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CAD at 6-month high as outflows rise | The Express Tribune
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[ad_1] Country-wise major outflow was witnessed from China ($225 million) and sector-wise major outflow witnessed in the power sector ($243 million) in January 2024. Photo: afp KARACHI: Pakistan’s balance of the current account failed to stay in surplus for the second successive month, hitting a six-month high deficit of $269 million in the wake of…
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Remittances rise slightly in January to $2.4bn
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[ad_1] A currency exchange agent counts US Dollars at his company in Iraq’s southern city of Basra, on December 8, 2023. — AFP KARACHI: Pakistan received $2.4 billion in remittances from its overseas workers in January, up by 0.6% from the previous month, said the State Bank of Pakistan (SBP) in a statement on Monday. “In terms of…
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IT exports rise on fair policies | The Express Tribune
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[ad_1] LAHORE: Pakistan’s information technology exports rose 17% and reached $303 million in December 2023 against exports of $259 million in November, as the country’s IT experts and freelancers continued to make inroads into international markets. This is in line with increased focus of the government and growing calls from analysts to capitalise on the…
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New US car sales are anticipated to rise in 2024
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[ad_1] The showroom and service centre for the US automotive and energy company Tesla in Amsterdam. — AFP/File Sales of new cars are predicted to rise marginally in the United States in 2024, as the automobile sector continues to normalise following the coronavirus pandemic and other supply chain issues since 2020. Leading car data companies…
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Workers’ remittances rise in October after crackdown
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[ad_1] A currency exchange dealer counts $100 bills in this undated picture. — AFP/File KARACHI: Following the crackdown against the illegal exchange market and closing of the gap between interbank and open markets, the workers’ remittances were recorded at $2.5 billion in October making it an increase of 9.6% year-on-year basis, according to the State…
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Ban on profit outflow lifted as reserves rise | The Express Tribune
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[ad_1] KARACHI: Pakistan has lifted an unannounced ban on foreign companies freely sending their earned profits to their headquarters abroad, following increased supplies of US dollars in the domestic economy, sending a strong message to global investors to resume initiating new investment projects in the country. The State Bank of Pakistan (SBP)’s latest data shows…
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Global stocks fall, US bond yield rise as Israel gears up for major ground assault
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[ad_1] Artillery shells are lined up next to an armoured vehicle as Israeli soldiers take positions near the border with Gaza in southern Israel on October 9. — AFP A regional dispute in occupied Palestine and concerns that US interest rates would stay high for longer than initially anticipated caused stock markets to decline on…
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Israel-Hamas war: Oil prices rise, global stocks fall as humanitarian crisis worsens in Gaza
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[ad_1] A Palestinian youth looks for salvageable items amid the rubble of the Kuhail building, which was destroyed in an early morning Israeli airstrike on Gaza City on Tuesday. — AFP Oil prices rose and global stocks largely fell on Wednesday, in response to concerns that the Israel-Hamas dispute could escalate into regional warfare following…
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Pace of rupee rise slows down | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its uptrend in inter-bank market for the 28th successive working day on Monday but it gained less than Rs1 against the US dollar for third day in a row, indicating the currency is gradually entering the stabilisation phase. Earlier, on most of the days in the past four weeks, the…
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US home sales decline as prices rise, interest rates increase
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[ad_1] A ‘For Sale’ sign is seen in front of a home on August 21, 2015 in Miami, Florida. — AFP Sales of US homes have been steadily declining since August as supply remained constrained and mortgage rates remained high, the industry figures released on Thursday revealed. Sales of existing homes have cooled in the…
