Tribune
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PSX struggles amid gloomy outlook | The Express Tribune
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[ad_1] KARACHI: Bearish sentiment prevailed at the Pakistan Stock Exchange during the outgoing week, as bears continued to push bulls to the sidelines in the absence of market-moving positive cues. The rupee depreciation against the US dollar continued during the week amid rapidly depleting foreign exchange reserves, which kept the jittery investors at bay. To…
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Iraq to establish new oil company in Kurdistan | The Express Tribune
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[ad_1] BAGHDAD: Iraq’s federal government aims to establish a new oil company in the Kurdistan region, the oil ministry said on Saturday. The aim of the new company will be to enter into new service contracts with oil firms currently operating there under the Kurdistan Regional Government (KRG), according to a statement. Oil Minister Ihsan…
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India trims tax on fuel, essential commodities | The Express Tribune
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[ad_1] NEW DELHI: India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation. Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 Indian rupees ($0.1028) per litre, and 6 Indian rupees per…
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China contributes to upgrading socio-economic life in Gwadar | The Express Tribune
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[ad_1] GWADAR: China has granted more than 5 billion RMB (renminbi – official currency of China) in Gwadar for several socio-economic projects during the last seven years to upgrade the living conditions of the local people under Corporate Social Responsibility (CSR) initiatives. The grant is dedicated to New Gwadar International Airport (NGIA), East Bay Expressway,…
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Global mobile body seeks tax cut | The Express Tribune
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[ad_1] ISLAMABAD: The global mobile industry association, called GSMA, has proposed that the withholding tax on essential telecom services in Pakistan should be brought down from 15% to 8% in the federal budget for 2022-23 in order to improve the affordability of mobile services, especially for the lower income segment. In a letter written to…
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New governor, same ole policy? | The Express Tribune
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[ad_1] The State Bank of Pakistan (SBP) is due to announce its monetary policy statement (MPS) on May 23, 2022. Various surveys conducted indicate that most market participants expect a 1% or more increase in the policy rate from the current level of 12.25%. These expectations are premised on a number of factors including inflationary…
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SPI increases 1.42% | The Express Tribune
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[ad_1] The Sensitive Price Indicator (SPI) for the week ended May 19, 2022 registered an increase of 1.42% for the combined income group, going up from 172.63 points during the week ended May 12, 2022 to 175.08 points in the week under review. The SPI for the combined income group rose 16.54% compared to the…
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Rupee falls for 11th day in a row | The Express Tribune
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[ad_1] KARACHI: Pakistan’s currency maintained its downturn for the 11th consecutive working day, as it inched down by Rs0.14 on a day-to-day basis to a new record low at Rs200.14 against the US dollar in the inter-bank market on Friday. It closed at Rs200 against the greenback on Thursday, according to the central bank. The…
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FDI inflows stand at $170.6 million in April | The Express Tribune
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[ad_1] KARACHI: Long-term foreign investors injected a four-month high capital at net $170.6 million during April 2022, in major sectors of Pakistan’s economy including power, banks, electronics and communication despite global as well as domestic political and economic uncertainties. The foreign direct investment (FDI) recorded a turn-around in the month under review as compared to…
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NEPRA fines power firm Rs65m over fatal accidents | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs65 million on the Islamabad Electric Supply Company (Iesco) on the charges of negligence, resulting in fatal incidents during the period July 2019 to June 2021. On the receipt of reports of 39 deaths in different electrocution incidents during the aforementioned…
