Express
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Banks achieve 86% growth in profits | The Express Tribune
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[ad_1] KARACHI: Pakistan’s banks listed on the stock market have reported an outstanding growth of 86% in their net profit in the year ended December 2023, boosting total earnings to a record high of Rs572 billion amid a higher interest rate season in the country. The banks have managed to achieve a record high profit…
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$3.2b received in financial assistance in July-Jan period | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan received $2.408 billion from multilateral creditors and another 794.6 million from bilateral creditors during the first seven months of the current fiscal year, according to the statistics released by the economic affairs ministry on Tuesday. During the July-January period of fiscal 2023-24, the assistance from the multilateral partners, included $1.058 billion from…
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PC leads efforts to revamp framework | The Express Tribune
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[ad_1] ISLAMABAD: Chairman of the Planning Commission, Muhammad Jehanzaib Khan, stated on Monday that efforts were underway to enhance the National Planning Framework in collaboration with provinces and stakeholders, intending to incorporate it into the National Economic Council’s agenda. He made these remarks at the opening ceremony of a workshop on the National Planning Framework…
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AJK to get telecom licence fee | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has made amendments to the law for transferring the licence fee, renewal fee and spectrum auction proceeds received from telecom operators working in Azad Jammu and Kashmir (AJK) to the regional government. So far, the fee and proceeds got from the licensees have been parked in Pakistan Telecommunication Authority (PTA)…
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Aurangzeb assumes role as finance minister amid challenges | The Express Tribune
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[ad_1] ISLAMABAD: In a significant development for Pakistan’s economic landscape, Muhammad Aurangzeb officially took charge as the Finance Minister on Monday after being sworn in at the President’s House earlier in the day. Aurangzeb has been serving as president and chief executive officer (CEO) of Habib Bank Limited (HBL). Aurangzeb is a seasoned banker with…
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Bitcoin hits record above $71,000 as demand frenzy intensifies | The Express Tribune
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[ad_1] LONDON: Bitcoin hit a record high on Monday above $71,000, as the surge in the biggest cryptocurrency showed no signs of slowing down. Britain’s financial watchdog on Monday became the latest regulator to pave the way for digital asset trading products after saying on Monday it will now permit recognised investment exchanges to launch…
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Cheaper Chinese EVs dominate world markets | The Express Tribune
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[ad_1] KARACHI: Chinese electric vehicles (EV) are gaining immense popularity throughout the world because of their cheaper rates and amusing features, flooding and astonishing the US and European markets despite tough competition with local industries in the West. China has knuckled down to do far more work on research and development with a view to…
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Govt mulls help to expand tax base | The Express Tribune
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[ad_1] ISLAMABAD: As the number of active taxpayers further shrinks to 3.4 million, down 41% over the previous year, the government is considering seeking financial assistance from the Bill and Melinda Gates Foundation to improve digital services in the Federal Board of Revenue (FBR). Compared to a week ago, the names of about 500,000 people…
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Abu Dhabi-owned firm eyes growth | The Express Tribune
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[ad_1] SAO PAULO: Abu Dhabi-controlled fresh food producer Unifrutti is expanding its footprint in Latin America with two acquisitions in Peru, building on a previous purchase in the region as the firm eyes continued growth in the fruit market. The company has reached a deal to buy both AvoAmerica Peru and Bomarea from US-based Solum…
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‘China’s opening conducive to foreign businesses’ | The Express Tribune
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[ad_1] BEIJING: “China aims to facilitate easier access to work, study and travel for foreign nationals in the country. Its commitment to a wider opening and promoting mutual benefits creates a conducive environment for foreign businesses to thrive,” remarked Dr Abid Qaiyum Suleri, Executive Director of the Sustainable Development Policy Institute (SDPI). “The well-developed infrastructure…
