Economy

ISLAMABAD: The federal government on Friday announced that it has appointed Brigadier (retd) Shuja Hassan as the new chief executive officer (CEO) of Pakistan Steel Mills. "The Federal Government has been pleased to appoint Brig. (retd)…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal by the Ministry of Energy for revision of prices of petroleum products on fortnightly basis instead of the existing monthly basis. The ECC chaired…
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Gold prices soared in Pakistan and around the world on Monday, as the spike in coronavirus cases in the US and other countries as well as recent tensions between Beijing and Washington saw the price of the metal increase to a record number.…
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DHAKA: Bangladesh opted for Pakistan’s onion supplies in November 2019 after India imposed a ban on its export, a media report said. This was the first time that Bangladesh imported agriculture items from Pakistan in the last 15 years.…
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An Indian court has summoned Alibaba and its founder Jack Ma in a case in which a former employee in India says he was wrongfully fired after objecting to what he saw as censorship and fake news on company apps, documents seen by Reuters…
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Pakistan has signed two financing agreements valuing US$ 750 million with the World Bank (WB) and the Asian Infrastructure Development Bank (AIIB) for the Resilient Institutions for Sustainable Economy (RISE) program. The World Bank will…
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AFP: Airlines strapped for cash due to the ongoing COVID-19 pandemic have begged for help from customers and voiced fear that they could go bankrupt as it is becoming increasingly difficult to pay back clients for cancelled flights. "We…
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More than 60,000 new COVID-19 infections were reported on Wednesday and U.S. deaths rose by more than 900 for the second straight day, the highest since early June
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Malaysia’s aviation regulator has temporarily suspended pilots employed by domestic airlines who hold Pakistani licences, after the government of the South Asian nation revealed that many pilots had dubious qualifications. The Civil…
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Irregularities found in pilot licences at Pakistan International Airlines (PIA) represent a “serious lapse” in safety controls, global airlines body IATA said on Thursday after the carrier grounded one third of its pilots. “We are…
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Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has said that the government is aiming to improve the business environment in the country by providing ease of doing business and facilitating businesses by…
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The government has reduced the price of petrol by Rs7.06 per litre for the month of June, according to a statement issued by the Ministry of Finance on Sunday. According to the statement, the price of kerosene has been reduced by Rs11.88…
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The Economic Coordination Committee of the Cabinet on Saturday approved the criteria for disbursement of Rs.200 billion in power sector received through Islamic Sukuk. According to the decision made by the forum energy purchase price…
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By Zahid Hussain Khan A parallel economy is one that runs opposite to a formal or official economy. In a parallel economy, the goods and services produced are not brought under the tax net hence the government tends to be the loser at…
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President Donald Trump voiced hope Friday that a coronavirus vaccine will be available by late 2020, cushioning dire US economic news as parts of Europe re-open despite fears of a second wave of the pandemic. Several nations have eased…
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