Business News
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Textile sector welcomes industrial package | The Express Tribune
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[ad_1] FAISALABAD: Textile exporters have welcomed the industrial support package, announced by Prime Minister Imran Khan, and stated that it focused on industrialisation, foreign exchange inflows and revival of sick industrial units. They added that the scheme sets pro-growth measures in place to steam up industrialisation, boost exports and place the country’s economy on path…
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Car assembler jacks up prices | The Express Tribune
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[ad_1] KARACHI: The Indus Motor Company (IMC) has hiked the prices of different models of its cars in the range of Rs287,000 to Rs1.26 million owing to a significant surge in import cost. “Yes, we have increased the prices,” IMC CEO Ali Asghar Jamali confirmed The Express Tribune. “The increase in freight charges, rupee-dollar parity…
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Pakistan bags $300m ADB loan | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Tuesday got $300 million loan from the Asian Development Bank for budget financing and building of reserves that have already slipped below $16 billion. The global lender approved $300 million loan to further develop Pakistan’s capital markets, promote private investment in the country and help to mobilise domestic resources to finance…
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Russia default would have ‘limited’ global impact: IMF | The Express Tribune
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[ad_1] WASHINGTON: The consequences for the global financial system if Russia cannot pay its foreign debts are likely to be “limited,” a senior IMF official said Tuesday. The United States and its allies have imposed tough financial sanctions on Russia in retaliation for its invasion of Ukraine, but Moscow so far has made debt payments.…
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Traders demand focus on Halal food export | The Express Tribune
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[ad_1] KARACHI: Businessmen have called upon the government and the private sector to make serious efforts to enable Pakistan to gain its due share in the global Halal food segment. Despite being a Muslim majority country, Pakistan’s share in the global Halal food trade is mere 0.26%, said Pakistan Businesses Forum Vice President Ahmad Jawad…
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Thai Airways resumes flights | The Express Tribune
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[ad_1] KARACHI: Thai Airways has resumed its services from Karachi and Islamabad, announced Thai Airways Team Lead for Area Weerachart Tiamtikumporn. In a statement on Tuesday, he said that Pakistan was a large market for Thailand and to the world. “Being the national carrier, the airline provides convenient travel facilities to Pakistani passengers,” he said.…
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Pak Suzuki returns to profit, earns Rs2.7b | The Express Tribune
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[ad_1] KARACHI: Pak Suzuki Motor Company reversed losses in 2021 as it recorded a profit of Rs2.68 billion due to the plunge in finance cost coupled with the spike in other income. According to a notice sent to the Pakistan Stock Exchange on Tuesday, the company had reported a loss of Rs1.38 billion in 2020.…
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Oil scarcity lifts import premiums | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is going to face another setback as premiums on oil import have risen sharply due to the shortage of petroleum products, especially diesel, in the global market following the Russia-Ukraine war. According to sources, Pakistan had been paying a premium of 3% to 4.5% on the import of petrol and diesel, but…
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Stocks close flat on profit-taking | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a range-bound trading session on Tuesday, as jittery investors resorted to profit-booking mainly owing to the uncertain political situation in the country. The benchmark KSE-100 index, after remaining in the green zone for most of the day, succumbed to late-session selling pressure and ended the day with a…
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Oil rises towards $116 as EU weighs Russian ban | The Express Tribune
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[ad_1] LONDON: Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian…
