Tribune
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Sindh to establish its own power regulatory authority | The Express Tribune
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[ad_1] KARACHI: The Sindh cabinet approved the establishment of the Sindh Electric Power Regulatory Authority (SEPRA) — a body aimed at improving energy equity and eliminating energy poverty in the province. The decision was made during a meeting of the cabinet, which was chaired by Sindh Chief Minister Syed Murad Ali Shah at CM House on…
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IMF cuts Pakistan’s growth forecast, sees hike in inflation | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has reduced the economic growth forecast of Pakistan to 0.5% as well as steeply increased inflation projections far above 20% for two years — underscoring that the people’s hardships would not end soon and interest rates might remain at their highest levels. The IMF’s World Economic Outlook report…
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Oil slips after three weeks | The Express Tribune
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[ad_1] LONDON: Oil slipped on Monday, after rising for three straight weeks, as concern about further interest rate hikes that could curb demand balanced the prospect of a tighter market due to supply cuts from OPEC+ producers. The US dollar rose after US jobs data pointed to a tight labour market, firming up expectations of…
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Rupee falls by Rs2.44 against dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani currency dropped by 0.85%, or Rs2.44, to a five-day low at Rs287.09 against the US dollar in inter-bank market on Monday amid conflicting reports about the revival of International Monetary Fund’s (IMF) loan programme. With the fresh depreciation, the rupee stood just Rs0.76 shy of the record low of Rs287.85/$, touched on…
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Gaming industry revenue to cross $200m in 2023 | The Express Tribune
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[ad_1] KARACHI: Pakistan’s gaming industry is on the rise, but it has yet to reach its full potential, according to industry experts. Pakistan Software Houses Association ([email protected]) Chairman, Muhammad Zohaib Khan has predicted that the gaming industry’s revenue will cross $200 million in 2023, with an annual growth rate of 9.77% from 2023-2027. However, he…
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Finance secretary to attend WB, IMF spring meetings | The Express Tribune
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[ad_1] ISLAMABAD: A high-level Pakistani delegation led by Finance Secretary Hamed Yaqoob Sheikh has arrived in Washington to attend the World Bank and the International Monetary Fund’s spring meetings as concerns mount that a combination of sticky high interest rates and lacklustre global growth could push a number of economies that are facing soaring refinancing…
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CPEC Authority: a game changer for Pakistan’s future? | The Express Tribune
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[ad_1] ISLAMABAD: China is currently focused on revitalising the Belt and Road Initiative (BRI), which was expected following the relaxation of Covid-19 policies. Since the recent two sessions, efforts to do so have been accelerated. It is anticipated that China will offer new opportunities for investment, with Chinese companies likely to invest in countries along…
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Increase local production of edible oil: experts | The Express Tribune
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[ad_1] KARACHI: Pakistan’s agriculture sector is in urgent need of attention from the government to boost the local production of edible oil. The country’s annual import of edible oil stands at a staggering $4 billion, causing a significant drain on the country’s economy. Experts suggest that the coastal areas of Sindh have high potential for…
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Baidu sues over fake Ernie bot apps | The Express Tribune
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[ad_1] SHANGHAI: Chinese search engine giant Baidu, has filed lawsuits against “relevant” app developers and Apple Inc over fake copies of its Ernie bot app available on Apple’s app store. The company’s artificial intelligence powered Ernie bot, launched last month, has been touted as China’s closest answer to the US-developed chatbot ChatGPT. Baidu said it…
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Slow progress stokes worries | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s oil refineries have expressed disappointment over slow progress on finalising a new refinery policy, being designed to help execute plant upgrade projects to produce clean fuels and meet growing consumer demand. “Refineries have been waiting for the past three years for approval of the new policy,” remarked a senior official of a…
