Business News
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Intel investment fuels EU chips race with Asia | The Express Tribune
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[ad_1] BERLIN: American chip-making giant Intel said on Tuesday it planned to invest tens of billions of euros in the European Union, as the continent seeks to reduce its reliance on semiconductors from Asia. The project to boost the entire production process, from the research of new technologies to the manufacturing and packaging of semiconductors,…
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Pakistan needs to create B2B linkages | The Express Tribune
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[ad_1] KARACHI: As Pakistan is marching towards digitalisation, it needs to focus on digital infrastructure besides creating business-to-business (B2B) linkages through the global e-commerce platforms to enhance its exports. In an interview with The Express Tribune, Alibaba – a China-based e-commerce platform – Country Manager (Pakistan) Songsong underlined that efficient online platforms could encourage the…
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Moscow’s invasion of Ukraine: UK slaps heavy tariffs on Russian imports
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[ad_1] British Prime Minister Boris Johnson. Photo: AFP/file LONDON: The UK government on Tuesday imposed an additional 35% import tariff on a swathe of Russian goods, including vodka, and banned exports of luxury products because of Moscow’s invasion of Ukraine. “We want to cause maximum harm to (Russian President Vladimir) Putin’s war machine while minimising…
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Market watch: Stocks turn bullish due to drop in oil prices | The Express Tribune
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[ad_1] KARACHI: Bulls returned to the Pakistan Stock Exchange on Tuesday, propping up the KSE-100 index by 353 points, aided by the drop in global crude oil prices. The plunge in oil rates below $100 per barrel revived investor interest and the pessimism over further widening of the current account deficit and swelling imports subsided…
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Oil falls below $100 | The Express Tribune
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[ad_1] LONDON: Oil prices dropped to their lowest in almost three weeks on Tuesday as Russia indicated it is in favour of the Iran nuclear deal resuming as soon as possible. Ceasefire talks between Russia and Ukraine further eased fears of supply disruptions and surging Covid-19 cases in China fuelled concerns about slower demand. Brent…
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Oil falls 8% on negotiation hopes | The Express Tribune
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[ad_1] Oil prices dropped about 8% on Monday to the lowest in two weeks, as diplomatic efforts between Ukraine and Russia looked like they might end their conflict, which would boost global supplies, while a pandemic-linked travel ban in China cast doubt on the demand outlook. Brent futures fell $8.64, or 7.7%, to $104.03 a…
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Rupee close to falling below 179 a dollar | The Express Tribune
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[ad_1] KARACHI: The decision of the government to freeze prices of petroleum products is seemingly taking a toll on the rupee, which slumped to a fresh all-time low at Rs178.98 against the US dollar in the inter-bank market on Monday. According to the State Bank of Pakistan (SBP), the rupee had closed at Rs178.51 on…
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Govt approves Rs8b broadband projects | The Express Tribune
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[ad_1] ISLAMABAD: The government has launched seven more projects worth about Rs8 billion for the provision of broadband services to over 2.5 million people in the un-served and under-served areas of the country’s four provinces. Out of the total allocation, the government will spend Rs3.5 billion on IT projects in Balochistan alone. The projects were…
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CCP slaps Rs1.1b fine on home appliances firms | The Express Tribune
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[ad_1] ISLAMABAD: The Competition Commission of Pakistan (CCP) has imposed a fine of Rs1.1 billion on two home appliances companies for violation of Section 4 of the Competition Act, 2010. According to a statement issued on Monday, both companies entered into resale price maintenance (RPM) arrangements with their dealers. “This is a form of price…
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Punjab spends Rs300 billion on projects | The Express Tribune
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[ad_1] LAHORE: The Punjab government has claimed that it has so far utilised Rs300 billion on various development schemes across the province. Talking to The Express Tribune, Planning and Development Board (Punjab) Chairman Abdullah Khan Sumbal underlined that the utilisation of funds in the first eight months of current fiscal year (2021-22) was historic. The…
