Business News
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Downside risks for Pakistan remain exceptionally high: IMF | The Express Tribune
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[ad_1] Downside risks for the economy remain exceptionally high, the International Monetary Fund (IMF) said on Friday, in its staff report, ahead of government talks with the fund on a longer-term programme. An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, ahead of Islamabad beginning its annual…
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Solar panel prices further decline in Pakistan
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[ad_1] This image shows workers installing a solar panel in Jiuquan, Gansu province. — Reuters. KARACHI: Amid a declining trend in rates internationally and ample supply in the local market, the prices of solar panels have further declined in Pakistan, encouraging consumers to choose cost-effective power alternatives amid increasing demand for electricity in the summer…
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IMF support team in Pakistan to discuss next bailout package
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[ad_1] This file photo taken on January 26, 2022, shows the seal for the International Monetary Fund (IMF) in Washington, DC. — AFP ISLAMABAD: A mission of the International Monetary Fund (IMF) has landed in Pakistan to discuss a new programme ahead of the country’s annual budget for the next financial year. A support team…
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BRICS countries to stop trading in US dollar, plans to introduce new currency
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[ad_1] Doubts in US dollar begin to seep in as new currency comes to the rescue. — Watcher Guru/File The BRICS countries which include, Brazil, Russia, India, China, and South Africa are set to meet for its annual summit in October where the developing countries may announce setting up a new currency to counter the…
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Fly Jinnah launches Islamabad-Muscat flights today | The Express Tribune
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[ad_1] KARACHI: Fly Jinnah is launching flights for its new international route between Islamabad and Muscat in Oman on Friday (today). Before the departure of the maiden flight, a special cake-cutting ceremony will be held in the lounge of Islamabad Airport, which will be attended by the representatives of the Civil Aviation Authority (CAA), airport…
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Nintendo breaks up with Elon Musk’s X
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[ad_1] Elon Musk’s X is “too” expensive for Nintendo. — Nintendo/File Nintendo can’t take Elon Musk’s X, formerly known as Twitter, API fees anymore. Starting on June 10, direct integration from Switch’s image album to X will no longer function, Nintendo said on Wednesday, according to EnGadget. All three major console makers have pulled the…
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SBP forex reserves reach over $9bn fuelled by fresh IMF tranche
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[ad_1] An undated image of a currency dealer holding a stack of $100 notes. — AFP/File KARACHI: After a recent inflow of $1.1 billion from the International Monetary Fund (IMF), the State Bank of Pakistan’s (SBP) foreign exchange reserves have risen to over $9 billion. The SBP issued a statement on Thursday on the current…
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April remittances reach $2.8 billion, second highest in FY23-24 | The Express Tribune
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[ad_1] KARACHI: Pakistan received the second-highest workers’ remittances of the ongoing fiscal year 2023-24 at $2.8 billion in April 2024, contributing to the improvement of the country’s foreign exchange reserves and supporting stable rupee-dollar parity. The State Bank of Pakistan (SBP) reported that workers’ remittances increased by 3.5% to $23.8 billion cumulatively in the first…
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PSO proposes swapping debt for stake in public sector companies | The Express Tribune
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[ad_1] KARACHI: Pakistan State Oil (PSO), the country’s largest oil marketer, says it is in talks with the government on a plan to acquire stakes in public sector energy companies and offset mounting debt it is owed by firms such as Pakistan International Airline (PIA). Stopping the pile-up of unresolved debt across Pakistan’s power sector,…
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PSO ‘in talks’ with govt to acquire stakes in public sector energy companies
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[ad_1] A man drinks water from a cooler at a Pakistan State Oil petrol station in Peshawar, on October 2, 2017. —Reuters KARACHI: The Pakistan State Oil (PSO), the country’s largest oil marketer, says it is in talks with the government on a plan to acquire stakes in public sector energy companies and offset mounting…
