Business News
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Moody’s downgrades Pakistan’s rating outlook | The Express Tribune
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[ad_1] KARACHI: Moody’s Investors Service has downgraded Pakistan’s credit rating outlook to negative from stable on fears the global commodity prices will remain elevated, which will continue to keep the current account deficit widened and impact the foreign exchange reserves in the current and next fiscal years. Besides, the domestic political uncertainty ahead of next…
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Power tariff hike jolts business circles | The Express Tribune
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[ad_1] KARACHI: The business community in Karachi has expressed concern over the hike in electricity base tariff at the behest of the International Monetary Fund (IMF). “We totally reject the unlawful increase in electricity base tariff by Rs7.90 per unit announced by the National Electric Power Regulatory Authority (Nepra),” said Karachi Chamber of Commerce and…
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Trade gap swells to $43b in Jul-May | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit rose steeply to $43.3 billion in 11 months of the current fiscal year with imports hitting the $72 billion mark but the official foreign exchange reserves slipped to single digit, painting a dangerous picture of the external sector. Although exports crossed the annual target on the back of higher global…
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Stocks dive over hike in T-bills yield | The Express Tribune
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[ad_1] Market watchStocks dive over hike in T-bills yieldBenchmark KSE-100 index sheds 518.13 points to settle at 42,237.91OUR CORRESPONDENTKARACHISelling pressure gripped the Pakistan Stock Exchange on Thursday, following an increase in treasury bill yields by 75 basis points to 15.25% and predictions of a further hike in the policy rate.Pushed by these developments, the bourse…
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Govt increases prices of petrol, diesel by Rs30 per litre again | The Express Tribune
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[ad_1] The prices of petrol and diesel have once again been increased by Rs30 per litre each, with the change set to take effect from 12 midnight. The increase in the prices of the utility was announced by Federal Finance Minister Miftah Ismail while addressing a presser in Islamabad Thursday evening. The price of petrol,…
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Asian markets drop on recession fears, output report drags oil down
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[ad_1] Photo: AFP/file HONG KONG: Equities fell in Asia on Thursday as traders grow increasingly worried that central bank moves to rein in inflation could tip economies into recession. However, price pressures were eased by a drop in crude following a report saying Saudi Arabia had indicated it was willing to pump more if…
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NEPRA hikes power tariff by Rs7.91 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved a massive increase of Rs7.91 per unit in the electricity tariffs. With the new hike, the one-unit price of electrifying has gone up from Rs16.91 to Rs24.82. Nepra has sent the hike to the federal government for notification. The new tariffs will be applicable…
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‘Good News:’ China agrees to refinance over $2 billion debt | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail has said that China has agreed to refinance $2.3 billion in debt, providing a major financial relief to the government. “The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed,” Miftah wrote on his official Twitter handle on Thursday.…
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Rupee will stabilise after IMF deal: Iqbal | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday said that Pakistan needed a big jump in exports to cope with economic challenges and urged the business community to play a role in boosting exports. He made the remarks after inaugurating the Environment Expo along with Atadjan Movlamov, Ambassador of…
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K-Electric mulling power outages for industries | The Express Tribune
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[ad_1] KARACHI: K-Electric may consider resuming load-shedding across its consumer network including the industrial zones, and may increase the duration of outages in the already affected areas to help people avoid default on monthly bill payments. “The cost of power production has gone beyond peoples’ affordability,” K-Electric’s Chief Marketing Officer Sadia Dada said while briefing…
