Business News
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Fitch upgrades Pakistan credit rating
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[ad_1] The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. — Reuters Fitch Ratings has upgraded Pakistan’s credit rating, attributing the development to improved external funding prospects following a new International Monetary Fund (IMF) bailout. Although still below investment grade, analysts suggest that the upgrade…
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SBP slashes policy rate to 19.5% as inflationary pressures ease
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[ad_1] SBP Governor Jameel Ahmad addressing a press conference in Karachi on July 29, 2024. — Screengrab via Geo News The State Bank of Pakistan (SBP) on Monday cut the interest rate from 20.5% to 19.5%, marking the second consecutive reduction, in response to easing inflation and market expectations. Addressing a press conference after Monetary…
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SBP cuts interest rate by 100 bps to 19.5% | The Express Tribune
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[ad_1] The State Bank of Pakistan (SBP) on Monday announced a one per cent reduction in the interest rate, bringing it down to 19.5 per cent. This was revealed by SBP Governor Jameel Ahmad during a media briefing following the monetary policy meeting. Ahmad stated that inflation is gradually decreasing, and the country’s economy is…
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The dawn of a multi-currency world? | The Express Tribune
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[ad_1] KARACHI: The global financial system is on the brink of a major transformation, shifting from a US dollar-dominated regime to a multi-currency system involving the Chinese yuan, Russian ruble, Indian rupee, and other currencies. This shift, driven by geopolitical tensions and strategic economic policies, signals a significant move towards de-dollarisation. Recently, the European Union…
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Govt has complete data of 4.9m non-filers: FinMin Aurangzeb
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[ad_1] Finance Minister Muhammad Aurangzeb addressing a press conference in Islamabad on July 28, 2024. — YouTube /Geo News Live/screengrab Finance Minister Muhammad Aurangzeb has said that reforms are being introduced to the Federal Board of Revenue (FBR) as part of the government’s efforts to broaden the tax net by bringing 4.9 million non-filers into…
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China approves use of local coal for three Pakistan power plants | The Express Tribune
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[ad_1] China has approved the conversion of three coal-fired power plants in Pakistan from imported coal to local coal, a significant move aimed at reducing energy costs. Sources confirmed that Finance Minister Muhammad Aurangzeb and Energy Minister Owais Leghari, currently visiting China, facilitated the agreement. The plants affected include the 1,320 MW Sahiwal Coal Power…
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Trump vows to make US the crypto capital and Bitcoin superpower | The Express Tribune
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[ad_1] US Republican presidential candidate Donald Trump laid out his plan Saturday to ensure that the US will be the crypto capital of the planet and the Bitcoin superpower of the world. “If crypto is going to define the future, I want it mined, minted and made in the USA,” he told the Bitcoin Conference…
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US senator to propose 1-million-unit Bitcoin purchase program | The Express Tribune
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[ad_1] A US senator said Saturday she would soon introduce legislation to implement a “1-million-unit Bitcoin purchase program” for a set period. The proposal by Cynthia Lummis is intended to “supercharge the U.S. dollar” by establishing a strategic Bitcoin reserve to fortify the dollar against rising inflation, and “cement U.S. leadership in the rapidly evolving…
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Petrol prices likely to fall by August 1 | The Express Tribune
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[ad_1] The prices of petroleum products in the country are expected to decrease from August 1. According to media reports, petrol prices might drop by up to Rs3 per litre, while high-speed diesel (HSD) prices could see a reduction of Rs8.50 per litre. Additionally, the price of kerosene oil is anticipated to decrease by Rs9.11 per…
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Around 80 nations forge landmark digital commerce pact; US stands apart | The Express Tribune
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[ad_1] GENEVA: Around 80 countries agreed on rules governing global digital commerce, including the recognition of e-signatures and protection against online fraud, but failed to secure the participation of the United States, according to reports on Friday. After five years of negotiations, coordinators Australia, Japan, and Singapore released what they termed a “stabilised text,” which…
