Tribune
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US-Pakistan Green Alliance framework | The Express Tribune
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[ad_1] ISLAMABAD: As the world grapples with the urgent need to address climate change, the United States and Pakistan are leading the charge with a ground-breaking collaboration: the US-Pakistan Green Alliance. A dynamic partnership aimed at boosting bilateral cooperation on sustainable development, clean energy, and climate action, this is poised to not only enhance climate…
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IMF’s $15.6b loan to Ukraine will be first to a country at war | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) approved a $15.6 billion loan to Ukraine earlier this week, the first time the global lender extended assistance to a country at war, as Pakistan still struggles to fulfil challenging conditions to secure financing from the Fund. “The Ukrainian authorities and IMF staff have reached a staff-level agreement on…
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Court stays proceedings against TRG board | The Express Tribune
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[ad_1] ISLAMABAD: The Sindh High Court (SHC) has stayed proceedings in a district and sessions court in Karachi against the board of directors of The Resource Group International Limited (TRG) in a defamation suit filed by former chief executive officer (CEO) Zia Chishti, the company said in a notice to the stock exchange on Friday.…
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OGRA accused of flouting price mechanism | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) and oil marketing companies (OMCs) are locked in a tug of war over the recovery of exchange rate losses on imports, which have put the latter on the verge of collapse. Last month, OMCs had conveyed to the government that they had incurred losses of Rs32…
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Pakistan, China scientists to combat citrus diseases | The Express Tribune
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[ad_1] BEIJING: Chinese and Pakistani scientists are collaborating to develop biological control measures to enhance the quality and quantity of citrus fruit in Pakistan. A research centre was launched by the two countries in 2018 to jointly explore green and sustainable solutions to the growing prevalence of citrus diseases across the South Asian nation. Speaking…
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China rolls over $2b in SAFE deposits | The Express Tribune
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[ad_1] ISLAMABAD: China has granted Pakistan a rollover of $2 billion in State Administration of Foreign Exchange (SAFE) deposits for a period of one year — helping the country in meeting one of the requirements set by the International Monetary Fund (IMF) for it to meet its external financing needs and move towards a staff-level…
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Yearly inflation hits another peak at 46.65% | The Express Tribune
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[ad_1] ISLAMABAD: The yearly short-term inflation rose by 46.65% – highest ever in the country’s history – measured on the basis of the Sensitive Price Index (SPI) during the week that ended on March 22, the Pakistan Bureau of Statistics (PBS) on Friday reported. The highest-ever increase was recorded on account of the rising food…
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Pakistan’s cotton yield 50% lower than region | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is facing a sharp decline in cotton production as its per-acre yield has contracted to just half of the cotton productivity in regional countries. Owing to thin profit margins for cotton planting, farmers have switched over to other crops like rice, maize and sugarcane. Economic policymakers have expressed serious concern over the…
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Further rate hike unlikely to control inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy has slowed down significantly partly due to a persistent hike in the key policy rate to a record high at 20%. The rate hike has lately become “ineffective” and a further rise will only aggravate the economic woes. The policy rate is a tool available with the central bank to control…
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UBS buys back bonds | The Express Tribune
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[ad_1] BENGALURU: UBS Group said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it sold just days ago in a bid to boost confidence among bondholders rattled by its $3 billion rescue of rival Credit Suisse. The bonds were sold on March 9 and their repurchase by UBS highlights…
