Express
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Dollar smugglers devise novel ways | The Express Tribune
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[ad_1] ISLAMABAD: Despite official foreign currency reserves falling to a critically low level of $6.7 billion, the government has failed to stop the smuggling of the dollars to Afghanistan that was underway using orange crates and with the connivance of law enforcement agencies (LEAs), revealed the proceedings of a huddle held on Friday. It also…
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TSA deadline will be missed: IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan will miss its end-December deadline to close all bank accounts maintained by the public sector entities and defence ministry in commercial banks, and transfer the money to the central bank, reveal findings from the International Monetary Fund (IMF). The cumulative balance in these accounts amounts to about Rs2.9 trillion. There was also…
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G7 oil price cap not to blame for Turkey tanker queues, EU says | The Express Tribune
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[ad_1] BRUSSELS: The Group of Seven countries’ (G7) price cap on Russian oil is not responsible for a queue of tankers waiting in the Black Sea to pass through Istanbul’s Bosphorus Strait on the way to the Mediterranean, the European Commission said. The number of vessels queuing in the Black Sea increased on Friday to…
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Govt trying to make good use of idle properties in US | The Express Tribune
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[ad_1] ISLAMABAD: The Roosevelt Hotel in New York is not the only Pakistan government’s property lying idle in the US as there are more such properties in Washington, telling a sorry state of affairs because Islamabad has been unable to make a productive use of those buildings despite its best efforts. The Foreign Affairs Division…
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SBP governor assures Pakistan will pay debts ‘on time’ | The Express Tribune
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[ad_1] Governor State Bank of Pakistan (SBP) Jameel Ahmad has provided assurances that Pakistan will pay all its debts “on time” and that foreign exchange reserves are expected to increase during the second half of the financial year. In the latest episode of the SBP podcast series, governor SBP clarified that during the next seven…
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Vietnam sees trade rising to $1b next year | The Express Tribune
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[ad_1] ISLAMABAD: Vietnam Ambassador Nguyen Tien Phong on Thursday expressed hope that annual trade with Pakistan was likely to reach $1 billion by the end of 2023. He said that the current trade volume stood at $800 million, which could be easily increased to $1 billion by the end of next year by tapping the…
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Pakistan seeks emergency $3b Saudi cash injection | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Wednesday requested Saudi Arabia to urgently provide $3 billion in cash after its foreign exchange reserves fell to a critically low level, as the new army chief was also expected to play a role in bagging the bailout during his upcoming maiden visit to the Kingdom. Finance Minister Ishaq Dar made…
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‘Saudi Arabia committed to rescuing Pakistan’ | The Express Tribune
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[ad_1] ISLAMABAD: Saudi Arabia is committed to averting Pakistan’s current economic crisis – worsened recently by climate-change induced flash floods – to help the country achieve political stability and safeguard its national security, said Dr Ali Awadh Asseri, the Kingdom’s former ambassador to Pakistan on Wednesday. Speaking at the Islamabad Conclave the former ambassador said,…
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Stocks bullish on Dar’s remarks | The Express Tribune
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[ad_1] KARACHI: Bulls returned to Pakistan Stock Exchange on Wednesday following Finance Minister Ishaq Dar’s remarks that brushed off rumours about the ninth review of IMF loan programme. The stock market kicked off trading on a positive note as Dar announced that his team was in talks with the International Monetary Fund (IMF). Investors cheered…
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Cryptoverse: this is a bitcoin ‘bloodbath’ | The Express Tribune
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[ad_1] BENGALURU: “I’m nearly bankrupt,” says Jad Fawaz, a crypto trader in Abu Dhabi. “I’m laughing because there’s no point in exerting more depression and more frustration about it.” The 45-year-old, who quit his real-estate job a year ago to focus on trading, has seen his holdings evaporate in recent months. He hasn’t slept in…
