Business News
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PSX hits new high, crosses 63,500 points | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) hit a new all-time high of over 63,500 points before mid-day on Wednesday, as the return of foreign investors to the local bourse provided confidence for local investors to continue buying stocks. PSX benchmark KSE-100 Index rose to a new high at 63,611.50 points, increasing by 1pc, or…
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Taxman cracks down hard on non-filers | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has launched a major crackdown on tax evaders, issuing notices to 800,000 individuals identified as having taxable income but failing to file tax returns. This proactive move comes after a briefing to a visiting technical team of the International Monetary Fund (IMF) that the implementation of the…
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Govt asked to slow down work on ML-I financing deal | The Express Tribune
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[ad_1] ISLAMABAD: The Economic Affairs Division (EAD) has advised the government to go slow in finalising a financing agreement for nearly $6 billion in Chinese loan for the Mainline-I (ML-I) project of the China-Pakistan Economic Corridor (CPEC) aimed at avoiding complications in the implementation of the mega scheme. The advice came amid serious objections raised…
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More than Rs3 per unit increase in power price approved
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[ad_1] Electricity meters under a transformer in Faisalabad, on September 2023. — APP ISLAMABAD: A Rs3.07 per unit increase in electricity prices has been approved, applicable to all consumers of all power distribution companies, the National Electric Power Regulatory Authority (Nepra) said Tuesday. “The […] adjustment shall be shown separately in the consumers’ bills on…
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ECP gets over Rs17 billion in election funds
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[ad_1] A woman casts her vote in Pakistan’s general election at a polling station during the general election in Lahore, Pakistan, on July 25, 2018. — AFP ISLAMABAD: The federal government on Tuesday disbursed Rs17.4 billion to the Election Commission of Pakistan (ECP) only a day after the electoral body voiced concerns over the non-release…
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Bitcoin surpasses $41,000 mark – a record jump since April 2022
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[ad_1] A visual representation of the digital cryptocurrency Bitcoin. — AFP Financial markets saw a crazy ride on Monday. Gold made a dramatic swing after hitting a record high above $2,100 per ounce, while stocks and bonds fell. In contrast, Bitcoin held its ground in the realm of digital assets, surpassing $41,000 for the first…
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Gold surges to record highs before pulling back
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[ad_1] A trader displays gold bangles at a jeweller shop in this undated photo. — AFP file Gold prices increased dramatically on Monday, surging beyond expectations to reach an all-time high of $2,135.39 per ounce, beating the previous record of August 2020. The precious metal’s climb was rapid, leaping by more than 3% in Asian…
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UK raises required salary for skilled worker visa to £38,700 to curb migration
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[ad_1] James Cleverly, UK Home Secretary studied at the University of West London and began a career in publishing before drifting into Conservative politics around 2002. — AFP The United Kingdom (UK) is raising the required salary for a skilled worker visa to £38,700 which is a third more than the current level of slightly…
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PSX eyes 32% growth by Dec 2024 | The Express Tribune
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[ad_1] KARACHI: Taking cues from political stability and economic turnaround, the Pakistan Stock Exchange (PSX) is projected to grow by 32% over the next 13-months, reaching 81,000 points in December 2024. In its annual report titled ‘Pakistan Strategy 2024 – Targeting 81,000; Resilience and Redefined,’ Arif Habib Limited stated that robust earnings growth reported by…
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90% Sindh-Balochistan industries shut down | The Express Tribune
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[ad_1] KARACHI: Industrialists have claimed that almost 90% of industries in Karachi and other industrial zones of Sindh and Balochistan remained closed on Monday to protest against higher gas tariffs. “Almost 90% of industries in all seven industrial zones of Karachi, along with other trade bodies and industrial zones of Sindh and Balochistan, including Lasbela…
