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Oil imports remain high in March | The Express Tribune
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[ad_1] KARACHI: Pakistan’s import of petroleum products spiked 68% on year-on-year basis to $1.86 billion in March, taking a toll on the country’s foreign exchange reserves as price of the commodities remained significantly high at world markets. The imports stood at $1.11 billion in the same month of the previous year, according to the data…
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Remittances hit all-time high | The Express Tribune
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[ad_1] KARACHI: The inflow of workers’ remittances soared beyond market expectations and hit an all-time high at $2.8 billion in March, extending much-needed support to foreign exchange reserves and the rupee value against the US dollar. “These are the highest-ever monthly workers’ remittances,” Pakistan’s central bank announced on Thursday. Cumulatively, the remittances rose to $23…
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Remittances hit all-time high in March | The Express Tribune
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[ad_1] KARACHI: The workers’ remittances received by Pakistan hit an all-time high of $2.8 billion in March, extending support to foreign exchange reserves and rupee against the US dollar. “This is the highest ever monthly level for workers’ remittances,” Pakistan’s central bank reported on Thursday. Cumulatively, the remittances have risen to $23 billion in the…
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‘High interest rate threatens SMEs’ | The Express Tribune
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[ad_1] KARACHI: The business community has termed high interest rates threat to the survival of small and medium enterprises and cited that it caused significant increase in the cost of doing business for industries. In a joint statement, Pakistan Yarn Merchants Association (PYMA) Chairman Saqib Naseem and Vice Chairman for Sindh Muhammad Junaid Teli urged…
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US inflation at 16.5-year high | The Express Tribune
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[ad_1] WASHINGTON: US monthly consumer prices increased by the most in 16.5 years in March as Russia’s war against Ukraine boosted the cost of gasoline to record highs, cementing the case for a 50-basis-point interest rate hike from the Federal Reserve next month. The surge in prices reported by the Labour Department on Tuesday culminated…
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‘High interest rate will destroy economy’ | The Express Tribune
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[ad_1] KARACHI/ISLAMABAD: Business chambers are in a state of panic and shock as they are speculating on how to cope with the fallout of a surprise 250 basis points rise in the benchmark interest rate by the State Bank of Pakistan (SBP). In a statement on Saturday, Federation of Pakistan Chambers of Commerce and Industry…
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Food prices hit record high in March | The Express Tribune
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[ad_1] PARIS: World food prices jumped nearly 13% in March to a new record high as the war in Ukraine caused turmoil in markets for staple grains and edible oils, the UN food agency said on Friday. The Food and Agriculture Organisation’s (FAO) food price index, which tracks the most globally traded food commodities, averaged…
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World food prices hit record high over Ukraine war: FAO
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[ad_1] A Syrian woman prepares food at the Kabsh camp for the displaced people in the countryside near Syria´s northern city of Raqa during the Muslim holy month of Ramadan on April 7, 2022. — AFP/File PARIS: World food prices hit an all-time high in March as Russia’s invasion of Ukraine sent “shocks” through markets…
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Annual inflation at 21-year high | The Express Tribune
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[ad_1] MEXICO CITY: Mexican consumer prices rose in March to levels not seen since early 2001, with economists saying the data suggests more interest rate hikes are likely, as the central bank underscored the balance of risks for inflation deteriorated again. Consumer price inflation rose 7.45% in the year through March, way more than the…
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Iraq oil exports jump to 50 year high value | The Express Tribune
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[ad_1] BAGHDAD: Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia’s invasion of Ukraine, the oil ministry said. The second largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues of $11.07 billion,…
