Express
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FDA finds multiple faults at India’s second-largest drugmaker | The Express Tribune
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[ad_1] Officials of the the US Food and Drug Administration (FDA) have detected numerous faults at a factory operated by Aurobindo Pharma Ltd., one of India’s largest pharmaceutical companies, Bloomberg reported. This comes as the FDA is scrutinising considerable shortcomings in India’s factories amidst a backlog of inspections due to the Covid-19 pandemic. According to…
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Pakistan, IMF reach staff-level pact on crucial $3b bailout | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default. The deal, subject to approval by the IMF board in July, came hours before the…
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IMF deal expected in next 24 hours: Dar | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar has said that a staff level agreement for a crucial bailout deal with the International Monetary Fund (IMF) was “very close” and expected in the next 24 hours. Islamabad is racing against time to unlock at least $1.1 billion under the lender’s ninth review of a $6.5-billion Extended Fund Facility…
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Petrol price may be slashed by Rs6.48 per litre | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s oil consumers are likely to get a relief of Rs6.48 per litre in the price of petrol for the first fortnight of July. However, the price of high-speed diesel (HSD) may surge by Rs13.84 per litre, which will widely impact its consumers as HSD is primarily used in transport and agriculture sectors.…
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Oil falls as rate hike fears offset inventory drop | The Express Tribune
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[ad_1] LONDON: Oil fell on Wednesday, giving up earlier gains, as worries over further interest rate hikes and slowing demand offset support from an industry report showing a larger-than-expected drop in US crude inventories. Benchmark Brent crude prices are down over 15% this year as rising interest rates hit investor appetite, while China’s economic recovery…
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Even debt restructuring may not be enough: experts | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy is on the brink as it grapples with mounting pressure and hyperinflation caused by an overwhelming debt burden. Urgent calls for debt restructuring are echoing through the country, with experts warning that the rupee is poised to face immense strain in the first quarter of the upcoming fiscal year if the…
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Age of crisis leaves big currencies out of sync | The Express Tribune
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[ad_1] LONDON: Big global currencies are rarely on different paths. Yet Japan’s yen and China’s yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear. With economic and monetary policy outlooks varying, currency moves are increasingly out of sync with each other. This is making the…
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ECC approves bonded storage policy for petroleum products: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar announced on Wednesday that the Economic Coordination Committee (ECC) has approved the “Bonded Bulk Storage Policy 2023” for petroleum products. The minister took to Twitter to make the announcement and said that the government has fulfilled another of its commitment “with the people of Pakistan that was made in…
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Second shipment of Russian oil arrives | The Express Tribune
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[ad_1] KARACHI: The second cargo ship of Russian crude oil anchored at Karachi Port on Tuesday. According to Express News, vessel – Clyde Nobel Birth – is carrying 56,000 tons of oil. According to port sources, the ship had been berthed at oil pier number 3 and the supply of crude oil from it will…
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LHC upholds legality of super tax, reduces rate to 4% | The Express Tribune
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[ad_1] LAHORE: In a significant ruling, the Lahore High Court on Tuesday upheld the legality of the super tax that was imposed by the federal government last year, Express News reported. The court’s decision comes in response to several petitions filed against the tax’s enforcement. According to Express News, over 350 petitioners approached the court…
