Tribune
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Tesla recalls 321,000 US vehicles | The Express Tribune
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[ad_1] WASHINGTON: Tesla is recalling more than 321,000 vehicles in the United States because tail lights may intermittently fail to illuminate, the company said in a filing made public on Saturday. The news follows the company’s recall on Friday of nearly 30,000 Model X cars in the US over an issue that may cause the…
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Mercedes Benz to pay $5.5 million | The Express Tribune
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[ad_1] WASHINGTON: German automaker Mercedes Benz and auto supplier Robert Bosch LLC have agreed to pay a total of about $6 million to resolve a lawsuit over diesel advertising claims, the US state of Arizona said on Friday. Under the proposed settlement, Mercedes Benz will pay $2.8 million in consumer restitution, and each qualifying Arizona…
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30,000 poultry farms face closure | The Express Tribune
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[ad_1] RAWALPINDI: Businessmen have expressed fear that 30,000 poultry farms will be closed, more than 300 feed mills will be affected and investment of about Rs1,200 billion will be stopped in the poultry sector because of delay in clearance of soybean. “With the unavailability of soybean meal, a main ingredient in poultry feed, there are…
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Investment in NPCs declines to $763 million | The Express Tribune
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[ad_1] KARACHI: In the wake of growing political uncertainty and worsening economic fundamentals in the country, overseas Pakistanis have aggressively started pulling out investments from the Naya Pakistan saving certificates through their Roshan Digital Accounts (RDAs). According to the central bank’s latest report on Pakistan’s External Debt and Liabilities (Outstanding), the ‘net’ investment in Naya…
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Rupee dips to six-week low | The Express Tribune
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[ad_1] KARACHI: Weighed down by weak economic fundamentals, Pakistani rupee dipped to a six-week low at Rs223.17 to a dollar in the inter-bank market on Friday as importers were unsure whether the flow of the greenback would improve in the near future. Apart from the currency’s fall, the yield on Pakistan’s global Sukuk, maturing next…
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‘Unrealistic’ flood cost baffles IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Thursday had to concede to the International Monetary Fund’s (IMF) demand to exhibit the flood reconstruction cost in this year’s budget after the global lender found the projected relief operation estimates of Rs251 billion or $1.1 billion “unrealistic”. The Rs251 billion estimates that the finance ministry had shared with the IMF…
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Smuggling causing colossal losses to exchequer | The Express Tribune
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[ad_1] LAHORE: The Federation of Pakistan Chamber of Commerce and Industry’s United Business Group (UBG) on Thursday urged the government to curb smuggling and illicit trade immediately to protect the organised industry and consumers from its impact. Talking to a delegation of industrialists and traders, led by Chaudhary Ghulam Mujtaba Managing Director for Vital Tea,…
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‘Pakistan’s GDP can fall 18 to 20% due to climate change risks’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s annual Gross Domestic Product (GDP) is at risk of fall by 18 to 20 per cent by 2050 due to the combined risks from intensification of climate change and environmental degradation in the country, if the climate change issues are left unaddressed. “The combined risks from the intensification of climate change and…
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Ethiopia set to launch direct flights | The Express Tribune
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[ad_1] KARACHI: Pakistan and Ethiopia have geared up to strengthen bilateral ties as they are working to launch direct flights, establish formal banking channels and boost trade to at least $300 million. Earlier this year, Ethiopia opened its full-fledged embassy in Islamabad, though the two countries had established diplomatic relations 64 years ago in 1958.…
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World Bank to provide $1.3b emergency relief | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank on Wednesday said that it was planning to provide Pakistan with $1.3 billion for emergency, agriculture and housing relief in the wake of devastating floods, according to a statement issued by the Ministry of National Food and Security. During a meeting with the Federal Minister for National Food Security and…
