Gold prices hit record highs in Pakistan amid global market surge | The Express Tribune
Gold prices hit an all-time high on August 16, 2024, propelled by a weaker US dollar and expectations of a potential interest-rate cut by the Federal Reserve. The metal’s appeal was further amplified by ongoing geopolitical tensions, particularly in the Middle East, which heightened demand for safe-haven assets. Spot gold increased by 1.7% to $2,498.72 […]
Reeling from electric shock consumers hit by petrol bomb | The Express Tribune
ISLAMABAD: The federal government further squeezed people’s purchasing power by raising petrol and diesel prices on Monday, a day after notifying a hike in electricity tariff for both domestic and commercial consumers. According to a finance ministry notification, petrol prices rose by Rs9.99 per litre, while high-speed diesel (HSD) increased by Rs6.18 per litre for […]
Cross-subsidy to hit exports | The Express Tribune
ISLAMABAD: Textile millers have warned that cross-subsidies for the fertiliser sector in “ring-fenced” re-gasified liquefied natural gas (RLNG) prices will have a destructive impact on Pakistan’s exports, employment and economy. In a statement, the All Pakistan Textile Mills Association (Aptma) pointed out that the Ministry of Energy (Petroleum Division) and the Oil and Gas Regulatory […]
Pakistan’s SOEs losses hit Rs905 billion in FY23
A repersentational image of a graph. — Unsplash Pakistan’s state-owned enterprises (SOEs) losses hit a staggering Rs905 billion in the fiscal year 2022-23, showing a 23% swell compared to the previous fiscal year of 2021-22. It was revealed in a report titled “Aggregate Annual Report on Federal State-Owned Enterprises (SOEs) for Financial Year 2023,” released […]
Pakistan stocks hit record high just shy of 74,000 points
Pakistani traders stand beneath an electronic board displaying share prices at the Pakistani Stock Exchange (PSX). — INP/File KARACHI: Stocks on Monday briefly breached 74,000 points barrier amid reports Pakistan may sign a deal with International Monetary Fund (IMF) for a new four-year programme of up to $8 billion by end-July, traders said, but managed […]
HSBC takes $1b hit from Argentina sale | The Express Tribune
LONDON: HSBC is selling its business in Argentina and booking a $1 billion loss on the deal, the bank said on Tuesday, as it continues to shrink its once globe-spanning empire to focus on Asia. HSBC is selling the business, which covers banking, asset management and insurance, to Argentina’s fifth largest bank Grupo Financiero Galicia […]
Parts of Karachi to be hit with gas suspension: SSGC
Gas cylinder vendors working at a shop in Peshawar, on November 13, 2023. — APP Parts of Karachi, the country’s biggest city by population, will be hit with a gas suspension, the Sui Southern Gas Company (SSGC) announced Friday, as residents of the bustling metropolis face prolonged loadshedding and low pressure due to winters. In […]
‘Turkey’s intl debt sales could hit record in 2024’ | The Express Tribune
LONDON: Turkey’s pivot back to orthodox fiscal policies could pay off with record debt issuance and the continued return of foreign investors in 2024, JPMorgan Managing Director Stefan Weiler told Reuters. International investors had fled Turkey amid years of low interest rates, despite soaring inflation, as well as a complex web of financial regulations and […]
Using technology to hit the right notes | The Express Tribune
Azima Dhanjee is a young entrepreneur who was raised by deaf-mute parents. But instead of being bogged down by what many would see as a challenge, she used her experience to craft a novel solution that is not only changing lives but reshaping organisational attitudes. The young Dhanjee told her inspiring story while in conversation […]
If you got $2 bills, you may have just hit a jackpot, says US Currency Auctions
2$ dollar bills kept on a table. — X/@alamy If you have a $2 bill somewhere around, you should know that they may be worth thousands — as per the information provided by US Currency Auctions, certain $2 bills are worth about $5,000. According to the business, 1890 $2 notes with a red or brown […]