Tribune
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SBP reserves fall $241m to $17.09b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank declined 1.4% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On February 11, the foreign currency reserves held by the SBP were recorded at $17,095.8 million, down $241 million compared with $17,336.8 million on February…
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LSM growth slows down to 7.4% | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s big industries posted 7.4% growth in the first half of current fiscal year, which was more than double the rate under the old methodology that the government has now changed. The Pakistan Bureau of Statistics (PBS) on Thursday released the first growth figures of Large-Scale Manufacturing (LSM) industries under the new base…
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Engro Corp’s profit ticks up 19.26% to Rs52.6b | The Express Tribune
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[ad_1] KARACHI: Engro Corporation’s profit after tax rose 19.26% to Rs52.6 billion in 2021 owing to increase in sales and decline in finance cost. According to a notice sent to the Pakistan Stock Exchange on Thursday, the company posted a profit of Rs44.4 billion in 2020. Accordingly, the earnings per share of the enterprise rose…
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K-Electric tariff cut by Rs2.6 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The power sector regulator on Thursday slashed the tariff of K-Electric by Rs2.60 per unit on account of fuel cost adjustment for December 2021. The National Electric Power Regulatory Authority (Nepra) announced the tariff reduction following a public hearing on February 2, 2022. Earlier, it had reserved its decision. The tariff cut will…
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FDI grows 11% to $1.17b in Jul-Jan FY22 | The Express Tribune
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[ad_1] KARACHI: China and the United States, the two leading global economies, emerged as the largest foreign investors in Pakistan during the first seven months (July-January) of current fiscal year. Among different sectors of the economy, power, banks, communication and oil and gas exploration were on top as they attracted significant investment in their projects.…
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Oil slides 2% as Iran talks overshadow Ukraine crisis | The Express Tribune
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[ad_1] NEW YORK: Oil prices fell about 2% on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages which could unlock more crude supplies, but losses were limited by heightened tensions between top energy exporter Russia and the West over Ukraine. “(The) oil market is locked in a tug of…
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Prospects of new energy vehicles in Pakistan | The Express Tribune
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[ad_1] BEIJING: According to recent data released by the Pakistan Automobile Manufacturing Association (PAMA), Pakistan’s automobile sales surged by 61.89% in the first five months (July-November) of this fiscal year compared to the same period of the previous year. “The purchasing power of automobiles reflects the economic strength of a country,” said Pakistan’s Honorary Investment…
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Businessmen urge govt to review petrol price hike | The Express Tribune
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[ad_1] ISLAMABAD: The recent hike in the prices of petroleum products has perturbed the businessmen of Karachi and they have urged the government to review the increase. In a statement on Thursday, SITE Association of Industry President Abdul Rasheed criticised the government for raising prices of petroleum products and requested Prime Minister Imran Khan to…
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‘Euro zone may have turned page on low inflation’ | The Express Tribune
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[ad_1] FRANKFURT: The ultra-low inflation seen in the euro zone until recently is unlikely to return even after the pandemic is over, European Central Bank’s Chief Economist Philip Lane said, citing changes in the global economy among other factors. Lane had dismissed the notion of a new era for inflation until recently but he has…
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Punjab to receive cheaper gas | The Express Tribune
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[ad_1] ISLAMABAD: Punjab, the gas-starved province, is set to receive cheaper gas supplies after the Senate on Thursday passed a bill for applying the weighted average cost of gas (Wacog). In addition, the law will help the government to reduce circular debt in the gas sector while the share of liquefied natural gas (LNG) in…
