Tribune
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Business leaders for bridging trade deficit with Morocco | The Express Tribune
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[ad_1] KARACHI: Pakistan’s trade deficit with Morocco has reached close to $300 million which is huge when seen in the context of total bilateral trade of approximately $350 million, remarked Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Shaikh. In a statement on Monday, he emphasised that trade deficit of Pakistan…
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IMF programme likely to resume | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economic fundamentals have continued to remain strong and the unpopular decisions of the government to hike the energy prices in future is likely to get $6 billion International Monetary Fund (IMF) loan programme back on track. The engagement of the Ministry of Finance and the central bank with the International Monetary Fund…
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Moody’s maintains stable outlook for banks | The Express Tribune
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[ad_1] KARACHI: Moody’s Investor Service has maintained a stable outlook for Pakistan’s banking sector, citing that sustainable growth and increase in financial inclusion are boosting lending opportunities. “We continue to maintain a stable outlook for the banking sector in Pakistan (B3 stable),” the ratings agency said in a statement on Monday. “This balances good economic…
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Rupee recovers 1.75 as political noise eases | The Express Tribune
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[ad_1] KARACHI: The rupee staged a sharp recovery on Monday as it appreciated Rs1.75 in the inter-bank market to close at Rs182.93 against the US dollar aided primarily by the easing political noise and the emergence of clarity. Investor speculation ended in the foreign exchange market as the political scene turned stable ahead of the…
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Circular debt to haunt new govt | The Express Tribune
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[ad_1] ISLAMABAD: The worsening circular debt in the energy chain will continue to haunt the new government along with the challenge of dealing with the rising crude oil prices in the global market following the Russia-Ukraine war, officials say. At present, energy companies are facing financial constraints and are struggling to get their outstanding dues…
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War to cut Ukraine’s GDP by over 45% in 2022 | The Express Tribune
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[ad_1] WASHINGTON: Ukraine’s economic output will likely contract by a staggering 45.1% this year as Russia’s invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday. The World Bank also forecast Russia’s 2022 GDP output to fall 11.2% due to punishing financial…
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EU likely to revisit renewable targets | The Express Tribune
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[ad_1] CAIRO: The European Union may set more ambitious targets for its transition to renewable energy as it seeks alternatives to imports of oil and gas from Russia, EU climate policy chief Frans Timmermans said on Sunday. The EU’s 27 member states have agreed to collectively reduce their net greenhouse gas emissions by 55% from…
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Oil drops below $100 on reserve release, lockdowns | The Express Tribune
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[ad_1] LONDON: Oil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June delivery was down $4.29, or 4.2%, at $98.49 a barrel by 1341 GMT.…
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Traders urge new govt to prop up economy | The Express Tribune
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[ad_1] ISLAMABAD: Reviving the economy and placing it on a path of sustainable growth should be the top priority of the new government, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. In a statement on Monday, he argued that turning the economy stable and resilient was the key to a better…
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PSX posts highest-ever gain of 1,700 points | The Express Tribune
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[ad_1] KARACHI: With the settlement of the prolonged political row in the country, the Pakistan Stock Exchange skyrocketed on Monday, as investors were observed celebrating the clarity on the political front stemming from the resignation of PM Imran Khan post no-confidence vote. The benchmark KSE-100 index posted the highest-ever single-day gain of 1,700 points (in…
