Solar energy: Govt denies fixed tax reports, hints at revising rates

Several solar panels can be seen in this picture. — AFP/File Refuting a report claiming the government plans to impose fixed tax on solar power, the Power Division on Saturday said there is no truth to the news. Reports were circulating on social media platforms that a summary had been moved to introduce the fixed […]

BOJ ‘very likely’ to hike rates if inflation keeps rising | The Express Tribune

WASHINGTON: Bank of Japan Governor Kazuo Ueda said on Friday the central bank “very likely” will raise interest rates if underlying inflation continues to go up, and begin reducing its huge bond buying at some point in the future. The central bank must maintain loose monetary policy for the time being as underlying inflation remains […]

Indonesia c bank: No room to cut rates | The Express Tribune

PADALARANG: Indonesia’s central bank has room to lower interest rates this year to lift economic growth, but is waiting for the rupiah to strengthen against the dollar, Governor Perry Warjiyo said on Saturday. “If we rush while the global condition is in disequilibrium, the rupiah could weaken and inflation goes out of control,” he told […]

The fallacy of competitive energy rates | The Express Tribune

While export subsidies may offer temporary relief to certain sectors, they come at a high fiscal and opportunity cost, distorting the economic landscape. photo: file ISLAMABAD: The interim government, in its recent policy move, opted to increase gas prices while rejecting the idea of eliminating subsidies for exporters. Export subsidies have been a contentious and […]

US Fed keeps interest rates at 22-year high in attempt to curb inflation

Security personnel walk past the US Federal Reserve building in Washington, DC on Oct 22, 2021.— AFP In an effort to curb persistent inflation without weakening the robust economy, the US Federal Reserve decided on Wednesday to keep interest rates at a 22-year high for the second consecutive meeting. The Fed’s decision to keep its […]

After much ado, increase in gas rates approved | The Express Tribune

ISLAMABAD: The federal cabinet on Monday approved up to 193% increase in gas prices to recover an additional Rs350 billion from consumers in this fiscal year while making some further adjustments in the recommended rates for industrial and CNG consumers. Headed by Prime Minister Anwaarul Haq Kakar, the cabinet approved up to 172% increase for […]

US home sales decline as prices rise, interest rates increase

A ‘For Sale’ sign is seen in front of a home on August 21, 2015 in Miami, Florida. — AFP Sales of US homes have been steadily declining since August as supply remained constrained and mortgage rates remained high, the industry figures released on Thursday revealed. Sales of existing homes have cooled in the world´s […]

High costs and rising rates make homeownership a challenge for young Americans

Prospective home buyers leave a property for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. AFP/File Young Americans are finding it […]

Nepra asked to increase electricity rates by over Rs10 for K-Electric consumers

A WAPDA worker fixes electricity wires on a pole in Islamabad on August 4, 2023. — Online The Energy Ministry Monday filed an application before the National Electric Power Regulatory Authority (Nepra), seeking an increase of Rs10.32 in three quarterly tariff adjustments (QTAs) for the consumers of K-Electric. The request by the ministry has been […]

Gold rates gain over Rs3,000 per tola as rupee takes a hit

The picture shows gold necklaces. — AFP/File  KARACHI: Gold rates saw a major increase in Pakistan on Monday as the rupee took a hit against the dollar while the international prices also saw a minor gain.  The price of gold (24 carats) increased by Rs3,100 per tola and Rs2,658 per 10 grams to settle at […]

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