Job layoffs reached record 98% compared to last year in the US: report

Image of an employee walking out after receiving a resignation letter. — Pixabay In 2023, the number of layoffs in the US surged to almost 98% as compared to last year. The New York Post reported citing the research findings published earlier this month in the Challenger, Gray & Christmas report, that companies planned 721,677 […]

Rupee closes below Rs280/$ after a year | The Express Tribune

KARACHI: The Pakistani currency strengthened to over a 12-month high, closing just below the highly anticipated level of Rs280 against the US dollar in the interbank market on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency appreciated by 0.04%, or Rs0.12, concluding at Rs279.98 against the greenback. This surge […]

Navigating trade in the new year | The Express Tribune

KARACHI: Year 2023 was challenging for Pakistan. The inflation rate skyrocketed to almost 30%, while the real GDP growth rate, as reported by the International Monetary Fund’s World Economic Outlook Database, was -0.5% in 2023. It was the only time, apart from the Covid-19 impacted 2020, that Pakistan reported negative growth in GDP in constant […]

What to expect in new year | The Express Tribune

ISLAMABAD: Year 2023 was a roller-coaster period for Pakistan’s economy, marked by significant highs and lows. One of the highlights was the Pakistan Stock Exchange (PSX) that reached an unprecedented level of 68,131 points on December 11. This milestone represented not only a decade high but also positioned PSX as the top-performing global market with […]

How to make extra money after costly Christmas, New Year spending?

People wind their way through the Eaton Centre in Toronto during the December holidays. — X/2thecanadianpress After the holidays, a lot of people check their bank accounts to see where all of their money has disappeared as it is common to find your wallet a little empty at the end of December due to travel, […]

PSX begins new year on positive note by gaining over 1,500 points

Stock brokers watching latest share price at Pakistan Stock Exchange (PSX). — APP/File KARACHI: The Pakistan Stock Exchange (PSX) began the new year by crossing the 64,000 barrier on Monday during the the intraday trading.  The benchmark KSE-100 index, in its first trading session of 2024, reached 64,023.98 points, up by 1,572.94 or 2.52% from the […]

Will 2024 be miracle year for China’s economy?

An urban building block in China. — AFP/File After a lacklustre post-COVID recovery, Beijing is faced with a difficult decision for 2024 and beyond: increase debt or decrease growth. This has cast serious doubt on the basis of China’s decades of remarkable growth. It was anticipated that after China abandoned its harsh COVID regulations, foreign […]

Saudi Arabia rolls over $3 billion deposit for another year

— AFP/File In a major relief to the country’s economy, Saudi Arabia has rolled over $3 billion deposit with the State Bank of Pakistan (SBP) for another year. “The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of USD 3 billion maturing on […]

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