Business News
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Debt burden surges to record high of Rs81.2 trillion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities have peaked at Rs81.2 trillion – a figure that grew at a faster pace of over 27% during the past year, posing emergent management challenges to the newly elected government. The bulletin released by the State Bank of Pakistan (SBP) on Monday showed that the country’s total debt…
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PSX bleeds for second day; total post-poll losses top 3,000 points
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[ad_1] Stockbrokers monitor the latest share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on December 2, 2022. — APP KARACHI: The Pakistan Stock Exchange (PSX) was crushed by another panic-selling spree on Monday, posting its ninth-highest day-on-day (DoD) loss, as investors gasped for clarity on the country’s political and…
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Remittances rise slightly in January to $2.4bn
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[ad_1] A currency exchange agent counts US Dollars at his company in Iraq’s southern city of Basra, on December 8, 2023. — AFP KARACHI: Pakistan received $2.4 billion in remittances from its overseas workers in January, up by 0.6% from the previous month, said the State Bank of Pakistan (SBP) in a statement on Monday. “In terms of…
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Spectre of default haunts US banks | The Express Tribune
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[ad_1] KARACHI: The Covid-19 pandemic is almost gone, but it is still haunting the US real estate sector and its banking system. Large office buildings, vacated right after the outbreak of the deadly virus, are still empty as the work-from-home model has been increasingly adopted, causing hefty losses to owners of high rises and making…
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LPG cylinders: track and trace system | The Express Tribune
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[ad_1] ISLAMABAD: Liquefied petroleum gas (LPG) cylinder safety situation is not very good in Pakistan. Every year, there are many cylinder explosions, leading to deaths and injuries. Explosions occur usually during transport and users’ locations. There are two main reasons for cylinder explosions – low quality manufacturing using inappropriate material; and damage and wear and…
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A ‘boiling frog’ situation | The Express Tribune
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[ad_1] BRUSSELS: Pakistan’s Rs38.8 trillion domestic and Rs24.1 trillion external debt mountain is a “boiling frog” phenomenon for the economy as higher deficits and ballooning debt servicing costs are unsustainable. A boiling frog situation is one in which people fail to act on a potential problem that grows over time, causing it to become more…
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600 Pakistanis start overseas careers post-landmark agreements
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[ad_1] Group photo of Pakistani professionals ready to depart abroad on international careers in this undated photo taken from a video. — Facebook/JawadSohrabMalik First batch of 600 Pakistani professionals have departed abroad on international careers under the Pakistani government’s strategic employment agreements with global partners. This departure marks a “significant milestone” in the initiative led…
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Here is why Jeff Bezos has sold $2b Amazon shares
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[ad_1] Amazon founder Jeff Bezos in this undated photo.—AFP/file Amazon founder Jeff Bezos has reportedly sold approximately 12 million shares of the e-commerce and cloud services giant, totalling around $2billion, as disclosed in a company filing on Friday. The move comes shortly after Bezos outlined a plan to divest his shares over the next year.…
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Govt considers allowing urea price hike | The Express Tribune
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[ad_1] The Finance Division reiterated its stance that no additional subsidy would be provided on the supply of urea once the proposed mechanism of basket price is enforced. photo: file ISLAMABAD: The government is considering permitting fertiliser manufacturers to increase urea prices by up to Rs358 per bag, shifting the entire burden of over Rs30…
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S&P 500 earnings growth seen at 9% | The Express Tribune
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[ad_1] NEW YORK: With results in from about two-thirds of companies, fourth-quarter 2023 S&P 500, tab earnings growth is now seen at 9.0%, almost double a Jan 1 forecast for 4.7% growth, according to LSEG data on Friday. About 81% of reports are beating analysts’ expectations, compared with an average of 76% in the previous…
