Tribune
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0.2m tons urea to be imported to bridge demand supply gap | The Express Tribune
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[ad_1] ISLAMABAD: The fertiliser review committee, which met here, insisted that a significant part of urea demand would be met domestically, however, a summary for import of 200,000 tons of urea would be prepared to bridge the gap before demand peaked in June during the Kharif sowing season. Federal Minister for Industries and Production Makhdoom…
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Industry opposes withdrawal of amnesty scheme | The Express Tribune
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[ad_1] ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir termed the government’s intention to withdraw the tax amnesty scheme for the industrial sector under IMF pressure disappointing. Expressing concern, Munir said “the move will hurt industrial growth in the country and shake the confidence of investors willing to invest in Pakistan…
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CPEC DG yet to start working | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan, which was eyeing $10 billion Chinese investment and 420,000 new jobs in just four Special Economic Zones (SEZs), could not make the Directorate General of China-Pakistan Economic Corridor (CPEC) operational for swift handling of cargoes as 400 positions could not be filled in the body. Despite creating a legal provision to set…
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Russia, India in talks to restart coal supplies | The Express Tribune
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[ad_1] NEW DELHI: Russian and Indian officials met last week in an effort to resolve an impasse over the shipping of coking coal to Indian steelmakers, which has dried up since March over payment methods, a trade source and an Indian government source said. Russia usually supplies about 30% of European Union (EU), Japanese and…
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Indonesia’s palm oil export ban perturbs global buyers | The Express Tribune
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[ad_1] MUMBAI: Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia’s surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia’s invasion of Ukraine. The move by the world’s biggest palm oil producer to ban exports from Thursday…
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Oil dives as Shanghai lockdowns stoke demand fears | The Express Tribune
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[ad_1] NEW YORK: Oil slumped about 6% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in US interest rates. In Shanghai, authorities have erected fences outside residential buildings. In Beijing, many people have begun stockpiling food,…
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Workers may seek new jobs: survey | The Express Tribune
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[ad_1] WASHINGTON: Worker demands for more flexibility and security, bolstered by the pandemic and a tight labour market, are only growing more intense as the world economy reopens and some firms begin trying to pull employees back to offices, payroll provider ADP reported in a survey of nearly 33,000 people worldwide. The survey found that…
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Another bank faces data theft | The Express Tribune
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[ad_1] KARACHI: Overseas thieves have managed to rob a leading bank in Pakistan through internet banking, as they used compromised data of a number of debit cards to conduct fraudulent financial transactions in foreign currencies. The event made the financial institution suspend the services of international financial transactions through debit cards of almost all the…
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Market watch: Stocks rally due to clarity about IMF package | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange rallied on Monday as investors were observed cheering the news of successful completion of talks with the International Monetary Fund (IMF) about the loan programme. Pakistan and the IMF agreed, in principle, to extend the stalled bailout programme by up to one year and increase the loan size to…
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New government but old economic crisis | The Express Tribune
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[ad_1] KARACHI: The economy is trapped in a vicious cycle as the balance of payments crisis emerges after every few years. Even though the government has changed, the economic challenges remain the same. The volatility in the currency exchange rate, the rising current account deficit and the challenges on the fiscal front at a time…
