Business News
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Sri Lanka fuel prices up ahead of IMF talks | The Express Tribune
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[ad_1] COLOMBO: A key fuel retailer in Sri Lanka raised prices by up to 35% on Monday as the cash-strapped government was set to open crucial bailout talks with the International Monetary Fund. Sri Lanka is in the grip of its worst economic crisis since independence from Britain in 1948. It has led to shortages…
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China to step up financial support for Covid-hit industries | The Express Tribune
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[ad_1] BEIJING: China will step up financial support for industries, firms and people affected by Covid-19 outbreaks, the central bank said on Monday, as part of steps to cushion economic slowdown. Authorities will guide financial institutions to expand lending and surrender profits to the real economy, the People’s Bank of China (PBOC) said in a…
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Oil rises as Libya outages add to Russia supply fears | The Express Tribune
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[ad_1] LONDON: Oil rose on Monday in choppy trade, with Brent crude topping $113 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand. Adding to supply pressures from sanctions on Russia, Libya’s National Oil Corp on Monday warned “a painful…
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Market watch: Stocks lose all gains on profit-taking | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a roller-coaster session on Monday, as the benchmark KSE-100 index after registering handsome gains earlier in the day, succumbed to late-session profit-taking, starting the week on a negative note. Investor sentiment was mainly dented by the depreciating rupee, which lost 0.54% of value day-on-day against the US dollar…
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Sorghum cooperation: a new milestone in CPEC | The Express Tribune
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[ad_1] As agricultural countries China and Pakistan are currently facing the same challenges – growing food demand and tight agricultural land jointly threaten food security. In addition to the three major staple foods in the world, a crop has gradually attracted attention – sorghum. As an indispensable dry food crop, sorghum is second only to…
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No time for economic mourning | The Express Tribune
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[ad_1] KARACHI: It’s done. We have a new set of economic managers. The gruesome politicking, hourly chess moves, neutrality of umpires and the locking of dissidents is over. While the bickering, protests, unfolding of new corruption cases and closing of the previous ones would continue for the foreseeable future, the imminent task is to “steady…
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Early elections only way to save economy | The Express Tribune
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[ad_1] ISLAMABAD: The world economy is on the verge of another recession due to skyrocketing global commodity prices. Heavy import-dependent economies including Pakistan are facing strong headwinds due to the unsustainable rise in import bills and prices of essential commodities including petrol, diesel and cooking oil. Understanding the gravity of the situation, the PTI government…
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Budget: make-or-break moment | The Express Tribune
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[ad_1] ISLAMABAD: By the time this article is printed, most likely a new finance minister would be holding the office with probably the most difficult job in Pakistan at this point in time. The most important milestone for the new finance minister would be the budget for 2022-23. With quite sketchy economic health, rising international…
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Buyers agree to pay in roubles | The Express Tribune
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[ad_1] MOSCOW: Several buyers of Russian gas have agreed to switch to payments in roubles, Russian Deputy Prime Minister Alexander Novak said on Friday. “We expect the decision (to switch to roubles) from other importers,” he added, in comments published in the ministry’s in-house magazine. He did not disclose the identities of customers who had…
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Ukraine limits exports of food staples | The Express Tribune
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[ad_1] KYIV: Ukraine’s state-owned railway company has temporarily restricted the transportation of some agricultural goods through border crossings to Poland and Romania, consultancy APK-Inform said on Saturday. It gave no reason for the restrictions. Ukraine, a major agricultural producer, used to export most of its goods through seaports but since Russia’s invasion has been forced…
