Business News
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Miftah claims IMF ‘not interested’ in releasing loan tranche to Pakistan
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[ad_1] An undated image of former finance minister and Pakistan Muslim League-Nawaz (PML-N) leader Miftah Ismail. — Twitter/@PMLN_org Amid rising tensions regarding the revival of the International Monetary Fund (IMF) programme, former finance minister Miftah Ismail on Wednesday said that the Washington-based lender is “not interested” in giving money to the cash-strapped nation. Speaking during a session…
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Further rate hike unlikely to control inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy has slowed down significantly partly due to a persistent hike in the key policy rate to a record high at 20%. The rate hike has lately become “ineffective” and a further rise will only aggravate the economic woes. The policy rate is a tool available with the central bank to control…
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UBS buys back bonds | The Express Tribune
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[ad_1] BENGALURU: UBS Group said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it sold just days ago in a bid to boost confidence among bondholders rattled by its $3 billion rescue of rival Credit Suisse. The bonds were sold on March 9 and their repurchase by UBS highlights…
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What will be the bank timings in Ramadan?
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[ad_1] An undated image of the State Bank of Pakistan building. — AFP/File The State Bank of Pakistan on Wednesday announced the timings to be observed by banks during the holy month of Ramadan. The time has been updated for both public dealing and office timings, a notification issued by the SBP read. Public dealing…
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Gold price falls by Rs2,300 per tola
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[ad_1] An undated image of a jewellery store. — AFP/File For the third straight session, the rate of gold fell in Pakistan on Wednesday as the rupee gained ground against the dollar, prompting investors to shift their focus. The price of gold (24 carats) plunged by Rs2,300 per tola and Rs1,971 per 10 grams to…
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‘Strong IPR system required for economic growth’ | The Express Tribune
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[ad_1] KARACHI: Karachi business leaders are advocating for a strong intellectual property rights (IPR) system in Pakistan, supported by technology, to harness the country’s resources and expand its wealth. President of the Karachi Chamber of Commerce and Industry (KCCI), Mohammed Tariq Yousuf, welcomed Chairman of the Intellectual Property Organisation (IPO), Farrukh Amil, stating that due…
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Tax incentives demanded | The Express Tribune
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[ad_1] LAHORE: Pakistan’s women entrepreneurs have unanimously called for a separate entrepreneurship policy for women in the country. The demand came up at an online consultative session arranged by SMEDA, and was attended by female entrepreneurs from across the country. The entrepreneurs complained that women have no special tax incentives and that they bear a…
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Gold rate sees massive decline in Pakistan
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[ad_1] An undated image of a goldsmith showing a gold ornament to a customer. — AFP/File Gold extended losses into a second session on Tuesday, closing slightly above the threshold of Rs204,000 per tola in line with price movement in the international market. The price of gold (24 carats) fell by Rs3,100 per tola and…
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Banks to remain closed on March 24
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[ad_1] A representational image of the State Bank of Pakistan (SBP) museaum building. — Facebook/AFP KARACHI: All commercial banks as well as the State Bank of Pakistan (SBP) will remain closed for public dealing on March 24. “The State Bank of Pakistan will remain closed for public dealing on Friday, March 24, 2023, which shall…
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‘Substantial progress’ by Pakistan toward loan programme: IMF | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) said that Pakistan has made “substantial progress” toward meeting policy commitments needed to unlock loans the country needs to avoid default, Bloomberg News reported on Monday. The international lender said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting…
