Business News
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Gold becomes popular investment among younger generations | The Express Tribune
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[ad_1] What asset class do millennials and Gen Z investors both want to own? Here is an answer you may not have guessed: Gold. Among wealthy investors under the age of 43, 45% own gold as a physical asset, and another 45% are interested in holding it, according to a recent study by Bank of…
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PSX plummets by over 1,200 points after hitting record high | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) experienced a significant decline and closed at 80,117 after experiencing a significant decline of 1,721 points. This drop represents a 2.15% decline from yesterday’s all-time high of 81,839 points. Yesterday, PSX surged to new heights, gaining 684 points to close at an all-time high of 81,839 points. This remarkable 0.84%…
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Brazil to freeze $2.70 billion in budget to meet fiscal target | The Express Tribune
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[ad_1] BRASILIA: Brazil’s Finance Minister, Fernando Haddad, announced on Thursday a plan to freeze 15 billion reais ($2.70 billion) from the 2024 budget. This move comes as the government grapples with meeting its fiscal targets for the year, following market pressures to reduce spending after a recent decline in local asset values. Of the total…
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Railways announces increase in fare for all trains
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[ad_1] Policemen walk along trains stationed on a deserted platform at Karachi Cantonment railway station on March 26, 2020. — AFP Pakistan Railways has announced a fare increase for all trains, with effect from tomorrow as notification issued on Thursday stated that fares would be increased by 1% for all mail, express, intercity, and passenger…
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Equities outpace luxury watches as Rolex, Patek prices drop | The Express Tribune
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[ad_1] Prices for luxury watches from brands such as Rolex, Patek Philippe, and Audemars Piguet have declined by an overall 23 per cent over the past two years, extending a prolonged downturn in the secondary market, according to Bloomberg. The Bloomberg Subdial Watch Index, which tracks the 50 most-traded watches by transaction value, decreased by less…
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Gold prices in Pakistan soar to new high | The Express Tribune
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[ad_1] Gold prices have hit a record peak in the local market, sparking interest among investors and traders. Globally, the price of gold per ounce increased by $60, reaching $2,470. This significant rise was mirrored in the local market, where the price per tola soared by Rs4,600 to Rs254,000, setting a new high. In Karachi,…
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Historic leap as PSX surges to all-time high of 81,518 points | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) surged to new heights, gaining 362 points to reach an all-time high of 81,518 points. This remarkable 0.44% increase from the previous close of 81,156 points showcases a bullish momentum in the market. A week earlier, the PSX shattered all previous records to reach the historic 81,000-point mark, an…
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Energy czar, ex-minister trade barbs over IPPs contracts
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[ad_1] Federal Minister for Energy, Awais Leghari (left) and former federal interior and commerce minister Gohar Ejaz. —Radio Pakistan/AFP/File Federal Minister for Energy Awais Leghari has asserted that the government was not in a position to act unilaterally against independent power producers (IPPs) regarding power purchase agreements (PPAs), which are draining billions of rupees of…
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ADB forecasts high inflation for Pakistan in current fiscal year | The Express Tribune
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[ad_1] The Asian Development Bank (ADB) has predicted that inflation in Pakistan will remain high in the current fiscal year. The bank’s latest Asian Development Outlook report raised its economic growth forecast for developing Asia and the Pacific from 4.9% to 5%, but Pakistan faced a more challenging outlook. The ADB forecast that Pakistan’s inflation rate, which had…
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IMF forecasts 3.5% growth for Pakistan in FY25, slightly below govt’s target | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has forecasted that Pakistan’s economy will grow by 3.5% in the fiscal year 2024-25 (FY25). This projection falls slightly below the Pakistani government’s target of 3.6%, which was announced in the latest budget, and comes amidst a backdrop of sluggish global economic activity. According to Pakistan’s economic survey,…
