Business News
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SBP leaves interest rate unchanged | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank on Tuesday left the key policy rate unchanged at 9.75% for the next six weeks, suggesting that the rate stands at an appropriate level to further reduce inflationary pressure and avoid an extended slowdown in economic growth in the ongoing fiscal year. It, however, said it may convene the next…
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LME cancels nickel trades after prices cross $100,000 | The Express Tribune
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[ad_1] LONDON: The London Metal Exchange (LME) was forced to halt trading in nickel and said it would cancel trades as prices doubled to more than $100,000 per tons on Tuesday, a surge sources blamed on short covering by one of the world’s top producers. The trading shutdown after Western sanctions threatened supply from major…
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Packaging sector seeks industry status | The Express Tribune
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[ad_1] LAHORE: The packaging sector is the backbone of all industries and the government should grant industry status to it in order to reap maximum benefits, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Management Committee Regional Chairman Punjab Muhammad Nadeem Qureshi. Talking to representatives of the All Pakistan Corrugated Cartons Manufacturers Association…
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Lack of support from govt vexes AJK traders | The Express Tribune
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[ad_1] MIRPUR: The business community has been struck the hardest during the Covid-19 lockdowns and no concrete steps have been taken by the government of Azad Jammu and Kashmir (AJK) to support it, said Mirpur (AJK) Chamber of Commerce and Industry President Faisal Manzoor. Addressing a policy advocacy workshop on Tuesday, he called upon the…
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Tech firm delays PSX listing | The Express Tribune
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[ad_1] ISLAMABAD: Coeus Solutions Limited – a tech firm that develops software – has postponed its planned listing at Pakistan Stock Exchange due to prevailing political and economic conditions in the country. Coeus Solutions’ decision to delay the initial public offering (IPO) highlights the cost that investors may have to pay if the current phase…
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Attack on Ukraine: Shell stops Russian oil purchases
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[ad_1] Photo: AFP/file LONDON: In line with the UK government’s guideline, Energy giant Shell said Tuesday it would withdraw from its involvement in Russian gas and oil, including an immediate stop to purchases of crude from the country. The UK-based company also issued an apology for buying a cargo of Russian crude oil last…
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Market watch: Stocks falter as political uncertainty deepens | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange endured another volatile trading session on Tuesday, as jittery investors continued to weigh the impact of domestic political turmoil and surging global crude oil and commodity prices. The benchmark KSE-100 index came under across-the-board selling pressure and ended the day in the negative territory for the second consecutive session.…
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Oil gains as spectre of sanctions on Russian oil spurs worry | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Tuesday, with Brent surging past $127 a barrel, as the possibility of formal US sanctions against Russian oil exports spurred concerns over supply. Benchmark Brent crude futures for May climbed $3.56, or 2.9%, to $126.77 a barrel at 11:03 GMT. US West Texas Intermediate (WTI) crude futures for April…
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Monetary policy: SBP leaves interest rate unchanged at 9.75% | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, the State Bank of Pakistan left the benchmark interest rate unchanged at 9.75% for the next one and half month on Tuesday. The market had expected status quo in the interest rate after the State Bank of Pakistan (SBP) strongly hinted at status quo in the policy rate…
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Rupee near all-time low | The Express Tribune
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[ad_1] KARACHI: The rupee weakened against the US dollar at Rs178.13 in the inter-bank market on Monday compared with Friday’s close of Rs177.5, according to the State Bank of Pakistan (SBP). On December 29, 2021 the rupee hit an all-time low of Rs178.24 against the greenback as demand for the dollar stood higher compared to…
