Tribune
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Stocks flat on mix of positive, negative news | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange opened the week on a negative note, witnessing a bloodbath over the lack of satisfaction by the International Monetary Fund (IMF) with the federal budget for 2022-23. Owing to this, the market plunged by 1,135 points day-on-day. However, positivity was witnessed at the bourse later and the KSE-100 index…
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China’s gasoline exports plunge 45.5% | The Express Tribune
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[ad_1] BEIJING: China’s May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed on Saturday. China exported 840,000 tonnes of gasoline last month, data from the General Administration of Customs showed, down from 1.55 million tonnes…
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Experts term projections ‘fluid’ | The Express Tribune
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[ad_1] ISLAMABAD: The figures given in the federal budget for fiscal year 2022-23 are extremely fluid and will not remain the same in the final document that will be approved by parliament at the end of current month, said experts at a seminar. Current political instability, which is coinciding with economic instability, has created a…
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Traders fear goods transportation crisis | The Express Tribune
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[ad_1] KARACHI: Panic has swept through the food and commodity markets as traders fear that a third significant increase in prices of petroleum products within 20 days will plunge the country into a massive goods transportation crisis. Acting Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Shabbir Hassan Mansha said “the increase in…
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Oil slumps 5% on recession concerns | The Express Tribune
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[ad_1] Oil prices tumbled about 5% to a three-week low on Friday, led by a slump in US gasoline futures, as investors were worried that interest rate hikes from major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the US dollar this week rose to its highest since…
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Rupee touches fresh record low at 208.75 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its free fall for the sixth consecutive working day, as it lost 0.53% to a new record low at Rs208.75 against the US dollar in the inter-bank market on Friday amid the worsening country’s capacity to make international payments for imports and repay foreign debt. The currency crossed Rs209 for…
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FBR directed to resolve importers’ issues | The Express Tribune
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[ad_1] ISLAMABAD: Taking stock of the problems being faced by traders who had booked containers prior to the ban on imports, the Senate Standing Committee on Finance on Friday directed the Federal Board of Revenue (FBR) to resolve their issues. A meeting of the Senate body was held with Senator Saleem Mandviwalla in the chair,…
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Foreign investment contracts 29% | The Express Tribune
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[ad_1] KARACHI: Evaluating the risks of investment losses due to the persisting political and economic uncertainty in Pakistan, foreign investors were hesitant as the flow of investment into different sectors of the economy remained sluggish. Foreign direct investment (FDI) in Pakistan shrank 29% to $141.2 million in May 2022 compared to $199.2 million in the…
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Five more incubation centres planned | The Express Tribune
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[ad_1] KARACHI: Ignite National Technology Fund CEO Asim Shahryar Husain has announced that Ignite, administered by the Ministry of IT and Telecom, will launch five more incubation centres by next year and will also launch new acceleration and innovation funds to boost the startup and innovation ecosystem in Pakistan. “Pakistani startups have raised $268 million…
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Pakistan, China ink MoU to boost agri-cooperation | The Express Tribune
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[ad_1] KUNMING: China’s Yunnan Academy of Agricultural Sciences (YAAS) and Pakistan Agricultural Research Council (PARC) signed a memorandum of understanding (MoU) to promote agricultural cooperation between China and Pakistan at an online signing ceremony held in Kunming and Beijing on Friday. Addressing the ceremony, Dr Wang Jihua, President of YAAS, noted that years of collaboration…
