Business News
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Laws for economic management | The Express Tribune
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[ad_1] ISLAMABAD: After the landmark and watershed unanimous decision by the Supreme Court last week, which restored the National Assembly, the awareness about the constitution has gained more importance. It will be instructive to review our constitution to find the binding laws for economic management, which I consider a plausible basis for rules-based economic governance…
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China helps supply PV module to Pakistan | The Express Tribune
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[ad_1] BEIJING: Recently, C&D Clean Energy has announced a partnership with Integra Solar for panel supply chain services. According to a signed memorandum of understanding, C&D Clean Energy will provide Integra Pakistan with integrated supply chain services of 100MW solar modules in 2022. “Integra’s value concept is to write the earth’s green future by choosing…
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LCCI stresses on govt-private sector liaison | The Express Tribune
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[ad_1] LAHORE: The private sector is the engine of economic growth and its proposals must be a part of the federal budget 2022-23, said Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir. In a press conference on Saturday held to discuss the chamber’s budget proposals, he said that in developing countries, the…
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‘High interest rate will destroy economy’ | The Express Tribune
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[ad_1] KARACHI/ISLAMABAD: Business chambers are in a state of panic and shock as they are speculating on how to cope with the fallout of a surprise 250 basis points rise in the benchmark interest rate by the State Bank of Pakistan (SBP). In a statement on Saturday, Federation of Pakistan Chambers of Commerce and Industry…
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Sri Lanka seeking $3 billion to stave off crisis | The Express Tribune
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[ad_1] COLOMBO: Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on Saturday. The island nation of 22 million people has been hit by prolonged power cuts,…
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S&P cuts Russia’s foreign currency rating to ‘selective default’ | The Express Tribune
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[ad_1] MELBOURNE: S&P on Saturday lowered Russia’s foreign currency ratings to “selective default” on increased risks that Moscow will not be able and willing to honour its commitments to foreign debt holders. Facing waves of sanctions over its invasion of Ukraine, Russia could face its first sovereign external default in over a century after it…
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Beaten-down growth stocks turn alluring for investors | The Express Tribune
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[ad_1] NEW YORK: Some investors are looking for bargains in beaten-down growth and tech stocks, betting they will shine as the Federal Reserve fights to slow the US economy and tame redhot inflation. Growth stocks – which have trounced their valued-focused peers over the last decade – have borne the brunt of the Federal Reserve’s…
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KSE ends eventful week in loss | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange recorded a roller coaster week as a mixture of political turmoil, dismal economic data and rupee devaluation struck the trading environment and dampened investor sentiments. Political uncertainty and constitutional crisis loomed large at the bourse for most part of the week and restrained the market from recording gains. Resultantly,…
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SBP supplies Rs3.37tr to banks | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has supplied record high financing worth Rs3.37 trillion to banks for a period of seven days to address short-term liquidity crunch in the financial market, as demand for financing from the government stands high at present, bankers told The Express Tribune The State Bank of Pakistan (SBP) has injected a…
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Russia forex payments in ‘selective default’: S&P agency
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[ad_1] Standard & Poor’s headquarters in the financial district of New York on August 6, 2011. — AFP PARIS: Credit rating agency S&P Global Ratings on Saturday downgraded Russia’s foreign currency payments rating to “selective default” after Moscow paid a dollar-denominated debt in rubles this week. The agency does not expect investors to be able…
