Business News
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IMF disbursement credit positive: Moody’s | The Express Tribune
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[ad_1] KARACHI: Moody’s Investors Service, a leading international credit rating agency, has said that successful completion of the International Monetary Fund’s (IMF) review of Pakistan reflects prospective improvement in the country’s institutions and governance strength. In a statement on Friday, the rating agency pointed out that the IMF acknowledged greater credibility of Pakistan’s macroeconomic and…
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Rupee rises to 2.5-month high | The Express Tribune
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[ad_1] KARACHI: The rupee’s uptrend continued for the sixth successive day on Friday as the currency closed at a two-and-a-half-month high of Rs174.48 against the US dollar in the inter-bank market after exporters began selling the greenback. Exporters returned to selling counters as the market expected increased inflow of foreign currencies from multiple sources following…
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SBP incentivises exchange companies | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP), with the approval of the federal government, has introduced a new scheme for exchange companies under which they will receive an incentive of Re1 for each US dollar of home remittances surrendered in the inter-bank market. In this regard, they would be required to surrender 100% of…
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Chinese firms mull investment in Gwadar | The Express Tribune
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[ad_1] BEIJING: Chinese state-owned and private companies have expressed the desire to establish a $3.5 billion reprocessing park in Gwadar and a $350 million textile cluster near the city of Lahore. Talking to journalists, Special Assistant to Prime Minister on China-Pakistan Economic Corridor (CPEC) Khalid Mansoor, who was accompanying the premier on his four-day visit…
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Pakistan Oilfields’ profit soars 141% to Rs7.3b | The Express Tribune
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[ad_1] KARACHI: Pakistan Oilfields Limited’s profit skyrocketed 140.7% to Rs7.3 billion in the quarter ended December 31, 2021 due to a sharp rise in other income and an uptick in sales. According to a notice sent to the Pakistan Stock Exchange on Friday, the oil and gas exploration company had reported a profit of Rs3.03…
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Turning snow into silver | The Express Tribune
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[ad_1] BEIJING: At an ice hockey rink in the western suburbs of Beijing, a group of children under the age of 10, holding hockey sticks, enthusiastically chased a puck weighing less than 200 grams, while parents cheered through the glass outside. Li Wei, the father of one of the young players, told reporters that he…
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PM Imran finalises deals with major investment companies in China | The Express Tribune
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[ad_1] Prime Minister Imran Khan on Friday held meetings with a number of representatives of major Chinese companies, paving the way for billions of dollars worth of Chinese investment into the country. The prime minister arrived in Beijing on Thursday to attend the opening ceremony of the Winter Olympics and meet the Chinese leadership. As…
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Market watch: With profit-taking, stocks record thin gains | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a volatile session on Friday, as market players opted to stay on the sidelines mainly owing to weak macroeconomic cues and looming uncertainty. The benchmark KSE-100 index, after oscillating within a narrow range, managed to creep up before the close of trading. Despite opening the session in the…
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Chinese firms interested in expanding investments in Pakistan
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[ad_1] The Chinese corporate leaders briefing Prime Minister Imran Khan about the progress of their ongoing projects in Pakistan in a virtual meeting. -Radio Pakistan BEIJING: Prime Minister Imran Khan held a series of meetings with leaders of China’s leading state-owned and private companies in Beijing on Friday, who evinced keen interest in expanding investments…
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Sanofi sees strong earnings despite COVID vaccine delay
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[ad_1] — AFP/File PARIS: French pharmaceutical group Sanofi posted strong 2021 sales on Friday and expects another good performance in 2022, as the popularity of its asthma therapy offset setbacks in developing a COVID vaccine. While Sanofi has yet to produce a jab against COVID, its Dupixent drug, which also treats eczema, has been a…
