Business News
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Bears take centre stage, erase 1,089 points | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) witnessed a roller-coaster trading week as a combination of buying interest and selling pressure made the benchmark index swing on both sides, but eventually the bears prevailed. The KSE-100 index dived 1,089 points to close the week at 41,052 points. The week commenced on a negative note as…
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250 vocational institutes to be set up, upgraded | The Express Tribune
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[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) has approved the National Vocational and Technical Training Commission (NAVTTC) project for establishing and upgrading 250 vocational training institutes (VTIs) across Pakistan for skill development and the employment of youth. The project was approved during a meeting held under the chairmanship of secretary, Ministry of Planning, Development…
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More Chinese investment in renewable energy likely | The Express Tribune
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[ad_1] ISLAMABAD: The introduction of a wholesale electricity market in Pakistan will attract more Chinese investment in the renewable energy sector of the country, an investment expert said. The National Electric Power Regulatory Authority (Nepra) on June 6 awarded market operator licence to Central Power Purchasing Agency-Guarantee (CPPA-G) under the Competitive Trading Bilateral Contract Market…
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Farmers lack access to credit | The Express Tribune
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[ad_1] KARACHI: The agriculture credit system needs to be revamped to meet financial needs of the sector and ensure the development of rural areas in the country, said agriculturalists. Russia’s invasion of Ukraine has disrupted the global supply chain to a point where Pakistani farmers would lose a great deal, largely because of increase in…
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Pakistan’s escape from FATF’s grey list | The Express Tribune
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[ad_1] PUBLISHED June 26, 2022 ISLAMABAD: In February of 2020, the president of the Financial Action Task Force (FATF) gave Pakistan a stark warning: either enact laws in line with the body’s Anti-Money Laundering (AML) and Combating Terrorism Financing (CFT) standards along with bringing the country’s regulatory framework in line with international standards or be…
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Calculate your income tax after revision in tax slabs
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[ad_1] A representative image. KARACHI: The government has made some changes to tax deduction criteria for the salaried people on the demand of the International Monetary Fund (IMF) withdrawing relief given on June 10. As per the revised tax criteria, the government proposed a tax rate of 2.5% for income brackets of Rs50,000 to Rs100,000.…
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SBP moves apex court against Shariat court’s interest ban | The Express Tribune
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[ad_1] ISLAMABAD: The State Bank of Pakistan (SBP) moved on Saturday the Supreme Court against the Federal Shariat Court’s (FSC) decision to shift to an interest-free economy. Salman Akram Raja filed the petition on behalf of the SBP, while four other private banks also appealed against the FSC’s decision with the Ministry of Finance, Ministry…
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US recession would be ´necessary price´ to defeat inflation: IMF chief
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[ad_1] IMF managing director Kristalina Georgieva said the US must fight inflation, even if that means some pain in the short term. Photo: AFP/File WASHINGTON: With inflation rising sharply, and the Federal Reserve raising interest rates, the United States is facing an increased risk of a downturn, IMF Managing Director Kristalina Georgieva said Friday. But…
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Many GSP Plus areas still untapped | The Express Tribune
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[ad_1] LAHORE: The head of the visiting European Union’s Generalised Scheme of Preferences (GSP) Plus monitoring mission, Guido Dolara, has said that the time is crucial for Pakistan which has to show tangible results by October as a draft report for the GSP Plus status will be prepared by that month. Dolara made the remarks…
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PM nod sought for change in oil firm control | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division has sent a summary to Prime Minister Shehbaz Sharif, seeking his endorsement for handing over control of Eni Pakistan Limited to Prime International Oil and Gas Company Limited (PIOGCL). The division sought approval for the change in effective control from Eni Ulx Limited, Eni UK Limited and Eni Oil Holdings…
