Tribune
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Foreign loans swell to $15b in Jul-Mar | The Express Tribune
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[ad_1] ISLAMABAD: The former government of Pakistan Tehreek-e-Insaf (PTI) took $15 billion gross foreign loans during its last nine months in power, bringing the total gross foreign borrowings to over $57 billion during its rule. The Ministry of Economic Affairs on Thursday released the foreign debt bulletin for July-March period of the current fiscal year.…
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Oil rises on worry about supply disruption from Russia, Libya | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports while the market continues to deal with reduced supplies from Libya. Brent crude futures rose $1.36, or 1.3%, to $108.16 a barrel at 11:11 AM ET (1511 GMT). US West Texas…
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Global tourism to recover from pandemic by 2023 | The Express Tribune
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[ad_1] MANILA: The global travel and tourism sectors are projected to return to pre-pandemic levels in 2023 and grow at a rate that will outpace global gross domestic product (GDP) growth, the World Travel and Tourism Council (WTTC) said on Thursday. The industry is expected to post an annual average growth rate of 5.8% from…
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Fish meal export to China tops 13,866 tons | The Express Tribune
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[ad_1] BEIJING: Pakistan’s fish meal export to China topped 13,866 tons with a value of over $15.68 million, showing a year-on-year increase of 250.59% in the January-February period, Chinese customs data showed. Despite the Covid-19 pandemic, bilateral trade between Pakistan and China has increased significantly. Pakistan’s exports to China stood at $670.72 million in January-February…
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India capitalises on Russian oil previously destined for Europe | The Express Tribune
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[ad_1] ISTANBUL: As European refineries shun away from Russia’s flagship export crude, Urals, India has been picking up more of Russia’s Black Sea and Baltic cargoes, motivated by large discounts, according to data compiled by real-time energy cargo tracker, Vortexa. Russia exports its Urals from the Baltic ports of Primorsk and Ust Luga but to…
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IMF sets tough terms for bailout revival | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has set out five major conditions for the revival of $6 billion bailout package, including reversal of fuel subsidies and withdrawal of the tax amnesty scheme, the new finance minister, Miftah Ismail, said on Wednesday. The other conditions are increase in electricity tariffs, imposition of new taxes and…
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Rupee continues to lose steam | The Express Tribune
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[ad_1] KARACHI: The downtrend in the rupee continued on Wednesday as well as the currency fell by Rs1.48 against the US dollar to close at Rs185.92 on the back of uncertainty about the resumption of International Monetary Fund (IMF) loan programme and speculation in the market. According to the State Bank of Pakistan, the rupee…
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Bank deposits grow 14% in March | The Express Tribune
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[ad_1] KARACHI: The bank deposit grew by a notable 14% over the past one year to Rs20.27 trillion in March, as the financial institutions mostly lent the deposits to the government which is in need of domestic borrowing to overcome its budgetary shortfall. Banks’ lending to the government against acquisition of sovereign debt securities like…
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PTA opposes banning cryptocurrencies | The Express Tribune
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[ad_1] ISLAMABAD: The Pakistan Telecommunications Authority (PTA) has expressed concerns over the decision to ban the trading of cryptocurrency in the country. Earlier, the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP) and the Ministry of Information Technology and Telecommunication proposed a complete ban on crypto-based transactions. According to the PTA,…
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11 enterprises setting up units in Rashakai SEZ | The Express Tribune
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[ad_1] PESHAWAR: The development of Rashakai SEZ, which was commercially launched on May 28, 2021, is in progress at a steady pace. The construction of industrial units is going on including Century Steel, which is a Chinese-owned conglomerate and will be a state-of-the-art steel manufacturing facility. Besides, 11 enterprises have been allotted land stretching over…
