Business News
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China’s Russian oil imports rise in April | The Express Tribune
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[ad_1] SINGAPORE/BEIJING: China’s crude oil imports from Russia rose 8.6% in April from a year earlier, as larger private refiners also embarked on purchases of the discounted fuel. Arrivals from Russia, including seaborne shipments and supplies via pipelines totalled 7.1…
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Gold rate rises to Rs235,300 per tola
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[ad_1] Gold bangles are displayed at a jewellery store in this undated file photo. — AFP As the yellow metal gained in the international market, gold price once again rose in Pakistan Saturday. The rate of gold (24 carats) rose…
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Only 10% IT graduates employable: SBP | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has raised concerns over Pakistan’s information technology (IT) sector, revealing that a mere 10 % of IT graduates possess the necessary skills to secure employment in the industry. The SBP’s half-year report…
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Rupee continues to slide as FX reserves decline | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency faced further depreciation for the third consecutive working day, with the rupee sliding by 0.07% or Rs0.20 against the US dollar in the interbank market, reaching Rs285.82 on Friday. This decline comes as a result…
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Govt to pass on petrol price cut benefit to people
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[ad_1] Prime Minister Shehbaz Sharif chairs a meeting of the federal cabinet on May 19, 2023. — PID The federal government on Friday decided to pass on the benefit of recent reduction in the prices of petroleum products to the…
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Gold rate sees minor decline in Pakistan as international price drops
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[ad_1] Gold bars are seen in this undated file photo. — AFP The domestic gold price fell Friday after a decline in the international market as optimism rose about a US debt limit deal that would prevent one of the…
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‘Rupee may slump to 350 per dollar in June’
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[ad_1] An undated image of Rs1,000 note and Rs5 coins. — AFP/File As the rupee continues to explore new records against the US dollar, stakeholders are now concerned about the maximum that the local unit will fall before holding its…
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SBP-held foreign exchange reserves fall for third consecutive week
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[ad_1] A person holds $100 notes in their hand. — AFP/File State Bank of Pakistan (SBP)-held foreign exchange reserves fell for the third straight week due to external debt payment as the South Asian nation fails to acquire external financing…
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Refineries warn of shutdown, seek incentives | The Express Tribune
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[ad_1] ISLAMABAD: Oil refineries have warned that they will shut down plants in the absence of a new refinery policy as they are suffering huge losses from furnace oil exports. Smuggled Iranian oil has pushed down demand for the locally…
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Rupee hits new 1-week low as downtick continues | The Express Tribune
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[ad_1] KARACHI: Taking cue from the open market, Pakistani rupee maintained its downtick in the inter-bank market for the second consecutive day on Thursday, dropping 0.08%, or Rs0.22, to a new one-week low at Rs285.62 against the US dollar. The…
