Tribune
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Commemorative banknotes proposal rejected | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has rejected a proposal to get millions of commemorative polymer banknotes printed outside of the country in the wake of current economic situation and shrinking foreign currency reserves. The State Bank of Pakistan (SBP) is eager to issue the commemorative polymer banknotes to mark the 75th anniversary of the…
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Business leaders slam petroleum price hike | The Express Tribune
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[ad_1] ISLAMABAD: Businessmen have denounced the government for making a massive hike of Rs60 per litre in prices of petroleum products within a week, calling it unprecedented and a very harsh decision that will unleash a new wave of inflation and cause a big increase in the cost of doing business. Islamabad Chamber of Commerce…
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Kazakhstan renames its oil | The Express Tribune
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[ad_1] Kazakhstan is changing the name of the oil it exports via Russian sea ports to Kazakhstan Export Blend Crude Oil (KEBCO) to dissociate it from oil originating in Russia in order to avoid sanction risks and issues with financing. “Due to recent significant geopolitical changes … and to avoid negative effect of the changes…
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IT park planned near Karachi airport | The Express Tribune
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[ad_1] KARACHI: Federal Minister for Information Technology and Telecommunication Syed Aminul Haq has announced the setting up of an IT park in Karachi and a piece of land costing Rs31 billion has been acquired from the Civil Aviation Authority near Karachi airport for the project. “Plots will be available at much lower rates in the…
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Essential goods’ prices jump 20% | The Express Tribune
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[ad_1] ISLAMABAD: The average inflation for 51 essential goods, mostly used by low and middle-income groups, jumped above 20% during the latest week over a year ago amid serious contradictions in the official data used to calculate the price growth. The year-on-year Sensitive Price Indicator (SPI) increased to 20.04% during the week ended June 2,…
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India’s cyber security rules spark fears | The Express Tribune
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[ad_1] NEW DELHI: Indian cyber security rules due to come into force later this month will create an “environment of fear rather than trust”, a body representing top tech companies has warned the government, calling for a one-year delay before the rules take effect. The Internet and Mobile Association of India (IAMAI), which represents firms…
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Oil rises despite OPEC+ output hike plan | The Express Tribune
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[ad_1] NEW YORK: Oil rose on Friday, supported by expectations that OPEC’s decision to increase production targets by slightly more than planned won’t much affect tight global supply and by rising demand as China eases Covid restrictions. The Organisation of the Petroleum Exporting Countries and allies, known as OPEC+, on Thursday agreed to boost output…
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Boeing chief says no plan for equity raise | The Express Tribune
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[ad_1] SEATTLE: Boeing Co Chief Executive Dave Calhoun said on Friday the US planemaker has no current plans to tap equity markets, and signalled a wait of at least two years before launching a new aircraft programme. “There is no plan for an equity raise,” Calhoun told a conference organised by brokerage Bernstein. “I’m confident…
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SBP injects Rs1tr into open market | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has supplied over Rs1 trillion to the conventional and Shariah-compliant commercial banks for an unusual longer period of 63 days for the second time in one week to push them to bring down the interest rate on financing for the government. The overall injections came in at…
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Ford to invest $3.7 billion | The Express Tribune
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[ad_1] WASHINGTON: Ford Motor Co on Thursday said it will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles. Ford, whose shares were up 2.4% in afternoon trading, said $2.3 billion of the total investment will be spent on EVs, part of the $50 billion…
