Business News
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Credit ceiling raised for oil firms | The Express Tribune
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[ad_1] ISLAMABAD: Banks have revised credit lines for the oil industry to facilitate the import of petroleum products to meet the country’s requirements. Earlier, the Oil Companies Advisory Council (OCAC) – an industry lobby – brought the matter before the…
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Oil rises on OPEC warning, easing of Covid curbs | The Express Tribune
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[ad_1] LONDON: Oil prices climbed on Tuesday as Shanghai’s relaxation of some Covid-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose by $5.51,…
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Traders seek business friendly environment | The Express Tribune
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[ad_1] KARACHI: The key focus of the incumbent government should be to take strong measures aimed at creating a business friendly tax environment in the country, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. Speaking to…
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Hungary finds ways to pay for gas | The Express Tribune
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[ad_1] BUDAPEST: Hungary plans to pay for Russian gas in euros through Gazprombank, which will convert the payment into roubles to meet a new requirement set by President Vladimir Putin, Foreign Minister Peter Szijjarto said on Monday. Putin has warned…
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Business leaders for bridging trade deficit with Morocco | The Express Tribune
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[ad_1] KARACHI: Pakistan’s trade deficit with Morocco has reached close to $300 million which is huge when seen in the context of total bilateral trade of approximately $350 million, remarked Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President…
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IMF programme likely to resume | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economic fundamentals have continued to remain strong and the unpopular decisions of the government to hike the energy prices in future is likely to get $6 billion International Monetary Fund (IMF) loan programme back on track. The…
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Moody’s maintains stable outlook for banks | The Express Tribune
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[ad_1] KARACHI: Moody’s Investor Service has maintained a stable outlook for Pakistan’s banking sector, citing that sustainable growth and increase in financial inclusion are boosting lending opportunities. “We continue to maintain a stable outlook for the banking sector in Pakistan…
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Rupee recovers 1.75 as political noise eases | The Express Tribune
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[ad_1] KARACHI: The rupee staged a sharp recovery on Monday as it appreciated Rs1.75 in the inter-bank market to close at Rs182.93 against the US dollar aided primarily by the easing political noise and the emergence of clarity. Investor speculation…
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Circular debt to haunt new govt | The Express Tribune
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[ad_1] ISLAMABAD: The worsening circular debt in the energy chain will continue to haunt the new government along with the challenge of dealing with the rising crude oil prices in the global market following the Russia-Ukraine war, officials say. At…
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War to cut Ukraine’s GDP by over 45% in 2022 | The Express Tribune
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[ad_1] WASHINGTON: Ukraine’s economic output will likely contract by a staggering 45.1% this year as Russia’s invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday. The…
