Business News
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LPG segment demands targeted policy | The Express Tribune
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[ad_1] LAHORE: Stakeholders from the liquefied petroleum gas (LPG) sector have urged the government to announce a salvage plan in a bid to rescue the domestic LPG industry that is on the verge of collapse. While chairing an urgent meeting on Saturday, Pakistan LPG Marketers Association (PLPGMA) Chairman Farooq Iftikhar requested the government to devise…
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Construction activities slowing down | The Express Tribune
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[ad_1] KARACHI: Construction activities in the country have slowed down over the past three months mainly due to a steep surge in the cost of construction material particularly, steel and cement. “The demand for steel bars has dropped 20-25% over the past two to three months,” Amreli Steels Chief Operating Officer Hadi Akber Ali said…
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FBR offers to pick cost of loans | The Express Tribune
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[ad_1] ISLAMABAD: In a bizarre move, the Federal Board of Revenue has offered the pharmaceutical companies to pick the cost of loans that these firms have to take due to a delay in clearance of their genuine refunds by the tax machinery. The decision by the FBR is tantamount to an admission that the cost…
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KSE-100 falls due to political turmoil | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange endured a lacklustre trading week as jittery investors weighed the impact of rising political turmoil in the country coupled with persistent rupee depreciation and volatile global commodity prices. Subsequently, the benchmark KSE-100 index closed the week with a loss of 623.36 points or 1.44% at 43,030 point level. “The…
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India’s oil imports from US to rise | The Express Tribune
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[ad_1] NEW DELHI: India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation,…
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Investors bewildered over short term outlook of equities | The Express Tribune
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[ad_1] NEW YORK: Wall Street stormed back this week after absorbing a long-awaited rate hike from the Federal Reserve, leaving investors to determine whether stocks are set for a sustained rebound or more turbulence. Following a months-long drubbing, the S&P 500 delivered its best weekly gain since November 2020 as investors cheered increased clarity on…
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Footwear industry offers opportunities for China | The Express Tribune
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[ad_1] SHANGHAI: Pakistan’s footwear exports achieved a double-digit growth. The footwear exports of the country in the first eight months of fiscal year 2021-22 reached $104 million, a year-on-year increase of 17.7%, and the export volume was $12.09 million, a year-on-year increase of 9.08%, according to the latest data released by the Pakistan Bureau of…
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‘Faisalabad ready to lift economy’ | The Express Tribune
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[ad_1] FAISALABAD: After excelling in the field of textile, Faisalabad is ready to lead the national economy with phenomenal growth in conventional and emerging industrial sectors, remarked Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood. Speaking at the Pakistan Economic Conference (PEC) 2022 on Saturday, the PM aide appreciated the dynamism and…
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Current account deficit shrinks to $0.5 billion | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Imran Khan revealed on Friday that the country’s current account deficit had shrunk to $0.5 billion in February, the lowest monthly deficit recorded this fiscal year. The premier took to his official Twitter handle to state that “timely action to contain current account deficit” had borne fruit, and that the current…
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Rupee hits new low vs dollar | The Express Tribune
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[ad_1] KARACHI: The rupee weakened against the US dollar at Rs180.57 in the inter-bank market on Friday compared with Thursday’s close of Rs180.07, 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…
