Economy

WASHINGTON: US President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three US trading partners.…
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ISLAMABAD: An International Monetary Fund (IMF) mission and Pakistan have made significant progress towards reaching a staff-level agreement for an extended fund facility, the global lender said,  however, its mission returned to Washington…
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ISLAMABAD: The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan on the final review of a $3 billion bailout. Under the agreement, subject to approval of the IMF’s Executive Board, Pakistan will have…
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TOKYO: The Bank of Japan (BOJ) ended eight years of negative interest rate on Tuesday, making a historic shift away from its focus on reflating growth with decades of massive monetary stimulus. The shift makes Japan the last central bank…
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ISLAMABAD: Prime Minister Shehbaz Sharif sought a final implementation schedule for the privatization of Pakistan International Airlines (PIA). He was chairing a high level meeting on the PIA’s privatization and restructuring of the…
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ISLAMABAD: China has rolled over a $2 billion loan to Pakistan, caretaker finance minister Shamshad Akhtar confirmed in Thursday. The $2 billion loan was due in March and has been extended for one year, local media reported citing…
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BENGALURU: Embattled digital payments firm Paytm CEO Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank unit, as part of a major board overhaul that follows a central bank clampdown. The…
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KARACHI: Leading automaker Indus Motor Company Limited announced an investment of around Rs3 billion (approx. $10.76 million) for enhancing the localization of production. The company, the maker of Toyota-brand vehicles in the country,…
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ISLAMABAD: Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help the incoming government repay billions in debt due this year. According to Bloomberg News citing a Pakistani official,…
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TOKYO: Japanese stocks raced to a record peak on Thursday, breaking levels last seen in 1989 during the halcyon days of the bubble economy, as cheap valuations and corporate reforms lure foreign money looking for alternatives to battered…
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McDonald's reported its first quarterly sales miss in nearly four years on weak sales growth at its international business division, partly due to the conflict in the Middle East, sending the company's shares down about 4%. The burger…
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BEIJING: Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on and announced it was aiming to become one of the world's top five automakers. The sedan, dubbed the SU7 with the SU short for Speed Ultra, is a…
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WASHINGTON: Toyota Motor said it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed. The recall covers 2020 through 2022 model year vehicles including various…
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Pakistan Telecommunication Company Limited (PTCL) has signed a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan Ltd (TPL) to buy 100% of TPL’s shares, based on an Enterprise Value of Rs108 billion. According to…
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ISLAMABAD: The Asian Development Bank (ADB) has approved three projects amounting to $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development. The projects would focus on improving…
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