Business News
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Bitcoin slides after crypto lender freezes withdrawals | The Express Tribune
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[ad_1] Bitcoin slides after crypto lender freezes withdrawals Cryptocurrency touched 18-month low at $23,300 LONDON Bitcoin tumbled on Monday after major US cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” conditions, in the latest sign of the financial market downturn hitting the cryptosphere. The Celsius move triggered a slide across cryptocurrencies, with…
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Currency update: Yen slides to 24-year low against US dollar
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[ad_1] US dollar and Japan yen notes are seen in this photo illustration June 2, 2017. TOKYO: The yen plunged to its lowest level against the dollar since 1998 on Monday as sky-high US inflation fuels a widening monetary policy gap between Japan and the world’s largest economy. Japan’s currency has been weakening for months,…
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Rupee once again hits 203-mark against dollar in interbank
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[ad_1] AFP/file KARACHI: In the first trading session after the budget 2022-23, the Pakistani rupee continues to fall and again surpassed the 203-mark by losing 65 paise in the interbank trade on Monday. Earlier, in view of the high dollar demand for import payments ahead of fiscal year-end, traders had said that the local…
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Rupee continues slide, plunges to 204 against USD | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee shed at least Rs1.75 against the US dollar in the interbank market to reach Rs204.10 before noon on Monday. The rupee had closed at Rs202.35 against the dollar on Friday, as per the State Bank of Pakistan (SBP). Similarly, the Pakistan Stock Exchange (PSX) touched a two-year low at 41,231…
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Budgetary figures subject ‘to IMF deal’ | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Miftah Ismail has presented a “provisional” budget of Rs9.5 trillion in the National Assembly that may change in the light of any deal with the International Monetary Fund (IMF), as the government slaps taxes on salaried class people’s expenses on health and life insurance. In a positive development, through the Finance…
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Economic crisis and default fear | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan now faces daunting challenges in dealing with the economic crisis to meet its balance of payments needs and avoid economic default. The budget deficit in the outgoing year 2021-22 is expected to be around Rs5,200 billion. Circular debt in the power sector is going to be Rs2,500 billion. Trade deficit has increased…
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Solar PV on canals and water bodies | The Express Tribune
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[ad_1] ISLAMABAD: Solar PV plants with a total of 8,000-megawatt capacity are projected to be installed in Pakistan by the year 2030. Based on a typical plant of 50MW, it would mean 160 solar PV plants. Solar PVs are best installed near the point of consumption to save cost, transmission assets and losses. Although solar…
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Sustainable solid waste management | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan generates approximately 49.6 million tons of solid waste and 4.36 billion cubic metres (BCM) of domestic and industrial wastewater a year, which has been increasing more than 2.4% annually. Like other developing countries, about 60-70% of solid waste and merely 1% of the total wastewater is treated prior to its disposal. Pakistan…
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Addressing challenges of income inequality, real estate | The Express Tribune
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[ad_1] KARACHI: People want foreseeability. Governments use budget to project their governance priorities, summarise current challenges and chart the way forward. If you have only one year of tenure remaining, the budget merely reflects a must-do scenario as the absence of which can derail national security. In this case, remaining within the IMF programme is…
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An economy losing steam | The Express Tribune
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[ad_1] ISLAMABAD: As the Economic Survey 2021-22 indicates, we should celebrate a respectable growth rate of 5.97%, a rise in exports by 27.8% and an increase in tax collection by 28.1%. These numbers mask three important facts. First, the growth rate has, once again, brought us to an unsustainable current account deficit, thus subjecting us…
