Tribune
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Vehicle export begins under new auto policy | The Express Tribune
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[ad_1] KARACHI: An automaker based in Pakistan has begun vehicle export under the new Auto Industry Development and Export Policy (AIDEP 2021-26). It has become the first auto manufacturer in Pakistan that has started exporting under the new policy. As part of the policy, all original equipment manufacturers (OEMs) are required to initiate vehicle exports…
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Gwadar needs urgent power supply | The Express Tribune
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[ad_1] GWADAR: Gwadar is seeking urgent arrangements for power supply to ensure robust economic growth, business ecosystem and logistic activities at Gwadar Port as well as in the Gwadar region. The demand for early supply of electricity was made at the Pakistan Energy Development Conference 2022 held at the China Business Centre at Gwadar Port.…
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Market watch: Stocks rebound over ADB’s $2.5b loan hint | The Express Tribune
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[ad_1] KARACHI: The stock market staged a rebound on Thursday over indications that the ADB would provide $2.5 billion in loan coupled with optimism about the resumption of International Monetary Fund (IMF) loan programme, which rejuvenated investor interest. The benchmark KSE-100 index made a significant recovery as investors were encouraged by the upbeat developments despite…
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Market watch: KSE-100 rebounds over ADB $2.5b loan hints | The Express Tribune
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[ad_1] KARACHI: The stock market staged a rebound on Thursday over indications that the ADB would provide $2.5 billion in loan coupled with optimism about the resumption of International Monetary Fund (IMF) loan programme, which rejuvenated investor interest. The benchmark KSE-100 index made a significant recovery as investors were encouraged by the upbeat developments despite…
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Foreign exchange: 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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Pakistan exports its first SUV class vehicle | The Express Tribune
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[ad_1] KARACHI: Pakistan has exported its first vehicle – made by Master Changan Motors – under the new Auto Industry Development and Export Policy (AIDEP 2021-26), according to a press release issued by the company on Thursday. The press release stated that under the new auto policy, all OEMs would require to initiate vehicle exports to help…
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MedznMore raises over $11.5m in investment | The Express Tribune
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[ad_1] MedznMore, a tech-based health care company, has raised more than $11.5m in investment in a pre-series A round, according to a press release issued by the company. It is the largest investment in health tech to date. The company was founded by Babar Lakhani, Asad Khan, and Saad Khawar in 2020. It is a…
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Toyota warns profit to skid 20% | The Express Tribune
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[ad_1] TOKYO: Toyota Motor warned “unprecedented” hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world’s top automaker by sales can no longer shrug off the supply chain crunch that has roiled the global industry. Also reporting a 33% drop in fourth-quarter operating profit, the Japanese giant saw…
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Oil up as Russia gas flow falls | The Express Tribune
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[ad_1] Oil prices jumped almost 5% on Wednesday after plunging nearly 10% in the previous two sessions, buoyed by supply concerns as flows of Russian gas to Europe fell and the European Union worked on gaining support for a Russian oil embargo. Russian gas flows to Europe via Ukraine fell by a quarter after Kyiv…
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Tech firm cancels book-building process | The Express Tribune
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[ad_1] KARACHI: A software company, operating in Pakistan and Germany, has announced to cancel its book-building process for the listing at Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PSX). The announcement from Coeus Solutions on Wednesday came following under-subscription of its shares by the accredited investors. They placed bids only for 1.02…
