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US, UK, China remain Pakistan’s top three destinations of exports

The State Bank of Pakistan (SBP) said that the United States (US) remained the top export destination of Pakistani products during the first five months of the current financial year (2019-20), followed by the United Kingdom (UK) and China. The total exports to the US during July-November (2019-20) were recorded …

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Stocks gain 1,166 points as US-Iran war clouds dissipate

Stocks rebounded on Thursday with the KSE-100 index recouping 1,165.51 points (2.74 per cent) from the losses of 547 points suffered a day earlier. At the closing of the day, the index settled in the green at 42,523.07, as the risk of an all-out war breaking out between the United …

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World Bank revises Pakistan’s growth projections downward

ISLAMABAD: The World Bank on Wednesday slightly lowered country’s growth rate projections for the current fiscal year and next two years owing to continuation of tight monetary policy and fiscal consolidation coupled with external factors. In its latest report “2020 Global Economic Prospects” released on Wednesday, the bank forecast Pakistan’s …

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Huawei says ‘survival’ top priority as sales fall short

Chinese telecommunications giant Huawei said Tuesday that “survival” was its top priority after announcing 2019 sales were expected to fall short of projections as a result of US sanctions. Huawei, a global leader in telecom networking equipment, has been effectively banned by the United States from working with American firms …

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Economy: Talking the big talk

It was a careening year for the economy. At the start of 2019 there was mounting anticipation around the future direction the government was going to adopt as the foreign exchange reserves continued to slide, borrowing from “friendly countries” was in full swing, the IMF negotiations were not moving forward …

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Pak-China FTA Phase-II comes into effect

ISLAMABAD: The Phase-II of Pakistan-China Free Trade Agreement (FTA) came into effect on Wednesday after the issuance of the Statutory Regulatory Orders (SRO) to implement the protocol agreed between the two countries. According to a statement released, in order to implement the agreed protocol it has “transpose the offer list …

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Govt to evaluate Etisalat’s proposal for settlement of $800m payment

UAE telecom company Etisalat has submitted a framework of settlement to the government for the long-outstanding payment of $800 million against shares of the Pakistan Telecommunication Company Limited (PTCL). Etisalat had, on June 18, 2005, acquired 1.36 billion shares or a 26 per cent stake in PTCL for $2.598 billion. …

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