Tribune
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Ministry sees further hike in inflation | The Express Tribune
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[ad_1] ISLAMABAD: The government said on Thursday that the inflation rate might further accelerate this month while Finance Minister Shaukat Tarin proposed to give fuel cards to motorcyclists and relax the taxable income threshold to bail out the inflation-stricken salaried class. The Ministry of Finance released its Monthly Economic Outlook report for January 2022 but…
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Oil holds 7-year high as Russia tensions offset Fed tightening | The Express Tribune
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[ad_1] NEW YORK: Oil prices steadied on Thursday, after Brent crude earlier hit a seven-year high above $90 a barrel, as the market continued to balance concerns about tight worldwide supply with expectations that the US Federal Reserve will soon tighten monetary policy. Global benchmark Brent rose $0.15 to $90.11 a barrel by 11:40 AM…
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ECB kicks off climate stress test for banks | The Express Tribune
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[ad_1] FRANKFURT: The European Central Bank launched a stress test on Thursday to assess how prepared banks are to deal with potential shocks stemming from climate risk, it said in a statement. The ECB has long warned that euro zone lenders are failing to meet its climate risk management goals, and repeatedly called on them…
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Experts denounce political hirings | The Express Tribune
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[ad_1] LAHORE: Industry experts have stated that a reason behind the hike in energy cost and the surge in cost of doing business is the appointment of officials on vested interests in the power sector in complete disregard of the fit and proper criteria. They were of the view that the concept of boards, which…
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Interest-free credit flow remains slow | The Express Tribune
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[ad_1] ISLAMABAD: Loan disbursements under the Kamyab Pakistan Programme remained quite low at Rs466 million, or 2.3% of the revised two-month target, affirming apprehensions about slim chances of success due to various reasons. During November-December 2021, out of three, two commercial banks through two partner microfinance institutions disbursed Rs466 million to less than 3,000 clients,…
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Struggling Air India sold after 69 years in govt hands | The Express Tribune
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[ad_1] MUMBAI: India’s beleaguered national carrier landed back in the hands of its founders on Thursday, decades after it was nationalised and following years as a monumental burden on the public purse. Tata, a sprawling family-owned conglomerate with interests ranging from tea to software, is back in charge of Air India after concluding the 180…
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Market watch: Drop in T-bill yields pushes up stock market | The Express Tribune
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[ad_1] KARACHI: Bulls held their grip on the Pakistan Stock Exchange on Thursday, pushing the KSE-100 index above the 45,000-point mark, as investors cheered the drop in yields on government papers in the latest auction. On Wednesday, the rate of return on T-bills and Pakistan Investment Bonds (PIBs) declined owing to the status quo in…
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Foreign exchange: SBP reserves fall $846m to $16.19b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell 4.96% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On January 21, the foreign currency reserves held by the SBP were recorded at $16,190.1 million, down $846 million compared with $17,035.7 million on January…
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Oil at seven-year high as Ukraine crisis overshadows Fed | The Express Tribune
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[ad_1] LONDON: Oil extended gains to seven-year highs above $90 a barrel on Thursday as the Ukraine crisis outweighed signs that the US Federal Reserve will tighten monetary policy. Brent crude futures were up $0. cents, or 1%, at $90.85 a barrel by 1217 GMT. US West Texas Intermediate (WTI) crude futures were up $0.87,…
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Govt won’t back off on SBP autonomy: Tarin | The Express Tribune
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[ad_1] ISLAMABAD: As the International Monetary Fund (IMF) gave a second lifeline to Pakistan to meet a crucial condition, Finance Minister Shaukat Tarin on Wednesday declared that the government would not back off from having the State Bank of Pakistan (SBP) amendment bill approved by the Senate. Addressing a news conference, Tarin also said that…
