Express
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Currency stabilises as foreign reserves improve | The Express Tribune
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[ad_1] KARACHI: In a positive turn of events, the Pakistani currency experienced a slight uptick of 0.03%, or Rs0.08, reaching Rs283.84 against the US dollar in the interbank market on Friday. This improvement followed the State Bank of Pakistan (SBP)’s announcement of a $30 million increase in foreign exchange reserves, reaching $4.46 billion by the…
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UBL keen on merging operation with Silkbank | The Express Tribune
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[ad_1] KARACHI: In a surprise move, United Bank Limited (UBL) has expressed interest to merge with Silkbank Limited, which has searched for a partner for over half a decade to improve the quality of its assets. UBL informed Pakistan Stock Exchange (PSX) on Friday “it is exploring a potential merger with Silkbank Limited and intends…
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ECC allows PIA-IL to utilise $1.145m funds for Roosevelt | The Express Tribune
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[ad_1] ISLAMABAD: The Economic Coordination Committee (ECC) on Friday allowed the Pakistan Internationa Airline Investment Limited (PIA-IL) to utilise the $1.145 million funds available from the balance as bridge financing to commence the re-opening work at the Roosevelt Hotel in New York, US. The ECC made the decision as it accepted the recommendations of the Ministry of…
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Punjab: ‘alarming youth unemployment revealed | The Express Tribune
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[ad_1] KARACHI: The latest research conducted by Gallup Pakistan and PRIDE has unveiled concerning statistics regarding youth unemployment in Punjab, with an overall unemployment rate of 6.69%. The survey, based on data from the Labour Force Survey 2020-21, highlights gender and regional disparities in unemployment rates. According to the findings, the unemployment rate among females…
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‘EV prices to come down as sales climb’ | The Express Tribune
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[ad_1] BERLIN: Nearly one in five cars sold globally this year will be electric, with the prices of smaller EV models dropping to rival those of combustion engine cars in North America and Europe by the mid-2020s, the International Energy Agency (IEA) predicted on Wednesday. The agency raised its EV sales forecasts in part because…
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UAE investor acquires majority stake in Summit Bank | The Express Tribune
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[ad_1] KARACHI: UAE-based investor Naseer Abdulla Hussain Lootah has acquired troubled Pakistani bank Summit Bank with the aim of transforming it into a Shariah-compliant institution, according to a notification from the bank to the Pakistan Stock Exchange. The acquisition involved the issuance of 3.98 billion new ordinary shares of the bank to Lootah at a…
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Rupee hits one-month high at 283.39 to a dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee ticked up 0.03%, or Rs0.08, on Wednesday and closed at a one-month high at Rs283.39 against the US dollar in inter-bank market, maintaining its winning streak for the second consecutive working day. The currency market resumed rupee-dollar exchange after five-day-long Eid holidays. On the previous working day on April 20, it…
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Tech helping to build new millionaires across Pakistan | The Express Tribune
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[ad_1] KARACHI: In Pakistan, technology is playing a crucial role in bridging the gap and empowering young individuals from poor pockets of society to create better livelihoods for themselves. Innovative solutions are providing these youths with tools and skills to overcome challenges and build a brighter future. Have you ever imagined that the kid who…
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Finance minister calls for realising true tax potential | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar has stressed the need for stepping up efforts to realise the “true tax potential” existed in the country and lent full support to the revenue collecting authority in performing its duties. The minister put emphasis on increasing tax receipts at a meeting he chaired to discuss revenue collecting performance…
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Pakistan received highest funding in 2022: ADB | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank (ADB) has claimed that Pakistan is the only Asian country that received the highest funding last year. The bank said that floods damaged the economy, especially the crops which created an imbalance of supply and demand and increased inflation. According to the annual report released by the ADB, Pakistan…
