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Pakistan’s rupee depreciation continued on Wednesday as the currency lost 29 paisa against the US dollar. The interbank rate fell to Rs284.96 amid a surge in import payments, profit repatriation by multinational firms, and looming external debt repayments. This weakening trend follows a brief gain earlier in the week. Rupee Falls After Brief Stability On …
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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 Uyghur Forced Labor Prevention Act (UFLPA) enforcement has intensified, with the U.S. Department of Homeland Security (DHS) adding 37 China-based companies to the Entity List for alleged involvement in forced labor. Among them, 26 operate in the cotton sector, posing significant compliance risks for apparel and textile importers. Businesses sourcing from these entities may …
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The Federal Board of Revenue (FBR) in Pakistan has issued a draft amendment to the Customs Rules 2001. The amendment focuses on updating temporary import rules for vehicles brought into Pakistan by foreign tourists. The FBR is seeking to introduce these changes to streamline the process and maintain proper regulatory oversight. Duty-Free Stay for Three …
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ISLAMABAD: Malaysian Prime Minister Anwar Ibrahim announced on Thursday that Malaysia will import halal meat and rice from Pakistan. He made this announcement during a joint media conference with Prime Minister Shehbaz Sharif. Their bilateral meeting focused on enhancing cooperation in several key areas, including trade, investment, agriculture, tourism, education, and defense. “As a result …
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