Pakistan
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Eid ul Fitr 2023 holidays: How many days will banks remain closed in Pakistan?
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[ad_1] An undated image of the State Bank of Pakistan building. — AFP With only a few days left for the Eid ul Fitr — a religious festival celebrated by Muslims across the world — the State Bank of Pakistan (SBP) on Wednesday announced five-day holidays. According to a statement released by the central bank, …
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Pakistan shares $3bn ‘financing plan’ with IMF
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[ad_1] The International Monetary Fund (IMF) logo is displayed outside its headquarters in Washington, DC, on October 8, 2022. — AFP ISLAMABAD: In a bid to unlock the much-awaited International Monetary Fund (IMF) programme, the government on Tuesday shared its plan with the lender for securing an additional $3 billion to bridge the financing gap,…
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‘Avanceon, ZOMCO JV an opportunity for Pakistan’ | The Express Tribune
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[ad_1] KARACHI: In a major development for the Pakistani information technology (IT) industry, Avanceon Saudi for Energy Company, a subsidiary of Avanceon Limited, has entered into a joint venture with ZOMCO (Zamil Operations and Maintenance), a subsidiary of the Zamil Group, based in Saudi Arabia. The joint venture agreement is aimed at expanding the project…
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Price of gold jumps by Rs1,100 per tola in Pakistan
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[ad_1] A shopkeeper displays gold bars in this undated file photo. — AFP The price of gold in the domestic market increased again on Monday, a day after a major drop due to a decline in the international gold rate. The price of gold (24 carats) jumped by Rs1,100 per tola and Rs943 per 10…
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AIIB assures Pakistan of complete support
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[ad_1] The Asian Infrastructure Investment Bank building. AFP/File Appreciating the economic policies and reforms of the Pakistan Democratic Movement (PDM)-led government for the social uplift of the masses, the Asian Infrastructure and Investment Bank (AIIB) on Saturday extended its complete support and cooperation to the country. The development came during a virtual meeting between AIIB…
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What will be new petrol prices in Pakistan from April 16?
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[ad_1] A representational image of a petrol station staffer updating the fuel prices in Karachi. — AFP/ File KARACHI: The government is likely to jack up the price of petroleum products by Rs10-14 per litre for the next fortnight due to rising oil prices in global markets, The News reported citing sources. The price hike comes…
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Pakistan still half way to clinch staff-level IMF deal | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) said on Saturday that it was still waiting for “necessary financing assurances” for a successful conclusion of the review talks – taming expectations for a deal until Pakistan arranges the remaining $3 billion. In an early morning statement, Nathan Porter, IMF Mission Chief to Pakistan, said that the global…
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SBP chief says Pakistan striving to rebound strongly from ‘series of economic shocks’
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[ad_1] State Bank of Pakistan (SBP) Governor Jameel Ahmad addresses the Pakistan Sustainable Banking Conference in Karachi on November 9, 2022. — APP/File Pakistan’s economy has “always rebounded strongly after undergoing severe shocks” and the country will strive to rebound from the current economic challenges as well, State Bank of Pakistan (SBP) Governor Jameel Ahmad…
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Pakistan to get $300m from China today, Ishaq Dar confirms
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP Finance and Revenue Minister Ishaq Dar on Friday announced that Pakistan will receive $300 million from the Industrial and Commercial Bank of China (ICBC) today which will “shore up forex reserves”. “Out of Chinese Bank’s ICBC approved…
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Pakistan secures UAE’s confirmation for unlocking IMF deal
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[ad_1] An undated image of $100 and $50 dollar stacks placed on a table. — AFP ISLAMABAD: The United Arab Emirates (UAE) authorities have told the International Monetary Fund (IMF) it will provide financing to Pakistan, Finance Minister Ishaq Dar announced on Friday, rekindling hopes of an early signing of the agreement. “UAE authorities have confirmed…
