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Lagarde seizes ECB colleagues’ handsets
Move comes to prevent leaks after Reuters revealed bank would raise inflation forecast
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Australia LNG workers begin 24-hour strike
Ramp up industrial action that can see strikes extended until mid-Oct
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First Pakistani pharma firm to register in UAE
Searle gets approval, marks breakthrough for pharmaceutical exports
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Petrol, diesel witness massive price hikes
Interim govt jacks up petrol price by Rs40.93 per litre in just two gos
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Citigroup starts layoff talks after management overhaul
Bank still employs people with overlapping functions, say sources
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Iraq-Turkey oil pipeline ready to resume operations soon
Pipeline contributes about 0.5% of global oil supply
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Returns on NPCs increased
Raised by up to 6 percentage points on foreign and local currency-based bonds
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Rupee climbs to 1-month high
CAD shrinks, helps currency reach Rs296.85/$ in interbank market
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Senate panel denounces USC
Says subsidised goods are not available at outlets
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SPI drops for first time in 8 weeks
Sugar, chicken prices come down from recent peaks in week ended Sept 14
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Oil set for 3rd weekly gain
As supply tightens on Saudi production cuts, optimism on Chinese demand
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China-Pak forge closer ties in AI
Firms from both countries introduced their businesses, outlined requirements
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C/A deficit shrinks 79% over stagnant imports
Stands at $160 million as exports of goods and services improve
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Power Division told to reshuffle DISCOs CEOs
Senate panel chairman issues directives over allegations of mala fide actions, diminishing power sector’s capacity
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Tesla makes tech breakthrough in EVs
It will help Musk to achieve goal of halving production costs
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Pakistan may not ratify fisheries deal
Faces constitutional hurdle as interim govt cannot enter into long-term treaty
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Pakistan, Denmark discuss green energy
Discussion also covered opportunities, mechanisms for wind energy in Pakistan
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Dubai Aerospace flags corrosion in leased plane
Foreign lessors have been engaged in a legal tussle to repossess their aircraft
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Rupee surges to one-month high
As crackdown on currency smuggling continues, it records gains of 0.29%
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Venture capital fund to seek $1b investment
Govt setting up fund to channel global financing into startups
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Foreign currency reserves fall by $140m to $7.64b
SBP attributed the decline in forex reserves to debt repayments
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World needs $2.7tr for net zero emissions
Report says most countries are not on track to even meet emissions targets by 2030
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SBP surprisingly leaves rate on hold
Says inflation has peaked out, leaving no room for rate hike, at least for now
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SBP keeps policy rate unchanged at 22% against expectations
Bank says decision takes into account latest inflation outturn, reflecting continuous decline in trend
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IMF sets conditions for power bill relief
Asks govt to revamp power generation and end gas subsidies to CPPs
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G20: no progress on hot issues
Fails to announce funds for climate mitigation, make advances in AI regulation
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Pakistan-China tie-up in herbal medicines sought
PCJCCI chief stresses need for setting up specialised research institute
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Oil steadies as supply cuts face surprise
Build in US crude inventories offset expectations of tight crude supply for the rest of the year
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IFC doubles investment in Pakistan to $1.5b
Hopes to focus on MSMEs, infrastructure and export industry
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Tariff cut on US apples alarms Kashmiri growers
Indian govt reduces duty by 20%, puts growers’ livelihood at stake
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PSX prepares for 'largish IPO' as high interest rates loom
MD says three to four companies in queue to raise equity from PSX
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EU launches probe into Chinese EVs
Commission will have up to 13 months to assess whether to impose tariffs above the standard 10% EU rate
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SNGPL, Jazz clash over gas theft allegations
Contractor, hired to supply electricity to mobile tower, held responsible for gas theft
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Asia apparel hubs face $65b export hit
Extreme heat, flooding could erase earnings from four Asian countries by 2030
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Rupee recovers for sixth day in a row
Gains Rs1.07 and hits over 3-week high at Rs298.82/$
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World trade on rise despite tensions
WTO report doesn’t cover de-dollarisation of economies, its impact on trade
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Azerbaijan eager to explore more opportunities
Both sides expressed determination to bolster ties, focus on trade, connectivity, energy, tourism
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Auto sales rise 49% after end to import controls
Expert calls for formulating effective policies for swift recovery of auto sector
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Analysts anticipate hike of 150bps in key rate
Monetary Policy Committee will meet on Sept 14, 2023
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Govt increases RLNG prices for Sui companies
Prices raised for SNGPL, SSGC consumers by 2.79% and 3.08%, respectively
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UBL to sell entire stake in UNBL UK
Plans to establish currency exchange company in Pakistan
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Pak-Americans urged to 'confidently' invest
'Pakistan is ripe for investment' say Pakistan’s Ambassador to the United States Masood Khan
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Rupee strengthens below Rs300 to US dollar
Hits three-week high at Rs299.89/$ in the interbank market
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Hubco’s net profit soars 110% at Rs62b
Earnings driven higher by rise in sales, share of profits from associates
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Oil, gas production begins at Nashpa-11
Currently yields 830bpd of oil and 1.0mmscfd of gas
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Oil crisis brews as depots run dry
OMCs reportedly generated Rs12 billion due to inventory gains during recent increase in oil prices
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Crackdown on smuggling stabilises sugar prices
Govt to offer cash rewards for information on smugglers, hoarders
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BMW to invest $750m in UK plants
To take Mini brand all-electric in fresh boost to Britain’s car industry
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China to scrutinise bulk dollar purchases
Companies that need to purchase $50m will need PBOC approval
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US, Vietnam talk business on Biden visit
Senior executives sign multiple deals on chipmaking, EVs, planes and AI