Business News
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Cabinet gives nod to Cloud First Policy | The Express Tribune
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[ad_1] ISLAMABAD: The federal cabinet on Tuesday approved the Cloud First Policy and the Personal Data Protection Bill to ensure the privacy of online data, which were deemed crucial to enter the digital world. The Cloud First Policy has listed five classes of data, which include open data in the public sector to make the…
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Oil transporters announce protest | The Express Tribune
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[ad_1] KARACHI: Petroleum transporters have announced that they will hold a peaceful protest and sit-in outside the headquarters of a state-owned oil marketing company from Wednesday onwards and threatened to cut fuel supplies across the nation. “We have given call for an indefinite peaceful protest,” All Pakistan Oil Tankers Owners Association (APOTOA) spokesman Israr Ahmed…
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SBP approves EMI licence for fintech | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP), in its efforts to enhance digital financial inclusion in the country, has approved the grant of Electronic Money Institution (EMI) licence to a financial technology firm. With the central bank’s approval, Hubpay became the first fintech in Pakistan to hold the EMI licence. Talking to The Express…
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E-banking transactions exceed GDP | The Express Tribune
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[ad_1] KARACHI: Owing to the revolutionary initiatives introduced by the central bank, the e-banking transactions in Pakistan were recorded at around $500 billion in the previous fiscal year (2020-21), revealed State Bank of Pakistan (SBP) Governor Reza Baqir. Speaking at the launch of Raast Person-to-Person (P2P) Instant Payments System on Tuesday, the central bank governor…
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World Bank warns of growing debt crisis | The Express Tribune
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[ad_1] WASHINGTON: Delays in dealing with the growing debt burden in poor countries seem unlikely to be resolved by the G20, a top World Bank official warned. As interest rates are starting to rise around the world, putting more pressure on borrowers, the Group of 20 finance ministers are due to meet in Indonesia this…
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Hubco’s profit declines 42% to Rs5 billion | The Express Tribune
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[ad_1] KARACHI: Hub Power Company registered a 42% drop in its profit that reached Rs5 billion in the quarter ended December 31, 2021 primarily due to a hefty loss suffered by an associate firm. According to a notice sent to the Pakistan Stock Exchange on Tuesday, the energy company had posted a profit of Rs8.45…
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‘Tax flaws’ impede steel supply | The Express Tribune
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[ad_1] KARACHI: Businessmen of the steel sector have lamented that they have been unable to send their products to the Gwadar Free Zone owing to flaws and complications in sales tax rules. “Steel industry of the country is unable to supply its product to the Gwadar Free Zone as well as Gwadar Airport and Gwadar…
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5G spectrum auction expected next year | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Telecommunication Authority (PTA) Chairman Major General (retd) Amir Azeem Bajwa has said the government has kicked off the auction process of the 5G spectrum on the recommendation of the advisory committee formed by the government. The process is expected to conclude by the end of this year or early next year…
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Govt jacks up petroleum prices by up to Rs12.03 per litre | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has once again dropped “petrol bomb” on masses by increasing the prices of petroleum products by up to Rs12.03 per litre. With the latest hike, the prices of petroleum products have reached a historic high. New prices will be applicable from Tuesday midnight. The new fuel prices will remain applicable…
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Market watch: Stocks rise as geopolitical dust settles | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a topsy-turvy session on Tuesday, as the benchmark KSE-100 index after oscillating in a narrow range managed to post decent gains in the end. Anxious investors took a sigh of relief on news that Russian troops were pulled back from Ukraine’s border, which also eased the pressure on…
