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Facebook forecasts rising ad sales despite dip in usage

LOS ANGELES: Facebook Inc offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed. The company said in an earnings report that quarterly revenue jumped 47 percent from a year earlier, and…

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Prices of petroleum products increased

ISLAMABAD: The government Wednesday revised the prices of petroleum prices for the month of February 2018 and decided to increase the price petrol by Rs 2.98 per litre to Rs 84.51. The new prices will be applicable from February 01, 2018, a statement issued by the ministry of Finance said. The price of High Speed…

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Karachi stocks get off to best start of year since 2007: Bloomberg

KARACHI: The equities in Pakistan are being viewed as the hot cake the world over as foreign investors have started snapping up their bargains in the country yet again. According to a report by Faseeh Mangi published in Bloomberg, the nation’s shares worth $91 million were purchased in the first month of 2018 so far…

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PM again rules out prospects of early elections in country

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has once again ruled out the prospects of early elections in the country and has advised his political adversaries to wait for the upcoming polls. In an interview with a private TV Channel, he said Pakistan Muslim League-Nawaz (PML-N) has delivered in the last four and a half years….

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On arrival visa facility to help attract investors, tourists: Ahsan

ISLAMABAD:Minister for Interior Ahsan Iqbal on Thursday said on arrival visa facility would help attract investors and tourists towards Pakistan. We desire to make Pakistan a “tourist friendly country” and such measures will promote tourism, besides attracting foreign investors, he said while talking to a private news channel. “Qatar had already announced its policy and…

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Pakistan to become hub of business: Dastgir

ISLAMABAD: Defence Minister Engineer Khurram Dastgir Khan on Monday said that confidence of local and foreign investors has restored due to positive policies of the government while national economy is strengthening day by day. Talking to Private news channel, he said China-Pakistan Economic Corridor (CPEC) was a big achievement of Pakistan Muslim League-N (PML-N) which…

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Here is how President Mamnoon saved millions of rupees of nation

President Mamnoon Hussain avoided the foreign trips and forestall a huge burden coming to the national exchequer. Watch this video.

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Pakistan has reasons not to fear after Trump freezes aid: analysts

ISLAMABAD: Washington’s freeze on billions in military assistance to Pakistan will have limited impact, thanks to its friendship with China and diminishing importance of aid to the economy, observers say — but there could be trouble if the US calls in its debts. Exasperated by what it considers Islamabad’s neglect in cracking down on militancy,…

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China welcomes use of Yuan for bilateral trade, investment activities in Pakistan

BEIJING: China Thursday welcomed the State Bank of Pakistan for allowing use of the Chinese Yuan for bilateral trade and investment activities and said it would create a sound financial environment for bilateral economic, trade and investment cooperation between the two countries. “We welcome this move and we believe it will create a sound financial…

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Venezuela raises minimum wage 40 percent, stoking world’s fastest inflation

CARACAS: Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation, reported Reuters. In his televised year-end address, leftist Maduro said the new wage level would protect workers against what he calls…

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China trade minister pledges easier market access for foreign investors

China’s Commerce Minister Zhong Shan speaks at the 11th World Trade Organization’s ministerial conference in Buenos Aires, Argentina December 11, 2017. REUTERS/Marcos Brindicci BEIJING: China will make it easier for foreign investors to access the country, protect their rights and ensure a fair and transparent investment environment, Trade Minister Zhong Shan said in comments published…

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May says 2018 Brexit progress will renew British pride

Prime Minister Theresa May said 2018 would be a year of “renewed confidence and pride” for Britain as it confronts the challenges of negotiating Brexit, in her New Year message out Sunday. Divorce talks between London and Brussels are set to move on to transition arrangements, trade and security next year as Britain prepares to…

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China tightens rules on oversea cash withdrawals

China has tightened rules on how much cash cardholders can withdraw overseas in a bid to clamp down on money laundering, terrorist financing and tax evasion, authorities said Saturday.  The annual limit will be set at 100,000 yuan ($15,355) per person from Monday — no matter how many cards a person has. Currently, there is…

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US oil prices end above $60 for 1st time in 2-1/2 years

US oil prices finished above $60 a barrel for the first time since June 2015 after new data suggested American producers were being cautious about ramping up output. The benchmark US contract, West Texas Intermediate for February delivery, climbed 58 cents to finish at $60.42 a barrel. Meanwhile, Brent North Sea crude for March delivery…

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SoftBank seals deal for large Uber stake, trimming valuation

Uber and SoftBank announced a deal Thursday allowing the Japanese tech titan to take a large stake in the US ridesharing giant, making a hefty cut in the valuation of the biggest venture-backed startup. SoftBank will own 15 percent of Uber’s equity following closing by acquiring shares from early investors, cutting the estimated value of…

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PM Abbasi says Pakistan is on path of prosperity

HASSAN ABDAL: Prime Minister Shahid Khaqan Abbasi Wednesday said Pakistan was now on the path of progress with a vibrant democracy and a strong economy and said higher standards in education would take the country further ahead on the path of prosperity. Addressing the 59th parent’s day event here at the Cadet College Hassanabdal, the…

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Signs point to strong US shopping season

Americans shopped with greater gusto at malls and online this holiday season amid a strong labor market and cold winter weather, retail sales experts said Tuesday. Shoppers in the world’s biggest economy spent generously over the “Black Friday” weekend in late November that kicks off the US holiday shopping season, and buying picked up further…

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Oil prices close at 2-1/2 year peak

Oil prices in New York jumped to a two-and-a-half year high Tuesday and briefly topped $60 a barrel due to a Libyan pipeline explosion and frigid weather in the US. The benchmark US contract, West Texas Intermediate for February delivery, rose $1.50 to $59.97 a barrel after earlier breaching $60 for the first time since…

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Cryptocurrency stocks holding gains despite bitcoin pullback

Stocks that surged in recent weeks because of the cryptocurrency mania have managed to hold onto most of their gains despite the recent retreat in the price of bitcoin and scepticism from market participants. A Reuters analysis of 17 stocks of companies that have made blockchain or cryptocurrency announcements showed an average gain of 224…

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Bitcoin plunges as investors suffer ‘reality check’

Bitcoin prices plunged by more than 20 percent on Friday as investors cashed out just before Christmas following the wildly volatile currency’s stratospheric rise in recent weeks. The precipitous drop came after a series of warnings by analysts and governments about a bubble that could burst at any moment as investors, many inexperienced, piled into…

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Inflation on the rise in Pakistan

ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on December 21 for the combined income groups increased by 0.16 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 226.00 points against 225.65 points last week, according to…

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