Tribune
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ECC members air concern over high electricity cost | The Express Tribune
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[ad_1] ISLAMABAD: Economic policymakers have aired serious concerns over the high cost of electricity generation by K-Electric (KE) and sought a detailed plan to slash the production cost. During discussions at a recent meeting of the Economic Coordination Committee (ECC),…
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Inflows help rupee recover against USD in interbank market | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency improved by Rs2.14 to Rs275.34 against the US dollar in the interbank market on Thursday morning after the IMF executive board gave final approval for the $3 billion loan program for Pakistan. Market reports suggest…
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Global investors plan to pour $7.1b into Turkey | The Express Tribune
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[ad_1] ISTANBUL: Members of Turkey’s International Investors Association (YASED) are planning $7.1 billion of direct investment in Turkey in the next six months, Chairman Engin Aksoy said on Wednesday. There are other international companies that want to invest in Turkey…
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Careem introduces mass-commute service | The Express Tribune
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[ad_1] KARACHI: In response to the mounting inflation rates plaguing Pakistan, companies and businesses are increasingly turning to mass-commute services as a viable solution for their transportation needs. Careem, a leading ride-hailing company, has recognised this demand and introduced a…
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Majority owners of offshore holding seek direct stake in KE | The Express Tribune
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[ad_1] KARACHI: The majority shareholders of an offshore holding company that owns most of Pakistani power company K-Electric said on Wednesday they have initiated legal proceedings to seek direct ownership of a stake in the utility. The power utility’s holding…
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Oil prices up by 2% to 10-week high | The Express Tribune
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[ad_1] NEW YORK: Oil prices jumped about 2% to a 10-week high on Tuesday, boosted by a falling US dollar, hopes for higher demand in the developing world and supply cuts by the world’s biggest oil exporters. Brent futures rose…
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Potential Pak-Russia oil deal runs into hitches | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Russia are unlikely to strike a long-term oil supply deal as talks between the two sides have run into hitches. Sources told The Express Tribune that Pakistan and Russia had agreed that a special purpose vehicle…
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Startup funding plummets by 95% | The Express Tribune
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[ad_1] KARACHI: The startup ecosystem in Pakistan has experienced a drastic decline in funding during the second quarter of 2023, marking its worst performance since Q1FY2020. Data Darbar reports that funding plummeted to a mere $5.2 million, reflecting a staggering…
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ECAP sees dollar dropping to Rs250 soon | The Express Tribune
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[ad_1] KARACHI: The Exchange Companies Association of Pakistan (ECAP) anticipates a gradual decline in the US dollar’s value to first Rs270 and subsequently to Rs250 following the disbursement of funds from the International Monetary Fund (IMF). The comments from ECAP…
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Fitch upgrades Pakistan’s rating to ‘CCC’ after IMF deal | The Express Tribune
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[ad_1] . Pakistan’s long-term foreign currency issuer default rating (IDR) received a boost as global rating agency Fitch upgraded it from ‘CCC-‘ to ‘CCC’ on Monday. The upgrade was attributed to enhanced external liquidity and improved funding conditions, which were…
