Business News
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Germany plans over €100 billion aid for companies | The Express Tribune
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[ad_1] BERLIN: Germany plans to offer more than €100 billion ($108.8 billion) worth of aid to companies hit by fallout from the war in Ukraine, according to a document from the finance and economy ministries seen by Reuters on Friday. In the plan, later published by the ministries, the government labelled the aid a “protective…
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World food prices hit record high over Ukraine war: FAO
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[ad_1] A Syrian woman prepares food at the Kabsh camp for the displaced people in the countryside near Syria´s northern city of Raqa during the Muslim holy month of Ramadan on April 7, 2022. — AFP/File PARIS: World food prices hit an all-time high in March as Russia’s invasion of Ukraine sent “shocks” through markets…
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Tesla recalls nearly 128,000 cars in China due to defect
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[ad_1] Cars are seen on the assembly line during a tour of the Tesla Giga Texas manufacturing facility ahead of the “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas. — AFP/File BEIJING: Tesla has recalled nearly 128,000 cars in China due to a fault that could “increase the risk of vehicle…
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Market watch: Political clarity drives rally at bourse | The Express Tribune
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[ad_1] KARACHI: Bulls returned to the Pakistan Stock Exchange on the final day of the week, pushing up the KSE-100 index by over 650 points as the market reacted positively to the Supreme Court’s verdict that crushed National Assembly deputy speaker’s ruling and reinstated the National Assembly. Late on Thursday, the apex court released the…
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SBP succumbs to reality | The Express Tribune
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[ad_1] The State Bank of Pakistan (SBP) has finally taken a much overdue and corrective decision by increasing the policy rate, by a massive 250 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 any forward guidance…
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Annual inflation at 21-year high | The Express Tribune
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[ad_1] MEXICO CITY: Mexican consumer prices rose in March to levels not seen since early 2001, with economists saying the data suggests more interest rate hikes are likely, as the central bank underscored the balance of risks for inflation deteriorated again. Consumer price inflation rose 7.45% in the year through March, way more than the…
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Moscow doubles subsidies | The Express Tribune
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[ad_1] MOSCOW: Moscow has doubled the state support available for opening a fast food chain in the city to 5 million roubles ($63,000), a city spokeswoman told Reuters, hoping this will help plug the gap left by foreign fast food chains that suspended activities. Western companies from McDonald’s and Starbucks to Deutsche Bank and Shell…
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Cloud technology to steer Vision 2025 | The Express Tribune
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[ad_1] KARACHI: Experts have observed that cloud technology has become fundamentally important for the digital transformation of businesses and public sector enterprises. By 2025, more than 70% of the world’s enterprises and public sector entities will be using cloud technology. Cloud technology can play an important role in achieving the goals of digital transformation and…
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Govt seeks undertaking before nod to Eni sale | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division has asked Eni Pakistan to provide an undertaking of Hub Power Holdings Limited (HPHL) in favour of Prime International Oil and Gas Company Limited (PIOGCL) for the sale of Eni Pakistan to PIOGCL. The division wants the undertaking before sending the case to the government for approval of Eni acquisition…
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SBP reserves drop $728m to $11.32 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 6.04% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 1, the foreign currency reserves held by the SBP were recorded at $11,319.2 million, down $728 million compared with $12,047.3 million on March…
