Business News
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Agri sector can wipe out CAD in 6 years | The Express Tribune
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[ad_1] KARACHI: Pakistan’s agriculture sector has the potential to overcome the current account deficit and balance-of-payment crisis within six years, according to State Bank of Pakistan (SBP) Former Governor Salim Raza. Speaking at ‘Agri Connections 2023’, organised by the Pakistan Agricultural Coalition (PAC) on Thursday, Raza noted that the agriculture sector must sustainably grow at…
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US to launch $4.5m project for effective use of fertiliser | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the United States have decided that the US Department of Agriculture will launch Fertiliser Right programme this year in Pakistan, a four-year, $4.5 million project with local partners to help farmers use fertiliser more efficiently and effectively, reducing environmental pollution and lowering cost. The understanding was reached in meetings of the…
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Documentation of second disbursement from Chinese ICBC completed: Dar
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[ad_1] An undated image of Federal Minister for Finance and Revenue Senator Ishaq Dar speaking to the media. — PID Federal Minister for Finance and Revenue Ishaq Dar on Thursday revealed that documentation for the second disbursement worth $500 million from the Industrial and Commercial Bank of China (ICBC) has been completed. Earlier this month, the…
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SBP-held forex reserves rise to $4.3bn after a meagre increase
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[ad_1] An undated image of a person holding a $100 stack. — AFP/File The State Bank of Pakistan (SBP)-held foreign exchange reserves maintained their uptrend for the second consecutive session, managing to stay above the $4 billion mark. The reserves slightly rose above $18 million, however, the amount is still barely enough to cover one…
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Gold price surges by Rs1,100 per tola in Pakistan
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[ad_1] An undated image of gold bars. — AFP/File Gold prices in Pakistan continued to extend gains on Thursday as the per-tola rate rose by over Rs1,000 in line with the international market as rising inflation boosts its appeal. According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats)…
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Forex reserves rise to $4.31b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank rose by 0.4% on a week-on-week basis to $4.3 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 10, 2023, the SBP’s foreign currency reserves stood at $4,319.1 million, up by $18 million compared to $4,301 million…
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Swiss banking sector in turmoil as Credit Suisse continues to face woes
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[ad_1] Credit Suisse shares plunged Wednesday after already suffering heavy falls following the collapse of two US banks. AFP/File ZURICH: Credit Suisse shares went into free fall Wednesday, as the banking giant battered by a series of scandals, was seen as the “weakest link” in the Swiss banking sector. Here is an overview of the…
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US to help restore power infrastructure in Sindh | The Express Tribune
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[ad_1] ISLAMABAD: The United States has announced new programmes for advancing energy cooperation with Pakistan, which include a $500,000 project to restore electricity infrastructure in flood-stricken areas in Sindh. Other initiatives include a grant to augment research and development work on electric vehicles at Lahore University of Management Sciences (LUMS) and support for the second…
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UK budget: Finance Minister Jeremy Hunt unveils new free childcare policy
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[ad_1] Britain’s Chancellor of the Exchequer Jeremy Hunt poses with the red Budget Box as he leaves 11 Downing Street in central London on March 15, 2023, to present the government´s annual budget to Parliament. — AFP LONDON: UK finance minister Jeremy Hunt announced Wednesday that most working parents in England will be offered 30…
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Govt jacks up petrol price by Rs5 | The Express Tribune
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[ad_1] ISLAMABAD: Owing to the increase in oil prices in the international market and depreciation of the Pakistani rupee, the federal government on Wednesday raised the price of petrol by Rs5 per litre effective immediately. “In the last fortnight, Platts Singapore prices registered an increase. This along with a depreciation of Pak Rupee has resulted in…
