Business News
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IMF assured of $8b external payments | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has provided the International Monetary Fund (IMF) with a financing plan for external payments, in which Islamabad has informed the global lender that it will arrange $8 billion for the purpose instead of $6 billion. According to sources in the finance ministry, the IMF had asked Pakistan for assurances of $6 billion…
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AIIB internal review throws out CCP’s control allegations
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[ad_1] A man walks past the logo of the Asian Infrastructure Investment Bank (AIIB) at the headquarters in Beijing on June 15, 2023. — AFP An internal review of the Asian Infrastructure Investment Bank (AIIB) dismissed the claims of a former employee alleging that the Chinese Communist Party (CCP) had control over the bank. Last…
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IMF team meets Imran Khan to ‘seek assurance on bailout package’
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[ad_1] International Monetary Fund (IMF) building in Washington DC. — AFP/File In a bid to seek assurance and support for the key objectives and policies under the recently announced $3 billion bailout programme, a delegation of the International Monetary Fund (IMF) called on Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan in Lahore on Friday — days…
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World food prices fall to lowest in 2 years | The Express Tribune
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[ad_1] ROME: The United Nations food agency’s world price index fell in June to its lowest level in more than two years, pushed down by a drop in the cost of sugar, vegetable oils, cereals and dairy products. The Food and Agriculture Organisation’s (FAO) price index, which tracks the most globally traded food commodities, averaged…
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Fertiliser sector shifts impact of duties, taxes | The Express Tribune
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[ad_1] KARACHI: The fertiliser sector has shifted the weight of duties and taxes onto consumers by raising prices of urea and di-ammonium phosphate (DAP). In the Finance Bill 2023, the fertiliser sector has faced the imposition of taxes and duties, which have now been passed on to consumers. Federal excise duty (FED) was set at…
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Bailout package: IMF team to meet Imran Khan today, says Hammad Azhar
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[ad_1] The headquarters of the International Monetary Fund (IMF) in Washington. — AFP/File Former federal minister for economic affairs Hammad Azhar announced Friday that a team from the International Monetary Fund (IMF) was set to meet with Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan today. Taking to Twitter, the PTI leader wrote: “PTI’s economic team…
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Gold price in Pakistan gains Rs1,800 per tola
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[ad_1] The picture shows a piece of gold in a hand. — AFP/File KARACHI: For the second day, the prices of gold made minor gains despite the depreciation in the internal market on Thursday. The gold price (24 carats) increased by Rs1,800 per tola and Rs1,543 per 10 grams to settle at Rs207,800 and Rs178,155,…
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Foreign exchange reserves rise to $4.4b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) saw a significant surge of 9.6% on a week-on-week basis, as reported by data released by the SBP on Thursday. As of June 30, the SBP’s foreign currency reserves reached $4.4 billion, recording an increase of $393 million compared to $4.06…
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Two new blocks awarded for oil, gas search | The Express Tribune
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[ad_1] KARACHI: The government has provisionally awarded two new blocks to a leading state-owned oil and gas exploration firm in an effort to find fresh large hydrocarbon deposits and reduce reliance on energy imports. Oil and Gas Development Company Limited (OGDCL) reported to the Pakistan Stock Exchange (PSX) that the government had provisionally awarded it…
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722 companies make ‘obsecene’ windfall profits of $1tn
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[ad_1] The Ishpingo oil platform of state-owned Petroecuador in Yasuni National Park in Ecuador on June 21, 2023. — AFP Seven hundred and twenty-two of the biggest companies are making windfall profits of more than $1 trillion a year (£780 billion), despite the rising cost of living and inflation globally. Citing research by development…
