Business News
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Sukuk: empowering retail investors | The Express Tribune
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[ad_1] KARACHI: The debut of Pakistan’s inaugural listed sovereign Sukuk in December last year, valued at Rs30 billion, on the Pakistan Stock Exchange (PSX), alongside robust investor interest totaling nearly Rs400 billion, has paved the way for the consistent issuance of Shariah-compliant securities. This momentum could catalyse the creation of innovative Islamic capital market products…
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The battle over solar power pricing | The Express Tribune
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[ad_1] ISLAMABAD: Net metering, also referred to as net energy metering (NEM), is an electricity billing method enabling consumers generating their own power to utilise it at any time, rather than solely when it’s generated. It involves customers with solar panels transferring excess electricity they produce to the grid, receiving credits from the utility company…
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Saudi trade delegation arrives in Pakistan to discuss investment
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[ad_1] Saudi delegation being receieved by Pakistani authorities in Islamabad in this still taken from a video. — GeoNews/YouTube ISLAMABAD: A high-level delegation comprising various Saudi investors landed in Islamabad on Sunday to hold talks on trade and investment in Pakistan, as directed by Crown Prince Mohammed Bin Salman. Federal Minister for Petroleum Musadik Malik…
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PSX takes a breather after touching record | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX), after shooting up to record highs, experienced some correction during the outgoing week as investors resorted to profit-booking, primarily due to the State Bank of Pakistan (SBP)’s decision to leave its policy rate on hold for the next six weeks. Investors, analysts, businessmen and market players had been expecting…
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Pakistan welcomes $20b investment in Uzbekistan | The Express Tribune
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[ad_1] TASHKENT: The business communities of Pakistan and Uzbekistan welcomed Saudi Arabia’s $20 billion investment in Uzbekistan’s energy sector on Saturday. Speaking to APP during the Tashkent International Investment Forum (TIIF), Chairman of the Chamber of Commerce and Industry of Uzbekistan, Vakhabov Davron Abdujalolovich, highlighted that at the opening ceremony on May 2, Saudi Arabia’s…
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PTA turns down FBR’s plea to block over 0.5m SIMs of non-filers
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[ad_1] Representation image of mobile phone SIM cards. — AFP ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has turned down the Federal Board of Revenue’s (FBR) request to block over 0.5 million SIMs of non-filers, terming the move contrary to legal framework. Now this rejection might trigger more controversy between the FBR and PTA as both…
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Sindh launches digital payment system for Peoples Bus Service
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[ad_1] This undated photo shows a fleet of the Peoples Bus Service. — APP. In a bid to facilitate the masses, the Pakistan Peoples Party (PPP)-led Sindh government on Saturday introduced the Automated Fare Collection (AFC). People would be able to pay their bus fare using smart card on the Peoples Bus Service through the…
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Qatar PM sells Mayfair mansion in London’s most expensive real estate deal
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[ad_1] Qatari sheikh sells London mansion to fellow royal for $49 million. — National/File Qatar Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani sold his Mayfair mansion to another fellow royal member for a whopping $49 million in London’s most expensive real estate deal for the year 2023, Bloomberg reported. The property situated between Hyde…
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Auctions of seized vehicles under scrutiny | The Express Tribune
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[ad_1] ISLAMABAD: Smuggled vehicles confiscated by the Customs Department, a subsidiary under the Federal Board of Revenue (FBR), are being auctioned at prices below the reserve price established for the auctions. The startling revelation prompted the FBR to take notice of the auction of seized vehicles at less than the reserve price, despite objections raised…
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ADB, donors pledge $5b in grants | The Express Tribune
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[ad_1] KARACHI: The Asian Development Bank (ADB) and donors have pledged $5 billion in grants for member countries to combat vulnerabilities like climate change, natural disasters, poverty, and gender gaps over the next four years, enabling nations including Pakistan to focus on growth, development, and regional connectivity. In a statement on Friday, the ADB said,…
