Business News
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Businessmen for cooperation with AJK | The Express Tribune
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[ad_1] LAHORE: Azad Jammu and Kashmir (AJK) Minister for Small Industries Dr Kausar Taqdees Gilani visited the Lahore Chamber of Commerce and Industry (LCCI) and held a meeting with LCCI President Kashif Anwar. During his address, the LCCI president emphasised the importance of strengthening the relationship between the Lahore Chamber and the Azad Kashmir Chamber…
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PSX slumps over pre-budget, policy rate worries | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) endured a turbulent week where it plunged over 2,000 points as investors were worried about the potential increase in capital gains tax (CGT) and due to uncertainty over the State Bank of Pakistan’s (SBP) monetary policy announcement. Investors were wary ahead of the budget presentation next week where taxes…
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Political chaos, exorbitant energy cost listed as key challenges | The Express Tribune
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[ad_1] KARACHI: Sindh’s former caretaker minister for industries and commerce Muhammad Younus Dagha has said that if two main challenges including political instability and high energy cost are brought under control, the country can grow by leaps and bounds. He said the caretaker government had made efforts to improve the performance of government departments despite…
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Pakistan breaks records with $3.24b remittances | The Express Tribune
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[ad_1] KARACHI: In a historic development, Pakistan hit an all-time high inflow of workers’ remittances sent home by non-residents at $3.24 billion in May 2024 on Friday. This surge suggests that the balance of the current account would remain in surplus for the fourth month in a row. According to State Bank of Pakistan’s (SBP)…
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NEC finally gets a shape before next week meeting | The Express Tribune
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[ad_1] ISLAMABAD: President Asif Ali Zardari on Friday constituted the National Economic Council aimed at enabling the coalition government to approve new fiscal year’s development budget and macroeconomic framework. The President of Pakistan is pleased to constitute the National Economic Council, according to a notification issued by the Cabinet Division on Friday. The federal government had…
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PM Office steps in on OMCs’ request | The Express Tribune
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[ad_1] ISLAMABAD: The Prime Minister’s Office has approached the Petroleum Division to draw its attention towards the unrecovered exchange rate loss of Rs26 billion being faced by the oil industry. It has also pointed to the reduced sales tax, which prevents the recovery of paid sales tax, resulting in Rs65 billion being held back, which…
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Rupee rallies on hopes of big IMF package | The Express Tribune
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[ad_1] KARACHI: Taking cue from Pakistan’s request to the International Monetary Fund (IMF) for a bigger bailout package of $8 billion, the rupee on Friday hit a three-week high at Rs278.20 against the US dollar in the inter-bank market. According to the State Bank of Pakistan’s (SBP) data, the Pakistani currency gained Rs0.19 compared to…
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PIA blamed for violation of loan conditions | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s economic managers have voiced concern over alleged violation of the terms of a loan acquired by Pakistan International Airlines (PIA) to address the financial challenges faced by Roosevelt Hotel, New York, which is owned by the airline. Sources told The Express Tribune that the matter was taken up during a recent meeting…
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KSE-100 loses over 600 points in intraday trade
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[ad_1] Investors are sitting in the hall of Pakistan Stock Exchange in Karachi. — AFP KARACHI: Bears dominated the Pakistan Stock Exchange (PSX) on Friday as it plummeted by over 600 points during the intraday trading. The benchmark KSE-100 index declined by 656.19 points or 0.89% to reach at 73,206.74 points as compared to the yesterday’s close of…
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Gold prices remain stable | The Express Tribune
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[ad_1] Gold rates have remained stable with no change observed, according to the All Sindh Sarafa Jewellers Association’s report on Friday. The price og gold remained steady at Rs 243,000 per tola. Similarly, there were no fluctuations in the prices of 24 karat gold for 10 grams, which stayed at Rs 208,333, and for 22 karat gold, which…
