Express
-
Auto industry forced to slash prices | The Express Tribune
.
[ad_1] KARACHI: Auto experts state that a combination of factors, including weakened purchasing power, heavy taxation, rampant inflation, and currency devaluation, has compelled auto companies to slash prices. This move, while reducing profit margins, benefits customers and lends support to the struggling industry. Expressing frustration with poor economic policies, market analysts told The Express Tribune…
-
Unilever to spin off ice cream business | The Express Tribune
.
[ad_1] LONDON/ BENGALURU: Unilever said on Tuesday it would spin off its ice cream unit, home to popular brands such as Magnum and Ben & Jerry’s, and cut 7,500 jobs in a new cost-savings programme. Investors cheered the plan, sending shares in Unilever, one of the world’s biggest consumer goods companies, up nearly 6% at…
-
Pakistan asked to reap benefits of Vietnam FTAs | The Express Tribune
.
[ad_1] LAHORE: Vietnam has asked Pakistan to avail itself of the opportunities arising from free trade agreements (FTAs) Hanoi has signed with the European Union, the United States, Britain, Australia, New Zealand, Japan, South Korea and other nations while at the same time Vietnam can benefit from Islamabad’s GSP Plus status. “Vietnam and Pakistan can…
-
SPARC suggests more tax on cigarette | The Express Tribune
.
[ad_1] ISLAMABAD: The Society for the Protection of the Rights of the Child (SPARC) warmly welcomed the appointment of the new finance minister and urged him to consider tobacco taxation as a potential avenue for boosting the economy. Aligning with public health initiatives, the SPARC emphasised the importance of increasing taxes on cigarettes to reduce…
-
Experts push for corporate farming | The Express Tribune
.
[ad_1] KARACHI: Industrialists and progressive growers have described corporate farming as a positive initiative aimed at revamping and promoting the agriculture sector of the country. They advocate for establishing market prices for seeds, urea, pesticides, and agricultural commodities, alongside providing subsidies to farmers. Speaking to The Express Tribune, they highlighted the adverse impact of rising…
-
State-owned housing finance giant cuts funding | The Express Tribune
.
[ad_1] KARACHI: The House Building Finance Corporation (HBFC) has reportedly stopped providing subsidised housing and construction loans to the general public. According to the financial performance report of the state-owned housing finance giant till December 31, 2023, new financing has been slashed for the purchase, construction, and renovation of houses. Despite being highly paid, the…
-
SBP keeps policy rate unchanged for fifth consecutive time | The Express Tribune
.
[ad_1] KARACHI: The State Bank of Pakistan (SBP) left its key policy rate unchanged on Monday at a record high of 22% for the fifth consecutive time in the past nine months, taking a cautious approach against a likely uptick in inflation readings amid the ongoing talks with the International Monetary Fund (IMF). In its…
-
Charting through uncertainty | The Express Tribune
.
[ad_1] PUBLISHED March 17, 2024 ISLAMABAD: Prime Minister Shehbaz Sharif has begun his second term in office on a note of defiance. He successfully resisted the pressure and did not appoint family relative and party’s old economic guard Ishaq Dar as the new finance minister. Shehbaz Sharif has drawn the curtain on Ishaq Dar’s over…
-
SBP faces dilemma over interest rate | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s central bank is scheduled to meet on Monday to determine the benchmark interest rate for the next six weeks. It will be a highly tricky meeting with almost half of the financial experts and key investors betting on the bank cutting the rate, while the remaining half believe the financial regulator will…
-
PSX under pressure over IMF talk concerns | The Express Tribune
.
[ad_1] KARACHI: Turbulence and uncertainty marred the outgoing week at Pakistan Stock Exchange (PSX), as the market underwent a bearish spell by closing four out of five sessions in the red. Uncertainty about securing a new, longer-term loan package in negotiations with the International Monetary Fund (IMF) kept the KSE-100 index under constant pressure. The…
