Business News
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Hungary hopes inflation will dip below 6% | The Express Tribune
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[ad_1] BUDAPEST: Hungary’s government hopes inflation will ease back below 6% by the end of 2022 paving the way for a phasing out of price caps on basic foods, fuel and mortgages, Prime Minister Viktor Orban said on Saturday. Inflation, which hit a near 15-year high of 7.9% at the start of the year, plus…
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Surging oil prices add to worries of frazzled investors | The Express Tribune
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[ad_1] NEW YORK: A US stock market, already on edge from a hawkish Federal Reserve and a conflict between Russia and Ukraine, now has another worry ie higher oil prices. US crude prices stand at around $91 a barrel after surging some 40% since December 1 and earlier this week touched their highest level since…
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Rupee drop: winners and losers | The Express Tribune
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[ad_1] ISLAMABAD: In the past three and a half years, the local currency has depreciated by around 31% against the US dollar to stand at Rs175.86 in the inter-bank market on Friday (February 18). Experts believe that this devaluation has tremendously increased inflation besides raising the country’s debt to an unsustainable level. The Express Tribune…
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Pandemic turbulence | The Express Tribune
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[ad_1] PUBLISHED February 20, 2022 KARACHI: If the terrorist attacks of September 11, 2001, triggered the most significant contraction in the airline industry’s history, the onset of the Covid-19 pandemic can easily qualify as apocalypse for global aviation. Shortly after the attacks that jolted the US and the world, more than two decades ago, travelers…
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Govt requested to increase electricity tariff by Rs6.10
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[ad_1] — AFP/File ISLAMABAD: The Central Power Purchasing Agency (CPPA) on Saturday requested the National Electric Power Regulatory Authority (NEPRA) for an increase of Rs6.10 in the electricity tariff on account of the monthly fuel cost adjustment (FCA) for January. “In January, the reference fuel cost was about Rs 6.51 per unit,” the CPPA said,…
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SPI rises 0.22% | The Express Tribune
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[ad_1] The Sensitive Price Indicator (SPI) for the week ended February 17, 2022 registered an increase of 0.22% for the combined income group, going up from 169.23 points during the week ended February 10, 2022 to 169.61 points in the week under review. The SPI for the combined income group rose 18.09% compared to the…
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Pakistan Railways asked to revamp strategy | The Express Tribune
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[ad_1] FAISALABAD: Pakistan Railways (PR) should revisit its strategy to run maximum number of fast passenger and cargo trains, proportionate to their capacity, from main stations in order to become a profitable entity, suggested Faisalabad Chamber of Commerce and Industry (FCCI) President Atif Munir Sheikh. In a meeting with the PR technical team on Friday,…
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Car financing drops by Rs2b in January | The Express Tribune
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[ad_1] KARACHI: The outstanding car financing eventually dropped 0.6% (or Rs2 billion) on a month-on-month basis to Rs352 billion in January 2022, breaking the upward streak witnessed over the past 18 months. Earlier, the authorities concerned engineered a programme to decelerate the demand for imported cars in a bid to narrow the unsustainable current account…
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Meeting discusses plan for industrial expansion | The Express Tribune
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[ad_1] ISLAMABAD: The government is taking steps to boost the development of industrial sector on a priority basis because it is essential for the country’s economic progress, said Prime Minister Imran Khan. Chairing a meeting on the development of industrial sector on Friday, the PM said that for the first time in history, a policy…
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PTA implements rationalisation plan | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Telecommunication Authority (PTA) has implemented a rationalisation plan for 1,800 MHz spectrum to increase the efficiency of telecom sector. “PTA conducted a spectrum auction in September 2021 in accordance with the policy directive of the government of Pakistan issued on August 4, 2021,” said a PTA statement on Friday. Accordingly, a rationalisation…
