Business News
-
REER appreciates to 97.03 in January 2022 | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s real effective exchange rate (REER) – the value of country’s currency against a basket of currencies of global trading partners –appreciated slightly to 97.03 points but still remained close to its fair value and indicated that exports were competitive. The REER index stood at 97.03 in January 2022 compared to 96.79 in…
-
Another big rise in oil prices likely | The Express Tribune
.
[ad_1] ISLAMABAD: As tensions boil over in Europe after Russia’s invasion of Ukraine, the prices of petroleum products in Pakistan are likely to surge by up to Rs9.59 per litre from March 1, 2022. In mid-February, the government has already made a record increase in prices of petroleum products, when it raised the price of…
-
Twin deficits to remain ‘higher’ | The Express Tribune
.
[ad_1] ISLAMABAD: Slippages are expected against the budget targets set for fiscal and external sectors — the mother of the country’s economic crisis — as the policy measures to contain imports could not create an impact, revealed a new government assessment released on Friday. The mid-year (July-December) economic review report by the planning and development…
-
Market watch: Stocks rally as global equities recover | The Express Tribune
.
[ad_1] KARACHI: The Pakistan Stock Exchange on Friday got some relief from yesterday’s free fall and recovered slightly as a rebound in global equity markets and slide in international crude oil prices revived the interest of nervous investors. The benchmark KSE-100 index, despite minor fluctuations, mostly stayed in the positive territory to close last day…
-
China’s forex market transacts 19.45 trillion yuan in January | The Express Tribune
.
[ad_1] BEIJING: China’s foreign exchange (forex) market recorded transactions of 19.45 trillion yuan, equivalent to 3.06 trillion US dollars, in January, official data showed Friday. Specifically, the transaction volume of the client market totalled 3.32 trillion yuan last month, while that of the interbank market was 16.13 trillion yuan, said the State Administration of Foreign…
-
Oil prices take breather as Russia advances further on Ukraine | The Express Tribune
.
[ad_1] LONDON: Oil prices slipped on Friday, after sharp rises in the session, on concern over potential global supply disruptions from sanctions on major crude exporter Russia. The April Brent crude futures contract was down $0.33, or 0.3%, to $98.75 a barrel at 1045 GMT, after climbing to as high as $101.99. The more active…
-
SSGC director suspected of insider trading | The Express Tribune
.
[ad_1] ISLAMABAD: A board member of a public gas utility, appointed by the government, has bought 200,000 shares of the company in the name of his wife, raising questions of possible insider trading. Sui Southern Gas Company (SSGC) is a public utility whose major shareholder is the government of Pakistan having 81% shares through the…
-
Wheat donation to Kabul withdrawn | The Express Tribune
.
[ad_1] ISLAMABAD: The government on Thursday reversed its decision to donate 50,000 tons of wheat to Afghanistan and also rejected a proposal to fix wheat procurement price at Rs2,200 per 40 kg for the new crop. The Economic Coordination Committee (ECC) of the cabinet deferred a proposal to give the nod to a Ramazan relief…
-
Oil tops $105 after Russia attacks Ukraine | The Express Tribune
.
[ad_1] NEW YORK: Oil prices jumped on Thursday, with Brent crude rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply. Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against…
-
Current account gap soars to $2.56b | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s economy received a shock on Thursday when the central bank reported that the current account deficit (CAD) – the gap between country’s higher foreign expenditures and lower income – widened to a historic high at $2.56 billion in January 2022. A hefty import bill and drop in the flow of workers’ remittances…
