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Business

Exports to Afghanistan drop by over a quarter in a year

ISLAMABAD: (Web Desk) Pakistan’s exports to Afghanistan fell by a significant 27 per cent over the past one year, thanks to growing mistrust between the two countries as well as downgrade of Nato presence in the war-ravaged nation. According to officials on Friday, the worsening law and order situation in …

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Setting up oil marketing companies likely to cost Rs7bn

ISLAMABAD: (Web Desk) After facilitating a selective few, the government is contemplating to increase the cost of opening new oil marketing companies (OMCs) by 14 times – from Rs500 million to at least Rs7 billion – to limit their mushroom growth. This comes following the opening of floodgates by Oil …

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Pakistan’s trade deficit widens to record $30bn

ISLAMABAD: (Web Desk) The country’s trade deficit ballooned by 42 per cent year-on-year to an all-time high of $30 billion in the first 11 months of the current fiscal year on the back of falling exports and a sharp increase in the import bill. The country’s annual trade deficit was …

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SNGPL, Ogra under pressure to allow new gas connections

ISLAMABAD: (Web Desk) Despite acute gas shortages, the Sui Northern Gas Pipelines Limited (SNGPL) and the Oil & Gas Regulatory Authority (Ogra) are under extreme pressure to allow launching new gas connection schemes in various constituencies across Punjab and Khyber Pakhtunkhwa. Sources told Dawn that the cost of these schemes …

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SBP issues fresh AML guidelines

KARACHI: (Web Desk) The State Bank of Pakistan (SBP) has issued fresh guidelines to combat money laundering and financing of terrorism in line with the United Nations Security Council (UNSC) resolutions. Pakistan has been under pressure over the issue of money laundering as the Federal Investigation Agency (FIA) keeps arresting …

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Airline industry sees higher profits in 2017

ISLAMABAD:(Web Desk) The International Air Transport Association (IATA) increased its profit forecast for the global airline industry Monday, citing surging demand. Total profits for the group’s 275 member airlines are now expected to hit $31.4 billion this year, up more than five per cent from the previous forecast late last …

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Stocks close flattish after range-bound session

ISLAMABAD: (Web Desk) The Pakistan Stock Exchange ended Tuesday nearly flat, with the benchmark KSE-100 index gaining only 23 points, or 0.05 per cent, by the close of trading session to reach 50,144. The index had tested the day’s high at 50,311 points and the day’s low at 49,920 points …

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