Economy

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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MUMBAI: India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world's third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India,…
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KARACHI: The Pakistan Stock Exchange (PSX) crossed another milestone on Tuesday after it crossed the historic 60,000 points level. The KSE 100-index reached to 60,730.26 points by gaining 918.92 more points, a positive change of 1.54…
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DOHA: Qatar has agreed to supply Italian firm Eni with natural gas for 27 years, the Gulf emirate’s state-owned energy company announced, the latest in a series of major deals. Doha will supply one million tonnes of gas a year under the…
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LONDON: Brent oil futures steadied above $90 a barrel on Monday after passing the threshold on Friday, as investors waited to see if the Israel-Hamas conflict draws in other countries. Brent futures were down 39 cents, or 0.43%, at…
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