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Big business gives new govt a first 100-day economy cheat sheet

A list of things to do created by the Pakistan Business Council for whoever comes into power after the elections

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China counter-punches against US in growing trade war

China on Friday struck back against US President Donald Trump’s trade offensive, intensifying the expanding and unpredictable dispute between the world’s two largest economies. Late Friday, China announced it was expanding its existing complaint against the United States at the World Trade Organization, hours after the countries slapped tit-for-tat tariffs on billions of dollars of…

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China eyes eastern Europe investment as US trade war sizzles

As a trade war rages between China and the US, Chinese Premier Li Keqiang is meeting leaders from central and eastern Europe in Bulgaria on Saturday to discuss investment opportunities. Road and rail projects funded by China will be high on the agenda at the summit, which has raised concerns in Brussels and richer Western…

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Indian rupee hits all-time low against US dollar

The Indian rupee slumped to an all-time low against the US dollar on Thursday as the currency comes under increasing pressure from rising oil prices. The rupee, Asia’s worst performing currency according to Bloomberg News, fell to 69.10 against the greenback in early trade before recovering slightly to 68.93 later. India is a massive importer…

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Pakistan Eurobonds fall after rupee slump

Pakistan’s Eurobonds fell on Monday following what traders said appeared to be the country’s third currency devaluation in seven months. The 2027-maturing bond fell 0.75 cents to trade at 89.76 cents – the first time the bond had slipped below the 90 cent mark, Thomson Reuters data showed. A 2025 bond fell 0.61 cents as…

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The G7/G8: where the big powers meet informally

The G7, which ends a two-day summit in Canada on Saturday against a background of tensions, is an informal grouping of major powers created in 1975. Originally established as a vehicle for leading industrialised democracies to discuss the global economy, it has expanded its scope to issues such as peace, the environment and terrorism. Often…

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Starting a business in Pakistan is difficult: Youngsters

Youngsters in Pakistan believe that starting a business of your own is one of the difficult tasks in the country. They said that it’s not easy starting a business venture of your own in Pakistan as compared to the countries where it’s just a click away. The youngsters stated that it is easy to set…

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Pakistan seeks economic lifeline with fresh China loans

Pakistan expects to obtain fresh Chinese loans worth $1-2 billion to help it avert a balance of payments crisis, Pakistani government sources said, in another sign of Islamabad’s growing reliance on Beijing for financial support. Lending to Pakistan by China and its banks is on track to hit $5 billion in the fiscal year ending…

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1.5 C cap on warming could save global economy trillions

Failing to cap global warming at two degrees Celsius or less could cost the world economy tens of trillions of dollars over the next 80 years, researchers warned Wednesday. Four-fifths of countries and 90 percent of the global population stand to reap major economic benefits by avoiding costs linked to higher temperatures, they reported in…

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Shorter, hotter, earlier: Shrinking spring slashes Pakistani harvests

Adil Khan’s hopes for a good harvest are fading again this year as he inspects his orchard of apricot and loquat trees in the mountains of Pakistan’s northwest Khyber-Pakhtunkhwa province. Usually, fruit in the five-acre family orchard is ready to pick only by the last week of May. But this year, and in other recent…

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Ministry of Planning and Development aims to improve mineral sector productivity

A new initiative has been undertaken by the Ministry of Planning and Development to improve productivity in mines and improve the mineral sector as well as enhance exports.  Cluster Development Based Mineral Transformation Plan costs Rs 62.21 million has been launched under Vision-2025. According to the ministry, this would help create jobs in the mineral…

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Royal wedding a boost for Brexit-bound Britain

The royal wedding of Prince Harry and his glamorous fiancee Meghan Markle is a moment of light relief for a Britain weighed down by political, social and economic woes. With growth shrinking and the government riven over Brexit, Saturday’s wedding is set to provide a national boost and give people an excuse to party. Around…

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BISP and big business aim for rural jobs

People often have a nervous reaction to big business and government collaborating. But what if the private sector could reach into areas where they may be no jobs?    In the rural areas in Pakistan families often grow poorer because there aren’t enough ways to earn a living. Take Sajida from Renala, Punjab. Her husband was…

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Subdued US dollar pushes gold prices higher

Gold prices rose on Monday on the back of a subdued dollar as investors considered the prospects of fewer interest rate hikes in the United States this year. Spot gold was up 0.2 percent at $1,320.45 per ounce as of 0330 GMT, after marking the highest since April 26 at $1,325.96 in the previous session….

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Asian stocks continue positive zone on week last day

Asian markets built on the past week’s gains Friday following another rally on Wall Street as traders welcomed a below-forecast US inflation read that dampened expectations for a sharp lift in interest rates. While geopolitical tensions continue to linger after Donald Trump pulled out of the Iran nuclear pact this week, dealers were buoyed by…

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Pakistan, Afghanistan agree to boost economic ties

Pakistan and Afghanistan have agreed to put efforts for sustainable economic relations and to take steps to formalize economic activities between the two countries. The agreement was reached during a meeting between National Security Adviser Nasser Khan Janjua and a business delegation from Afghanistan in Islamabad. They discussed ways and means to promote bilateral economic…

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Why do we pay Rs.31 extra on per litre petrol?

The federal government is selling petrol for Rs.87.70/litre which costs it Rs.56.61/litre. It means the consumer is charged Rs.31.9 extra on every litre. Watch this report…

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Oil prices soar in Asian markets

Oil prices surged more than two percent in Asia on Wednesday after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty. Both main crude contracts have been rising in recent weeks to reach three-and-half-year highs on expectations the president would withdraw from the 2015 pact, which opened up…

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Increase in country’s exports positive development: FPCCI regional chairman

Chaudhry Muhammad Yusuf, the Regional Chairman of Federation of Pakistan Chambers of Commerce & Industries, has said that the increase in the country’s exports is a positive development for the country’s economy. He said that lowering imports would decrease the budget deficit and will also ease the burden over the foreign currency reserves. He also welcomed…

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Nearly half a million expats exit Saudi labour market in three months

As many as 466,000 expatriate workers left on exit visas during the last quarter of 2017. As many as 100,000 Saudi men and women entered the labor market during the same period, according to the General Authority for Statistics (GaStat). The authority, in a labor market bulletin, said that 3.16 million Saudi employees were working…

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Dubai stocks dive to 27-month low

Dubai stocks hit a 27-month low on Thursday on the back of sharp falls in the real estate market and a drop in liquidity levels. The Dubai Financial Market Index ended the day’s trading down 1.83 percent on 2,947.99 points breaching the 3,000-point psychological barrier. The Dubai bourse, the most exposed to the global markets…

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