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China’s Alibaba invites businesses to trial AI chatbot
Source confirmed that application was an LLM targeted at business users
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Turkey seeks grain deal extension
Russia threatened to bypass UN-brokered deal unless obstacles to agri-exports removed
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Govt renews E&P licence to boost output
Also exempts Polish energy firm from relinquishing 10% licence area
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Despite increase in tariff, circular debt skyrockets to Rs2.6tr
Average per month increase during Jul-Feb FY22-23 was Rs52.4 billion
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Survey shows -22% confidence score
90% of businesses surveyed believe country is headed in the wrong direction
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Weekly inflation up by 0.92%
44.49% hike witnessed on year-on-year basis
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Dar pulls out of WB-IMF spring meetings
Cites deepening political uncertainty, developing judicial crisis in country as reasons
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Wall Street heads lower ahead of jobs report
Bond yields steady as investors digest weak labour data
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‘Pakistan always supported use of RMB’
Minister of planning says CPEC must for Pakistan’s economic growth, regional connectivity
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PIA seeks Rs45b bailout package
Also sought extension of 5-year government facility, ending on June 30, to pay interest costs
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NCCPL to collect 13% SST from PSX stockbrokers
ICB expresses interest in buying Silkbank shares worth €50 million
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Fertiliser players look to source gas from alternate networks
Hike in gas tariffs on SSGC, SNGPL networks causing disparity in urea prices
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Rupee recovers nearly Rs3.5 over Saudi assurance
Hits one-week high, closes at Rs284.42 against greenback
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ECNEC approves Diamer Basha project at Rs1.2 trillion
Cost saw an increase of Rs302 billion against original price due to rupee devaluation
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Ministry to approve E&P field plan
Govt delegates powers to petroleum ministry to accelerate exploration activities
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Rupee makes minor gains after govt meets final IMF condition
Local currency recovered to Rs284.25 per US dollar, ending its four days losing streak
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Centre spends ‘Rs710b’ on devolved ministries
WB says despite fiscal crunch huge spending contributing to higher public debt
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No solution to $27b Iraq energy deal yet
Country’s new govt wants 40% share in project
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LCCI protests policy hike
Says unprecedented increase will lead to rapid de-industrialisation
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Pakistan eyes higher textile exports to China
Hopes to capitalise on rising labour costs, zero textile export tariffs
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ECC approves Rs300m for repair of public buildings
Adopts new guidelines for import of animals and their products
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Pak Suzuki raises price for the fourth time
Prices of PSMC cars have increased up to Rs235,000, will come into effect from April 6
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Parco on verge of closure as diesel stocks jump
Rampant Iranian oil smuggling reduces demand for diesel supplies
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Despite rate hike, rupee slumps to new low
Currency market awaits resumption of IMF loan programme
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Govt meets another World Bank loan condition
Hopes to qualify for $450 million loan to bridge financing gap of $6 billion
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Investors withdraw $190m in Feb
Pull out capital from national saving schemes due to uncompetitive rate of return
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Cryptocurrencies and the Gig Economy: How freelancers can benefit from digital currencies
Learn why digital currencies are becoming increasingly popular as a payment method for freelancers
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‘Pakistan at risk amid critically low reserves’
Forecasts highest inflation, 2nd lowest GDP growth in 46 Asian nations
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Oil stable on demand woes
Investors weigh OPEC+ plans to cut more production
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SBP expects IMF revival, $10b reserves by June
Projected CAD to be below $6b for FY2023 – had earlier projected CAD at $9b
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Rupee plumbs new low at 287.29 vs dollar
Delay in inflow of foreign financing sparks some panic in currency market
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PSO’s receivables surge to all-time high of Rs742.3b
Claims Rs6.7 billion in losses against SNGPL for the supply of LNG
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‘Loans needed to avert debt crisis’
World Bank says economic shocks pushed 3.9 million into poverty in FY2023
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Industries face shutdown on prolonged gas suspension
Senior official at SSGC claims there was no curtailment of gas to industries
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Cement sales decline by 24.19% in March 2023
APCMA blames political noise, economic uncertainty for situation
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China’s reopening uplifts Asia growth outlook
Turmoil in global banking sector, war in Ukraine pose challenges
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Rupee hits all-time low at 288 against USD
Importers panic buy US dollars while supply of foreign currency in the interbank market is low
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Pak Suzuki extends plant shutdown
Closure due to shortage of inventory
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Utility MD accused of hiding Rs620m assets
FBR seeks explanation for not reporting assets held in Houston
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The power of policy: propelling PTVC’s growth
PTVC recently opened a bid to create OTT platform that will exclusively stream its original content
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OPEC+ cuts put $100/bbl oil back in sight
Announced further cuts of 1.16 million bpd from May
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Rupee just Rs0.05 away from all-time low
Loses 0.44% at Rs285.04 vs dollar in inter-bank dealings
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Analysts see 100-200 bps hike in policy rate
SBP’s monetary policy committee meeting today to decide on rate revision
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Trade deficit at $23b in nine months of FY23
Steeper reduction in imports was offset by dip in exports
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Rs6 hike for KE consumers likely
NEPRA reserves decision on tariff increase under quarterly adjustments
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Rs103b sanctioned for circular debt
The first tranche of additional power subsidies worth Rs335b agreed with IMF
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Politicians advised to mend fences to prevent economic meltdown
Business leaders urge both govt and opposition to mend bridges for sake of economy
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Tax reforms: swimming in a quagmire
Progressive taxation a humungous problem for political leaders just ahead of polls
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ICT exports to help in redemption from crisis
It is essential govt encourages investment by facilitating ICT entrepreneurs
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Pakistan’s oily disposition
It’s real reason of potential default as govt needs dollars for oil imports