Express
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Pakistan meets all IMF conditions: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Finance Ishaq Dar has claimed that Pakistan has met all the conditions set by the International Monetary Fund (IMF) for a staff-level agreement and that the lender’s mission for review will soon get a staff-level agreement approved by the fund’s executive board. “The IMF will soon sign the staff level…
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Dollar clings to gains | The Express Tribune
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[ad_1] SINGAPORE: The dollar headed for its first weekly gain in nearly two months on Friday as investors raised their bets that the Federal Reserve will increase rates in May, while a surprising recovery in the euro zone economy in April underpinned the euro. The dollar index, which measures the performance of the US currency…
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Banks consider SME financing as highly risky | The Express Tribune
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[ad_1] KARACHI: As Pakistan grapples with an ongoing economic meltdown, the outlook on growth of small enterprises has been impacted significantly. Financial institutions are increasingly seeing small and medium-sized enterprises (SMEs) at higher risk, leading to a reduction in overall funding support for such businesses. This shift in attitude towards the SMEs reflects the challenging…
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Investors sue Swiss regulator | The Express Tribune
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[ad_1] BENGALURU: Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover. Law firm Quinn Emanuel Urquhart and Sullivan, which is representing the bondholders, said on Friday the move was the first…
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Jhang thermal plant connected to power grid | The Express Tribune
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[ad_1] JHANG: A significant milestone has been achieved at the Jhang 1263 MW thermal power plant in Pakistan. Operated by China Machinery Engineering Corp (CMEC), the plant’s turbine generator was successfully connected to the power grid for the first time in April 2023. The unit is operating smoothly, and all parameters are meeting the design…
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80% workers denied minimum wage | The Express Tribune
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[ad_1] KARACHI: Pakistanis are facing dire living conditions due to the country’s failure to enforce minimum wage laws and a historic rise in inflation. According to the Pakistan Institute of Labour Education and Research (PILER), an estimated 80% of unskilled workers are not receiving the minimum wage of Rs25,000 per month, which was awarded ten…
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Investors can discount IMF’s EM gloom | The Express Tribune
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[ad_1] LONDON: Early April in Washington is famous for two time-honoured rituals. The US capital’s Tidal Basin hosts the National Cherry Blossom Festival. A few blocks further north you can hear the International Monetary Fund (IMF) tell visiting finance ministers, central bankers and financiers about the dire economic outlook for emerging markets. This year, the…
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China’s big refineries crowd for Russian oil | The Express Tribune
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[ad_1] SINGAPORE: Chinese state oil giants and major private refiners are sweeping up more Russian crude, supporting prices and forcing smaller independents to seek out cheap alternatives such as Iranian oil, according to trade sources and shipping data. The demand from China’s biggest buyers, which had shied away from Russian crude in the immediate aftermath…
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Chile plans to nationalise vast lithium industry | The Express Tribune
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[ad_1] SANTIAGO: Chile’s President Gabriel Boric said on Thursday he would nationalise the country’s lithium industry, the world’s second largest producer of the metal essential in electric vehicle (EV) batteries, to boost its economy and protect its environment. The shock move in the country with the world’s largest lithium reserves would in time transfer control…
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Govt struggles to secure loans from global lenders | The Express Tribune
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[ad_1] ISLAMABAD: The government faced difficulties in obtaining funds from international partners and lenders during first three quarters of the current financial year mainly because of unresolved issues with the International Monetary Fund (IMF), sources said on Friday. According to statistics issued by the Economic Affairs Division, the country received foreign loans worth $7.76 billion…
