Tribune
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Market watch: Stocks edge up in range-bound session | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed another range-bound session on Friday, as sceptical investors continued to stay on the sidelines owing to prevailing volatility on the international and domestic fronts. The benchmark KSE-100 index, after oscillating in a narrow range throughout the day, managed to close the week on a positive note. Anticipation of…
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Oil rises above $112 as Ukraine conflict offsets Iran supply hope | The Express Tribune
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[ad_1] LONDON: Oil rose above $112 a barrel on Friday in a volatile session as fears over disruption to Russian oil exports in the face of Western sanctions offset the prospect of more Iranian supplies in the event of a nuclear deal with Tehran. Signs of an escalation in the Russia-Ukraine conflict, with reports of…
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Bank of Canada to act aggressively | The Express Tribune
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[ad_1] OTTAWA: The Bank of Canada said on Thursday it would act “with determination” to rein in soaring prices, saying a failure to act decisively would make it much more painful to bring inflation back to target. Bank of Canada Governor Tiff Macklem, speaking to a business audience, said the central bank did not intend…
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SAARC CCI seeks assistance for Kabul | The Express Tribune
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[ad_1] ISLAMABAD: It is better to engage Afghanistan and help normalise its economic conditions instead of weakening the country through unjustified and unwarranted unilateral sanctions, remarked Saarc Chamber of Commerce and Industry President Iftikhar Ali Malik. Talking to a delegation of traders from south Punjab, led by former Federation of Pakistan Chambers of Commerce and…
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SBP reserves fall $344m to $16.46b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 2.05% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On February 25, the foreign currency reserves held by the SBP were recorded at $16,462.3 million, down $344 million compared with $16,806.5 million on February…
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SBP focusing on P2C under Raast | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is working to roll out product-to-consumer (P2C) digital payment system under Raast this year which will create an enabling environment for e-commerce business to thrive in the country. The instant payment system would lead the way for the central bank to introduce its own digital currency in future. “The next…
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Cement sales shrink 4.75% in February 2022 | The Express Tribune
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[ad_1] LAHORE: Cement sales contracted 4.75% in February 2022 and reached 4.36 million tons against 4.57 million tons in the same month of previous year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA) on Thursday, local sales by the cement industry stood at 3.95 million tons in February 2022, which was…
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Minister’s absence from roundtable sparks concern | The Express Tribune
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[ad_1] ISLAMABAD: The absence of Federal Minister for Information Technology and Telecommunication Syed Aminul Haq from the Digital Pakistan roundtable in Barcelona has caused discomfort to industry players. The minister travelled from Pakistan specifically to attend the Mobile World Congress in the Spanish city of Barcelona, where the GSMA’s exclusive Digital Pakistan roundtable, titled “Whole…
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Pakistan, IMF to begin talks today | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund (IMF) will begin talks today (Friday) for the next $960 million loan tranche and have set the first session for discussion on the new budget and impact of deviation from prudent economic policies. The new IMF mission chief and his team will join the talks virtually from…
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Oil steadies from decade highs as Iran talks kindle hopes | The Express Tribune
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[ad_1] HOUSTON: Oil steadied after hitting prices not seen in roughly a decade on Thursday, as sellers jumped in on hopes that the United States and Iran will agree soon to a nuclear deal that could add barrels to a badly undersupplied market. Trade was volatile, however, as investors anticipate ongoing disruption to worldwide oil…
