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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) is expected to approve a Rs2 per unit reduction in electricity tariff under fuel cost adjustment (FCA) for January 2025. The Central Power Purchasing Agency Guarantee Limited (CPPA-G) has submitted a petition proposing a refund of Rs2.32 per unit to consumers. CPPA-G Seeks Approval for Tariff Reduction …
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Gold prices in Pakistan surged again, reaching a record high on Thursday, February 20, 2025. According to the Pakistan Sarafa Market, the price of 24K gold per tola is now Rs. 309,000, marking another significant increase. The rate for 10 grams of 24K gold stands at Rs. 264,922.2, while the 1-gram gold rate is Rs. …
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The Pakistan Stock Exchange (PSX) continued its rally, fueled by surging oil prices, foreign investment pledges, and hopes for further monetary easing. Investor confidence strengthened as the KSE-100 Index climbed 253.96 points, closing at 113,342.43, with the keyword “economic optimism” driving market sentiment. Key Gains in KSE-100 Index The KSE-100 Index reached an intraday high …
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Karachi: International Workplace Group (IWG), the world’s leading provider of hybrid working solutions, has announced the launch of Regus The Centre, Karachi. The new flexible workspace will cater to businesses of all sizes. It is set to open in June 2025. The 1,100 sqm facility is part of IWG’s rapid expansion, driven by increasing demand for …
Gold prices in Pakistan surged to an all-time high on February 19, 2025, reflecting a significant rise in both local and international markets. The price of 24-karat gold per tola reached Rs. 308,000, marking an increase of Rs. 3,800 in a single day. The 10-gram price of 24K gold also jumped to Rs. 264,060, while …
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Gold prices are climbing again in both international and local markets, driven by ongoing global economic uncertainty. In the international bullion market, gold per ounce increased by $10, reaching $2,910. Meanwhile, in local markets, gold per tola rose by Rs 1,000, bringing the new price to Rs 304,200. This trend reflects growing demand for gold …
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The chairman and members of the National Electric Power Regulatory Authority (NEPRA) have awarded themselves a shocking 220% pay raise. They did this without approval from the federal cabinet, sources told Geo News. According to NEPRA insiders, officials increased their salaries to between Rs2 million and Rs2.2 million. They bypassed the mandatory approval process. The …
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The government plans to privatise up to 50 state-owned enterprises (SOEs) over the next three to four years. Minister for Economic Affairs Ahad Cheema shared this update during a meeting with a World Bank delegation on Monday. Cheema met with Executive Directors (EDs) and Alternate Executive Directors (AEDs) from the World Bank Group (WBG). The …
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Ambassador Faisal Niaz Tirmizi, Pakistan’s Envoy to the UAE, inaugurated the Pakistan Pavilion at Gulfood 2025. The event, held at the Dubai World Trade Centre from February 17-21, is one of the world’s largest food and beverage trade exhibitions. It features over 5,500 exhibitors from 129 countries. Consul General Hussain Muhammad and Trade & Investment …
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Chinese President Xi Jinping met with top business leaders, including Alibaba co-founder Jack Ma, on Monday. The meeting, held at Beijing’s Great Hall of the People, signals potential reconciliation between the government and private enterprises. This comes as China faces economic challenges such as a real estate crisis, low consumption, and high youth unemployment. Private …
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Gold prices in Pakistan rose on February 16, 2025, reflecting global market trends. The price of 24-karat gold per tola reached Rs302,200, increasing by Rs1,700. The price for 10 grams of 24-karat gold climbed to Rs259,945, showing a rise of Rs1,458. For 22-karat gold, the price stood at Rs238,283 per 10 grams. International Gold Prices …
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A high-level delegation of nine Executive Directors (EDs) from the World Bank Group (WBG) has arrived in Pakistan after nearly 20 years. The delegation will discuss Pakistan’s economic development plans, investment opportunities, and strategies for implementing the recently approved $40 billion Country Partnership Framework (CPF) for the next decade. Meetings with Top Government Officials The …
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Retail rice prices remain high in major cities despite a significant drop in paddy and export rice prices, according to the Vietnam Food Association. The association’s data shows paddy prices have fallen 40-50% year-on-year, while Vietnam’s 5% broken rice hit a nine-year low at $395 per ton on February 14. Drop in Export Prices Vietnam’s …
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The Pailot app, a logistics and Web3 innovation within the Pi Network, is ready to go live on the Mainnet. With Pi Network’s Open Mainnet launch set for February 20, 2025, excitement around this launch and the Pi coin’s growing ecosystem is mounting. Pailot’s Role in the Pi Network Ecosystem Pailot combines decentralized logistics with …
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Gold and silver prices saw a decline on Saturday, February 15, 2025. Both local and international markets recorded a downward trend. Gold Prices Fall The price of 24-karat gold per tola dropped by Rs. 4,700, settling at Rs. 301,500. The price of 24-karat gold per 10 grams also fell by Rs. 4,030, bringing it down …
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Elon Musk has announced plans to partner with Dubai authorities to build a “Loop” underground road network, aiming to transform urban transportation in the congested city. This project, inspired by Musk’s Boring Company system in Las Vegas, could dramatically reduce traffic and enhance mobility for Dubai’s 3.6 million residents. What is the Dubai Loop? At …
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FrieslandCampina Engro Pakistan Limited (FCEPL) has released its financial results for the year ending December 31, 2024. The company recorded a 7% increase in net sales, reaching Rs. 107 billion. Strong brand initiatives and growing consumer awareness fueled growth in the first half of the year. However, an 18% sales tax on packaged UHT milk, …
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The European Union will invest €50 billion to accelerate AI innovation, aiming to strengthen its position in the global AI race. Commission President Ursula von der Leyen announced this initiative as part of the InvestAI program during the AI Action Summit in Paris. The keyword “AI innovation” underscores Europe’s push to lead in trustworthy AI …
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Islamabad: Pakistan and Turkiye signed 24 agreements, Memorandums of Understanding (MoUs), and protocols on Thursday to boost cooperation in various sectors. The signing ceremony took place at the Prime Minister’s House in Islamabad. Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan attended the event. Officials from both countries exchanged the agreements to deepen …
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US inflation jumped unexpectedly to 3% in January, reaching its highest level in six months. The rise exceeded the 2.9% predicted by economists, increasing concerns about the cost of living. Price hikes in food and energy played a key role, leaving many Americans facing growing financial pressure. Food and Energy Drive Price Increases Higher food …
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Karachi: Federal Finance Minister Muhammad Aurangzeb said the International Monetary Fund (IMF) has praised Pakistan’s economic reforms and growth efforts. He highlighted macroeconomic stability as a key achievement of government policies. Aurangzeb shared insights from his meeting with IMF Managing Director Kristalina Georgieva. He said the IMF acknowledged Pakistan’s efforts in implementing reforms under its program. …
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The exchange rate of the Pakistani Rupee (PKR) against the US Dollar (USD) saw a slight depreciation on February 12, 2025, indicating a minor shift in currency values. On February 12, 2025, the US Dollar was trading at approximately Rs. 279.5 in the open market. The selling rate stood at Rs. 281.2, reflecting an increase …
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The Federal Board of Revenue (FBR) has updated its criteria for valuing various types of properties in Karachi, including commercial, industrial, residential, high-rise buildings, and amenity plots. These updates, outlined under Statutory Regulatory Order (SRO) 144(I)/2025, aim to standardize property valuations in the city and align them with current market conditions. Valuation Based on Covered …
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