Business News
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Urban planning for cars in capital | The Express Tribune
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[ad_1] ISLAMABAD: Islamabad, once known as a city of parks and gardens, is rapidly becoming a city of cars and SUVs. It is a great place to live in – if you are a car. Thanks to Doxiadis Associates, the capital was designed assuming that there would never be an uncontrolled urban sprawl and that…
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Bigger lies in statistics | The Express Tribune
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[ad_1] ISLAMABAD: One of the statistical jokes says that if your one foot is on fire and the other on ice, you should feel comfortable on average, and that is what an average Pakistani is supposed to feel if we go by statistics on our economy. Moreover, every Pakistani got richer overnight, a few days…
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Foreign debt to ‘jump to $103b’ by end of next fiscal | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund has revealed that Pakistan owes $18.4 billion or one-fifth of its external public debt to China, which is not only $4 billion higher than the officially reported figures but is also the highest lending by any single country or financial institution. In its new report on Pakistan, the IMF…
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Third LNG facility to become functional in 2023 | The Express Tribune
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[ad_1] ISLAMABAD: At present, two liquefied natural gas (LNG) terminals are operating in the country to meet the ever-growing energy needs of consumers and the third facility will be functional by next year, Federal Minister for Energy Hammad Azhar has said. In an interview with Bloomberg, the minister said that Qatar, one of the top…
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Former Bundesbank chief appointed to head IMF expert panel
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[ad_1] German Bundesbank President Jens Weidmann, wearing a protective face masks, attends the weekly cabinet meeting at the Chancellery in Berlin on June 23, 2021. — AFP/File WASHINGTON: The International Monetary Fund has appointed former Bundesbank President Jens Weidmann to head an independent expert panel following allegations of data tampering against IMF chief Kristalina Georgieva,…
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Pakistan to get $3b from IMF in next 7 months | The Express Tribune
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[ad_1] KARACHI: Pakistan is scheduled to receive the remaining $3 billion under the International Monetary Fund’s (IMF) $6 billion loan programme over the next seven months, which will help stabilise its foreign exchange reserves and strengthen the rupee. The IMF has released $1.05 billion after completion of the sixth review, taking the total amount to…
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Inflation takes toll on kinnow processing | The Express Tribune
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[ad_1] KARACHI: The mounting cost of doing business coupled with supply-side disruptions amid Covid-19 pandemic has taken a toll on the kinnow processing industry of Pakistan. Around 100 kinnow processing factories shut down in Sargodha district alone, after experiencing drastic losses on the back of soaring commodity prices and pandemic induced limitations, Pakistan Businesses Forum…
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Crisis looms as wheat sowing shrinks in Punjab | The Express Tribune
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[ad_1] ISLAMABAD: A wheat crisis is still looming in the country as cultivation of the staple crop has dropped in Punjab, setting off alarm bells. Chairman of the National Price Monitoring Committee (NPMC) has expressed concern over the decline in wheat plantation area in Punjab compared to the target set for the current season. In…
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Biggest tax scam surfaces in FBR | The Express Tribune
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[ad_1] ISLAMABAD: A new tax scam has surfaced in the Federal Board of Revenue (FBR) where tax authorities illegally paid over Rs16 billion in sales tax refunds to hundreds of big retailers in the past five months. According to government sources and a list of beneficiaries of the illegal input tax adjustments, the payments were…
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Amazon exploring offer for bike maker | The Express Tribune
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[ad_1] WASHINGTON: Peloton Interactive has drawn interest from potential buyers including e-commerce giant Amazon.com, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board…
