Express
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Banks must guard against faster bank runs: BoE’s Hauser | The Express Tribune
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[ad_1] LONDON: Financial regulators will need to make sure that banks retain adequate financial buffers as advances in technology increase the risk of bank runs, a senior Bank of England official said on Friday. Challenges facing central banks included “how to ensure that banks’ liquidity insurance remains appropriate as technological change increases the risk of…
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Global stocks set for best week in a year | The Express Tribune
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[ad_1] LONDON/SINGAPORE: Global stocks were on track for their biggest weekly rise in a year on Friday as investors cheered a pause in US interest rate hikes, while the dollar was on the back foot. Trading on Friday was relatively subdued, however, as investors awaited key US employment data later in the day. The MSCI…
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Saudi firm acquires majority stake in Shell Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: In a significant move, Royal Dutch oil company Shell has reached an agreement to sell its 77.42% majority stake in Shell Pakistan Limited (SPL) to Saudi firm Wafi Energy LLC. This decision comes as Shell reorganises its global business, and the sale aligns with its strategy to enhance its mobility network. The transaction…
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Power tariff hike of 54 paisa per unit sought | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday grilled the Central Power Purchasing Agency-Guarantee (CPPA-G) for expensive electricity generation while ignoring cheaper, local coal-based production, which put an additional burden on consumers. At a public hearing, the CPPA-G sought an increase of Rs0.5471 per kilowatt hour (kWh) in electricity price on account…
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With larger fall, rupee near 1-month low | The Express Tribune
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[ad_1] KARACHI: Pakistani currency on Wednesday hit nearly one-month low above Rs282.50 against the US dollar in inter-bank market, as it maintained the losing streak for the eighth consecutive day ahead of first IMF review under the $3 billion loan programme. According to State Bank of Pakistan’s (SBP) data, the rupee lost 0.42%, or Rs1.18,…
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‘Pakistan to focus on indigenous, renewable energy sources’ | The Express Tribune
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[ad_1] ISLAMABAD: In a meeting with the Ambassador of China to Pakistan, Jiang Zaidong, Caretaker Federal Minister Muhammad Ali conveyed Pakistan’s commitment to shaping its future energy landscape with a strong emphasis on indigenous and renewable sources. The minister highlighted the potential areas for collaboration between China and Pakistan, citing renewables, transmission networks, and DISCOs…
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FBR beats target, collects Rs2.75tr in Jul-Oct | The Express Tribune
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[ad_1] The Federal Board of Revenue (FBR) has beaten the revenue target for the fourth consecutive month with collection of Rs2.75 trillion in July-October and decided to go after one million non-filers of income tax returns after receiving a poor response from the people. While the FBR exceeded its July-October tax collection target by Rs68…
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After much ado, increase in gas rates approved | The Express Tribune
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[ad_1] ISLAMABAD: The federal cabinet on Monday approved up to 193% increase in gas prices to recover an additional Rs350 billion from consumers in this fiscal year while making some further adjustments in the recommended rates for industrial and CNG consumers. Headed by Prime Minister Anwaarul Haq Kakar, the cabinet approved up to 172% increase…
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Denmark’s help sought for boosting renewable energy | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has sought support of Denmark for boosting the share of renewable energy to 40% in the next two years under the National Electricity Plan 2023. In a meeting between Interim Minister of Energy Muhammad Ali and Danish Ambassador Jacob Linulf at the Power Division on Monday, the updates on the Danish Energy…
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SBP keeps key policy rate unchanged at 22pc | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, Pakistan’s central bank has left its benchmark policy rate unchanged at a record high of 22% for the third time in a row in the past four months, saying the rate remains appropriate to create a balance between inflation reading and economic activities. In its latest monetary policy…
