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Bad start for auto sales in July

KARACHI: The first month of fiscal year 2022-23 (1MFY23) for the entire auto industry began on a negative note, led by a 64.6 per cent drop in Jeep and pickup sales compared to July 2021, due to a significant slowdown in sales. Massive price increases, tightening auto finance, longer Eidul …

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Ukraine in default according to Fitch and S&P

Global rating agencies S&P and Fitch on Friday lowered Ukraine’s foreign currency ratings to selective default and restricted default as they consider the country’s debt restructuring as distressed. Earlier this week, Ukraine’s overseas creditors backed the country’s request for a two-year freeze on payments on almost $20 billion in international …

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Discos allowed Rs9.9 tariff hike for June

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday notified ex-Wapda distribution companies (Discos) to charge Rs9.90 per unit additional fuel cost adjustment (FCA) on electricity they sold in June to collect an extra Rs132 billion during August. The regulator said in a notification that it “has reviewed and …

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