Business News
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IMF engagement boosts Pakistan’s macroeconomic conditions: SBP
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[ad_1] A brass plaque of the State Bank of Pakistan is seen outside of its wall in Karachi, Pakistan December 5, 2018. — Reuters Pakistan’s macroeconomic conditions saw improvement in the fiscal year 2023-24, driven by several factors, including effective collaboration with the International Monetary Fund (IMF). In its Annual Report on the State of…
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PSX scales new peak as SCO summit success boosts sentiment
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[ad_1] A trader monitors electronic trading board on the floor of Pakistan Stock Exchange. — Reuters/File Stocks scaled a new peak on Wednesday, boosted by the smooth sailing of the Shanghai Cooperation Organisation (SCO) summit, lifting investor confidence and sparking hopes for regional, political, and economic stability, further fueling the ongoing earnings season rally. The…
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Boeing jetsam: Aerospace giant to issue thousands of layoff notices next month
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[ad_1] Boeing factory workers and supporters gather on a picket line near the entrance to a Boeing production facility in Renton, Washington, US on October 11, 2024. — Reuters Global aerospace company Boeing will start issuing 60-day notices to thousands of workers including many in its commercial aviation division, said a source familiar with the…
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FBR once again extends deadline for filing income tax returns
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[ad_1] An undated image of the Federal Board of Revenue (FBR) building in Islamabad. — APP ISLAMABAD: The Federal Board of Revenue (FBR) has once again announced an extension of the deadline for submitting income tax returns to October 31. “In exercise of the powers conferred under Section 214A of the Income Tax Ordinance, 2001,…
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Saudi Arabia’s AlBaik expected to launch in Pakistan
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[ad_1] This undated photo shows an outlet of Saudi Arabia’s AlBaik Food System Company. — AlBaik website/File Popular Saudi food chain “AlBaik Food System Company” might be opening in Pakistan as a memorandum of understanding (MoU) has been signed between the company and Gas and Oil Pakistan Ltd (Go) under the Saudi Ministry of Investment.…
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Boeing to cut 17,000 jobs amid ongoing employees’ strike
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[ad_1] A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. — Reuters Renowned planemaker Boeing has said that it would lay off 17,000 employees — 10% of its global workforce — and will lay the first deliveries of its 777X jet by…
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Sindh CM rejects reports of IMF’s concerns on NFC award
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[ad_1] Sindh Chief Minister, Syed Murad Ali Shah addresses a press conference at CM House in Karachi in this undated photo. — PPI/File Sindh Chief Minister Syed Murad Ali Shah on Friday categorically denied media reports suggesting the International Monetary Fund’s expressed concerns over the National Finance Commission (NFC) Award or the 18th Amendment. He…
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Electricity tariff cut on the horizon as contracts ended with five IPPs
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[ad_1] Energy Minister Awais Leghari addresses press conference in Islamabad, October 10, 2024. — Radio Pakistan ISLAMABAD: The federal government is aiming to cut the electricity tariff by up to Rs10 after the termination of power purchase agreement with five independent power producers (IPPs) which it believes would save the national exchequer Rs411 billion. “We…
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Different sectors involved in sales tax evasion worth Rs3.4 trillion: Aurangzeb
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[ad_1] Finance Minister Senator Muhammad Aurangzeb (left) and FBR Chairman Rashid Mahmood Langrial address a press conference to brief FBR study regarding sales tax evasion in Islamabad on October 10, 2024. — PID Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday highlighted a massive sales tax evasion worth Rs3.4 trillion out of…
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Government cancelling contracts with 5 IPPs, says PM Shehbaz
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[ad_1] Prime Minister Shehbaz Sharif addressing the federal cabinet in Islamabad, on October 9, 2024. — Screengrab/Geo News The federal government has decided to terminate its contract with five independent power producers (IPPs) in the first phase, Prime Minister Shehbaz Sharif said on Thursday, vowing to provide relief to inflation-ridden masses. The premier said that the…
