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I respect every soldier of the country: Ahsan Iqbal

NEW YORK: Interior Minister Ahsan Iqbal said that he respects every soldier of the country, Samaa reported. Speaking to media in New York, Ahsan Iqbal stated that he did not mean to hurt anyone’s sentiments with his remaks and respected every soldier who is fighting for the country. He added that it will be better…

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Pakistan army poses no threat to democracy: DG ISPR

ISLAMABAD: Pakistan army chief spokesman Maj-Gen Asif Ghafoor on Saturday voiced his disappointment over Interior Minister Ahsan Iqbal’s remarks regarding latter’s comments on state of economy in the country. Addressing a press conference here, DG ISPR Maj-Gen Asif Ghafoor said that there was a lot of debate in media and political parties about his statements…

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Every Pakistani has the right to speak on the economy: Khursheed

SUKKUR: Leader of the Opposition in National Assembly said that every citizen has the right to speak on the economic situation of the country. While speaking to media on Saturday, the Pakistan People’s Party (PPP) leader – commenting on Interior Minister Ahsan Iqbal’s statements regarding the military – said that the army chief’s line of…

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Higher taxes for rich will not harm economic growth, says IMF

NEWS DESK: Higher tax rates for the rich would help reduce inequality without having a severe impact on economic growth, the International Monetary Fund has said, reported The Independent with additional reporting by Reuters. The influential organisation, which is based in Washington DC, has published its biannual fiscal monitor to voice its support for the…

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When Karachi bleeds, Pakistan bleeds: Gen. Qamar Javed Bajwa

KARACHI: Chief Of Army Chief General Qamar Javed Bajwa said on Wednesday that Karachi was extremely vital for Pakistan for economic reasons and said that when the largest city of the country bled, the nation bled with it.  The full text of the army chief’s speech on Seminar On Interplay Of Economy and Security is…

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Dollar treads water vs. yen with eyes on North Korea, euro extends gains

TOKYO: The dollar was little changed against the yen on Tuesday, with the market wary of potential North Korean provocations, while the euro extended gains following upbeat German data and hawkish-sounding comments from a European Central Bank official, reported Reuters. The greenback was steady at 112.670 yen. It had popped up to a near three-month…

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Mexico warns U.S. against ‘protectionist war,’ peso weakens

MEXICO CITY: Mexican officials warned on Thursday that U.S. proposals in ongoing NAFTA negotiations would result in protectionism and higher prices rather than free trade, as concerns about the future of the deal helped drag the peso to four-month lows, reported Reuters. Negotiators from Canada, Mexico and the United States are due to begin a…

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Awaiting better days, multinationals keep Venezuela units alive – barely

VALENCIA, Venezuela: Venezuelan auto worker Celso Nunez spends his days moonlighting as a mover and trading salvaged building materials in his worn-out red pick-up, reported Reuters. His employer, Ford Motor Co (F.N), does not mind. In fact, it is paying him to stay off the job. With Venezuela’s economy in shambles, Ford has furloughed Nunez…

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Asian shares edge up slightly after strong U.S. data

TOKYO: Asian shares were a tad firmer on Thursday, taking their cues from strong U.S. data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the U.S. economy are likely to keep investors cautious, reported Reuters. Japan’s Nikkei was almost flat while Australian shares ticked up 0.2 percent. MSCI’s broadest index of…

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Petrol, diesel prices increased

ISLAMABAD: The federal government has revised prices of petroleum products for the month of October. According to Ministry of Finance, prices of petrol, high speed and light diesel have been increased by Rs.2 per liter and kerosene oil by Rs.4 per liter. The new prices will be applicable from midnight. – Samaa

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Pakistan’s fastest retail economy to grow 50pc in five years to 2021

KARACHI: Pakistan’s burgeoning youth and their freewheeling attitude toward rising incomes have turned the nation into the world’s fastest growing retail market. Faseeh Mangi wrote in Bloomberg website, the market is predicted to expand 8.2 percent per annum through 2016-2021 as disposable income has doubled since 2010, according to research group Euromonitor International. The size…

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Trump warns hurricanes will hit US growth

President Donald Trump on Wednesday warned that a series of deadly hurricanes will trim US third quarter growth, hinting it may fall short of his three percent target. “GDP growth last quarter reached three percent, way ahead of schedule,” Trump said, as he unveiled ambitious tax cuts in Indiana. “This quarter, I believe, would have been…

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Inequality, low wages weaken global growth: IMF official

A hollowing out of the middle class in advanced economies like the US, amid weak wage growth and rising inequality, is holding back global growth, a senior IMF official said Monday. Tao Zhang, the International Monetary Fund’s deputy managing director, said the fund’s economic growth forecasts due out next month, will show little change in…

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GE to sell corporate jets in cost-cutting move

General Electric plans to sell its corporate jets in a cost-cutting move amid sluggish activity in key industrial divisions, a spokesperson said Wednesday. “As we have said, we are executing on a plan to take out $2 billion in cost by the end of 2018,” the GE spokesperson told AFP. “As part of that effort,…

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Time ripe to get benefit as CPEC making tremendous progress: Ahsan

ISLAMABAD: Minister for Interior Prof Ahsan Iqbal on Tuesday said China Pakistan Economic Corridor (CPEC) was making tremendous progress with the completion of infrastructure and energy projects and time was ripe to get benefits from the major initiative. The Chinese investment, technology and Pakistani location with low production cost combined together made a winning combination,…

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UK to help Pakistan overcome trade barriers: Joint Statement

ISLAMABAD: The United KingdoM (UK) Monday asserted that it would help Pakistan overcome trade barriers and take advantage of opportunities to create jobs and reduce poverty. “With more than 200 million consumers, Pakistan is an exciting market for British business,” said a joint statement issued after trade talks between UK Minister of State for Trade…

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Nawaz Sharif has ruined Pakistan’s economy: Bilawal Bhutto

DADU: Pakistan People’s Party chairman Bilawal Bhutto Zardari Sunday addressed a large gathering of his supporters Dadu city of Sindh. Bilawal paid a rich tribute to the people of Sindh, especially Dadu, for their role in movements against dictators and for the support of democratic forces. Charged Crowd is chanting “Aj tou hogae Bhutto Bhutto…

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Shehbaz Sharif plans to sell out Pakistan’s largest solar plant

First ever in the history of Pakistan, biggest ever Quaid-e-Azam Solar Park went out of the control of Punjab government; hence, it has decided to sell it out. A road show is being organized in London for the purpose. Punjab Chief Minister Shehbaz Sharif will conduct the show for a project that besmirched his name….

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Ishaq Dar is Pakistan’s economic hit-man, should resign: Imran Khan

NEWS DESK: After Nawaz Sharif, PTI chief Imran Khan has targeted Finance Minister Ishaq Dar. Demanding that he resign from his post, Imran said that there was more investment in the country during the tenures of former military dictator Pervez Musharraf and former president Asif Ali Zardari. He called Dar ‘Pakistan’s economic hit-man’. Watch this…

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Ishaq Dar to attend two events in Urumqi

ISLAMABAD: Finance Minister Ishaq Dar will attend the inaugural ceremony of the Central Asia Regional Economic Cooperation Institute and the second CAREC Think Tanks Development Forum at Urumqi, China on Thursday. The Minister is attending the events on invitation from his Chinese counterpart Xiao Jie. He will also have meetings with senior Chinese leaders and…

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HBL chief calls $630 mln US fine “disproportionate”

By: Zamir Husain Laghari KARACHI: Habib Bank Ltd (HBL), which is facing a possible penalty of up to $630 million by the US regulators has vowed to fight all 53 points included in the charge sheet it has received over ‘suspicious transactions’ from its New York branch. Addressing a news conference here, HBL President Nauman…

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