Economy

The World Bank expects Saudi Arabia's economy to contract by 0.9% in 2023, it said in a report, revising its growth forecast for the world's top oil exporter sharply lower on the back of production cuts and lower prices. Overall growth…
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BRUSSELS: The European Parliament has voted to roll over the rules on Generalized Scheme of Preferences (GSP) designed to help developing countries including Pakistan. After extension, GSP Plus regulations will now expire in 2027. The…
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ISLAMABAD: Caretaker Power Minister Muhammad Ali has said that gas will only be available for eight hours in the winters. Addressing a press conference, the minister said gas load shedding will be held this year as well amid depleting…
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European benchmark Brent North Sea oil struck $113.02 per barrel, the highest level since 2014, while New York-traded WTI hit a 2013 peak at $111.50.
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The government on Tuesday announced a major hike in prices of petroleum products citing an increase in the prices of crude oil in the international market. “The prices of petroleum products are showing a drastic increase in the…
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Britain on Friday said it had accepted changes proposed by Google to address competition and customer privacy concerns linked to online advertising, with the US tech giant vowing to apply them globally. "The commitments we have obtained…
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The US Justice Department announced Tuesday it had recovered more than 94,000 bitcoin stolen in 2016, currently valued at $3.6 billion, a record seizure. A couple accused of seeking to launder the bitcoin were arrested in New York, the…
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The EU launches a plan Tuesday to raise tens of billions of euros to boost semiconductor production in Europe and end the bloc's digital dependence on Asia. The production of semiconductors, also known as chips, has become a strategic…
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Ambassador of the Kingdom of Saudi Arabia in Islamabad Nawaf bin Saeed Al-Malkiy called on the Federal Minister for Economic Affairs Mr. Omar Ayub Khan in his office and discussed ongoing development projects and new initiatives. The…
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The International Monetary Fund (IMF) has approved 6th tranche of Extended Fund Facility programme for Pakistan, Finance Minister Shaukat Tarin said Wednesday. “I am pleased to announce that IMF Board has approved 6th tranche of their…
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Prime Minister Imran Khan on Wednesday expressed the confidence that his visit to China on Thursday would take the strong bilateral relations between the two countries to new heights. He expressed these views while chairing a high-level…
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ISLAMABAD, Jan 31 : Prime Minister Imran Khan Monday rejected a summary to increase the petrol price by Rs 10 per liter and diesel by Rs 14, in the national interest. The prime minister said that government would bear the burden of the…
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Engro Corporation Limited CEO Ghias Khan has become President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2022 term. “We are pleased to announce that Ghias Khan, President & CEO of Engro Corporation…
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The Executive Board of the International Monetary Fund (IMF) will now meet on February 2 for Pakistan's sixth review under the Extended Fund Facility (EFF), a media report said. The IMF website, which lists its Executive Board Calendar,…
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Europe's busiest airport in Istanbul delayed its reopening on Tuesday as Turkey's biggest city began digging itself out of a major snowstorm that paralysed traffic and disrupted services. A blizzard on Monday shut Istanbul Airport down…
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