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Inflation war far from over, warns Fed’s Jerome Powell

Inflation war far from over, warns Fed’s Jerome Powell

The Federal Reserve’s Jerome Powell says inflation war is not over.  Says central bank may scale back pace of interest rate hikes in December.  Says it is a long way to go in restoring price stability. WASHINGTON: The U.S. central bank could scale back the pace of its interest rate hikes “as soon as December,”...

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Nepra all set to allow Rs9.98 per unit reduction in K-Electric’s power tariff

Nepra all set to allow Rs9.98 per unit reduction in K-Electric’s power tariff

ISLAMABAD-National Electric Power Regulator Authority (Nepra) is all set to allow K-Electric a reduction of Rs9.983 per unit in power tariff on account of monthly and quarterly adjustments. In a public hearing on the KE’s petition for monthly fuel charges adjustments for October, NEPRA has calculated a reduction of Rs 2.15/unit in tariff, while for...

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Import of GMO soyabean banned due to negative impact on health, environment, says minister

Import of GMO soyabean banned due to negative impact on health, environment, says minister

ISLAMABAD-Minister for National Food Security and Research Tariq Bashir Cheema on Wednesday said the government would never allow import of anything that had been banned abroad for being dangerous for human health and had environmental hazards. “Import of genetically modified organism (GMO) seeds of soyabean was banned into the country due to its negative impact...

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IMF directing to impose turnover tax in SEZs, Senate body told

IMF directing to impose turnover tax in SEZs, Senate body told

ISLAMABAD-The Senate Standing Committee on Industries and Production has been informed that the International Monetary Fund (IMF) is directing the government to impose turnover tax in Special Economic Zones, which earlier were declared exempted from taxes. The meeting of the Senate Standing Committee on Industries and Production was held at Parliament House on Wednesday under...

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FBR claims to exceed both five-month, monthly targets

FBR claims to exceed both five-month, monthly targets

Share: ISLAMABAD-The Federal Board of Revenue (FBR) has claimed to exceed both the five months target of Rs 2,680 billion as well as monthly target of Rs 537 billion despite import compression and zero rating on POL products. Federal Board of Revenue continues to demonstrate excellent performance in revenue collection for the fifth consecutive month...

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Stock market loses 24.96 points

Stock market loses 24.96 points

Share: ISLAMABAD – The 100-index of the Pakistan Stock Exchange (PSX) on Wednesday lost 24.96 points, a nominal negative change of 0.06 percent, closing at 42348.63 against 42373.59 points on the previous day. A total of 120,196,260 shares were traded during the day as compared to 139,207,699 shares the previous day, whereas the price of...

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Gold price declines by Rs400 per tola

Gold price declines by Rs400 per tola

Share: ISLAMABAD – The price of 24 karats per tola gold witnessed a decrease of Rs 400 on Wednesday and was traded at Rs 161,200 against its sale at Rs 161,600 the previous day. The price of 10 gram 24 karat gold also decreased by Rs 314 and was sold at Rs 138,203 compared to...

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Rupee gains one paisa against dollar

Rupee gains one paisa against dollar

Share: ISLAMABAD – The exchange rate of the Pakistani rupee appreciated by one paisa against the US dollar in the interbank trading on Wednesday and closed at Rs 223.94 against the previous day’s closing of Rs 223.95. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open...

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Dastgir inaugurates two new wind energy projects in Jhimpir

Dastgir inaugurates two new wind energy projects in Jhimpir

KARACHI – Federal Minister for Power Khurram Dastgir Khan said on Wednesday that every new wind power project launched in the Gharo-Jhimpir corridor of Sindh is a step forward towards achieving the national goal of producing cheaper and clean electricity through indigenous energy sources. He stated this after formally inaugurating two new wind energy projects...