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Italy promotes olive culture with €1.5m project
Sees potential in Pakistan to improve olive production, make exports
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100% increase in vehicle registration tax approved
Senate panel directs FBR to bring legislation in the form of a bill and not through ordinances
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Govt looking into ways to expand tax ambit
Also seeks other measures to bridge gap with IMF by end of month
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Venezuelan oil exports to Europe set to resume
Eni, Repsol to take Venezuelan crude to settle billions of dollars of unpaid debt
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Unilateral actions threaten WTO
Pakistan highlights lack of dispute settlement, ignorance of rules as challenges
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Bitcoin slides below $20,000
Investors worried about troubles in industry, pullback from riskier assets
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GM hikes Hummer EV price by $6,250
EV maker Rivian Automotive Inc has also raised prices on its pickup trucks by 20%
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German gas storage levels up slightly
Russia earlier this week limited supplies via the Nord Stream 1 pipeline to around 40% of its capacity
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China’s gasoline exports plunge 45.5%
Country exported 840,000 tonnes as companies ran short of quotas
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US economy has 40% chance of recession
US gross domestic product (GDP) growth to slow to almost zero by the second half of next year
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Experts term projections ‘fluid’
Stress political and economic situation requires efficient budget planning
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Stocks flat on mix of positive, negative news
Benchmark KSE-100 index edges up 126 points at 42,141
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Education startup aims to promote digital learning
Will help millions of high-school students learn essential subjects
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Research funds offered to pharma industry
Financing will help companies to address challenges, boost growth
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Traders advocate barter trade with Russia
Suggest surplus potato can be sold to Moscow in exchange for wheat
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Foreign investment contracts 29%
Political uncertainty makes investors hesitant who pour only $141.2m in May
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Naveena Steel lays the foundation for Nayi Soch to help build Naye Zamanay Ki Mazbooti
Naveena Steel's latest #NayiSoch campaign inspires Pakistanis to think about their choices
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Sony, Honda to sell electric cars
JV, first announced in March and named Sony Honda Mobility
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Oil slumps 5% on recession concerns
US dollar also pressures crude prices as it hits highest level against basket of currencies
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Honorarium policy stuck in limbo
Finance ministry withdraws policy from cabinet meeting at eleventh hour
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Pakistan, China ink MoU to boost agri-cooperation
Envoy says Chinese expertise has contributed to increased crop yield, pest control
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Workshop held to facilitate company registration
It was with the aim of fulfilling these expectations and facilitating end-users
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Five more incubation centres planned
Startups have raised $268m investment in first half of 2022
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FBR directed to resolve importers’ issues
Tax dept has no system to monitor POS terminals, Senate body told
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Rupee touches fresh record low at 208.75
Latest drop came after forex reserves depleted to 34-month lows
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Traders fear goods transportation crisis
Skyrocketing fuel, electricity prices will push up inflation, production cost
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SBP’s forex reserves fall $241m to $8.99b
Central bank gave no reason for decrease in reserves
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Pakistan seeks US help to revive IMF deal
Miftah, Aisha met Donald Blome, apprise him of govt actions
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Rupee free fall continues as dollar hits Rs209
The Pakistani currency has dropped 33% (Rs51) in the past one-year
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Digital banking transactions soar
Number of cash-based transactions, however, dipped in Jan-Mar, says SBP report
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Cabinet okays 10% duty on petrol
Earlier, motor spirit import was exempt from duty under China-Pakistan FTA
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Govt urged to control ‘dollarisation’
Businessmen call for swift measures to strengthen rupee
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Oil rebounds on new Iran sanctions
Supply concerns at forefront for energy markets that have seen prices soar
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Large industries grow 10.7%
Growth momentum may slow down next year as production cost swells
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NEPRA approves tariff hike of Rs1.55
Tariff revision comes under quarterly adjustment for Oct-Dec 2021
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Rupee hits all-time low at 207.67
Fed rate hike expected to strengthen dollar against world currencies
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IT export tax to hamper youth’s potential
Experts say 0.25% tax on proceeds will discourage exports, documentation
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Stocks maintain bullish streak
Benchmark KSE-100 index gains 291.37 points to settle at 41,730.16
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Dollar tops 208 in interbank trade as rupee slides further
Rupee's devaluation continues as conflicting reports about the revival of IMF loan programme plays on traders’ minds
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WTO makes final push for trade deals
Commerce minister sees no result from meeting due to lack of consensus
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Bitcoin sinks to fresh 18-month low
The world’s largest cryptocurrency fell as much as 7.8%
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ICCI concerned over tariff hike
Government should reconsider this decision to save the business and industry
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US wants to expand partnership
Trade between US and Pakistan reached $9b in 2021
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Conference calls for providing financial services
women’s economic empowerment was a key priority of the government
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Payment restrictions hit auto sector’s production
Industry needs prior SBP approval for import of certain goods
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No new tax imposed
Province, however, changed some tax ratios, particularly targeting luxury houses
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SBP urges banks to boost agri-financing
Banks disbursed Rs1.06tr in July-April FY22, down 1.4% from last year
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Senate panel rejects levies
Also seeks changes to proposals that will cut tax receipts from real estate
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Power tariff increased by Rs0.42
Revised tariff will apply to electricity consumers for three months
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Govt inks $197.5m debt suspension agreements
Amount will be repaid over period of six years