Business News
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Rupee likely to be ‘weakened amid rising trade balance’ | The Express Tribune
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[ad_1] Pakistan’s currency could be weakened as the surge in energy and commodities prices deepens the nation’s current account deficit, according to Deutsche Bank AG’s country head, referring to the broadest measure of trade, a report published in Bloomberg stated. “That’s a key concern for the economy and for the business community,” the bank’s chief…
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Market watch: KSE-100 recoups losses, closes above 43,500 | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange made a U-shaped recovery on Thursday as the benchmark KSE-100 index erased losses, suffered in the first half of trading session, to close above the 43,500-point mark. Investor interest stemmed from anticipation of the resolution of domestic political issues, however, a jump in yields in the latest T-bills auction…
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Foreign exchange: SBP reserves drop $869m to $14.96b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 5.49% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 18, the foreign currency reserves held by the SBP were recorded at $14,962.4 million, down $869 million compared with $15,831.6 million on March…
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Moscow stock exchange partially reopens after one-month closure
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[ad_1] This file photo taken on February 28, 2022, shows the Moscow´s stock market building in downtown Moscow. — AFP/File MOSCOW: The Moscow Stock Exchange resumed trading of some shares Thursday, the second stage in a phased re-opening after being suspended for a month due to Russia’s military operation in Ukraine. Trading renewed for only…
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Pakistan in talks with Russia for LNG imports | The Express Tribune
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[ad_1] ISLAMABAD: As Russia develops the Yamal LNG project facility — Islamabad and Moscow are in talks to a multi-billion dollar government-to-government import deal. The Yamal LNG Project includes the development of the giant South Tambey (Tambeyskoye) gas field that is located near Sabetta in the Yamal peninsula in Russia. The Russian government has declared…
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Oil prices jump, stocks fall over inflation, Russia concerns
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[ad_1] Photo: AFP LONDON: Oil prices surged while stock markets fell on Wednesday on renewed fears over Russian energy supplies and soaring inflation. Crude futures jumped more than 4% with Brent North Sea, the international benchmark, exceeding $120 per barrel. Russian Deputy Prime Minister Alexander Novak on Wednesday warned that a ban on Russian oil…
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Govt foresees 5% GDP growth in FY22 | The Express Tribune
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[ad_1] KARACHI: Inflation has become a global challenge and the US, UK, European Union and all emerging markets are currently facing the highest inflation in the last three decades, said the Finance Division while responding to criticism over the state of Pakistan’s economy. “Pakistan’s economy is also facing inflation headwinds due to record high international…
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Gwadar Free Zone phase-II set in motion | The Express Tribune
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[ad_1] BEIJING: In a major development, Gwadar Free Zone (phase-II) goes into formal action in true letter and spirit after the initiation of land allocation process and soil testing rolled out by registered companies. Gwadar Free Zone (phase-I) is already completed and functional. The get-going makes a headway within 32 weeks after Pakistan Prime Minister…
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Businesses embrace cloud technology to boost profit | The Express Tribune
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[ad_1] KARACHI: Businesses in Pakistan are rapidly adopting cloud technology as they see it as a way to accelerate business activities and inflate profits while consuming minimal resources. To have a clearer picture of the technological revolution, The Express Tribune reached out to Oracle Senior Director and Head Cloud Platform Group in Pakistan and Afghanistan…
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Inflation likely to slip further | The Express Tribune
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[ad_1] KARACHI: The latest jump in cut-off yields on 3-12 months sovereign papers – T-bills – suggests that the benchmark interest rate and inflation reading are close to “peaking out” and economic activities are bound to gain momentum in Pakistan. The cut-off yields on 3-12 months T-bills stood higher compared to the longer-tenure papers like…
