Business News
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Petrol price drops in Pakistan for next fortnight
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[ad_1] A fuel station attendant filling up a car at a petrol station. — AFP/File ISLAMABAD: In a relief to the inflation-struck masses, the caretaker government dropped the price of petrol by Rs2.04 per litre for the next fortnight. In a statement on Wednesday, the Ministry of Finance said the government revised the fuel prices…
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Pakistan wins initial IMF approval to unlock $700m tranche under SBA
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[ad_1] International Monetary Fund (IMF) building in Washington DC. — AFP/File In a positive development, Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement on the first review under a Stand-By Arrangement (SBA), subject to approval by the Executive Board of the global lender. Upon approval, Pakistan will have access to $700…
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Troubled LSM industry records modest growth | The Express Tribune
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[ad_1] ISLAMABAD: The output of big industries marginally increased by less than 1% during the first quarter of this fiscal year, as the industrial sector continuously suffered from high-interest rates and overall unfavourable business conditions. The Pakistan Bureau of Statistics (PBS) on Wednesday released figures for Large-Scale Manufacturing (LSM) industries that also showed that the…
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Govt reduces petrol price by Rs2.04, HSD by Rs6.47 per litre | The Express Tribune
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[ad_1] The federal caretaker government has reduced the prices of petroleum products on Wednesday, providing much-needed relief to the people who have borne the brunt of a challenging economic crisis since mid-2022. According to a notification issued by the Finance Division, the price of petrol has been reduced by Rs2.04 whereas the tariff of high-speed…
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Pakistan set to receive $700m from IMF after bailout review | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Wednesday announced a staff-level agreement with Pakistan on the completion of the first review of the $3 billion bailout package after Islamabad assured it of refraining from intervening in the currency market and continuing on the path of fiscal consolidation. In a statement issued after the end…
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IMF chief says deal with Pakistan on review likely this week
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[ad_1] Managing Director of the IMF Kristalina Georgieva attends the annual meetings of the IMF and the World Bank Group (WBG), in Marrakesh on October 12, 2023. — AFP International Monetary Fund (IMF) Managing Director Kristalina Georgieva was hopeful of reaching a deal with Pakistan soon on the first review of the $3 billion stand-by arrangement.…
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Why Finland’s economy shrank by 0.9% in third quarter?
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[ad_1] Finnish and Nato flags flutter at the courtyard of the Foreign Ministry in Helsinki, Finland, ahead of accession to Nato on April 4. — AFP Preliminary data released on Tuesday by Statistics Finland indicated that the GDP of the country decreased in the third quarter following two quarters of growth in a consecutive time.…
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In a first, Iconic 1962 Ferrari fetches record $51.7m at auction
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[ad_1] Iconic 1962 Ferrari. — Sotheby’s An iconic 1962 Ferrari was auctioned for a record $51.7 million (£42 million) in New York, making it the most expensive Ferrari ever sold at an auction, Sky News reported. The jet red 330 LM/250 GTO model is now the most costly Ferrari and the second highest-priced vehicle to be…
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7th edition of ‘The Future Summit’ set to commence in Karachi on Nov 15
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[ad_1] The Future Summit’s seventh edition is to be held in Karachi from November 15 to November 16. — YouTube/@NutshellGroup The seventh edition of “The Future Summit” will take place in Karachi from November 15 to November 16. The seventh edition of the summit will feature discussions and keynotes that will reveal insights into emerging…
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Businessmen call for SIFC-CPEC collaboration | The Express Tribune
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[ad_1] In a resounding endorsement, business leaders and market analysts are hailing the recently established Special Investment Facilitation Council (SIFC) as a crucial necessity during these challenging times. “The SIFC is a necessity of the time as it includes all local stakeholders, such as the civil-military forum, trade bodies, businesspeople, bureaucrats, politicians, and others. It…
