Business News
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Govt transfers Rs20b to PSO | The Express Tribune
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[ad_1] The government has transferred Rs20 billion to the account of Pakistan State Oil (PSO) for the clearance of price differential claims (PDC) as it has frozen oil prices till the next budget. Despite higher crude oil prices in the international market following the Russia-Ukraine conflict, the prime minister announced a freeze on petrol and…
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World stock markets beat retreat with all eyes on Fed
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[ad_1] Global Stock Markets. — AFP/File LONDON: Global equities sank Wednesday on bets the Federal Reserve will act more aggressively to bring inflation under control, while oil prices rebounded. Asian and European bourses retreated after heavy falls on Wall Street Tuesday. The euro hit a one-month dollar low before minutes from the Fed’s latest policy…
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Market watch: Stocks rally, but volumes hit 22-month low | The Express Tribune
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[ad_1] KARACHI: Despite the continuing political uncertainty and fast depreciating rupee, the Pakistan Stock Exchange managed to post decent gains on Wednesday but trading volumes remained thin. The market saw the volumes dip to around 22-month low, however, it remained in the green zone throughout the day. The benchmark KSE-100 index added 183 points and…
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BOJ tones up warning on weak yen | The Express Tribune
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[ad_1] TOKYO: Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday the yen’s recent moves were “somewhat rapid”, joining a chorus of policymakers who have warned that sharp falls in the currency could hurt the country’s import-reliant economy. The remark was the strongest warning by Kuroda on yen moves since the currency’s slide to…
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Canada to invest $2b in minerals | The Express Tribune
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[ad_1] OTTAWA: Canada’s federal budget will include an investment of at least C$2 billion ($1.6 billion) for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain, two senior government sources said. Prime Minister Justin Trudeau’s government, which is due to release its budget on…
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Oil climbs on new Russia sanctions | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Tuesday as Europe announced plans to impose new sanctions on Russian oil imports to punish Moscow over alleged war crimes in Ukraine, raising concerns over tighter global supply. Brent crude was up $1.10, or 1%, to $108.63 a barrel at 1334 GMT. US West Texas Intermediate was up $1.12,…
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Turkmenistan intends to boost two-way trade | The Express Tribune
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[ad_1] ISLAMABAD: Turkmenistan is eager to enhance trade ties with Pakistan and both countries have excellent potential to widen trade in many items, said Ambassador of Turkmenistan Atadjan N Movlamov. Speaking to Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir during his visit to the Embassy of Turkmenistan on Tuesday, he promised…
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PSX launches Sahulat Account for low-risk investors | The Express Tribune
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[ad_1] KARACHI: In a bid to increase the number of retail investors at the bourse, the Pakistan Stock Exchange (PSX) has introduced Sahulat Account for people intending to enter the equity market. According to a statement issued by the PSX on Tuesday, customers can open the Sahulat Account with stockbrokers without submitting any specific evidence…
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SECP issues guidelines to facilitate listed firms | The Express Tribune
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[ad_1] ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued two sets of guidelines to facilitate and standardise the role of officers of listed companies and use of technology during general meetings. According to a statement issued on Tuesday, the guidelines will address the impediments faced by the listed companies, their shareholders and…
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Rupee fails to sustain Rs185 mark | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency dropped 0.62% (or Rs1.14) to a new historic low beyond the important threshold of Rs185 against the US dollar in the inter-bank market on Tuesday owing to sharp increase in trade deficit and the rumour that the International Monetary Fund (IMF) has placed $6 billion loan programme on hold. The…
