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Prime Minister Shehbaz Sharif has welcomed the World Bank’s $20 billion commitment under the new Country Partnership Framework (CPF) for Pakistan. This strategic partnership focuses on sustainable development, private sector growth, and building human capital, promising to address the nation’s long-standing economic challenges. Strengthening Pakistan-World Bank Relations Speaking at a ceremony in Islamabad, PM Shehbaz …
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Oil prices remain under pressure as uncertainty grows over the impact of U.S. President Donald Trump’s proposed tariffs and energy policies on global economic growth and oil demand. Despite recent losses, Brent crude futures edged up 18 cents to $79.18 per barrel, while U.S. West Texas Intermediate (WTI) rose 14 cents to $75.58. Analysts highlight …
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The National Assembly has revealed that high line losses and rampant electricity theft are the primary causes of prolonged load shedding in Karachi. Areas with 25-30% losses experience up to 6 hours of load shedding daily, while those with more than 30% losses suffer up to 10 hours. The government has claimed that the winter …
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The Pakistan Stock Exchange (PSX) faced another tough session on Wednesday as the KSE-100 Index plummeted by 1,598.82 points, or 1.39%. The index closed at 113,443.43, reflecting weak investor confidence due to economic uncertainty and regulatory concerns. During the session, the index reached an intraday high of 115,256.16 before falling to a low of 113,359.37. …
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Oracle’s shares soared nearly 9% on Wednesday following President Donald Trump’s announcement of a $500 billion artificial intelligence (AI) investment plan. The initiative, known as “Stargate,” aims to solidify the United States’ leadership in AI technology and infrastructure, with Oracle playing a central role alongside partners OpenAI and SoftBank. Massive Investment to Boost AI Leadership …
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KARACHI: Residents of Lines Area attacked K-Electric (KE) staff during an operation to disconnect illegal power connections, according to a KE press release. The attack occurred in Abysinia Lines (Lines Area) as KE teams worked to remove illegal electricity connections (kunda). Injured staff members were immediately taken to a nearby private hospital for medical treatment. …
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ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan to present a mini-budget following a revenue shortfall of Rs385 billion recorded between July and December 2024, according to sources. Prime Minister rejected the IMF’s recommendation, instructing the Federal Board of Revenue (FBR) to address the deficit through alternative measures. The FBR has already shared a …
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The Excise Department has launched an operation targeting non-custom paid (NCP) vehicles across Balochistan. The operation, which began on January 21, is being conducted in collaboration with local district administrations, Customs, and Police. The operation initially focuses on Quetta, Mastung, Sorab, Khuzdar, Kalat, Nushki, Turbat, and Nasirabad. Authorities plan to expand the campaign to other …
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The Reko Diq copper and gold project in Pakistan is expected to generate an impressive $74 billion in free cash flow over 37 years, according to Barrick Gold CEO Mark Bristow. Project Overview Reko Diq, located in Balochistan, is a joint venture between Barrick Gold (holding a 50% stake) and the governments of Pakistan and …
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Federal Board of Revenue (FBR) Chairman Rashid Langrial acknowledged ongoing corruption within the department on Tuesday. He made the admission during a briefing to the National Assembly’s Standing Committee on Finance. Langrial also shared details about new reforms to expand the tax base and curb illegal practices. FBR Implements Reforms to Tackle Tax Evasion Rashid …
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Pakistan made waves at the Future Minerals Forum (FMF) in Riyadh on January 17, presenting itself as a global mining powerhouse. The event showcased the country’s untapped mineral wealth through a captivating film, Beneath the Surface: Pakistan’s Mining Renaissance. The documentary highlighted Pakistan’s rich reserves of gemstones, non-metallic minerals, industrial minerals, metals, and rare-earth elements, …
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The State Bank of Pakistan (SBP) is set to reveal its much-anticipated monetary policy decision on Monday, January 27, 2025. The Monetary Policy Committee (MPC) will convene earlier in the day to deliberate on the policy direction. Governor SBP, Jameel Ahmad, will address a press conference after the meeting to announce the decision. This announcement …
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The dollar dipped, and global markets remained cautious as Donald Trump began his second term as U.S. President. Investors anticipate significant policy announcements in the coming hours, potentially shaping global economic directions. Meanwhile, Bitcoin hit a record high near $109,000, signaling growing optimism in the cryptocurrency market. Stocks Show Mixed Movements Global stocks opened the …
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Pakistani pilgrims performing Hajj in 2025 will collectively spend approximately Rs9.94 billion on sacrificial animals, according to sources within the Ministry of Religious Affairs (MoRA). Each pilgrim under the government Hajj scheme is contributing Rs55,500 for this religious obligation. Over 35,000 pilgrims have already deposited Rs1.94 billion for the sacrifice, demonstrating the organized efforts to …
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KARACHI: The Pakistan Stock Exchange (PSX) maintained its positive trajectory on Monday, as the benchmark KSE-100 index gained 572.73 points. The index closed at 115,844.82 points, up 0.5% from the previous session’s 115,272.08. The market witnessed a turnover of 675.04 million shares, up from 549.58 million shares in the last session. The value of traded …
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The stock market closed the week on a high note, signaling optimism for continued growth. Political unpredictability and rising crude oil prices caused fluctuations throughout the week, but appealing valuations and improving economic indicators helped maintain investor interest. Analysts anticipate strong financial results in the upcoming earnings season, further boosting market confidence. Positive Week-End Performance …
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A new cryptocurrency, $TRUMP, has taken the Solana blockchain by storm, achieving an $8 billion market cap within hours of its launch. Allegedly tied to President-elect Donald Trump, the coin has sparked both excitement and skepticism across the crypto community. Meteoric Rise on Solana The $TRUMP token, branded as the “Official Trump Meme Coin,” was …
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The International Monetary Fund (IMF) has downgraded Pakistan’s GDP growth projection for 2025 to 3%. The previous forecast, made three months ago, projected a growth rate of 3.2%. The revision was part of the IMF’s “World Economic Outlook Update.” The report focused on global growth trends and uncertainties. The IMF did not specify reasons for …
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Karachi, January 17, 2025 – The Pakistan Stock Exchange (PSX) and 1LINK (Pvt) Limited have entered into a strategic agreement to enhance the book building process by introducing advanced online payment solutions. The revamped Book Building System (BBS) will allow participants to make seamless payments exceeding Rs 1 million through the 1LINK 1BILL platform. This …
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On Thursday, the Pakistan Mercantile Exchange (PMEX) reported a total traded value of PKR 47.941 billion, showcasing significant activity in metals, energy, COTS (Cash Over-the-Counter Swaps), and indices. The volume of trades reached 33,319 lots, reflecting robust participation across various segments. Gold, as the leading commodity, contributed significantly to the day’s performance, reinforcing its position …
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Telenor Pakistan has teamed up with the Travel Agents Association of Pakistan (TAAP) to revolutionize connectivity for international travelers. The collaboration introduces the Travel SIM, offering seamless communication and affordable roaming solutions to travelers heading abroad. This innovative partnership promises to simplify connectivity while addressing the unique needs of Pakistani travelers. Affordable Connectivity for Travelers …
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Gold prices have maintained a bullish trajectory, benefiting from the Federal Reserve’s recent dovish stance. After hitting a five-week high earlier this week, the yellow metal eased slightly on Friday due to profit-taking. Despite this dip, gold remains well-positioned for gains, supported by expectations of further policy easing and weak U.S. economic data. Fed Rate …
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The Pakistan Stock Exchange (PSX) witnessed an electrifying trading session on Friday, with the benchmark KSE-100 index soaring by over 1,200 points in intraday trading. The index closed at 115,057.71, marking an impressive rise of 1,220.97 points (1.05%), reflecting newfound investor confidence. Key Drivers Behind the Rally The market’s upward trajectory was largely driven by …
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