Tribune
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Stock market tumbles in lacklustre week | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a lacklustre trading week as jittery investors struggled to find positive cues amid continuously deteriorating macroeconomic indicators. Continuously falling rupee that hit record lows against the US dollar and depleting foreign exchange reserves haunted the trading environment in the outgoing week, thus keeping market participants at bay. Consequently,…
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Experts suggest making solar panels in SEZs | The Express Tribune
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[ad_1] BEIJING: Pakistan is manufacturing cellphones in collaboration with Chinese and other companies. Similarly, the country can also take the initiative to manufacture solar panels locally. Talking to CEN, Amjad Hussein, renewable energy expert and consultant in Pakistan, said that China is the leader in solar technology right now. Pakistan should work with China to…
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Measures to cut imports on cards | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Miftah Ismail on Saturday hinted at implementing a steep reduction in imports through a combination of regulatory duties and import controls, as the government seeks to curtail the current account deficit by around 40% to $10 billion in the next fiscal year. The government will compress the imports through various measures…
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N. Korea’s Kim says COVID ‘great turmoil’, 21 new deaths reported | The Express Tribune
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[ad_1] SEOUL: North Korean leader Kim Jong Un said on Saturday that the spread of COVID-19 had thrust his country into “great turmoil” and called for an all-out battle to overcome the outbreak, while 21 new daily deaths were reported among people with fever. North Korea made an unprecedented admission of its first COVID outbreak…
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Industries assured of gas supply | The Express Tribune
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[ad_1] KARACHI: Federal Minister for Commerce Syed Naveed Qamar has assured the textile industry that every effort will be made to supply gas to the industrial units in order to boost the country’s economy. “Gas supply has been affected due to increase in consumer demand,” he said while chairing a meeting with Karachi’s textile industry,…
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Oil jumps 4% on fears of tightening supplies | The Express Tribune
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[ad_1] NEW YORK: Oil prices rose about 4% on Friday as US gasoline prices jumped to an all-time high and stock markets soared amid fears that supplies would tighten if the European Union bans Russian oil after Moscow sanctioned European units of state-owned Gazprom. Brent futures rose $3.97, or 3.7%, to $111.42 a barrel by…
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MedznMore raises over $11.5m investment | The Express Tribune
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[ad_1] KARACHI: MedznMore has raised Pakistan’s largest healthtech investment of over $11.5 million in Pre-Series A round. The company on Friday announced that it has completed its Pre-Series A round, marking the largest investment in healthtech to date. MedznMore is on a mission to reshape healthcare in Pakistan by increasing the accessibility of authentic medicines…
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Rupee fall, high prices add to fuel subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The continued rise in global crude oil prices and depreciation of the rupee against the US dollar have increased the cost of petroleum product subsidy. With the rupee’s fall, a 3.17% increase in prices of petroleum products has been projected from May 16. The average exchange rate had been Rs185.95 to the dollar…
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Remittances hit record high | The Express Tribune
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[ad_1] KARACHI: Beating the market expectations, workers’ remittances sent home by overseas Pakistanis have surprisingly surpassed the $3 billion mark in a month for the first time in history, apparently to support their family members to spend more during Ramazan and on Eid. “Remittances crossed the monthly mark of $3 billion for the first time,”…
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Global firm to tackle infrastructure challenges | The Express Tribune
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[ad_1] ISLAMABAD: CDM Smith USA will contribute to reducing environmental and infrastructure challenges in Pakistan, said CDM Smith Senior Vice President Jeff Montera. During his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Friday, he said that CDM Smith has already made useful contributions to mitigating the miseries of people during the…
