Business News
-
Credit ceiling raised for oil firms | The Express Tribune
.
[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 State Bank of Pakistan (SBP), asking it to intervene and advise commercial banks to enhance…
-
Oil rises on OPEC warning, easing of Covid curbs | The Express Tribune
.
[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, or 5.6%, to $103.99 a barrel by 1343 GMT while US West Texas Intermediate was…
-
Traders seek business friendly environment | The Express Tribune
.
[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 the business community at the Islamabad Chamber of Commerce and Industry on Tuesday, he highlighted…
-
Hungary finds ways to pay for gas | The Express Tribune
.
[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 Europe it risks having gas supplies cut unless it pays in roubles as he seeks…
-
Business leaders for bridging trade deficit with Morocco | The Express Tribune
.
[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 Irfan Iqbal Shaikh. In a statement on Monday, he emphasised that trade deficit of Pakistan…
-
IMF programme likely to resume | The Express Tribune
.
[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 engagement of the Ministry of Finance and the central bank with the International Monetary Fund…
-
Moody’s maintains stable outlook for banks | The Express Tribune
.
[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 (B3 stable),” the ratings agency said in a statement on Monday. “This balances good economic…
-
Rupee recovers 1.75 as political noise eases | The Express Tribune
.
[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 ended in the foreign exchange market as the political scene turned stable ahead of the…
-
Circular debt to haunt new govt | The Express Tribune
.
[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 present, energy companies are facing financial constraints and are struggling to get their outstanding dues…
-
War to cut Ukraine’s GDP by over 45% in 2022 | The Express Tribune
.
[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 World Bank also forecast Russia’s 2022 GDP output to fall 11.2% due to punishing financial…
