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Intra-day update: rupee up 1.8% against US dollar

Intra-day update: rupee up 1.8% against US dollar

The Pakistani rupee registered significant gains against the US dollar, appreciating 1.8% in the inter-bank market during trading on Wednesday. At around 12:45pm, the rupee was being quoted at 271.42 during intra-day trading, an improvement of Rs4.86. The development comes as the market is optimistic that the IMF programme will resume soon, according to experts....

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Pakistan to repay foreign debt worth $22 billion in 12 months

Pakistan to repay foreign debt worth $22 billion in 12 months

PHOTO: FILE KARACHI: Amid efforts to dodge the imminent risk of default, Pakistan says it is due to repay foreign debt and interest worth almost $22 billion over the next 12 months. The dollar-strapped government, upon successful resumption of the International Monetary Fund (IMF) programme, is expected to initiate talks with creditors to restructure its...

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Gulf bourses mixed amid economic uncertainty; Egypt extends gains

Gulf bourses mixed amid economic uncertainty; Egypt extends gains

Gulf stock markets closed mixed on Tuesday, with Qatar’s bourse declining the most amid caution ahead of a U.S. Federal Reserve policy meeting. Financial markets expect the Fed will need to lift its benchmark rate above 5% and keep it there to squeeze too-high inflation out of an economy where the labor market remains strong...

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2nd General Assembly in Riyadh today: 13 DCO member states to discuss strategic directions, initiatives for digital prosperity

2nd General Assembly in Riyadh today: 13 DCO member states to discuss strategic directions, initiatives for digital prosperity

ISLAMABAD: The Digital Cooperation Organisation (DCO) will host the 2nd General Assembly in Riyadh, Saudi Arabia on Sunday (today) bringing together DCO member states to discuss strategic directions and initiatives to enable digital prosperity for all nations. The ministers representing the 13 DCO member states, along with high-level delegations from DCO observers, as well as...

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Saudi Arabian shares drop on lower oil prices; Egypt rises

Saudi Arabian shares drop on lower oil prices; Egypt rises

Saudi Arabian stock market closed lower on Sunday, in response to fall in oil prices on Friday amid concern about the European Union embargo on Russian refined products. Oil, which fuels the region’s growth, declined on Friday, with Brent crude ending down $2.23, or 2.7%, at $79.94 a barrel. Meanwhile, Saudi Arabia’s Energy Minister warned...

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IMF: The lender of everyone’s resort

IMF: The lender of everyone’s resort

The International Monetary Fund (IMF) headquarters building is seen in Washington, US. — Reuters/File Sri Lanka defaulted on its sovereign debts in April 2022. In July 2022, the International Monetary Fund (IMF) warned that 53 more low-and-middle-income countries, including Pakistan, were either experiencing debt trouble or were at high risk of doing so with few...

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DCO to host 2nd General Assembly in Riyadh

DCO to host 2nd General Assembly in Riyadh

The Digital Cooperation Organization (DCO) will host the 2nd General Assembly in Riyadh, Saudi Arabia, on the 5th of February, bringing together DCO Member States to discuss strategic directions and initiatives to enable digital prosperity for all nations. Ministers representing the 13 DCO member states, along with high-level delegations from DCO observers, as well as...