Business News
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Public debt soars by Rs18 trillion | The Express Tribune
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[ad_1] ISLAMABAD: The outgoing government added over Rs18 trillion to the public debt during its three-and-a-half-year stint, which was more than the liabilities accumulated by any government in 75 years, reveals a central bank statement. As a result, the federal government debt jumped to Rs42.8 trillion by February 2022, an addition of Rs18.1 trillion in…
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KCCI urges SBP to control currency devaluation | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) should play its role and devise effective strategy to stop further devaluation of rupee which is having a lethal impact on the economy and the inflation reading, said Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Idrees. In a statement on Tuesday , he expressing deep…
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K-P, OGDC sign deal for dam construction | The Express Tribune
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[ad_1] ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) and different departments of the government of Khyber-Pakhtunkhwa (K-P) have signed a memorandum of understanding (MoU) for the construction of a dam for the Nashpa Greater Water Supply Scheme (NGWSS) in Karak district. The departments of energy and power, irrigation and public health engineering were among…
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Rs26b sought for LNG subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division is seeking the release of Rs26 billion to clear pending subsidy claims on account of liquefied natural gas (LNG) supply to export-oriented sectors to avoid default on payments to the international LNG suppliers. Earlier, the Petroleum Division sent a summary to the Economic Coordination Committee (ECC), seeking allocation of Rs41…
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Market watch: Stocks close flat amid profit-taking | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange managed to make some recovery on Tuesday, as sceptical investors were observed hunting for lucrative stocks, especially in cement and fertiliser sectors, amid a number of negative cues. The benchmark KSE-100 index, after recording range-bound trading, added 26 points to close in the green zone. The prevailing volatility on…
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Ford recalls 737,000 vehicles | The Express Tribune
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[ad_1] WASHINGTON: Ford Motor Company is recalling 737,000 vehicles in the United States over a part that could develop oil leak and a software error that could hinder braking, it said on Friday. The automaker is recalling 345,451 of its 2020-2022 Ford Escape and 2021-2022 Ford Bronco Sport vehicles with 1.5L engines because the engine…
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More inflation pain ahead for Turkey | The Express Tribune
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[ad_1] LONDON: Wall Street banks predicted on Monday more price pressures ahead for Turkey after the country reported annual inflation rates climbing to a 20-year high of 61.14% in March. JPMorgan predicted Turkey’s annual inflation would hover in the 65-70% range until the very end of the year when it could fall to 44% due…
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CDNS to begin Islamic financing system | The Express Tribune
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[ad_1] ISLAMABAD: The Central Directorate of National Savings (CDNS) has announced that it will begin the implementation of Islamic financing system next month in a bid to facilitate the Islamic financial institutions of the country. In this regard, prize bonds and saving certificates would be issued for investment in accordance with the Shariah principles, a…
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RDA inflows inch closer to $4 billion | The Express Tribune
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[ad_1] KARACHI: Overseas Pakistanis have invested the second largest amount of $290 million in a month in their home country through the Roshan Digital Accounts (RDAs), as the cumulative inflows hit a record high of nearly $4 billion by the end of March 2022. The non-resident Pakistanis (NRPs) largely poured money- about two-thirds of the…
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Traders laments low kinnow export in current season | The Express Tribune
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[ad_1] LAHORE: The kinnow exports witnessed a drop of over 40% during the ongoing season and less than 200,000 tonnes of the fruit was shipped abroad against 460,000 tonnes last year, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former chairman Ahmad Jawad. Speaking to the media on Monday, he said that steep…
