Govt unveils plan to cut rising production costs | The Express Tribune
LAHORE: Federal Minister for Commerce Jam Kamal Khan stated that the government has devised a comprehensive strategy to address the rising production costs and promote the manufacturing sector in Pakistan. Speaking to the business community at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday, Khan stressed the importance of a conducive business environment […]
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 […]
Industrialists warn of rising production costs | The Express Tribune
KARACHI: Business leaders have warned that a significant surge in petrol prices would lead to price increases across all commodities and products, adding 5% to the cost of all industrial production. Speaking to The Express Tribune, they expressed concern that the tough conditionalities imposed by the International Monetary Fund (IMF) would burden the nation, rather […]
Power generation drops 2.4% in Jan amid rising fuel costs | The Express Tribune
KARACHI: Pakistan’s power generation dropped by 2.4% to 8,314 Gigawatt hours (GWh) in January 2024 due to low demand in the system during the winter month. However, the cost of the fuel component in the overall production surprisingly surged by 23% to Rs13.79 per unit due to increased reliance on expensive fuels like imported gas, […]
Israel-Hamas hostilities drag down US stocks amid rising inflation fears
Palestinian militants fire rockets toward Israel from Rafah, southern Gaza Strip, on Oct. 11, 2023. — AFP Wall Street stocks mainly fell on Friday, capping a turbulent week in which investors evaluated bank earnings, worried about inflation, and appraised Israel-Hamas hostilities. The Dow Jones Industrial Average edged up 0.1% to 33,670.29, while the broad-based S&P […]
Power reforms: Broken promises and rising costs | The Express Tribune
LAHORE: Financial globalisation has driven the microeconomic reforms in the power sector in the last 30 years. After the unbundling of the Water and Power Development Authority (WAPDA), electricity generation is being done by WAPDA, Pakistan Atomic Energy Commission and a plethora of Independent Power Producers (IPPs). Transmission function is performed by the National Transmission […]
Rupee continues its rising streak for 15th straight session
A currency dealer can be seen counting $100 notes while Rs5,000 notes are placed on the table. — AFP/File The Pakistani rupee maintained its upward trajectory against the US dollar for the 15th consecutive session on Monday. The local unit gained Re0.9 against the greenback in the interbank market today. The PKR closed at Rs290.86 […]
Sweden to eliminate taxes on plastic bags amid concerns of rising environmental waste
A dumping ground of plastic bags in Sweden. — AFP Sweden’s right-wing government announced on Wednesday that it planned to scrap taxes on plastic bags as of November 2024, a move that was sharply slammed by environmental organisations. “We’re convinced that the Swedish people use plastic bags wisely in their daily lives and that there´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 […]
Of rising oil prices and the devaluing rupee | The Express Tribune
KARACHI: There’s an old adage that says, ‘Prepare for the worst and hope for the best.’ As Pakistan faces the twin challenges of rising oil prices and a declining rupee, this wisdom could not be more relevant. Being a nation that imports energy products, Pakistan annually incurs substantial costs, which amounted to $17 billion in […]