Express
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US investigates Meta for role in drug sales | The Express Tribune
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[ad_1] BENGALURU: US prosecutors in Virginia are probing whether Facebook-parent Meta’s social media platforms facilitated and profited from the illegal sale of drugs, the Wall Street Journal reported on Saturday, citing documents and people familiar with the matter. The prosecutors sent subpoenas last year and have been asking questions as part of a criminal grand…
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SBP denies reports of issuing polymer currency notes | The Express Tribune
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[ad_1] ISLAMABAD: The State Bank of Pakistan (SBP) denied reports, circulating on social media and news channels, that it was issuing a new series of polymer currency notes. In a statement on Saturday, the central bank refuted the reports as ‘unfounded and lacking merit’. According to the SBP, there are currently no plans or proposals to…
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Big industries’ output edges down | The Express Tribune
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[ad_1] ISLAMABAD: The production of goods by Pakistan’s big industries slowed down during the first seven months of the current fiscal year and their growth fell 0.52% year-on-year as the manufacturing sector took a hit from the record high interest rate and the increasing cost of doing business. Pakistan Bureau of Statistics (PBS) reported on…
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Rupee hits new 5-month high at 278.74/$ | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency edged up to a new over five-month high at Rs278.74 against the US dollar in the interbank market, maintaining an uptick for the third consecutive working day, fuelled by relatively better supply of the greenback in the domestic economy. According to the State Bank of Pakistan’s (SBP) data, the domestic…
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HSD price reduced by Rs1.77 per litre, petrol left unchanged | The Express Tribune
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[ad_1] In a move to provide some relief to people during Ramazan from the persistently high inflation, the federal government on Friday reduced the price of high-speed diesel (HSD) by Rs1.77 per litre while maintaining the tariffs of petrol, according to a statement issued by the Finance Division. According to the statement, the HSD would…
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PWSMA pushes for digital tax fix | The Express Tribune
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[ad_1] ISLAMABAD: Plastic bag manufacturers have blamed the Federal Board of Revenue (FBR) for billions of rupees in annual tax evasion by major commodity producers due to malfunctioning production tracking systems. Industry players have sought the intervention of the new Finance Minister, Muhammad Aurangzeb, who is also advocating end-to-end digitisation of the tax system to…
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Farmers ask Sindh to begin wheat buying | The Express Tribune
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[ad_1] KARACHI: Growers’ bodies have urged Sindh government to make wheat procurement centres operational forthwith, provide gunny bags, purchase 1.4 million tonnes from farmers and raise support price as all such steps will benefit and encourage farmers. They said peasants had been harvesting wheat for the past two weeks, but the government’s procurement centres were…
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IMF asks Pakistan to revisit NFC award | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Thursday called upon Pakistan to reopen discussions on the National Finance Commission (NFC) award, seeking to address the ongoing imbalance in the distribution of fiscal resources between federal and provincial governments. During the opening round of discussions for a $1.1 billion loan tranche, Nathan Porter, the IMF…
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Rise in used car imports raises alarm | The Express Tribune
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[ad_1] LAHORE: The import of used cars has seen a staggering surge of 684% in the first six months of the current fiscal year compared to the same period last year. Sources indicate that over 16,500 units of used cars were imported from July to December 2023, marking an exponential increase compared to the approximately…
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Oil steady as OPEC retains demand forecasts | The Express Tribune
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[ad_1] LONDON: Oil prices were little changed on Tuesday as OPEC stuck by its forecast for demand growth this year and next, amid persistent tensions in the Middle East and beyond. Brent futures for May delivery were up 24 cents at $82.45 a barrel by 1420 GMT. The April US West Texas Intermediate (WTI) crude…
