Tribune
-
Oil prices fall as market weighs mixed supply signals | The Express Tribune
.
[ad_1] LONDON: Oil prices slipped on Thursday in thin trade ahead of a public holiday, as traders weighed a larger-than-expected build in US oil stocks against tightening global supply. Brent futures were down $0.86, or 0.8%, at $107.92 a barrel, while US West Texas Intermediate futures were off $1.1 or 1.1%, at $103.15 a barrel…
-
Industry appeals to leadership for cut in energy tariff | The Express Tribune
.
[ad_1] KARACHI: Businessmen have appealed the newly elected Prime Minister Shahbaz Sharif to reduce electricity tariffs in a bid to aid the industrial sector. “The unnecessary increase in electricity tariffs by the previous government has directly affected the industries,” said Korangi Association of Trade and Industry (KATI) Acting President Farrukh Qandhari in a statement on…
-
ECB monitoring inflation expectations | The Express Tribune
.
[ad_1] FRANKFURT: Measures of underlying inflation in the euro zone have risen above the European Central Bank’s 2% target and the ECB is closely monitoring inflation expectations, its President Christine Lagarde said on Thursday. She said upside risks to the inflation outlook had intensified, especially in the near term. Headline euro zone inflation hit a…
-
Traders urge govt to prioritise sustained growth | The Express Tribune
.
[ad_1] ISLAMABAD/FAISALABAD: Sustained economic growth should be the top priority of the government and Prime Minister Shehbaz Sharif should achieve this objective by translating his idea of the charter of economy into practical terms, said Faisalabad Chamber of Commerce and Industry (FCCI) President Atif Munir Sheikh. Speaking to APP on Thursday, Sheikh stated that “our…
-
Chinese seeds to boost rice output | The Express Tribune
.
[ad_1] BEIJING: Pakistan is a huge rice-growing country and its paddy area reached 3.3 million hectares in the year 2021. However, problems such as drought and salinity have made large arable land vacant, which has greatly affected its total rice production. “In Pakistan, only 22-23% of land is cultivated,” said Karachi Chamber of Commerce and…
-
Market watch: Stock market rises, aided by refinery sector | The Express Tribune
.
[ad_1] KARACHI: Bulls returned to the Pakistan Stock Exchange on Thursday who lifted the benchmark KSE-100 index by 319 points to nearly 46,500 points. Investors were observed cherry-picking stocks that had dropped to attractive valuations during the bearish spell at the bourse last week. Encouraged by the consistent uptrend in global crude oil prices, massive…
-
Foreign exchange: SBP reserves fall $470m to $10.85b | The Express Tribune
.
[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 4.15% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 8, the foreign currency reserves held by the SBP were recorded at $10,849.6 million, down $470 million compared with $11,319.2 million on April…
-
PM Shehbaz orders urgent formulation of economic reforms strategy | The Express Tribune
.
[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday chaired a high level meeting to discuss the country’s current economic situation wherein he directed his economic team to formulate an economic reform strategy on an emergency basis. The premier stated that the government was taking urgent measures to achieve economic stability. He directed his economic team…
-
Remittances hit all-time high in March | The Express Tribune
.
[ad_1] KARACHI: The workers’ remittances received by Pakistan hit an all-time high of $2.8 billion in March, extending support to foreign exchange reserves and rupee against the US dollar. “This is the highest ever monthly level for workers’ remittances,” Pakistan’s central bank reported on Thursday. Cumulatively, the remittances have risen to $23 billion in the…
-
WB wants end to ‘unsustainable’ energy subsidies | The Express Tribune
.
[ad_1] ISLAMABAD: The World Bank has made improved economic growth projections for Pakistan but sees deterioration in the external debt repayment capacity and called for urgent measures to avoid risks of running large fiscal and current account deficits. The Washington-based lender also asked Pakistan to immediately withdraw energy subsidies, terming these “unsustainable and ineffective”. The…
