Business

IMF trims its 2023 global growth outlook, cites impact of higher interest rates

Low activity in currency market supports rupee’s appreciation

Pak Suzuki plant to also remain shut for additional 24 days

Smaller LNG importers such as Pakistan recorded higher arrivals in March

Insist circular for prompt remittance of proceeds should be withdrawn

Used cars up to 1800cc to get major relief with 100% regulatory duties being dropped

Lower-income country debt payments will hit 25-year peak in 2023

Proposes four solutions to tackle economic crisis

Crosses $4.36 million in first two months of 2023 from $3.21 million in 2022

Portfolio manager for emerging markets says debt crunch looms for weaker economies

SBPV demands staff be protected in open letter

Power producers told to lift fuel oil stocks from refineries for next 4 months

Currency’s free fall lifts gold price to all-time high

Struggles with 66% YoY slump due to scarcity of raw material, LC issues

Its global PC shipments fell 29% in Q1 2023

Move comes despite pledge to cut output by 500k barrels per day from May

Transmission line will have initial capacity of 100,000 tonnes per year

Analysts pointed out that the currency market still harboured doubts about the resumption of IMF programme

Invests $400 million to become a majority shareholder alongside Uber

Annual growth rate of 9.77% is expected from 2023-2027

Overseas Pakistanis send funds for Ramazan, rupee depreciates

Govt makes decision owing to very low foreign currency reserves

Rate hike worries balanced prospect of tighter supplies

Ministry denies reports Hamed Sheikh goes on leave

Govt’s borrowing from banks has increased significantly in recent years

It sparks industry-wide panic that can lead to financial crisis, deepen recession

Khushhali Bank looks forward to continuing to positively impact clients’ lives, their communities

A guide for beginners to initiate investments through Systematic Investment Plans

Merely making big statements, staging photo-ops will not suffice anymore

Investors have pulled out of saving schemes to deposit funds in banks

Said it lodged lawsuits against Apple, app developers

In a letter, FPCCI presses central bank to call emergency meeting to find solution

Says allegations of exporters hoarding money abroad are entirely false

Country’s annual import of edible oil stands at a staggering $4 billion

KSE-100 index edges up by 49 points, or 0.12%, at 40,050

Oil refineries waiting for three years for approval of new policy

Investment had dropped to $110m in Jan, but rose to $125m in Feb, $155m in March

A 4.13% increased rate of return to make saving schemes lucrative and mobilise investment from the general public

Ample supplies, subdued demand contribute to drop

Total capitalisation of new firms stands at Rs1.8 billion

Source confirmed that application was an LLM targeted at business users

Russia threatened to bypass UN-brokered deal unless obstacles to agri-exports removed

Also exempts Polish energy firm from relinquishing 10% licence area

Average per month increase during Jul-Feb FY22-23 was Rs52.4 billion

90% of businesses surveyed believe country is headed in the wrong direction

44.49% hike witnessed on year-on-year basis

Cites deepening political uncertainty, developing judicial crisis in country as reasons

Bond yields steady as investors digest weak labour data

Minister of planning says CPEC must for Pakistan’s economic growth, regional connectivity

Also sought extension of 5-year government facility, ending on June 30, to pay interest costs