ISLAMABAD – The government’s pledge to slash energy tariffs was met with a harsh jolt when the global lender IMF rejected Islamabad’s plan to reduce sales tax. The Ministry of Energy has proposed to the government a reduction in sales tax. And the administration submitted a request to the IMF,Continue Reading
ACCRA (Reuters) – Ghana’s consumer inflation increased for the fourth consecutive month in December, to 23.8% year on year from 23.0% in November, according to the statistics agency on Wednesday. At a press conference, government statistician Samuel Kobina Annim stated that the most recent increase was caused by rising foodContinue Reading
Karachi : (Web Desk )According to a project director at the firm, Karachi-based Dewan Farooque Motors Limited, a Pakistani car importer and manufacturer, would build Chinese electric trucks domestically. The vehicle’s introduction is planned for the first quarter of next year. With the intention of having 30% of all passengerContinue Reading
Istanbul (AFP): In an effort to combat double-digit inflation, Turkey’s central bank reduced its main interest rate on Thursday for the first time in over two years. Citing improvements in “inflation expectations and pricing behavior,” the bank’s monetary policy committee voted to lower the target rate from 50% to 47.5%.Continue Reading
LAHORE Inflation has gotten out of control, with prices for a variety of crops, including onions and tomatoes, rising dramatically. According to the market committee’s statistics report, the price of onions has increased by 10 rupees per kilogram, bringing the official rate to 120 rupees per kilogram. Onions can costContinue Reading
NEW YORK: Wednesday saw a general increase in Asian stocks as a result of the Bank of Japan’s decision to hike its benchmark interest rate. Later in the day, the Federal Reserve and Bank of England were expected to make policy decisions. The move by the central bank to raiseContinue Reading
ISLAMABAD – The federal government announced on Wednesday a considerable fall in petroleum prices for the first two weeks of August 2024. According to a statement released by the Ministry of Finance, prices were decreased after Prime Minister Shehbaz Sharif approved them. The revised prices will go into effect onContinue Reading
ISLAMABAD – Prime Minister Shehbaz Sharif has asked power distribution firms to extend the payment deadline for electricity bills by ten days. According to a statement from the Power Division, the due date for paying power bills in July and August 2024 will be extended by ten days. According toContinue Reading
(Web Desk) – McDonald’s announced an unexpected drop in global sales on Monday, its first decline in 13 quarters, as bargain-hunting customers avoid higher-priced menu items such as Big Macs. Persistent inflation has compelled lower-income consumers to seek for more cheap food options at home. As a result, fast foodContinue Reading
(Reuters) – Philips posted second-quarter results that above analysts’ forecasts on Monday, driven by cost savings from job cutbacks and insurance income related to Respironics product liability claims, pushing company shares up more than 7% in early trading. The Dutch medical device maker’s earnings before interest, tax, and amortization (EBITA)Continue Reading
