Business News
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Gold shines brighter than ever as it sets fresh record
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[ad_1] A shopkeeper sets gold jewellery at his store in Rawalpindi in this undated file photo. — AFP The price of gold soared to another record high Thursday on the back of an increase in the international rate as well as the ongoing economic crisis. The rate of gold (24 carats) jumped by Rs2,600 per…
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‘India’s exports likely to touch $900 billion in 2023-2024’ | The Express Tribune
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[ad_1] NEW DELHI: India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds, a top official of a grouping of exporters said. Merchandise exports could expand to between $495 billion and $500 billion, while services exports could…
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Is US going to default on debt payments as White House warns of economic disaster?
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[ad_1] White House warns of economic disaster. AFP/File The White House has issued a warning about the potential consequences of the United States defaulting on its debt payments, as Democrats and Republicans continue to grapple over national spending. The president’s Council of Economic Advisers has cautioned that if the US government fails to meet its…
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IMF wants Pakistan to hike interest rates | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Wednesday said that Pakistan needed to further increase interest rates to stabilise inflation –- a policy advice that is not in line with the ground realities and has instead significantly increased the country’s debt burden. The global lender has released its regional economic outlook for the Middle…
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US Fed raises interest rates by a quarter-point
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[ad_1] The Federal Reserve building in Washington, DC, United States, October 22, 2021. — AFP WASHINGTON: The US Federal Reserve raised its benchmark lending rate for a tenth consecutive time Wednesday, while signaling an easing in its forward guidance on signs of an economic slowdown in the United States. The central bank had embarked on…
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SCO provides avenue to ramp up trade | The Express Tribune
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[ad_1] KARACHI: The government must make strenuous efforts to save Pakistan’s teetering economy and strengthen trade ties with the Shanghai Cooperation Organisation (SCO) to boost exports, suggest businessmen. “SCO, with a collective GDP (gross domestic product) of over $23.5 trillion and total trade of $8.03 trillion, presents a significant opportunity to Pakistan to increase its…
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Flour millers threaten to go on strike | The Express Tribune
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[ad_1] KARACHI: Pakistan Flour Mills Association (PFMA) has given a 24-hour deadline to the Sindh government, asking the provincial administration to lift the ban on purchase of wheat by Karachi millers. In case its demand is not met by Wednesday evening, the association threatened that they would go on a shutter-down strike. Speaking at a…
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Pakistan taking measures for ‘swift’ economic stabilisation: ADB
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[ad_1] Staff members of the Asian Development Bank step out of the Manila-based lender’s headquarters on February 17, 2009. — AFP/File Asian Development Bank (ADB) President Masatsugu Asakawa said Tuesday that Pakistan was taking ‘quick’ required stabilisation measures by containing spending, enhancing tax revenues and improving the financial sustainability of the energy sector. Addressing a…
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Ishaq Dar dispels ‘untrue’ reports about decline in petrol price
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP Finance Minister Ishaq Dar on Tuesday said that the Oil and Gas Regulatory Authority (Ogra) did not recommend a decrease in the price of petrol, terming the reports as “baseless and untrue”. “Some reports have been circulating…
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Gold, silver jump to new all-time high
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[ad_1] A salesperson displays gold jewellery at a store in this undated file photo. — AFP As the country continues to go through one of its worst economic crises and inflation surged to unprecedented levels, people flocked to buy gold, propelling the precious metal’s value to a new all-time high. The price of gold (24…
