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Remittances hit 32-month low at $1.89b in January | The Express Tribune
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[ad_1] KARACHI: Workers’ remittances to Pakistan fell to a 32-month low in January 2023, slipping below the $2 billion mark, according to the State Bank of Pakistan (SBP). The remittances recorded at $1.89 billion, a decrease of 13% compared to…
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Adani group’s market losses hit $100b as stocks sink | The Express Tribune
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[ad_1] NEW DELHI: India’s Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week’s short-seller attack. The…
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Pakistan imports threatened as forex reserves hit eight-year low
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[ad_1] An undated image of the US dollar. — AFP/File KARACHI: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion…
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World food prices hit record high in 2022
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[ad_1] A woman shops for groceries at a supermarket in Monterey Park, California on October 19, 2022. — AFP PARIS: World food prices fell for a ninth month in a row in December, though they hit their highest level on…
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Climate change to hit 20% of GDP | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan needs a mammoth $348 billion in eight years – 800% more than the current annual budget – to stop climate-induced disasters. Climate change, however, has the potential to shave off one-fifth of the economy if no action…
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Remittances hit four-month low in Sept | The Express Tribune
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[ad_1] KARACHI: Remittances sent home by overseas Pakistanis slowed down to a four-month low at $2.44 billion in September 2022. The State Bank of Pakistan (SBP) reported on Tuesday that the receipts contracted 10.5% in September 2022 compared to inflows…
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Oil prices slide, hit 9-month lows | The Express Tribune
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[ad_1] NEW YORK: Oil prices hit nine-month lows on Monday in choppy trade, pressured by a strengthening dollar as market participants awaited details on new sanctions on Russia. Brent crude futures for November settlement fell by $1.09, or 1.3%, to…
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Chinese envoy expects trade to hit new highs | The Express Tribune
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[ad_1] LAHORE: Chinese Consul General Zhao Shiren has said that collaboration in various sectors of the economy between the private sectors of Pakistan and China can push trade to new highs and vowed that the Chinese Consulate will fully cooperate…
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Payment restrictions hit auto sector’s production | The Express Tribune
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[ad_1] LAHORE: Auto parts makers and vendors have started facing production challenges due to the restrictions imposed by the State Bank of Pakistan (SBP). The industry says it has been encountering a production crisis following the curbs put in place…
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Oil imports hit record at $2.2b in April | The Express Tribune
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[ad_1] KARACHI: Pakistan’s energy import bill hit a record high at $2.22 billion in April 2022, as the growth in demand was emerging partly from “speculative fuel buying” ahead of the likely decision by the government to increase petroleum prices….
