Business News
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Traders demand consultation on budget | The Express Tribune
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[ad_1] LAHORE: The business community has expressed optimism that the acting State Bank of Pakistan (SBP) Governor, Murtaza Syed, will initiate a consultation process with the stakeholders on budget preparation. In a statement on Friday, Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir underlined that due to time constraints, the acting SBP…
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Taiwan adds Belarus to export control list | The Express Tribune
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[ad_1] TAIPEI: Taiwan’s government imposed controls on exports of technology to Belarus on Friday, saying Minsk was directly involved in Russia’s invasion of Ukraine. The restrictions – which the island also imposed on Russia last month – bar Taiwanese companies from exporting a long list of tech products there without special permission. The move is…
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SBP reserves fall $59m to $10.5b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 0.56% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Friday. On April 30, the foreign currency reserves held by the SBP were recorded at $10,499 million, down $59 million compared with $10,558.2 million on April…
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Foreign exchange: SBP reserves fall $59m to $10.5b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 0.56% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Friday. On April 30, the foreign currency reserves held by the SBP were recorded at $10,499 million, down $59 million compared with $10,558.2 million on April…
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Market watch: Stocks fall in absence of positive cues | The Express Tribune
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[ad_1] KARACHI: Bears held sway at the Pakistan Stock Exchange on Friday, as the benchmark KSE-100 index stayed in the negative territory throughout the session and dropped by 409 points on the first trading day after long Eid holidays. Investors opted to stay on the sidelines as the trading volume and value dipped as compared…
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NTDC fined Rs50m over 2021 blackout | The Express Tribune
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[ad_1] The National Electric Power Regulatory Authority (NEPRA) imposed a fine on Friday to the tune of Rs50 million on the National Transmission and Despatch Company (NTDC) over a countrywide electricity blackout in January 2021. A spokesperson for NEPRA said the NTDC failed to ensure the supply of electricity in a timely manner as it took the…
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Firms confront new climate challenge | The Express Tribune
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[ad_1] WASHINGTON: Tech and financial companies leading efforts to cut climate changing emissions are finding a new challenge from remote work: the CO2 spewing out of home offices. A few companies have begun counting what happens when employees boot up computers at home, turn up gas furnaces and ignore the world’s most energy-efficient corporate campuses.…
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US passes antitrust bill pressuring OPEC | The Express Tribune
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[ad_1] WASHINGTON: A US Senate committee passed a bill on Thursday that could expose the Organisation of the Petroleum Exporting Countries (OPEC) and partners to lawsuits for collusion on boosting crude oil prices. The No Oil Producing or Exporting Cartels (NOPEC) bill sponsored by senators, including Republican Chuck Grassley and Democrat Amy Klobuchar, passed 17-4…
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Europe braces for impact of Russian oil sanctions | The Express Tribune
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[ad_1] LONDON: The European Union (EU) has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian barrels in Europe? What does the EU currently import? The EU imported 2.2 million barrels per day (bpd) of crude oil and 1.2…
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Asian equities see large capital outflows | The Express Tribune
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[ad_1] WASHINGTON: Asian equities saw massive foreign capital outflows in April on expectations of a hawkish policy by the US Federal Reserve and concerns over the impact of China’s lockdowns on regional growth. Overseas investors offloaded Asian equities worth $14.22 billion in their fourth straight month of net selling, Refinitiv data for stock exchanges in Taiwan,…
