Business News
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EU likely to revisit renewable targets | The Express Tribune
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[ad_1] CAIRO: The European Union may set more ambitious targets for its transition to renewable energy as it seeks alternatives to imports of oil and gas from Russia, EU climate policy chief Frans Timmermans said on Sunday. The EU’s 27 member states have agreed to collectively reduce their net greenhouse gas emissions by 55% from…
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Oil drops below $100 on reserve release, lockdowns | The Express Tribune
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[ad_1] LONDON: Oil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June delivery was down $4.29, or 4.2%, at $98.49 a barrel by 1341 GMT.…
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Traders urge new govt to prop up economy | The Express Tribune
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[ad_1] ISLAMABAD: Reviving the economy and placing it on a path of sustainable growth should be the top priority of the new government, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. In a statement on Monday, he argued that turning the economy stable and resilient was the key to a better…
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PSX posts highest-ever gain of 1,700 points | The Express Tribune
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[ad_1] KARACHI: With the settlement of the prolonged political row in the country, the Pakistan Stock Exchange skyrocketed on Monday, as investors were observed celebrating the clarity on the political front stemming from the resignation of PM Imran Khan post no-confidence vote. The benchmark KSE-100 index posted the highest-ever single-day gain of 1,700 points (in…
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‘Good news’ of completing next IMF tranche on the cards | The Express Tribune
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[ad_1] State Bank of Pakistan (SBP) Governor Reza Baqir on Monday said that the central bank is confident that it will soon announce the “good news” of completing the conditions required to obtain the next tranche of the International Monetary Fund (IMF). In an exclusive interview with Bloomberg, Baqir stated that it is “no surprise”…
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Egypt inflation rises to 12.1% as foreign reserves dip
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[ad_1] Women selling vegetables in Egypt. — AFP CAIRO: Egypt’s annual inflation rate hit 12.1 per cent in March, official figures showed Sunday, as foreign reserves declined by $4 billion during the same month, according to the central bank. “The annual headline inflation rate recorded 12.1 per cent for March 2022, compared to 4.8 per…
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Economic, financial cost of political chaos | The Express Tribune
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[ad_1] KARACHI: People are queuing outside the heavily guarded Ceylon Petroleum Corporation’s petrol station in the busy district of Colombo as fuel shortage is hurting the Asian nation of Sri Lanka, which is reeling from the worst economic crisis amid political chaos that may trigger a civil war. The world was already struggling to recover…
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State Bank succumbs to reality | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has finally taken a much overdue and corrective decision by increasing the policy rate by a massive 250 basis points (bps) to 12.25%. To put this move into context, such a large jump has not been witnessed in the 21st century. Interestingly, the SBP has not given…
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Political and financial turmoil | The Express Tribune
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[ad_1] LAHORE: The economy is facing acute political instability. A series of political events/ surprises are aggravating economic uncertainty with every passing day. This set of circumstances lead to speculation in economic activities. When the writ of the state weakens, speculators and profiteers become dominant. If citizens raise questions about the prevailing high prices, they…
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Methane pledge: a major stimulus to biogas development | The Express Tribune
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[ad_1] ISLAMABAD: Biogas typically refers to gas produced by the biological breakdown of organic matter in the absence of oxygen (anaerobic digestion). Biogas offers highly cost-effective, renewable and decentralised energy for domestic and commercial consumers. Pakistan did try biogas production in the 1970s but it could not succeed due to the lack of user-friendly technology…
