Tribune
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Oil rises on supply concerns | The Express Tribune
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[ad_1] WASHINGTON: Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cents, or 0.4%, to $107.97 a barrel by 1644 GMT. WTI crude rose $1.14, or 1.1 %, to $106.85.…
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Move to boost gems, jewellery export | The Express Tribune
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[ad_1] ISLAMABAD: A three-day gems, jewellery and fashion exhibition, to be organised by the Rawalpindi Chamber of Commerce and Industry (RCCI), will be held from May 20 to 22 in Islamabad. The aim of the exhibition is to encourage local traders and industrialists to take up the non-conventional sector like gemstone business. Talking to journalists,…
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Over 220 stalls set up at fair | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister Syed Murad Ali Shah will inaugurate the “17th My Karachi – Oasis of Harmony” exhibition on Friday (today) at the Karachi Expo Centre, where more than 220 stalls have been established. Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Idrees revealed in a statement that in addition to several…
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Rupee posts fresh slump | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its downturn on the fourth consecutive day, as it dropped by a notable 0.91% (or Rs1.75) to a new all-time low at Rs191.77 against the US dollar in the interbank market on Thursday. The rupee closed at Rs190.02 on the previous day (Wednesday), according to the central bank’s data. Cumulatively,…
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Car sales drop 18% in April | The Express Tribune
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[ad_1] KARACHI: Pakistan has witnessed a second major drop of 18% in car sales to 22,370 units in April 2022, as the much awaited impact of restrictions imposed on car financing in September and increase in rate of taxes on imports in January to limit the sales came into play. The government discouraged customers from…
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SBP reserves dip $190m to $10.3b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 1.8% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 6, the foreign currency reserves held by the SBP were recorded at $10,308.7 million, down $190 million compared with $10,499 million on April…
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Rs118b sought to bear cost of oil price freeze | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division is seeking allocation of Rs118 billion to bear the cost of freezing petroleum prices, which have surged in the global market due to the Russia-Ukraine war. The government has projected subsidy claims of Rs336 billion from oil companies for March-June 2022 as petrol and diesel prices have been left unchanged…
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9.5% inflation forecast ‘unrealistic’ | The Express Tribune
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[ad_1] ISLAMABAD: The government has expressed its reservations about the initial projection of single-digit inflation in the next fiscal year, as it slowly starts taking stock of the situation amid soaring consumer prices in the country. The economic advisory wing of the finance ministry has come up with initial projection of 9.5% inflation in next…
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Grain-forage rice to improve land utilisation | The Express Tribune
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[ad_1] BEIJING: Since Pakistan started importing Chinese high-yield rice seeds, the growers that used to produce 40 to 50 mounds now produce 100 mounds, said Karachi Chamber of Commerce and Industry (KCCI) Vice President Shamsul Islam Khan. “Rice production in Pakistan has improved a lot, and we are exporting it,” he said. In the first…
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Establishment of solar parks proposed | The Express Tribune
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[ad_1] ISLAMABAD: There is a need to exploit the renewable energy resources in order to meet the growing needs of the country. In clean energy, solar is one of the most economical, pollution-free and environment-friendly sources of energy that can help mitigate power crisis in Pakistan. These were the remarks made by Pakistan Hi-Tech Hybrid…
