Business News
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Stocks climb to new record above 68k | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Thursday continued its record-setting rally as it surged above 68,000 points over investors’ growing interest in pharmaceutical stocks following court’s verdict in favour of the industry, and a robust corporate earnings outlook. While continuing the previous day’s bullish momentum, the trading session began with a spike. However, the…
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Engro Energy sells thermal assets | The Express Tribune
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[ad_1] LAHORE: Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, has entered into a Share Purchase Agreement with Liberty Power Holding (Pvt) Limited and a consortium for the sale of its thermal energy assets portfolio. The consortium comprises Liberty Mills Limited, Soorty Enterprises, and Procon Engineering through Master Group of Industries. The…
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Refineries demand full recovery of forex losses | The Express Tribune
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[ad_1] ISLAMABAD: Oil refineries have called on the government to make full recovery of the actual currency exchange losses and the confirmation cost of Letters of Credit (LCs). Pakistan’s oil refineries are currently grappling with substantial currency exchange losses in the import of crude oil, compounded by a significant financial burden from the LC confirmation…
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Gold hits record high amid global turbulence | The Express Tribune
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[ad_1] KARACHI: Gold reached a new all-time high at Rs241,100 per tola (11.66 grams) in Pakistan on Thursday, marking a historic moment in line with the global record-breaking trend. Meanwhile, the rupee remained stable near its recent five-and-a-half-month high at Rs277.83 against the US dollar in the interbank market throughout the day. In the global…
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Saudi mega futuristic project Neom attracting foreigners
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[ad_1] Foreigners keen to invest in Saudi Crown Prince MBS’s futuristic city, Neom. — Facebook/Neom Saudi Crown Prince MBS’s dream project, ‘The Line’, is still a work in progress, but it has already caught the eye of many foreigners. They are not just watching from the sidelines; they are eager to call it home. Global…
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Cement sector sends PSX to record | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Wednesday soared to a new record high as it crossed the 67,700-point barrier with a surge of more than 850 points on the back of investor enthusiasm about the potential policy rate cut and strong cement sales. The stock market followed an upward trajectory right after the commencement…
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Govt shows interest in competitive tariffs | The Express Tribune
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[ad_1] ISLAMABAD: Minister of Power Sardar Awais Ahmad Khan Leghari has assured textile millers that the government will provide support to the sector in its growth efforts as well as address its concerns. Talking to a delegation of the All Pakistan Textile Mills Association (Aptma), the minister emphasised the government’s unwavering commitment to providing substantial…
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NLC facilitates trade route to Tajikistan | The Express Tribune
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[ad_1] ISLAMABAD: The National Logistics Corporation (NLC) has achieved another major milestone in enhancing the country’s regional trade with the Central Asian state of Tajikistan by successfully transporting a Pakistani potato export consignment to Dushanbe. The NLC has effectively expanded its trade access with another key Central Asian country, with a convoy of NLC trucks…
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PSX soars to new high of 67,756 points fuelled by cyclic sector
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[ad_1] A broker looks at an index board showing the latest share prices at the Pakistan Stock Exchange in Karachi. — AFP/File Pakistan’s stock market scaled a new peak on Wednesday as majority of investors cheered the government’s privatisation push amid hopes of a rate cut especially after signs that inflation was finally cooling down,…
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Is Tesla headed to dire straits? Analyst warns of ‘darker days’
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[ad_1] Tesla faces ‘seminal moment’ as analysts predict hard times ahead. — AFP/LinkedIn Tesla, the electric carmaker led by billionaire Elon Musk, is facing a critical moment currently, according to an analyst. The company’s first quarter was a disaster at the share market as its stock sank, according to Business Insider. The electric carmaker’s deliveries…
