Business News
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Builders seek govt’s support as input cost rises | The Express Tribune
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[ad_1] LAHORE: The construction industry has once again requested the government to provide some relief to the sector from the skyrocketing prices of construction material. Talking to journalists on Wednesday, Constructors Association of Pakistan (CAP) Chairman Kamal Nasir Khan mentioned that due to inflation, builders were unable to meet their commitments to the ongoing projects…
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T-bill yields fall as SBP maintains rate | The Express Tribune
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[ad_1] KARACHI: The cut-off yields on treasury bills (T-bills) fell in the range of 15-68 basis points in the auction of sovereign debt securities on Wednesday, encouraging the government to raise a higher amount of debt against the target to pay off previous loans. “Cut-off yields have declined after the central bank left the benchmark…
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PTA slaps Rs30m fine on mobile operator | The Express Tribune
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[ad_1] KARACHI: The Pakistan Telecommunication Authority (PTA) has imposed a penalty of Rs30 million on a mobile network operator over failure to meet the service quality standards as laid down in its licence. The operator – Pakistan Mobile Communication Limited (PMCL), commonly known as Jazz – has, however, expressed its reservations about the authority’s new…
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Foreign loans soar to $10.4b in Jul-Dec | The Express Tribune
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[ad_1] ISLAMABAD: The government borrowed $10.4 billion in the past six months, which was higher by 78% over the same period of last year, as it struggled to address the growing current account imbalance and keep the debt-financed foreign exchange reserves at current levels. Gross foreign loan disbursements during July-December of current fiscal year remained…
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SBP working on new mechanism to aid SMEs | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) is making all possible efforts to enhance collaboration with the industry and trade chambers across the country to spread awareness of its credit schemes to boost their utilisation, remarked SBP Banking Services Corporation (BSC) Managing Director Muhammad Ashraf Khan. Inaugurating the two-day SME Mela in Multan on…
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WTO lets China impose $645m in tariffs on US | The Express Tribune
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[ad_1] BRUSSELS: The World Trade Organisation (WTO) authorised China on Wednesday to impose $645 million of compensatory tariffs against the United States in a ruling immediately blasted by Washington. China went to the WTO in 2012 to challenge anti-subsidy tariffs the United States imposed between 2008 and 2012, mainly during the term of US President…
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FBR hopes to collect Rs8tr in revenue by 2023 | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) remains optimistic that it will achieve the revenue target of Rs8 trillion by 2023, which will give a new direction to the country’s economy, said FBR Chairman Dr Ashfaq Ahmed. Speaking to journalists on Wednesday, the FBR chairman said that Prime Minister Imran Khan had a unique…
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‘Research institutes vital for boosting agri yield’ | The Express Tribune
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[ad_1] LAHORE: Latest agricultural researches should reach farmers as they can help them reduce their production cost and increase the country’s agricultural output, Federal Minister for National Food Security and Research Syed Fakhar Imam noted. Presiding over a performance review meeting at Ayub Agriculture Research Institute – Faisalabad on Wednesday, the minister stressed upon research…
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Market watch: KSE-100 ticks up in range-bound session | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange staged a rebound on Wednesday but the KSE-100 index rose just 67 points in range-bound trading as investors were wary of surging Covid-19 cases in the country and increasing global crude oil prices. Trading remained mixed as bulls locked horns with bears to take control of the market. Escalating…
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Oil hits highest since 2014 on Russia-Ukraine tension | The Express Tribune
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[ad_1] LONDON: Oil rose to a seven-year high close to $90 a barrel on Wednesday, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption. US President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine. On…
