Express
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BreakingrecordhighsWith 55%growthPSXamongbestperformingmarkets | The Express Tribune
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[ad_1] Pakistan Stock Exchange (PSX), after bottoming out at a three-year low in 2023, ended the year as the best performing bourse around the globe in the backdrop of a $3 billion International Monetary Fund (IMF) loan programme, disappearance of chances of debt default and successful completion of first IMF review. The benchmark KSE-100 index…
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Swiss watchdog seeks bonus clawback powers | The Express Tribune
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[ad_1] ZURICH: Switzerland’s financial regulator wants to discuss the ability to claw back bonuses from bankers as part of stronger powers following the fall of Credit Suisse and sale to UBS. “The question is on the table and must be discussed now,” FINMA Chairwoman Marlene Amstad told newspaper Schweiz am Wochenende, when asked about the…
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Miseries of energy consumers continue to mount | The Express Tribune
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[ad_1] ISLAMABAD: The year 2023 brought unprecedented pain to consumers as energy prices went sky high with no imminent relief in sight. The government jacked up prices of electricity, oil and gas to historic highs, fuelling a wave of inflation that sent prices of goods, particularly food items, soaring. To add to the woes, the…
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SBP report keeps GDP growth projection at 2-3% | The Express Tribune
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[ad_1] KARACHI: The economic landscape of Pakistan has faced unprecedented challenges throughout fiscal year 2022-23, as outlined in the ‘Governor’s Annual Report 2022-23’ presented by the State Bank of Pakistan’s (SBP) Governor, Jameel Ahmad, on Friday. The comprehensive report not only delves into the challenges faced by the country but also lays out strategies to…
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A decade of unprecedented growth in fintech landscape | The Express Tribune
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[ad_1] KARACHI: The landscape of Pakistan’s fintech industry is undergoing a transformation, with local entrepreneurs urged to build their own payment rails rather than relying on international giants like PayPal and Stripe. CEO of Dukan and Chairman of Rozee, Monis Rahman, advocates for independence, stating, “We have the talent and ability today to build our…
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‘Inflation stubborn at 29.2% in December 2023’ | The Express Tribune
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[ad_1] KARACHI: A domestic research house has projected Pakistan’s inflation reading to stubbornly remain at an elevated level of 29.2% in the outgoing month of December 2023, significantly higher than the Ministry of Finance’s forecast of 27.5-28.5% for the month. In a commentary titled ‘NCPI (national consumer price index) to remain high at 29.2% year-on-year…
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‘Extortion plaguing Karachi industries’ | The Express Tribune
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[ad_1] KARACHI: Businesspeople have expressed grave concerns and fretted about rising extortion slips and the targeted killing of traders, demanding that the government and law enforcement agencies take action against criminals spreading terror in north Karachi, Kharadar, Mithadar, Korangi, and other areas. Speaking to The Express Tribune, they highlighted that those running Small and Medium-sized…
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Despite progress, challenges persist in agriculture sector | The Express Tribune
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[ad_1] LAHORE: Pakistan’s agriculture sector had been in the limelight throughout calendar year 2023 but it did not make any significant improvement despite some supportive measures and relief packages announced by the government. Battling with the aftermath of massive flooding in the monsoon of 2022, the agriculture sector, called the backbone of rural economy, somehow…
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Alarm over incorrect tax notices | The Express Tribune
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[ad_1] KARACHI: In a letter addressed to Federal Board of Revenue (FBR) Chairman Amjad Zubair Tiwana, Pakistan Tax Bar Association (PTBA) President Anwar Kashif Mumtaz expressed concerns regarding the automated system’s continued issuance of income tax notices to deceased individuals and businesses that have ceased operations. Despite these companies informing the taxation body about winding…
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Ethiopia defaults on debt payment | The Express Tribune
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[ad_1] LONDON: Ethiopia became Africa’s third default on Tuesday after it failed to make a $33 million “coupon” payment on its only international government bond. Africa’s second most populous country announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the Covid-19 pandemic…
