Business News
-
Bitcoin mimics stocks rally, hits two-week high | The Express Tribune
.
[ad_1] WASHINGTON: Bitcoin hit its highest in two weeks on Saturday, extending the previous session’s strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets. The world’s largest cryptocurrency hit $41,983, taking gains from Thursday’s lows to nearly 16%, and marking a 27% rise from the year’s low…
-
US lawmakers advance competition bill | The Express Tribune
.
[ad_1] WASHINGTON: US lawmakers voted on Friday to green-light a multibillion-dollar bill aimed at jumpstarting hi-tech research and manufacturing, countering China’s growing influence and easing a global shortage of computer chips. The House Democrats’ America Competes bill, their version of the Senate-passed $250 billion US Innovation and Competition Act, was approved in a 222-210 vote…
-
Stocks rally on investor optimism | The Express Tribune
.
[ad_1] KARACHI: The outgoing week sparked optimism among investors at the Pakistan Stock Exchange, which fuelled a rally, driven by the much-awaited revival of International Monetary Fund’s (IMF) $6 billion loan programme coupled with robust corporate results. Strong investor interest, stemming from a host of positive developments, helped sustain a buying spree and lifted the…
-
Plan unveiled to add 500MW renewable power to national grid | The Express Tribune
.
[ad_1] CDC Group and Gul Ahmed Metro Group (GAM) on Saturday joined hands to form the Metro-BII Renewables joint venture to develop and operate up to 500 megawatts of renewable energy assets in Pakistan. The venture will build on the existing partnership between the UK’s development finance institution and GAM, a Pakistani family-owned business with…
-
IMF slaps six new conditions on Pakistan | The Express Tribune
.
[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has slapped six more conditions on Pakistan, including increasing individual income tax rates and power tariffs while also faulted Finance Minister Shaukat Tarin’s first budget for increasing macroeconomic vulnerabilities. The IMF on Friday released its detailed report on the health of Pakistan’s economy and the status of the…
-
Pakistan moves to address China’s Gwadar concerns | The Express Tribune
.
[ad_1] ISLAMABAD: Pakistan has agreed to include the much-delayed Gwadar power plant in its highest priority schemes for clearance of electricity purchase dues in a bid to address the biggest concern of China. The step will also help provide electricity to the crown of China-Pakistan Economic Corridor – Gwadar – that faces 12 to 16…
-
SPI increases 1.35% | The Express Tribune
.
[ad_1] The Sensitive Price Indicator (SPI) for the week ended February 3, 2022 registered an increase of 1.35% for the combined income group, going up from 167.11 points during the week ended January 27, 2022 to 169.37 points in the week under review. The SPI for the combined income group rose 19.53% compared to the…
-
SBP receives $1 billion IMF loan tranche | The Express Tribune
.
[ad_1] KARACHI: The State Bank of Pakistan (SBP) has received a loan installment of $1.053 billion from the International Monetary Fund (IMF) under the $6 billion Extended Fund Facility (EFF). “Following the successful completion of sixth review of the IMF programme, SBP has received the next tranche of $1.053 billion,” the State Bank of Pakistan…
-
Govt mulls bonus for public servants | The Express Tribune
.
[ad_1] ISLAMABAD: The government has formed a committee to firm up proposals for a proper incentive scheme that will give bonus to the well-performing public servants. The body was constituted following conflicting views of cabinet members and the cabinet secretary on the offer of performance bonus. The issue came up for discussion in a recent…
-
Synthetic fibre can accelerate textile exports | The Express Tribune
.
[ad_1] KARACHI: Industry experts believe that by substituting cotton with synthetic fibre, Pakistan can further boost the textile exports far above the $30 billion mark. In a statement issued on Friday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Vice President Hanif Lakhany pointed out that cotton prices had almost doubled in the international…
