Business News
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RDA inflows at 19-month high | The Express Tribune
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[ad_1] KARACHI: The foreign currency investment made by overseas Pakistanis through the Roshan Digital Account (RDA) reached a 19-month high at $182 million in March 2024, which indicated an increase in confidence of expatriate Pakistanis in the national economy. According to the State Bank of Pakistan’s (SBP) data, the inflows increased by 29% to $182…
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IMF executive board to approve Pakistan’s $1.1 billion tranche next week
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[ad_1] IMF headquarters in Washington, US. — AFP/File The International Monetary Fund’s (IMF) executive board will hold its meeting on April 29 to review the approval of $1.1 billion funding for Pakistan under the $3 billion Stand-By Arrangement (SBA), Reuters news agency quoted the global lender as saying on Wednesday. Pakistan and the IMF reached…
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Stocks soar to new high above 72k | The Express Tribune
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[ad_1] KARACHI: Bulls made a comeback at the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index touched a new peak above the 72,000-point mark over improved economic prospects. Earlier, trading began on an optimistic note and the KSE-100 index hit the intra-day high of 72,414.32 points in the initial hours as investor confidence…
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Oil prices fall as ME tensions ease | The Express Tribune
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[ad_1] LONDON: Oil prices were moderately lower on Wednesday as worries over conflict in the Middle East eased and business activity in the world’s largest oil consumer slowed, however, a fall in US crude oil inventories put a floor on those losses. Brent crude futures were down 27 cents, or 0.31%, to $88.15 a barrel…
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Industrialists urge action on Pak-Iran trade targeting $10b | The Express Tribune
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[ad_1] KARACHI: Welcoming the Pak-Iran bilateral trade target of up to $10 billion, industrialists, exporters, and importers have called for exploring avenues for local currency or barter trade, tapping into Iran’s potential in the energy sector, and resolving the Pakistan-Iran gas pipeline issues, among others, immediately in the larger interest of the country. Industrialists advocate…
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PM Shehbaz asked to ‘shake hands’ with India
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[ad_1] Prime Minister Shehbaz Sharif was urged to mend ties with neighbouring countries including India in a bid to improve the country’s economy. The suggestion was floated by a top business leader of the country at a ceremony attended by the premier during his day-long visit to Karachi on Wednesday. Pakistan downgraded its ties including…
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IMF board to finalise $1.1b disbursement on Monday | The Express Tribune
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[ad_1] KARACHI: The executive board of the International Monetary Fund (IMF) will meet on April 29 to discuss the approval of $1.1 billion funding for Pakistan, the fund said on Wednesday. The funding is the second and last tranche of a $3 billion standby arrangement with the IMF, which was secured last summer to avert…
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Is Tesla in its flop era? Elon Musk switches to cheaper cars as profits drop
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[ad_1] Elon Musk company profits fall record low. — AFP/File Tesla has announced to introduce a new line of affordable cars by the year 2025, backtracking from its previous plans to produce an all-new model that had been expected to cost $25,000, NPR reported. News of the “new model” broke, as Tesla’s yearly quarter reports…
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PSX hits all-time high of 72,051 points on economic hopes
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[ad_1] Stockbrokers monitor the latest share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on December 2, 2022. — APP KARACHI: Pakistan stocks hit another record high by surpassing the 72,000 point mark as investors cheered a major recovery in foreign exchange reserves amid hopes of a cut in the…
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Govt promoting interest-free economy, Islamic banking in line with FSC verdict: FinMin
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[ad_1] A representational image showing a man counting rupee notes. — AFP/File The federal government is promoting an interest-free economy and establishing Islamic banking branches across the country in line with the Federal Shariat Court’s (FSC) verdict for getting rid of interest-based system, said Federal Minister for Finance and Revenue Muhammad Aurangzeb. The domestic economy…
