Business News
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Pakistan, US to deepen trade ties | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the United States have pledged to strengthen trade ties and business-to-business contacts to enhance the bilateral trade volume. During an inter-sessional meeting under Pakistan-United States Trade and Investment Framework Agreement (TIFA) in Islamabad on Thursday, the two sides discussed a wide array of issues to foster bilateral trade and investment. Moreover,…
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GSP Plus boosts exports to European Union | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s exports to the European Union (EU) have surged 86% from 2013 to 2021 due to the GSP Plus status granted by the EU to the country. The mutually beneficial deal led to increase in exports of both Pakistan and EU, stated the GSP Handbook. Pakistan’s exports to the EU increased from €3.56…
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Big oil sector players ‘left out’ of key meeting | The Express Tribune
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[ad_1] ISLAMABAD: Oil marketing companies (OMCs) and refineries have complained that the Oil and Gas Regulatory Authority (OGRA) ignored major industry players in a meeting held on Wednesday. In this regard, the Oil Companies Advisory Council (OCAC) has written a letter to Ogra chairman, lodging its protest and showing serious concern over the matter, sources…
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PM picks his aide for World Bank | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Imran Khan has appointed his secretary Azam Khan as executive director of the World Bank for a term of four years by short-circuiting a process that requires interviews and tests of candidates. The government on February 21 issued a notification for the appointment of Mohammad Azam Khan, Secretary to the Prime…
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Oil jumps more than 5% on Russia tensions
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[ad_1] The price of benchmark oil contract, Brent North Sea crude, jumped more than 5% to back above $100 per barrel after Russia rejected a ruling from the UN’s court to suspend its Ukraine offensive. Photo: AFP LONDON: Oil prices soared Thursday on tensions surrounding key producer Russia, as equities diverged with traders tracking also…
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Market watch: KSE-100 erases gains to close lower | The Express Tribune
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[ad_1] KARACHI: Volatility gripped the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 index lost 169 points owing to a host of discouraging news reports. Growing political turbulence, with parliament inching closer to a vote on the no-confidence motion, weakened investors’ interest in making stock purchases in the market. Moreover, a fresh rupee slump…
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SBP reserves fall $381m to $15.83b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 2.35% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 11, the foreign currency reserves held by the SBP were recorded at $15,831.6 million, down $381 million compared with $16,212.2 million on March…
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‘Be ready to lose all your money in crypto’ | The Express Tribune
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[ad_1] LONDON: Consumers risk losing all their money invested in cryptoassets and could fall prey to scams, the European Union’s securities, banking and insurance watchdogs said in a joint statement on Thursday. “Consumers face the very real possibility of losing all their invested money if they buy these assets,” the three EU authorities said in…
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Committee to review oil, gas imports | The Express Tribune
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[ad_1] ISLAMABAD: The Senate Standing Committee on Cabinet Secretariat has set up a three-member sub-committee to review the modalities of oil and gas imports and electricity pricing. The sub-committee will submit its report to the standing committee after due deliberations. Nepra and Ogra on Wednesday gave a detailed briefing to the parliamentary panel, which met…
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Yields in secondary market increase | The Express Tribune
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[ad_1] KARACHI: The government’s cost of borrowing from commercial banks surged by 88-115 basis points on Wednesday as the financial institutions offered money for three to 10 year tenors at a higher markup rate on the outlook that the central bank would increase the benchmark interest rate in the middle of next month. The government…
