Business News
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Oman envoy regrets drop in trade | The Express Tribune
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[ad_1] KARACHI: The trade volume between Pakistan and Oman has descended from $650 million to $250 million due to Covid-19, lamented Oman Consul General Muhammad Nasser Hamed Al Mabsali. Speaking to businessmen during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Friday, he termed it necessary for the two Muslim countries…
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FATF retains Pakistan on grey list | The Express Tribune
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[ad_1] KARACHI: The Financial Action Task Force (FATF) announced on Friday it retained Pakistan on its grey watch list though the global financial watchdog noted Islamabad’s “persistent political commitment” to implement its action plan. The announcement came after the conclusion of the sixth plenary of the FATF held under the German Presidency of Dr Marcus…
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Russia and Ukraine: China’s trade partners in numbers
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[ad_1] A man finishes glueing huge placards bearing images of Russian President Vladimir Putin and reading “Russia does not start wars, it ends them” (L) and “We will aim for the demilitarisation and denasification of Ukraine” in the city center of Simferopol, Crimea, on March 4, 2022. — AFP BEIJING: Russia’s economy has been hit…
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Market watch: Stocks edge up in range-bound session | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed another range-bound session on Friday, as sceptical investors continued to stay on the sidelines owing to prevailing volatility on the international and domestic fronts. The benchmark KSE-100 index, after oscillating in a narrow range throughout the day, managed to close the week on a positive note. Anticipation of…
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Oil rises above $112 as Ukraine conflict offsets Iran supply hope | The Express Tribune
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[ad_1] LONDON: Oil rose above $112 a barrel on Friday in a volatile session as fears over disruption to Russian oil exports in the face of Western sanctions offset the prospect of more Iranian supplies in the event of a nuclear deal with Tehran. Signs of an escalation in the Russia-Ukraine conflict, with reports of…
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Bank of Canada to act aggressively | The Express Tribune
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[ad_1] OTTAWA: The Bank of Canada said on Thursday it would act “with determination” to rein in soaring prices, saying a failure to act decisively would make it much more painful to bring inflation back to target. Bank of Canada Governor Tiff Macklem, speaking to a business audience, said the central bank did not intend…
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SAARC CCI seeks assistance for Kabul | The Express Tribune
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[ad_1] ISLAMABAD: It is better to engage Afghanistan and help normalise its economic conditions instead of weakening the country through unjustified and unwarranted unilateral sanctions, remarked Saarc Chamber of Commerce and Industry President Iftikhar Ali Malik. Talking to a delegation of traders from south Punjab, led by former Federation of Pakistan Chambers of Commerce and…
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SBP reserves fall $344m to $16.46b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 2.05% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On February 25, the foreign currency reserves held by the SBP were recorded at $16,462.3 million, down $344 million compared with $16,806.5 million on February…
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SBP focusing on P2C under Raast | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is working to roll out product-to-consumer (P2C) digital payment system under Raast this year which will create an enabling environment for e-commerce business to thrive in the country. The instant payment system would lead the way for the central bank to introduce its own digital currency in future. “The next…
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Cement sales shrink 4.75% in February 2022 | The Express Tribune
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[ad_1] LAHORE: Cement sales contracted 4.75% in February 2022 and reached 4.36 million tons against 4.57 million tons in the same month of previous year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA) on Thursday, local sales by the cement industry stood at 3.95 million tons in February 2022, which was…
