Express
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PRL plans to buy Shell operations | The Express Tribune
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[ad_1] KARACHI: Pakistan Refinery Limited (PRL), which is controlled by state-owned Pakistan State Oil (PSO), and a leading smartphone distributor have jointly expressed the intension to acquire Shell Pakistan with management control, according to a bourse filing on Monday. The lead to the offer, Next Capital, said in a public announcement at the Pakistan Stock…
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SEZs to offer incentives for Chinese investment | The Express Tribune
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[ad_1] BEIJING: Planning Minister Ahsan Iqbal has said that Special Economic Zones (SEZs) will provide an opportunity for Chinese investments to take advantage of incentives that Pakistan offers to foreign investment with concessions. “We are working on nine special economic zones,” he said and shared that the first Rashakai Special Economic Zone will be inaugurated…
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Pakistan needs to harness renewable energy | The Express Tribune
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[ad_1] KARACHI: Climate change is reshaping the globe and transforming how we envision the future. The Global South is experiencing more frequent and intense droughts, storms, floods, and heatwaves, with rising sea levels. Unfortunately, Pakistan is no different. The catastrophic floods in 2022 were mainly caused by increased precipitation and glacier melting due to climate…
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Adapting to AI disruption in finance | The Express Tribune
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[ad_1] KARACHI: The world is abuzz with how AI-driven chatbots are changing the landscape and would start eating into the already shrinking job market. A non-entrepreneur, who is used to a 9-5 job, is worried and spending countless nights wondering how artificial intelligence (AI) will affect jobs in the future. Will AI replace human workers…
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Power tariff hiked on IMF demand: Shehbaz | The Express Tribune
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[ad_1] LAHORE: Prime Minister Shehbaz Sharif said on Saturday electricity tariff hike was a condition of the International Monetary Fund (IMF), and stressed that the country would have to take the loan programme seriously and benefit from it. Speaking during a meeting with prominent businessmen and industrialists at the Governor’s House in Lahore, Shehbaz urged…
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Credit Suisse inquiry to keep files secret | The Express Tribune
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[ad_1] ZURICH: A parliamentary investigation into the collapse of Credit Suisse will keep its files closed for 50 years, according to a parliamentary committee document, a level of secrecy that has triggered concern among Swiss historians. The document means the investigating commission will hand over its files to the Swiss Federal Archives after a much…
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Electric bills to significantly rise soon | The Express Tribune
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[ad_1] ISLAMABAD: ISLAMABAD. The country’s power regulator–the National Electric Power Regulatory Authority (Nepra) on Friday approved a hike in the national average power tariff by Rs4.96 per unit for the current fiscal year, in line with a condition imposed by the International Monetary Fund (IMF). If Nepra’s decision is implemented, the electric bills of all…
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Wall St climbs on cooler inflation | The Express Tribune
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[ad_1] BOSTON: World stocks extended gains on Friday while the dollar held near 15-month lows after US inflation data this week unleashed a wave of investor optimism that the US Fed was nearing the end of its rate-hiking cycle. Data showed on Wednesday US consumer prices growing at their slowest pace in more than two…
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Textiles see decline while apparels boom | The Express Tribune
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[ad_1] KARACHI: Pakistan’s textile industry has experienced a significant decline in production, particularly in the cotton yarn and cotton cloth segments, resulting in a worrisome overall decrease of 26% year-on-year. In contrast, the apparel sector has witnessed remarkable growth, with garments production increasing by 13% year-on-year in April 2023 and an impressive 26% year-on-year in…
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IMF says implementation of SBA crucial to Pak’s economic future | The Express Tribune
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[ad_1] The International Monetary Fund’s (IMF) Director of Strategic Communications Julie Kozack has said that “steadfast implementation” of the nine-month Stand-by Arrangement (SBA) was critical to Pakistan’s future. “Steadfast implementation is critical to address its large financing needs & support the most vulnerable,” she said in a statement on Thursday. The Stand-By Arrangement (SBA) for Pakistan 🇵🇰…
