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Business

Benchmark index gains 730 points

KARACHI: (Web Desk) The Pakistan Stock Exchange has ended Tuesday’s session on a positive note, with the benchmark KSE-100 index gaining 728.65 points, or 1.63 per cent, by the close of the trading session to reach 45,394.06. Volumes were led by commercial banking stocks as the benchmark index staged a …

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Water shortage: management challenges

ISLAMABAD: (Web Desk) In its annual report, ‘The State of Economy: Agriculture and Water’, Shahid Javed Burki Institute of Public Policy explains how water constraints and its management issues have impacted, are impacting and would continue to impact the agricultural growth in the country. Setting the context, the report tells …

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Bloodbath at PSX: benchmark index sheds 1,900 points

ISLAMABAD: (Web Desk) The Pakistan Stock Exchange (PSX) saw a bloodbath Monday, with the benchmark KSE-100 Index shedding 1,900 points as uncertainty clouded the outcome of a Supreme Court-sanctioned probe into the Sharif family’s business dealings abroad. The benchmark index plunged 4.08 per cent, falling through the 45,000 level to …

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Pakistan still on radar of terror financing watchdog

ISLAMABAD: (Web Desk) Despite taking a few significant steps against terror financing, Pakistan remains on the radar of the Financial Action Task Force (FATF), an international watchdog tracking terror financing, over concerns that it is not fully complying with curbs against entities listed with the United Nations. Pakistani officials, however, …

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Saudi GDP falls for first time since financial crisis as oil output cut

RIYADH: (Web Desk) Saudi Arabia’s Gross Domestic Product (GDP) shrank from a year earlier in the first quarter of 2017 for the first time since the global financial crisis, but the private sector strengthened gradually, official data showed on Friday. GDP, adjusted for inflation, shrank 0.5 per cent year-on-year between …

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Govt looking for new FBR chief

ISLAMABAD: (Web Desk) The government is looking for a new chairman for the Federal Board of Revenue (FBR), an official told Dawn on Saturday. The incumbent, Dr Mohammad Irshad, is going to retire on June 30. Dr Irshad reached the pension age in April, but was given an extension until …

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Nepra faults K-Electric for power outages, initiates legal proceedings

ISLAMABAD: (Web Desk) An investigation by the power regulator has found serious shortcomings on part of K-Electric, including generation and distribution shortfalls which caused prolonged and unannounced electricity outages and sufferings to the people. The National Electric Power Regulatory Authority (Nepra) on Friday decided to initiate legal proceedings against the …

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Foreign investment surpasses $2bn in July-May

KARACHI: (Web Desk) Foreign direct investment (FDI) amounted to more than $2 billion in July-May, up 22.6 per cent from a year ago, reported the State Bank of Pakistan (SBP) on Wednesday. In 2015-16, FDI amounted to $1.903bn. It was less than $1bn in 2014-15. The improvement in FDI during …

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MFBs asked to use biometric technology

KARACHI: (Web Desk) Following a series of measures to curb money laundering and terror financing, the State Bank of Pakistan (SBP) asked all microfinance banks (MFBs) on Monday to use biometric technology for the verification of customers and complete this process by the end of 2017. In order to utilise …

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Tackling power crisis may cost govt dearly

ISLAMABAD: (Web Desk) The government may be heading towards a series of liquidity damages and swelling capacity payments as it works towards ending power cuts by the end of the year. Official documents seen by Dawn suggest that even though the government has lined up imported Liquefied Natural Gas through …

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