Business News
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Oil drops $6 on positive signals from Russia-Ukraine peace talks | The Express Tribune
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[ad_1] LONDON: Oil prices dropped on Tuesday, extending losses from the previous day on signs of progress in talks between Russia and Ukraine to end their weeks-long conflict, with prices further pressured by China’s new lockdowns to curb the spread of the coronavirus. Brent crude fell $6.51, or 5.8%, to $105.97 a barrel by 1342…
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Yarn makers demand cut in taxes, duties | The Express Tribune
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[ad_1] KARACHI: The yarn manufacturers have urged government to reduce the customs duty imposed on polyester preoriented yarn (POY). In a statement on Monday, the Pakistan Yarn Merchants Association (PYMA) demanded the government to cut the customs duty, sales 5ax, withholding tax on income and abolish regulatory duty and additional customs duty on yarn in…
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Sindh vows to resolve environmental issues | The Express Tribune
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[ad_1] KARACHI: Adherence to the environmental laws is mandatory for all sectors and the government is taking steps to address environmental issues of the province on a priority basis, said Sindh Additional Chief Secretary of Environment and Climate Change Muhammad Hassan Iqbal. Speaking to the members of the Korangi Association of Trade and Industry (KATI)…
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Inflationary, external risks adding to macroeconomic imbalances | The Express Tribune
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[ad_1] ISLAMABAD: The government has taken various steps and administrative measures to counter the downside risks to the economy. Although economic recovery is underway, the domestic and international scenario is changing over the course of time, revealed the Monthly Economic Update and Outlook for March 2022, issued by the Ministry of Finance on Monday. “Thus,…
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ADB to give $300m for capital market development | The Express Tribune
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[ad_1] ISLAMABAD: The government of Pakistan is committed to introducing reforms in diverse areas including domestic resource mobilisation, climate change and public-private partnership, said Federal Minister for Economic Affairs Omar Ayub Khan. Witnessing the signing of Capital Market Development Programme (sub-programme 2) amounting to $300 million, he said that domestic resource mobilisation would help the…
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No respite for falling rupee | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee on Monday maintained its record-breaking downward streak, as it depreciated beyond Rs182 against the US dollar for the first time in history owing to strengthening of the greenback globally and elevated international oil prices. The rupee freshly depreciated 0.23% and hit a new all-time low at Rs182.19 against the US dollar…
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Tarin calls for stopping fertiliser smuggling | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Finance and Revenue Shaukat Tarin has expressed concern over the smuggling of fertiliser to neighbouring countries, directing the Federal Board of Revenue (FBR) to immediately take action against it in order to ensure price stability. Chairing the National Price Monitoring Committee (NPMC) meeting on Monday, Tarin also directed the Ministry of…
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Chinese firm offers to help in 5G rollout | The Express Tribune
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[ad_1] DUBAI: A Chinese technology giant has expressed interest in supporting 5G rollout in Pakistan by sharing its expertise to enhance social sector development and economic growth in the country. Responding to The Express Tribune queries at the Huawei Cloud Middle East and Africa 2022 roundtable in Dubai on Monday, Huawei Vice President of Global…
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Policy loans adding to country’s debt | The Express Tribune
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[ad_1] BHURBAN: The policy advisory loans given by international creditors are pushing Pakistan further deep into the debt burden, which the government can avoid by relying on its researchers, says a former official of the International Monetary Fund (IMF). Government-owned Pakistan Institute of Development Economics (PIDE) Vice Chancellor Dr Nadeemul Haque said that the advice…
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Huawei reports record net profit as exec Meng makes public return
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[ad_1] Photo: AFP/file BEIJING: Chinese telecoms giant Huawei on Monday reported record profit for 2021, defying the US sanctions aimed at it as executive Meng Wanzhou made her first public appearance since returning to China from Canadian custody. The company has been caught in the crosshairs of a US-China trade and technology rivalry, with the…
