparel Policy through revival of Pakistan Export Promotion Board. In a statement on Thursday, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Chief Coordinator Ijaz Khokhar made an appeal to Prime Minister Shehbaz…
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Alvi for enhancing outreach of FTO | The Express Tribune
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[ad_1] ISLAMABAD: President Dr Arif Alvi on Thursday called for enhancing the outreach of the Federal Tax Ombudsman’s (FTO) for swift resolution of the problems faced by the people. He further lauded the role played by the FTO for providing speedy relief to traders and businessmen. The president also underscored the need for creating awareness…
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Foreign loans swell to $15b in Jul-Mar | The Express Tribune
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[ad_1] ISLAMABAD: The former government of Pakistan Tehreek-e-Insaf (PTI) took $15 billion gross foreign loans during its last nine months in power, bringing the total gross foreign borrowings to over $57 billion during its rule. The Ministry of Economic Affairs on Thursday released the foreign debt bulletin for July-March period of the current fiscal year.…
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Oil rises on worry about supply disruption from Russia, Libya | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports while the market continues to deal with reduced supplies from Libya. Brent crude futures rose $1.36, or 1.3%, to $108.16 a barrel at 11:11 AM ET (1511 GMT). US West Texas…
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Global tourism to recover from pandemic by 2023 | The Express Tribune
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[ad_1] MANILA: The global travel and tourism sectors are projected to return to pre-pandemic levels in 2023 and grow at a rate that will outpace global gross domestic product (GDP) growth, the World Travel and Tourism Council (WTTC) said on Thursday. The industry is expected to post an annual average growth rate of 5.8% from…
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Fish meal export to China tops 13,866 tons | The Express Tribune
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[ad_1] BEIJING: Pakistan’s fish meal export to China topped 13,866 tons with a value of over $15.68 million, showing a year-on-year increase of 250.59% in the January-February period, Chinese customs data showed. Despite the Covid-19 pandemic, bilateral trade between Pakistan and China has increased significantly. Pakistan’s exports to China stood at $670.72 million in January-February…
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Oil prices up as traders weigh demand and supply issues
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[ad_1] — AFP/file HONG KONG: Oil began inching upward on Thursday after a day of losses over demand concerns linked to the COVID-19 lockdown in China. Ongoing restrictions in the country, including in the economic hub of Shanghai where tens of millions are confined to their homes, have hit transport networks but traders are balancing…
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India capitalises on Russian oil previously destined for Europe | The Express Tribune
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[ad_1] ISTANBUL: As European refineries shun away from Russia’s flagship export crude, Urals, India has been picking up more of Russia’s Black Sea and Baltic cargoes, motivated by large discounts, according to data compiled by real-time energy cargo tracker, Vortexa. Russia exports its Urals from the Baltic ports of Primorsk and Ust Luga but to…
