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Saudi to post massive budget deficit: IMF

Saudi to post massive budget deficit: IMF

RIYADH: OPEC kingpin Saudi Arabia is forecast to post a budget deficit of 20 percent of gross domestic product because of the sharp decline in oil revenues, the IMF said Tuesday. “Government spending in 2015 is expected to remain strong, ...

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KPK budget session on June 13

KPK budget session on June 13

PESHAWAR: The annual budget for fiscal year 2015-16 will be presented in the Provincial Assembly of Khyber Pakhtunkhwa on Saturday at 03:00 PM. KPK’s annual budget will be presented in the house on June 13 for financial year 2015-16, According ...

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sia shares slip on Greek woes, focus turns to China PMI

sia shares slip on Greek woes, focus turns to China PMI

TOKYO: Asian shares slipped early on Monday as persistent fears about Greece’s precarious financial situation and downbeat U.S. data sapped confidence. Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a ...

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Govt raises petrol, diesel prices

Govt raises petrol, diesel prices

ISLAMABAD: The government has increased prices of all petroleum products by up to Rs.3.50 per litre for the month of June, Finance Minister Ishaq Dar announced the price hike, saying that government would provide Rs. 6 billion subsidy on petroleum ...

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Summary sent for raise in petroleum prices

Summary sent for raise in petroleum prices

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) on Friday sent a summary to Prime Minister for approval to raise prices of petroleum products in Pakistan. According to summary, raise in prices of petroleum products is expected upto 13.96 rupees. OGRA has ...

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Punjab CNG stations to open today after seven months

Punjab CNG stations to open today after seven months

ISLAMABAD: The Compressed Natural Gas (CNG) filling stations across Punjab are set to reopen on Friday. Official said the stations would use Liquified Natural Gas (LNG) and remain open till June 6 without any break. The gas will be available for ...

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Oil prices edge up after two days of steep falls

Oil prices edge up after two days of steep falls

SINGAPORE: Crude oil prices recovered on Thursday after a two-day slide, although high U.S. stocks and strong global production, along with a firm dollar, were keeping markets under pressure. The gains followed two days of steep falls as a resurgent ...

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Asia up after Wall Street sets record high

Asia up after Wall Street sets record high

TOKYO: Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the dollar steadied after losing ground to the euro for the first time ...

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Dollar up for third day, eyes on Fed and Greece

Dollar up for third day, eyes on Fed and Greece

LONDON: The dollar touched a three-week high against the euro before halting on Wednesday, a third day of gains adding to a growing sense the U.S. currency may be ready for another run higher after its weakest period in four ...

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China-backed AIIB founding members to meet in Singapore

China-backed AIIB founding members to meet in Singapore

SINGAPORE: Founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) will hold a three-day meeting in Singapore this week to discuss operational policies for the establishment of the institution. The gathering, called the 5th chief negotiators’ meeting, will also ...

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