Express
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Edible oil industry advocates tax reform | The Express Tribune
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[ad_1] The government should contemplate imposing a 20-22% sales tax and a 5% income tax on commercial importers to discourage them, said KK Group of Industries CEO Khalid Islam Sheikh. Photo: file KARACHI: Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act,…
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Debt burden surges to record high of Rs81.2 trillion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities have peaked at Rs81.2 trillion – a figure that grew at a faster pace of over 27% during the past year, posing emergent management challenges to the newly elected government. The bulletin released by the State Bank of Pakistan (SBP) on Monday showed that the country’s total debt…
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Spectre of default haunts US banks | The Express Tribune
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[ad_1] KARACHI: The Covid-19 pandemic is almost gone, but it is still haunting the US real estate sector and its banking system. Large office buildings, vacated right after the outbreak of the deadly virus, are still empty as the work-from-home model has been increasingly adopted, causing hefty losses to owners of high rises and making…
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LPG cylinders: track and trace system | The Express Tribune
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[ad_1] ISLAMABAD: Liquefied petroleum gas (LPG) cylinder safety situation is not very good in Pakistan. Every year, there are many cylinder explosions, leading to deaths and injuries. Explosions occur usually during transport and users’ locations. There are two main reasons for cylinder explosions – low quality manufacturing using inappropriate material; and damage and wear and…
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A ‘boiling frog’ situation | The Express Tribune
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[ad_1] BRUSSELS: Pakistan’s Rs38.8 trillion domestic and Rs24.1 trillion external debt mountain is a “boiling frog” phenomenon for the economy as higher deficits and ballooning debt servicing costs are unsustainable. A boiling frog situation is one in which people fail to act on a potential problem that grows over time, causing it to become more…
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Govt considers allowing urea price hike | The Express Tribune
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[ad_1] The Finance Division reiterated its stance that no additional subsidy would be provided on the supply of urea once the proposed mechanism of basket price is enforced. photo: file ISLAMABAD: The government is considering permitting fertiliser manufacturers to increase urea prices by up to Rs358 per bag, shifting the entire burden of over Rs30…
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S&P 500 earnings growth seen at 9% | The Express Tribune
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[ad_1] NEW YORK: With results in from about two-thirds of companies, fourth-quarter 2023 S&P 500, tab earnings growth is now seen at 9.0%, almost double a Jan 1 forecast for 4.7% growth, according to LSEG data on Friday. About 81% of reports are beating analysts’ expectations, compared with an average of 76% in the previous…
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Stocks slump over poll result delay | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) was rattled on Friday by the unusual delay in announcement of election results and growing political uncertainty, which led to a plunge of 1,200 points in the KSE-100 index and deterred investors from building their portfolios. Uncertainty gripped the market as initial, unofficial results of general elections trickled in,…
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Oil rises 1%, heads for weekly gain | The Express Tribune
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[ad_1] Oil prices rose on Friday and were on track for gains of almost 7% week-on-week, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures rose 79 cents, or 0.97%, on the day to $82.42 a barrel by 1446 GMT, while US West Texas Intermediate crude…
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IMF urges BOJ to consider ending yield curve control | The Express Tribune
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[ad_1] PHOTO: FILE TOKYO: The Bank of Japan (BOJ) should consider ending its yield curve control and massive asset purchases now, then gradually raise short-term interest rates, the International Monetary Fund (IMF) said on Friday, as markets ramp up bets on a near-term turn in the central bank’s ultra-easy policy. As Japan’s economy continues to…
