Tribune
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Inflation to stay in double digits | The Express Tribune
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[ad_1] ISLAMABAD: The federal government on Saturday approved 5% economic growth and 11.5% inflation targets for the next fiscal year as it faces the challenge of striking balance between growth and economic viability. Headed by Planning Minister Ahsan Iqbal, the Annual Plan Coordination Committee (APCC) set the current account deficit target for fiscal year 2022-23…
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US market rebound faces key inflation test | The Express Tribune
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[ad_1] NEW YORK: A rally that lifted US stocks from the brink of a bear market faces an important test next week, when consumer price data offers insight on how much more the Federal Reserve will need to do in its battle against the worst inflation in decades. Despite a rocky week, the S&P 500…
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Bears take centre stage, erase 1,547 points | The Express Tribune
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[ad_1] KARACHI: Bears took control of the Pakistan Stock Exchange and dominated trading during the outgoing week as jittery investors tried to look for positive cues amid growing concerns over the economic situation in the country. During the week, T-bill yields went up in the range of 55-75 basis points (bps) in the secondary market,…
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Elon Musk wants to cut 10% of Tesla jobs | The Express Tribune
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[ad_1] SAN FRANCISCO: Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters. A message sent to executives on Thursday laid out his concerns and told them to “pause all hiring worldwide.” The…
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Businessmen demand removal of trade hurdles | The Express Tribune
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[ad_1] PESHAWAR: Traders have stressed the need for taking pragmatic steps to remove hurdles in the way of regional trade, saying it is imperative to boost bilateral trade with the Central Asian Republics to enhance the country’s exports and earn huge foreign exchange for stabilising the national economy. Pakistan was losing foreign exchange owing to…
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Industry losing incentive to operate | The Express Tribune
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[ad_1] KARACHI: The recent hike in fuel prices by Rs60 per litre within a span of 10 days is going to adversely affect the business community as businesses are losing any incentive of operating in Pakistan due to the increasing cost of operation. Pakistan Businesses Forum (PBF) has rejected outright the historic increase in prices…
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Put economics before politics | The Express Tribune
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[ad_1] The PTI government chose to seek an IMF programme in October 2018 since the country's reserves were barely adequate to cover two months of imports. After three and half years when no confidence motion was writing on the wall for government, the country then had only two months of import cover left. To negotiate…
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Turkish inflation soars to 73% | The Express Tribune
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[ad_1] ISTANBUL: Turkey’s annual inflation rate jumped to a 24-year high of 73.5% in May, fuelled by the war in Ukraine, rising energy prices and a tumbling lira — though the figure was slightly lower than economists had feared. Inflation has surged since last autumn, when the lira slumped after the central bank launched a…
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Rupee falls 0.17% against dollar | The Express Tribune
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[ad_1] KARACHI: The rupee fell 0.17% to stand at 197.92 against the US dollar in the inter-bank market on Friday, compared with Thursday’s close of Rs197.59, according to the State Bank of Pakistan (SBP). The currency was recovering slowly after it hit a historic low at Rs202.01 on May 26 owing to delay in the…
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Traders promised conducive environment | The Express Tribune
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[ad_1] RAWALPINDI: Federal Minister of States and Frontier Regions Talha Mahmood has stressed that the top priority of the government is to create a conducive environment for the business community and asked the private sector to come forward and lend a helping hand to the government. The minister made the remarks after inaugurating the two-day…
