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IMF approves eighth loan installment for Pakistan

IMF approves eighth loan installment for Pakistan

ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) on June 26, 2015 completed the seventh review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement. The Board’s decision enables the immediate ...

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Nandipur power plant to be fully operational soon

Nandipur power plant to be fully operational soon

ISLAMABAD: Managing Director Nandipur Power Project Muhammad Mehmood on Friday said that the 425 MW Nandipur Power Project would be fully operationalized shortly. Talking to APP here, the MD said that three units of the plant had already been commissioned ...

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US stocks move higher, pushing Nasdaq to new record

US stocks move higher, pushing Nasdaq to new record

NEW YORK: US stocks scored modest gains amid positive US and eurozone data as investors kept a wait-and-see attitude on Greece’s potential debt deal. The Dow Jones Industrial Average advanced 24.29 points (0.13 percent) to 18,144.07. The broad-market S&P 500 ...

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Nisab fixed for deduction of Zakat through banks

Nisab fixed for deduction of Zakat through banks

KARACHI: The State Bank of Pakistan on Tuesday fixed Nisab for the deduction of Zakat from bank accounts at the start of Holy month of Ramazan,. According to the SBP announcement, the Nisab has been set at Rs33,641. As per the ...

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China has four million millionaires: survey

China has four million millionaires: survey

BEIJING: China had four million millionaire households in 2014, the second-highest in the world after the United States, as the country’s stock market boom boosted private wealth, an independent survey showed Tuesday. One million new millionaires were created in the ...

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Oil prices drop on Greece, US output worries

Oil prices drop on Greece, US output worries

LONDON: Oil prices slid on Monday amid bearish news on US industrial output and a breakdown in Greece’s debt talks. Worries that US oil output is not declining and Saudi Arabia could further ratchet open its oil pumps also are ...

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Fazlur Rehman for interest free economy; self-reliance

Fazlur Rehman for interest free economy; self-reliance

ISLAMABAD: Jamiat Ulema Islam Chief Maulana Fazlur Rehman on Friday called upon the government for step to introduce interest-free economic system in the country and rely more on indigenous resources than borrowing from international financial institutions. Speaking in National Assembly ...

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Dar clarifies ‘misreporting’ in post-budget presser

Dar clarifies ‘misreporting’ in post-budget presser

ISLAMABAD: Finance Minister Ishaq Dar Saturday clarified that the government has imposed no new tax on basic commodities. Addressing the post-budget press conference in Islamabad this afternoon, he said that government has not increased prices of ghee, sugar, milk, pulses, ...

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Pakistan targets 4.3% fiscal deficit in FY16

Pakistan targets 4.3% fiscal deficit in FY16

ISLAMABAD: Pakistan has targeted a fiscal deficit of 4.3 percent of GDP in the 2015-16 financial year, down from 4.9 percent envisaged in 2014/15, Finance Minister Ishaq Dar told parliament on Friday as he unveiled the budget. Figures already released ...

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