Business News
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Gold prices hold steady at Rs241,500 per tola | The Express Tribune
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[ad_1] The gold prices remained stable with global rates holding at $2,324 per ounce and local prices in Karachi unchanged at Rs241,500 per tola(11.66 grams), as per the international bullion market on Tuesday. Similarly, the price for ten grams of gold stayed firm at Rs207,047 locally. Previously, the per tola price of 24 karat gold…
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CPI inflation picks up in June in line with govt, market consensus
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[ad_1] Women buy groceries at a wholesale market in Lahore’s Akbari Market. — Online/File In line with market and government expectations, the country’s headline inflation edged higher to 12.6% year-on-year (YoY) in June, compared to 11.8% in May, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. According to the PBS…
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Modest CPI, IMF talks propel PSX higher | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) concluded the first day of the new fiscal year on a promising note with gains of nearly 380 points, influenced by economic developments and sector-specific news. In the morning, trading remained lacklustre, when the KSE-100 index reached the intra-day low of 78,427.79 points. However, as the day progressed, the…
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OGDCL to boost local oil and gas production | The Express Tribune
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[ad_1] Pakistan’s largest oil and gas exploration firm – Oil and Gas Development Company Limited (OGDCL) – has announced a significant increase in local oil and gas production, told a spokesperson of the state-owned oil and gas company. The company has enhanced production from Nashpa Well No. 4, located in the Karak District in the…
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Boeing resumes new plane deliveries to China after regulatory review | The Express Tribune
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[ad_1] Boeing has restarted wide-body jet deliveries to China that were halted in recent weeks due to a Chinese regulatory review which also stalled new narrow-body deliveries by the U.S. planemaker, according to flight tracking data and two sources. All Boeing deliveries to China are now set to resume, a source told Reuters. New Boeing deliveries to China…
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Govt hikes petrol price by Rs7.45 per litre
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[ad_1] Employees at a fuel station wait for customers in Islamabad on February 16, 2022. — AFP The petrol price in Pakistan has been hiked by Rs7.45 per litre from Rs258.16 to Rs265.61 for the next fortnight in line with the fluctuation in the global oil rates, according to an official announcement on Sunday. The…
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‘Very optimistic’ Aurangzeb eyes IMF deal after tax-heavy budget approved
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[ad_1] Finance Minister Muhammad Aurangzeb addressing the press conference in Islamabad, on June 30, 2024. — Screengrab/GeoNews Finance Minister Muhammad Aurangzeb Sunday expressed optimism about Pakistan’s chances of securing a new IMF bailout, following President Asif Ali Zardari’s approval of the tax-intensive budget for the upcoming fiscal year starting July 1. The finance minister, during…
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President Zardari approves tax-heavy Finance Bill 2024
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[ad_1] President Asif Ali Zardari addresses a press conference in Karachi, on May 11, 2022. — Twitter/MediaCellPPP ISLAMABAD: President Asif Ali Zardari on Sunday approved Finance Bill 2024 for the upcoming fiscal year, coming into effect from July 1. The head of state approved the finance bill under Article 75 on the advice of Prime Minister…
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Cross-subsidy to hit exports | The Express Tribune
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[ad_1] ISLAMABAD: Textile millers have warned that cross-subsidies for the fertiliser sector in “ring-fenced” re-gasified liquefied natural gas (RLNG) prices will have a destructive impact on Pakistan’s exports, employment and economy. In a statement, the All Pakistan Textile Mills Association (Aptma) pointed out that the Ministry of Energy (Petroleum Division) and the Oil and Gas…
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Railways struggles on track | The Express Tribune
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[ad_1] LAHORE: Pakistan Railways (PR), once the backbone of the nation’s transportation network, is continuously grappling with a variety of challenges. From financial woes to infrastructural decay, the railway system, which was once symbolised as the country’s industrial and transportation strength, is now struggling to stay on track. Although it seems that the cash-strapped entity…
