Business News
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Experts positive about foreign handsets registration | The Express Tribune
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[ad_1] KARACHI: Telecom sector experts have appreciated Pakistan Telecommunication Authority’s (PTA) decision to develop a new mechanism for the temporary registration of handsets belonging to the overseas Pakistanis and foreigners visiting the country. They have also urged the government to turn the mechanism into a long-term solution in a bid to enable the expatriates and…
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SBP reserves fall $250m to $16.21 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 1.52% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 4, the foreign currency reserves held by the SBP were recorded at $16,212.2 million, down $250 million compared with $16,462.3 million on February…
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Automobile sales rise by 32% in Feb | The Express Tribune
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[ad_1] KARACHI: Automobile sales registered a handsome growth of 32% year-on-year to 21,664 units in February 2022. On a month-on-month basis, the sales increased by 5%, according to data released by the Pakistan Automotive Manufacturers Association (PAMA). During the first eight months of current fiscal year, automobile sales registered an increase of around 56% year-on-year…
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February remittances reach $2.2b | The Express Tribune
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[ad_1] KARACHI: The remittances sent home by overseas Pakistanis inched up 2% month-on-month to $2.2 billion in February 2022. The thin increase in remittances came following the resumption of global travel and non-inclusion of proceeds from the Roshan Digital Account in the overall remittances. According to the State Bank of Pakistan (SBP), the country received…
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Traders sound alarm on rising imports | The Express Tribune
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[ad_1] LAHORE: Government should check the widening trade deficit by discouraging the flow of unnecessary imports that are burdening the national kitty of Pakistan, said South Asian Association for Regional Cooperation (SAARC) Chamber of Commerce and Industry Iftikhar Ali Malik. Speaking to a delegation of traders on Thursday, he said that the deficit widened by…
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SBP for including excluded segments in banking | The Express Tribune
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[ad_1] KARACHI: The vision of full financial inclusion in the country cannot be achieved without bringing the excluded segments of society in the formal banking sector, said State Bank of Pakistan (SBP) Governor Reza Baqir. Addressing an event titled “Moving towards Inclusive Pakistan”, he emphasised that persons with disabilities must enjoy fair and equal access…
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Oil prices slide in volatile session | The Express Tribune
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[ad_1] BENGALURU: Oil prices gave up gains to trade lower on Thursday after its biggest plunge in two years in the previous session, as traders debated if the market’s supply disruption concerns were overdone after Russia pledged to fulfill contractual obligations. Since Russia’s February 24 invasion of Ukraine, oil markets have been the most volatile…
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Govt to tax Chinese petrol import | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to impose 10% regulatory duty on the import of petrol from China aimed at plugging a loophole that is exploited by the oil marketing companies to avoid taxes, which has caused over Rs40 billion losses in just a few months. The Federal Board of Revenue (FBR) has prepared a…
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Swiss banking giant Credit Suisse reveals over $900m exposure to Russia
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[ad_1] Credit Suisse. Photo: AFP ZURICH: Swiss banking giant Credit Suisse said Thursday that its exposure to Russia totalled over $900 million at the end of last year, with “minimal” links to individuals sanctioned over the Ukraine war. Russia has been hit with crippling sanctions and traditionally neutral Switzerland last week aligned itself with…
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Pakistan, Afghanistan agree on free movement of cargo trucks | The Express Tribune
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[ad_1] Pakistan and Afghanistan have agreed to free movement of trucks and staff between the two countries, boosting bilateral trade prospects under the Taliban-led government. The agreement was reached under the Temporary Admission Document (TAD), which would come into effect on March 21, Tolo News reported. “We have finally done it! Historical development on regional…
