Tribune
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Market watch: Petroleum price hike pulls stocks down | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange on Wednesday experienced a tumultuous session as the KSE-100 index traded on both sides of the fence and closed the day on a negative note. A massive increase in petroleum prices by the government impacted investor sentiment, which kept trading in a narrow range. As inflation reading was expected…
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Oil prices recoup losses | The Express Tribune
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[ad_1] LONDON: Oil prices recouped losses on Wednesday as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine amid tight global supplies and recovering fuel demand. Brent crude was up $1.37, or 1.5%, at $94.65 a barrel around 1200 GMT, having slid 3.3% overnight after Russia announced a partial…
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PM Office seeks Rs200b to offset inflation impact | The Express Tribune
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[ad_1] ISLAMABAD: The Prime Minister (PM) Office has asked for a Rs200 billion budget to immediately provide relief to the inflation-hit people amid tight fiscal controls imposed by the International Monetary Fund (IMF) that did not leave any cushion for additional spending. PM Imran Khan wants to bail out the lower- and middle-income groups from…
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Visit of Kazakh traders to deepen ties | The Express Tribune
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[ad_1] ISLAMABAD: Many Pakistani products such as sports goods, medicines and surgical instruments have good potential for trade in Kazakhstan, said Kazakh Ambassador to Pakistan Yerzhan Kistafin. Speaking during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday, he announced that a high-powered business delegation, led by the president of Kazakhstan,…
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Cabinet gives nod to Cloud First Policy | The Express Tribune
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[ad_1] ISLAMABAD: The federal cabinet on Tuesday approved the Cloud First Policy and the Personal Data Protection Bill to ensure the privacy of online data, which were deemed crucial to enter the digital world. The Cloud First Policy has listed five classes of data, which include open data in the public sector to make the…
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Oil transporters announce protest | The Express Tribune
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[ad_1] KARACHI: Petroleum transporters have announced that they will hold a peaceful protest and sit-in outside the headquarters of a state-owned oil marketing company from Wednesday onwards and threatened to cut fuel supplies across the nation. “We have given call for an indefinite peaceful protest,” All Pakistan Oil Tankers Owners Association (APOTOA) spokesman Israr Ahmed…
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SBP approves EMI licence for fintech | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP), in its efforts to enhance digital financial inclusion in the country, has approved the grant of Electronic Money Institution (EMI) licence to a financial technology firm. With the central bank’s approval, Hubpay became the first fintech in Pakistan to hold the EMI licence. Talking to The Express…
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E-banking transactions exceed GDP | The Express Tribune
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[ad_1] KARACHI: Owing to the revolutionary initiatives introduced by the central bank, the e-banking transactions in Pakistan were recorded at around $500 billion in the previous fiscal year (2020-21), revealed State Bank of Pakistan (SBP) Governor Reza Baqir. Speaking at the launch of Raast Person-to-Person (P2P) Instant Payments System on Tuesday, the central bank governor…
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World Bank warns of growing debt crisis | The Express Tribune
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[ad_1] WASHINGTON: Delays in dealing with the growing debt burden in poor countries seem unlikely to be resolved by the G20, a top World Bank official warned. As interest rates are starting to rise around the world, putting more pressure on borrowers, the Group of 20 finance ministers are due to meet in Indonesia this…
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Hubco’s profit declines 42% to Rs5 billion | The Express Tribune
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[ad_1] KARACHI: Hub Power Company registered a 42% drop in its profit that reached Rs5 billion in the quarter ended December 31, 2021 primarily due to a hefty loss suffered by an associate firm. According to a notice sent to the Pakistan Stock Exchange on Tuesday, the energy company had posted a profit of Rs8.45…
