Express
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Market watch: Stocks fall in absence of positive cues | The Express Tribune
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[ad_1] KARACHI: Bears held sway at the Pakistan Stock Exchange on Friday, as the benchmark KSE-100 index stayed in the negative territory throughout the session and dropped by 409 points on the first trading day after long Eid holidays. Investors opted to stay on the sidelines as the trading volume and value dipped as compared…
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NTDC fined Rs50m over 2021 blackout | The Express Tribune
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[ad_1] The National Electric Power Regulatory Authority (NEPRA) imposed a fine on Friday to the tune of Rs50 million on the National Transmission and Despatch Company (NTDC) over a countrywide electricity blackout in January 2021. A spokesperson for NEPRA said the NTDC failed to ensure the supply of electricity in a timely manner as it took the…
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Firms confront new climate challenge | The Express Tribune
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[ad_1] WASHINGTON: Tech and financial companies leading efforts to cut climate changing emissions are finding a new challenge from remote work: the CO2 spewing out of home offices. A few companies have begun counting what happens when employees boot up computers at home, turn up gas furnaces and ignore the world’s most energy-efficient corporate campuses.…
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US passes antitrust bill pressuring OPEC | The Express Tribune
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[ad_1] WASHINGTON: A US Senate committee passed a bill on Thursday that could expose the Organisation of the Petroleum Exporting Countries (OPEC) and partners to lawsuits for collusion on boosting crude oil prices. The No Oil Producing or Exporting Cartels (NOPEC) bill sponsored by senators, including Republican Chuck Grassley and Democrat Amy Klobuchar, passed 17-4…
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Europe braces for impact of Russian oil sanctions | The Express Tribune
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[ad_1] LONDON: The European Union (EU) has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian barrels in Europe? What does the EU currently import? The EU imported 2.2 million barrels per day (bpd) of crude oil and 1.2…
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Asian equities see large capital outflows | The Express Tribune
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[ad_1] WASHINGTON: Asian equities saw massive foreign capital outflows in April on expectations of a hawkish policy by the US Federal Reserve and concerns over the impact of China’s lockdowns on regional growth. Overseas investors offloaded Asian equities worth $14.22 billion in their fourth straight month of net selling, Refinitiv data for stock exchanges in Taiwan,…
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Oil steadies near $110 as dollar offsets worries | The Express Tribune
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[ad_1] NEW YORK: Oil prices steadied on Thursday, under pressure from a stronger dollar and a drop in global stock markets while supported by supply worries after the European Union (EU) laid out plans for new sanctions against Russia including an embargo on crude. Brent futures rose 42 cents, or 0.4%, to $110.56 a barrel…
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FPCCI proposes high tax rates, amnesty for rich | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s apex business body has proposed drastic measures to Prime Minister Shehbaz Sharif to contain budget and current account deficits including the rationing of electricity, an increase in individual tax rates and an amnesty for the rich to lure them to put their dollars in the central bank’s coffers. The Federation of Pakistan…
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Economy to face further pressure | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy and capital markets are expected to face mounting pressure when the country returns to work from Eid holidays on Friday in the wake of an aggressive hike in the benchmark interest rate by the US Fed and a rebound in international oil prices during the long break. Besides, the government has…
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‘Govt incurs Rs102 billion loss every month due to petrol prices’ | The Express Tribune
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[ad_1] KARACHI: Finance Minister Miftah Ismail claimed on Thursday that the federal government incurs a loss of Rs102 billion monthly due to the current petroleum prices, stating that the terms of Imran Khan’s International Monetary Fund (IMF) agreement stipulated a price of Rs245 per litre of petrol. In conversation with the media in Karachi, the…
