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Finance Minister Muhammad Aurangzeb said Pakistan is getting an “encouraging” response from China on its request to reprofile power sector debt. Speaking to Bloomberg at the IMF and World Bank meetings, he mentioned that discussions had started. So far, the response has been positive. However, he added that the talks are still in their early …
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Japan’s stock market saw a shares fall on Tuesday, with the Nikkei 225 falling by 1.39% as investors focused on upcoming national elections and key corporate earnings reports. Concerns about both domestic and U.S. political events contributed to the drop, while China’s markets showed marginal gains. China Sees Slight Gains Amid Earnings Season In China, …
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KARACHI: The Pakistan Stock Exchange (PSX) surged to a new all-time high on Tuesday, driven by strong post-26th Amendment gains. The KSE-100 index rose 409 points, or 0.48%, to close at 86,466, surpassing yesterday’s close of 86,057. Early in the day, the index reached a new peak, climbing 798 points to 86,846 during intraday trading. …
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ISLAMABAD: A Pakistani delegation briefed the International Monetary Fund (IMF) on Tuesday about the steps taken to expand fiscal space through tax and energy reforms. The delegation, currently in Washington, met with IMF’s Deputy Managing Director Kenji Okamura to highlight key measures aimed at improving the economy. According to a notification from the finance ministry, …
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KARACHI: The Sindh government has officially notified a new minimum wage of Rs37,000 per month for workers, effective from July 2024. sources reported the announcement on Tuesday. According to the notification, all industrial and business firms in the province must comply with the new minimum wage standard. Employers are required to ensure their workers receive …
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The recently passed 26th Constitutional Amendment Bill, 2024, has set a firm deadline of January 1, 2028, to eliminate interest-based banking (Riba) in Pakistan. The decision reflects a major shift towards an Islamic banking system, in line with religious principles. Moreover, the Jamiat Ulema-e-Islam-Fazl (JUI-F), led by Maulana Fazl-ur-Rehman, played a pivotal role in pushing …
Gold prices in Pakistan rose on Monday, according to data from FXStreet. The price per gram surged to PKR 24,325.02, compared to PKR 24,246.26 on Friday. Similarly, the price of gold per tola jumped to PKR 283,721.20 from PKR 282,803.60 on Friday. Gold prices for other units also saw an increase on Monday. For 10 …
The data from the International Labour Organization (ILO) highlighted, on October 18, 2024, the world’s top countries by GDP per hour worked. The measure, known as labor productivity, shows the efficiency of workers in producing output relative to hours worked. This data provides key insights into economic growth and human capital efficiency. Labor Productivity Overview …
In a significant move to tackle inflation, Punjab Chief Minister Maryam Nawaz Sharif has approved a new price control mechanism aligned with international standards. During a recent meeting, she ordered the establishment of a special monitoring unit (SMU) to be fully operational within six months. The meeting provided a comprehensive briefing on the new mechanism …
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At GITEX Global 2024, a significant discussion took place between H.E. Faisal Niaz Tirmazi, Pakistan’s Ambassador to the UAE, and Usman Asif, CEO of Devsinc. This meeting focused on the evolving IT landscape in the Middle East and highlighted the role of Pakistan’s tech sector in this transformation. During their conversation, they emphasized the need …
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