Business News
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China unveils $1.4tr local debt package but no direct stimulus
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[ad_1] A building housing the PricewaterhouseCoopers (PWC) branch office stands behind a Chinese national flag in Beijing January 24, 2014. — Reuters BEIJING: China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday to ease local government financing…
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Govt announces Rs26 per unit relief for extra winter power usage
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[ad_1] A general view of the high voltage lines during a nationwide power outage in Rawalpindi on January 23, 2023. — AFP The federal government on Friday unveiled the “Bijli Sahulat Package” for three months — December 2024 to February…
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Rate cut rally resumes to push PSX above 93,000 mark in day trading
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[ad_1] Brokers at the PSX look at the electronic board in this undated image. — Reuters Stocks surged to a record intraday high above the 93,000-point mark on Friday, as a multi-session rally, spurred by the recent policy rate cut…
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October remittances jump 24% year-on-year to $3.05bn
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[ad_1] A money dealer counts US dollars at currency exchange. — AFP/File Overseas workers’ remittances swelled 23.9% to $3.1 billion in October 2024 from $2.46 billion recorded in the same month last year, data released by the State Bank of Pakistan…
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Bank of England cuts interest rate as inflation slows
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[ad_1] A pedestrian crosses the streets in front of The Bank of England illuminated by a ray of sunlight, in central London, on February 12, 2024. — AFP The Bank of England on Thursday said it was cutting its key…
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PTI claims govt unable to meet IMF targets amid ‘mini-budget’ talk
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[ad_1] PTI leader and Opposition Leader in the National Assembly Omar Ayub Khan. — APP/File PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) politician Omar Ayub on Thursday accused the government of failing to meet the goals set by the International Monetary Fund (IMF)…
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SBP: Banks to remain closed on Nov 9
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[ad_1] An undated image of a State Bank of Pakistan building. — SBP Website/File KARACHI: The State Bank of Pakistan (SBP) has announced that all the banks will remain shut on November 9 owing to the birth anniversary of Dr…
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Firm dollar keeps peers on back foot ahead of BOE, Fed decisions
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[ad_1] A representational image showing a person counting US dollar notes. — AFP/File TOKYO: The dollar hovered off a four-month high on Thursday as the market continued to digest Republican Donald Trump’s win in the US presidential election, while investors…
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Nepra cuts September’s power tariff by Rs1.28 under FCA
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[ad_1] The National Electric Power Regulatory Authority (Nepra) headquarters can be seen. — Facebook/NEPRA/file The National Electric Power Regulatory Authority (NEPRA) has given go-ahead to a Rs1.28 per unit reduction in electricity prices for September 2024 under the Fuel Charges…
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FinMin aims for ‘Single B’ credit rating, warns of economic strain from population boom
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[ad_1] Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb addresses the 8th Edition of The Future Summit, discussing Pakistan’s economic prospects and future financial strategies on Wednesday. — APP Pakistan’s rapidly increasing population has already exploded as an economic…
