Business News
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Gold sees highest single-day plunge in Pakistan
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[ad_1] An undated photograph of gold bullions. — AFP/File As the rupee slightly recovered against the US dollar, gold price in Pakistan on Tuesday registered its highest single-day drop. Investors also kept a close watch on the US Federal Reserve’s…
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Rupee gains ground, eases slightly from historic low
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[ad_1] Foreign currency dealer selling US dollar bills at a money exchange company in Karachi on January 10, 2023. — INP After falling against the US dollar for three consecutive sessions, the Pakistani rupee reversed the trend on Tuesday. The…
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BD secures $4.7b from IMF as Pakistan, Sri Lanka see delays | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble. The…
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IMF approves $4.7bn Bangladesh support package
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[ad_1] An undated image of the general view of the International Monetary Fund headquarters in Washington. — AFP DHAKA: The International Monetary Fund (IMF) has signed off on a $4.7 billion support loan package for Bangladesh to help it cope with…
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Pakistan braces for fuel shortages amid liquidity crisis | The Express Tribune
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[ad_1] KARACHI: Pakistan could face a crunch in fuel supplies in February as banks have stopped financing and facilitating payments for imports due to depleting foreign exchange reserves, traders and industry sources said. The country is facing a balance of…
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Rupee’s weakness ‘still has further to run’: Fitch Solutions
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[ad_1] People enter a money changer shop in the blue area in Islamabad on January 26, 2023. — Online, Fitch Solutions on Tuesday predicted that the rupee’s weakness still has “further to run”, which will have broader economic implications for…
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IMF instructs Pakistan to ‘strictly’ adhere to financial discipline
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[ad_1] Minister for Finance and Revenue Senator Ishaq Dar holds a meeting with the International Monetary Fund review mission led by Nathan Porter at Finance Division on January 31, 2023. — Twitter/@FinMinistryPak ISLAMABAD: The International Monetary Fund (IMF) Tuesday stressed…
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Gold soars to new life high of Rs210,500 per tola
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File Pakistan’s gold market opened the week on a whopping note to hit a new high Monday as the rupee bled more value on the…
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Power consumers brace for tariff rise | The Express Tribune
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[ad_1] ISLAMABAD: Electricity consumers are bracing for another shock as power tariff is likely to be increased following the free fall of Pakistani rupee against the US dollar in the past one week. However, the Pakistan Muslim League-Nawaz (PML-N) led…
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Rupee down in the dumps as dollar continues to flex muscles
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[ad_1] A dealer counts US dollars at a money exchange market in Karachi on January 26, 2023. — AFP/File The rupee continued its downward slide for the third consecutive day on Monday, losing Rs7.03 to a dollar or 2.61% to…
