Business News
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Five mineral projects picked for investment | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has identified five potential mineral projects that it will offer to the United Arab Emirates (UAE) for investment and development. In this regard, the two sides will sign a deal to formalise their partnership. According to sources, the five mineral projects have been selected in Chagai, Waziristan and Gwadar. Among these include…
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Oil prices dip as US crude stocks rise | The Express Tribune
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[ad_1] HOUSTON: Oil prices edged lower on Wednesday after US crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 41 cents, or 0.5%, to $80.28 a barrel by 1436 GMT. US West…
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Automakers look for more export avenues | The Express Tribune
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[ad_1] LAHORE: The automotive sector is showing signs of becoming another avenue for fetching export revenue, as many companies, both four- and two-wheelers, strive to make progress in line with the auto policy 2021-26. The reasons for exporting four-wheelers are obvious, ie, the auto policy 2021-26, however, many experts believe that unstable local demand and…
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Sovereign Wealth Fund hits legal snags | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s plans to sell stakes of its profitable energy companies to the United Arab Emirates (UAE) through the Pakistan Sovereign Wealth Fund (PSWF) have hit snags, as the government admitted on Tuesday that there was a lot of confusion and overlapping about the wealth fund. “There are many confusions in the law [Sovereign…
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Gold rises to record high, rupee falls | The Express Tribune
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[ad_1] KARACHI: Gold price hit an all-time high at Rs257,700 per tola (11.66 grams) in line with the global trend on Tuesday while the Pakistani rupee slightly weakened to Rs278.70 against the US dollar in the inter-bank market. According to the All Pakistan Sarafa Gems and Jewellers Association, bullion surged Rs1,200 per tola in a…
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Rs515b development projects approved | The Express Tribune
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[ad_1] ISLAMABAD: In stark contrast with Pakistan’s worsening fiscal situation and rising public debt, the government approved 15 development projects on Tuesday, costing a total of Rs515 billion, including a $900 million foreign loan aimed at addressing climate change. The Central Development Working Party (CDWP), which is responsible for sanctioning development projects, held a daylong…
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Digitisation to help achieve sustainable growth | The Express Tribune
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[ad_1] ISLAMABAD: Minister of State for Finance and Revenue Ali Pervez Malik has stressed that if the country needs to achieve a more inclusive and sustainable growth, then end-to-end-digitisation of the Federal Board of Revenue (FBR) is imperative. Chairing first meeting of the task force on digitalisation of the FBR, held on Tuesday at the…
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MSCI upgrades Sazgar Engineering to FM Index | The Express Tribune
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[ad_1] KARACHI: MSCI has upgraded Pakistan-based automobile manufacturing firm Sazgar Engineering to its Frontier Market (FM) index and added six other companies to its small-cap index, inviting some fresh foreign buying into these companies’ stocks at the Pakistan Stock Exchange (PSX). According to the results of the latest quarterly index review (QIR) of August 2024,…
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Petrol price drops by Rs8.47 per litre
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[ad_1] A man fills petrol in a car. — AFP/File The government has notified Rs8.47 reduction in per litre price of petrol for the next fortnight due to a drop in fuel prices in the global market. The petrol price has been cut from Rs269.43 to Rs260.96 per litre. The price of high-speed diesel (HSD) has…
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Low-cost electricity essential for stable economy: PM Shehbaz
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[ad_1] Prime Minister Shehbaz Sharif speaking to the chairmen and the members of the boards of electricity distribution companies (DISCOs) who called on him on August 13, 2024. — PID ISLAMABAD: Prime Minister Shehbaz Sharif has said that his government is solely focused on providing relief to inflation-hit people by reducing the sky-high electricity tariffs…
