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Ogra proposes hike in petroleum prices

The prices of all petroleum products may go up from August 1, if the caretaker government accepts recommendations of the Oil and Gas Regulatory Authority (Ogra). In its summary, based on general sales tax, the Ogra has advised the government to raise Rs2.45 per litre in price of petrol, Rs2.70 ...

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Is Imran Khan’s economic vision achievable?

Imran Khan, chairman of the Pakistan Tehreek-e-Insaf (PTI) gestures while addressing his supporters during a campaign meeting ahead of general elections in Islamabad, Pakistan. Photo: Reuters The economic vision of upcoming prime minister Imran Khan is alluring. He aims to fight corruption, reform government spending and improve the lives of ...

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Air India gets default notices from banks, aircraft lessors: report

Photo: Reuters Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported on Monday, raising concerns about the government-owned carrier’s state of finances and credit-worthiness. San Francisco, United States-based Wells Fargo Trust Services and UAE’s state-owned ...

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Dollar falls by Rs5.86 as China lends $2b to Pakistan

Money dealers counts Pakistani rupees (R) and US dollars at a currency exchange in Islamabad on March 12, 2014. Photo: AFP The value of the dollar against the rupee in the interbank market went down by Rs5.86 as China granted a $2-billion loan to Pakistan. Pakistan has received $1 billion ...

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Business begins at Karachi cattle market

As Bakra Eid is coming close, the main maveshi mandi [cattle market] in Karachi has an influx of sacrificial animals. Set up on around 65 acres near Sohrab Goth on the Super Highway, the market is Asia’s biggest cattle market. The arrival of sacrificial animals continues to rise with each ...

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Iran’s rial hits record-low 100,000 to the dollar

Photo: AFP Iran’s currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full US sanctions. The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the ...

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Twitter shares plunge in black week for social media

Photo: AFP Twitter shares took a pounding on Friday after it reported a decline in its user base, extending a stock market bloodbath for what had been a sizzling social media sector. Shares in Twitter tumbled 20.5 percent to close at $34.12 despite a record profit for the short messaging ...

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