Tribune
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S&P cuts Russia’s foreign currency rating to ‘selective default’ | The Express Tribune
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[ad_1] MELBOURNE: S&P on Saturday lowered Russia’s foreign currency ratings to “selective default” on increased risks that Moscow will not be able and willing to honour its commitments to foreign debt holders. Facing waves of sanctions over its invasion of Ukraine, Russia could face its first sovereign external default in over a century after it…
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Beaten-down growth stocks turn alluring for investors | The Express Tribune
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[ad_1] NEW YORK: Some investors are looking for bargains in beaten-down growth and tech stocks, betting they will shine as the Federal Reserve fights to slow the US economy and tame redhot inflation. Growth stocks – which have trounced their valued-focused peers over the last decade – have borne the brunt of the Federal Reserve’s…
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KSE ends eventful week in loss | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange recorded a roller coaster week as a mixture of political turmoil, dismal economic data and rupee devaluation struck the trading environment and dampened investor sentiments. Political uncertainty and constitutional crisis loomed large at the bourse for most part of the week and restrained the market from recording gains. Resultantly,…
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SBP supplies Rs3.37tr to banks | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has supplied record high financing worth Rs3.37 trillion to banks for a period of seven days to address short-term liquidity crunch in the financial market, as demand for financing from the government stands high at present, bankers told The Express Tribune The State Bank of Pakistan (SBP) has injected a…
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Staring down the politico-economic barrel | The Express Tribune
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[ad_1] PUBLISHED April 10, 2022 ISLAMABAD: August 13th, 2021 – a day before the nation’s 74th Independence Day – a jubilant Governor State Bank of Pakistan, Dr Reza Baqir, hurriedly called a meeting with Islamabad’s economic correspondents corps just an hour before boarding a plane to Karachi. The Governor shared the ‘great news’ that Pakistan’s…
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SPI increases 1.53% | The Express Tribune
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[ad_1] The Sensitive Price Indicator (SPI) for the week ended April 7, 2022 registered an increase of 1.53% for the combined income group, going up from 171.82 points during the week ended March 31, 2022 to 174.45 points in the week under review. The SPI for the combined income group rose 17.87% compared to the…
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Oil set for weekly fall on stock releases | The Express Tribune
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[ad_1] HOUSTON: Oil prices were stable on Friday in choppy trading but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks. Brent crude futures were up $0.07, or 0.08%, at $100.67 a barrel by 1442 GMT. US West Texas Intermediate (WTI) crude futures rose $0.3…
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Steel prices rise for second time in April | The Express Tribune
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[ad_1] KARACHI: Manufacturers in the domestic steel industry have increased the prices of steel sheets for the second time in the ongoing month of April in the wake of rupee depreciation and passed on the price pressure to the downstream industry such as automobile and home appliance segment. Flat steel industry players have hiked the…
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Industrial sector creates most jobs | The Express Tribune
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[ad_1] BEIJING: According to a recent Labour Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS), a majority of new jobs during the last three years have been created in the industrial sector. Survey findings revealed that Pakistan’s economy created a total of 5.5 million jobs during the past three years –1.84 million…
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Rupee breaks losing streak, rises Rs3.5 | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee broke a prolonged downward streak and made a sharp recovery in the inter-bank market on Friday as it gained Rs3.5 against the US dollar to close at Rs184.68 following the emergence of some political clarity in the country. According to the State Bank of Pakistan (SBP), the rupee had closed at…
