Business News
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Short-term inflation gauge slows by another 1% | The Express Tribune
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[ad_1] KARACHI: The short-term inflation decelerated by another one percentage point week-on-week on the back of falling food and energy prices, maintaining its downward trend for the third consecutive week. According to the Pakistan Bureau of Statistics (PBS), the inflation rate hit a two-year low at 24.37% in the week ended on May 2, 2024…
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PSX rebounds from three-day losses on privatisation hopes
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[ad_1] A broker looks at an index board showing the latest share prices at the Pakistan Stock Exchange in Karachi. — AFP/File Stocks rallied on Friday reacting to government’s privatisation push to sell loss-making public entities, central bank’s policy rate status quo, and International Monetary Fund’s (IMF) latest tranche, endng the rollover day on a…
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ADB, donors agree $5b ADF replenishment; grants also available for Pakistan | The Express Tribune
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[ad_1] TBILISI: Donors and the Asian Development Bank (ADB) have agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8, with Pakistan emerging as a recipient of the grants. The commitment was made during ADB’s 57th annual meeting held in Tbilisi, Georgia, said a…
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Saudi Arabia’s Neom ‘The Line’ to continue as planned, no change in size
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[ad_1] Saudi Arabia finally secures funding for Neom’s ‘The Line’. — Parametric Architecture/File Saudi Arabia Neom officials have finally responded to claims suggesting that “The Line” has been scaled down, Unilad reported. ‘The Line’ city is part of Crown Prince Mohammad bin Salman’s 2030 vision aimed at diversifying Saudi Arabia’s economy and reduce its dependence on…
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A look at Jeff Bezos luxurious private jets
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[ad_1] Bezos beats Tesla CEO to become second richest man on earth. — AFP/File Amazon founder Jeff Bezos is the world’s second-richest man. His net worth hovers around $200 billion, depending on the stock price, Simple Flying reported. As the executive chairman of the biggest e-commerce company, Bezos has to constantly travel for meetings and…
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Sindh approves auctioning ‘inheritable, transferable Premium Number Plates’
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[ad_1] Representational image of customised number plate installed on a vehicle. — Freepik After CNIC-based vehicle registration and camera-readable number plates, Sindh government is eyeing generating up to Rs3 billion annual revenue by auctioning inheritable and transferable “Premium Number Plates” for vehicles. The provincial cabinet meeting chaired by Chief Minister Syed Murad Ali Shah on…
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Exploration firm targets major fields | The Express Tribune
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[ad_1] ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), the largest hydrocarbon explorer in Pakistan, has targeted 20 major fields, mainly in the north and south, to enhance production and contribute to overcoming the energy crisis in the country. Owing to the rising demand for gas, Pakistan is relying more on the imported liquefied natural…
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PTA vows to protect consumers as it mulls FBR’s SIM-blocking directive
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[ad_1] A representational image showing a man holding multiple cellphones. — AFP/File The Pakistan Telecommunication Authority (PTA) Thursday reaffirmed its resolve to protect consumers’ interests in light of Federal Bureau of Revenue’s (FBR) decision to block 500,000 SIMs of non-filers. The PTA, in a statement, said that it was deliberating on the tax collection body’s decision and…
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Pakistan’s CPI inflation hits 17.3% in April — lowest since May 2022
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[ad_1] Women check rice prices at a main wholesale market in Karachi. — AFP/File Pakistan’s Consumer Price Index (CPI) based inflation rate came in at 23-month low of 17.3% year-on-year in April, latest numbers released by Pakistan Bureau of Statistics (PBS) showed. “This is the lowest reading in the last 23 months (after May 2022),”…
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Amazon to fight order against CEO Andy Jassy
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[ad_1] Andy Jassy went against federal law. — AFP/File Amazon has said that it will appeal the decision against its chief executive Andy Jassy after a judge found him in violation of federal labour law. “The decision reflects poorly on the state of free speech rights today, and we remain optimistic that we will be…
