Business News
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Oil jumps 4% on fears of tightening supplies | The Express Tribune
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[ad_1] NEW YORK: Oil prices rose about 4% on Friday as US gasoline prices jumped to an all-time high and stock markets soared amid fears that supplies would tighten if the European Union bans Russian oil after Moscow sanctioned European units of state-owned Gazprom. Brent futures rose $3.97, or 3.7%, to $111.42 a barrel by…
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MedznMore raises over $11.5m investment | The Express Tribune
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[ad_1] KARACHI: MedznMore has raised Pakistan’s largest healthtech investment of over $11.5 million in Pre-Series A round. The company on Friday announced that it has completed its Pre-Series A round, marking the largest investment in healthtech to date. MedznMore is on a mission to reshape healthcare in Pakistan by increasing the accessibility of authentic medicines…
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Rupee fall, high prices add to fuel subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The continued rise in global crude oil prices and depreciation of the rupee against the US dollar have increased the cost of petroleum product subsidy. With the rupee’s fall, a 3.17% increase in prices of petroleum products has been projected from May 16. The average exchange rate had been Rs185.95 to the dollar…
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Remittances hit record high | The Express Tribune
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[ad_1] KARACHI: Beating the market expectations, workers’ remittances sent home by overseas Pakistanis have surprisingly surpassed the $3 billion mark in a month for the first time in history, apparently to support their family members to spend more during Ramazan and on Eid. “Remittances crossed the monthly mark of $3 billion for the first time,”…
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Global firm to tackle infrastructure challenges | The Express Tribune
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[ad_1] ISLAMABAD: CDM Smith USA will contribute to reducing environmental and infrastructure challenges in Pakistan, said CDM Smith Senior Vice President Jeff Montera. During his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Friday, he said that CDM Smith has already made useful contributions to mitigating the miseries of people during the…
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Tarin lists previous govt’s achievements | The Express Tribune
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[ad_1] KARACHI: Amid continuously deteriorating macroeconomic indicators of the country, like the depreciating rupee and depleting forex reserves, the former finance minister has highlighted the performance of his government, putting further pressure on the current administration. On his official Twitter handle on Friday, former federal minister for finance and revenue Shaukat Tarin showcased the performance…
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Karachi remains on radar of investors: CM | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister Syed Murad Ali Shah has said that Karachi is an economic hub of the country and his government will not allow terrorists, anti-state and anti-social elements to destroy peace in the city, which has been achieved at a heavy price. “The attack on Chinese teachers and the blast in Saddar…
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LNG price increased by 40% | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has notified 40% increase in the price of re-gasified liquefied natural gas (RLNG) for the consumers of public gas utilities for May 2022 as compared with the previous month of April. According to a notification issued on Friday, the government has fixed the RLNG price at…
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LSM sector grows 10.4% in Jul-Mar | The Express Tribune
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[ad_1] ISLAMABAD: Big industries grew 10.4% during the first nine months of current fiscal year on the back of a low base effect and better output in sugar and apparel sectors, increasing prospects of achieving around 5% overall economic growth in this fiscal year. Large-scale manufacturing (LSM) industries recorded 10.4% growth during July-March of the…
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Market watch: Stocks surge on remittances data | The Express Tribune
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[ad_1] KARACHI: Bulls held their ground at the Pakistan Stock Exchange on Friday, as the benchmark KSE-100 index staged a handsome rally of 588 points to end the week on a positive note. The news flow of record remittances, touching $3.13 billion in April 2022 rejuvenated investors interest, as they were continuously looking for positivity…
