Business News
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Private sector loans tick up | The Express Tribune
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[ad_1] KARACHI: The banks’ outstanding credit to the private sector surged 17% over the past one year to Rs9.96 trillion at the end of February, as the government’s pro-growth policies motivated businesses to expand their production lines despite mounting lending rate and inflation reading. The outstanding credit to the private sector (advances) stood at Rs8.52…
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FBR’s track and trace system achieves major milestone | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has achieved a milestone through successful implementation of the track and trace system on the sugar industry during the ongoing crushing season. The innovative digital monitoring system of sugar production has been implemented on 79 sugar mills, having 151 production lines nationwide. It is pertinent to mention…
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Sindh to move against WACOG bill | The Express Tribune
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[ad_1] ISLAMABAD: The federal government is going to face a blow on LNG pricing as the government of Sindh has decided to become a party in a case on weighted average cost bill that has been challenged in the Sindh High Court. Recently, a private party challenged the weighted average cost of gas (Wacog) bill…
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KSE-100 recovers in short trading week | The Express Tribune
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[ad_1] KARACHI: Despite the prevailing uncertainties on the domestic and international front, the Pakistan Stock Exchange exhibited some recovery during the past week mainly owing to the plunge in current account deficit (CAD) during February 2022 coupled with the landmark resolution of the Reko Diq dispute. Subsequently, the benchmark KSE-100 index closed the week with…
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US investors shift to safe havens amid volatility | The Express Tribune
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[ad_1] NEW YORK: Side-by-side declines in US equity and fixed income markets are pushing investors into cash, commodities and dividend-paying stocks as geopolitical uncertainty and worries over a hawkish Federal Reserve rock asset prices. With the first quarter of 2022 winding down, the S&P 500 is down around 5% year-to-date, after falling as much as…
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Argentina to receive $9.7b under $44b debt deal: IMF | The Express Tribune
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[ad_1] WASHINGTON: The IMF executive board on Friday approved a $44 billion loan for Argentina to help the inflation-wracked country’s economy, with $9.7 billion of the funding available immediately. The Washington-based crisis lender said the financing “aims to provide Argentina with balance of payments and budget support” and also “strengthen debt sustainability, tackle high inflation,…
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SPI increases 1.1% | The Express Tribune
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[ad_1] The Sensitive Price Indicator (SPI) for the week ended March 24, 2022 registered an increase of 1.1% for the combined income group, going up from 169.06 points during the week ended March 17, 2022 to 170.92 points in the week under review. The SPI for the combined income group rose 15.67% compared to the…
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Rupee hits new low at 181.78 | The Express Tribune
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[ad_1] KARACHI: The rupee weakened against the US dollar at Rs181.78 in the inter-bank market on Friday compared with Thursday’s close of Rs181.73, according to the State Bank of Pakistan (SBP). It was an all-time low value for the local currency as demand for the dollar stood higher compared to its supply in the wake…
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Senators inquire about KAPCO contract | The Express Tribune
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[ad_1] ISLAMABAD: The Senate Standing Committee on Power on Friday inquired about the permission given for the extension of contract to Kot Addu Power Company (Kapco) till October 2022. The committee, which met under the chairmanship of Saifullah Abro, questioned in what capacity the extension was granted to Kapco and why the transactions were not…
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PSW portal to aid traders in exploring markets | The Express Tribune
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[ad_1] KARACHI: In a first, Pakistan has conducted the soft launch of a web portal that disseminates information about which products are being imported, their origin and quantity and what Pakistan is exporting across the globe. The information is aimed at facilitating domestic manufacturers and traders in exploring import and export markets around the world.…
