Business News
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PSX submits FY23 budget proposals | The Express Tribune
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[ad_1] KARACHI: No modern economy can grow and improve savings and investment rates without large and well-functioning capital markets, Pakistan Stock Exchange (PSX) Managing Director Farrukh H Khan emphasised. “The stock market in Pakistan is the most documented sector of the economy but is still discriminated against,” he said, adding that there were serious tax…
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Petrol price in Pakistan to remain unchanged
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[ad_1] Information Minister Marriyum Aurangzeb arrives at the Parliament House building in Islamabad on April 3, 2022. — AFP ISLAMABAD: The price of petroleum products will remain unchanged for the first half of the next month in the country, Information Minister Marriyum Aurangzeb announced Thursday. In a statement, the information minister shared that Prime Minister…
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Russia in receipt of $63b for fossil fuels since start of war | The Express Tribune
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[ad_1] ISTANBUL: European Union Member States, China and other countries paid Russia an estimated €63 billion for fossil fuels since the beginning of the war two months ago, new data finds. According to a detailed tracker of Russian oil, gas and coal shipments and pipeline exports by the Centre for Research on Energy and Clean…
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Foreign exchange: SBP reserves fall $328m to $10.56b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 3% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 23, the foreign currency reserves held by the SBP were recorded at $10,558.2 million, down $328 million compared with $10,885.7 million on April…
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Market watch: Stocks falter on macroeconomic concerns | The Express Tribune
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[ad_1] KARACHI: Bears held their ground and dominated trading at the Pakistan Stock Exchange on Thursday as news reports regarding T-bill yields hitting a 24-year high dented investor interest, triggering across-the-board profit-selling. The benchmark KSE-100 index, after remaining in the negative territory throughout the session, recorded a drop of around 284 points to settle in…
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Asian markets enjoy respite from heavy selling pressure
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[ad_1] Photo: AFP/ file HONG KONG: Asian markets enjoyed some much-needed gains Thursday having so far suffered a troubled week, with sentiment lifted by a bargain-buying, a positive lead from New York and Europe, and further pledges of economic support for China’s economy. However, traders remain on high alert on a range of crises…
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Shehbaz may seek $7.4b Saudi aid package | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan may seek a $7.4 billion financial assistance package from Saudi Arabia in the shape of cash deposits and oil on deferred payments, including rollover of the existing $4.2 billion facilities that are expiring by the end of this year. The request will be made during the three-day visit of Prime Minister Shehbaz…
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Pakistan Petroleum’s profit increases 74% to Rs20.62b | The Express Tribune
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[ad_1] KARACHI: Pakistan Petroleum Limited’s (PPL) net profit increased 74% to Rs20.62 billion in the third quarter ended March 31, 2022 in the wake of rupee depreciation and surge in petroleum crude oil and gas prices in the country. The oil and gas exploration firm booked a profit of Rs11.88 billion in the same quarter…
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Time ripe to boost Pak-US tech bond | The Express Tribune
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[ad_1] WASHINGTON: Now the time is ripe for strengthening tech bonds between Pakistan and the United States, said Pakistan Ambassador to the United States Masood Khan. Addressing Pakistan Tech Summit 2022 in Silicon Valley on Wednesday, he said that the Pakistani government is taking steps to create a hospitable environment for the tech industry, said…
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SECP introduces concept to promote financial inclusion | The Express Tribune
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[ad_1] ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday published a concept note on “Asset Fractionalisation” to improve financial inclusion and make high-value illiquid assets accessible for small investors. “In line with the SECP’s continuous efforts for modernising the corporate sector and making it more inclusive, the commission has published a concept…
