Rise in used car imports raises alarm | The Express Tribune

LAHORE: The import of used cars has seen a staggering surge of 684% in the first six months of the current fiscal year compared to the same period last year. Sources indicate that over 16,500 units of used cars were imported from July to December 2023, marking an exponential increase compared to the approximately 2,100 […]

Australia’s cypto experts decode secret to Bitcoin unexpected rise

Several cryptocurrencies can be seen in this photo. — AFP File The value of the digital currency Bitcoin has hit an all-time high in its 15-year history.  The cryptocurrency enthusiasts of Australia said that the current spike in Bitcoin value is like stepping into a “brand new world” for cryptocurrencies, according to experts. The current […]

Kaspersky reveals 30% rise in ransomware attacks | The Express Tribune

ISLAMABAD: The proliferation of targeted ransomware groups has surged, with these entities now notorious for attacking governments, specific high-profile organisations, or select groups within larger entities, said a press statement. Research conducted by Kaspersky experts reveals a 30% increase in the number of targeted ransomware groups globally from 2022 to 2023. According to the statement, […]

Intuitive Machines stocks rise by 300% as Odysseus spacecraft reaches near Moon

This screengrab shows Intuitive Machines’ Odysseus lunar lander separates from the rocket’s upper stage and heads toward the moon. — SpaceX/Nasa/File With its IM-1 mission headed for the lunar surface, shares of Intuitive Machines have risen more than 300% since early January, just over a month after they reached all-time lows.  Wall Street analysts attributed […]

CAD at 6-month high as outflows rise | The Express Tribune

Country-wise major outflow was witnessed from China ($225 million) and sector-wise major outflow witnessed in the power sector ($243 million) in January 2024. Photo: afp KARACHI: Pakistan’s balance of the current account failed to stay in surplus for the second successive month, hitting a six-month high deficit of $269 million in the wake of a […]

Remittances rise slightly in January to $2.4bn

A currency exchange agent counts US Dollars at his company in Iraq’s southern city of Basra, on December 8, 2023. — AFP KARACHI: Pakistan received $2.4 billion in remittances from its overseas workers in January, up by 0.6% from the previous month, said the State Bank of Pakistan (SBP) in a statement on Monday. “In terms of growth, […]

IT exports rise on fair policies | The Express Tribune

LAHORE: Pakistan’s information technology exports rose 17% and reached $303 million in December 2023 against exports of $259 million in November, as the country’s IT experts and freelancers continued to make inroads into international markets. This is in line with increased focus of the government and growing calls from analysts to capitalise on the high […]

New US car sales are anticipated to rise in 2024

The showroom and service centre for the US automotive and energy company Tesla in Amsterdam. — AFP/File Sales of new cars are predicted to rise marginally in the United States in 2024, as the automobile sector continues to normalise following the coronavirus pandemic and other supply chain issues since 2020. Leading car data companies predict […]

Workers’ remittances rise in October after crackdown

A currency exchange dealer counts $100 bills in this undated picture. — AFP/File  KARACHI: Following the crackdown against the illegal exchange market and closing of the gap between interbank and open markets, the workers’ remittances were recorded at $2.5 billion in October making it an increase of 9.6% year-on-year basis, according to the State Bank […]

Ban on profit outflow lifted as reserves rise | The Express Tribune

KARACHI: Pakistan has lifted an unannounced ban on foreign companies freely sending their earned profits to their headquarters abroad, following increased supplies of US dollars in the domestic economy, sending a strong message to global investors to resume initiating new investment projects in the country. The State Bank of Pakistan (SBP)’s latest data shows multinational […]

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