Category: Business

PSX surges to record close above 82,000 points on economic optimism – SUCH TV

September 20, 2024 Admin No Comments

Stocks scaled a new peak on Friday, with the benchmark index surpassing the 82,000 mark during intraday trade, as forecasts of declining inflation and hopes of further monetary loosening by the central bank spurred a buying spree, traders said. The KSE-100 index jumped by 615.16 points, or 0.76%, to reach 82,074.44 from its previous close…

Business

US Fed Cuts Interest Rate By 50 bps, Jerome Powell Says Upside Inflation Risks Have Diminished – News18

September 18, 2024 Admin No Comments

US Fed Meeting: The US Federal Reserve on Wednesday cut key interest rates by 50 basis points to 4.75-5 per cent. This is the first rate cut in more than four years. The two-day meeting of the Federal Open Market Committee (FOMC), the rate-setting authority in the US, concluded on Wednesday. While addressing the media…

Business

Govt Launches BHASKAR One Stop Digital Platform To Connect Startup Ecosystem

September 16, 2024 Admin No Comments

New Delhi: The Union Minister of Commerce and Industry, Piyush Goyal on Monday, unveiled the Bharat Startup Knowledge Access Registry or BHASKAR digital platform for all the stakeholders of the startup ecosystem to connect and collaborate within the landscape. The platform is designed to centralise, streamline, and enhance collaboration among key stakeholders within the entrepreneurial…

Business

Centre lifts ‘minimum export price’ on basmati rice, increases duties on edible oils – Times of India

September 14, 2024 Admin No Comments

NEW DELHI: The ministry of Commerce and Industry on Friday announced that the Center has removed the minimum export price (MEP) threshold for basmati rice exports, in order to increase farmers income by with the export of basmati rice, a premier GI-tagged variety from India.This decision was taken in light of adequate domestic rice availability…

Business

India’s August retail inflation stays below 4% for second consecutive month | The Express Tribune

September 12, 2024 Admin No Comments

NEW DELHI: India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation was at 3.65% in August, higher than the revised 3.60% in July and economists’ forecast of 3.5%. India’s…

Business

Union wins Tesco ‘fire and rehire’ case

September 12, 2024 Admin No Comments

Getty Images A shop workers’ union has won a Supreme Court battle against Tesco over so-called “fire and rehire” plans put forward by the supermarket giant. The row erupted in 2021 after Tesco proposed firing staff at some distribution centres and rehiring them on lower pay. The Usdaw union said it was “delighted to get…

Business

IMF board to review Pakistan’s $7b loan on September 25 after key conditions met | The Express Tribune

September 12, 2024 Admin No Comments

ISLAMABAD: The International Monetary Fund (IMF) has confirmed that its Executive Board will meet on September 25 to discuss the approval of Pakistan’s $7 billion Extended Fund Facility (EFF). The loan is crucial for stabilising Pakistan’s economy, which has been grappling with rising inflation and dwindling reserves. IMF spokesperson Julie Kozack announced the meeting during…

Business

State Bank of Pakistan slashes policy rate by 200 BPS amid falling inflation | The Express Tribune

September 12, 2024 Admin No Comments

The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to falling…

Business

Big Drop Expected in Petrol Prices | The Express Tribune

September 12, 2024 Admin No Comments

A reduction in the prices of petroleum products is expected by the end of this week, owing to the drop in global oil prices. If confirmed, this would mark the third consecutive bi-weekly drop in prices of petroleum products. Petrol is expected to become cheaper by Rs12 per litre while the price of diesel is also…

Business

Turkmenistan to access Gwadar Port under CPEC | The Express Tribune

September 11, 2024 Admin No Comments

ISLAMABAD: Turkmenistan is set to become the first Central Asian country to access the Gwadar Port under China Pakistan Economic Corridor (CPEC) as both countries are about to ink an agreement in this regard. Pakistan and Turkmenistan are already venturing various joint projects, including TAPI pipeline, railway track and fibre connectivity to connect two regions…

Business