pakish

Pakistan won’t default on debts despite floods, says Miftah

ISLAMABAD: Pakistan will “absolutely not” default on debt obligations despite catastrophic floods, the finance minister said on Sunday, signalling there would be no major deviation from reforms designed to stabilise a struggling economy. Floods have affected 33 million Pakistanis, inflicted billions of dollars in damage, and killed over 1,500 people — …

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Oil prices climb on weak dollar, supply concerns

Oil prices climbed on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures rose 60 cents, or 0.7 per cent, to $91.95 a barrel by 0330 GMT after …

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PKR slides by 96 paise in interbank

The rupee, which has been falling against the dollar since Sept 2, lost another 96 paise during morning trade in the interbank market on Monday. At 12:20pm, the PKR had fallen to Rs237.8 per dollar — a depreciation of 0.4 per cent from Friday’s close of Rs236.84. Data shared by …

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Sri Lanka retain Asia Cup winners for T20 World Cup

COLOMBO: Sri Lanka’s Dushmantha Chameera and Lahiru Kumara will travel to Australia for the T20 World Cup in a squad largely unchanged from the island nation’s surprise Asia Cup win, selectors said Friday. Matheesha Pathirana, who debuted last month at the Dubai competition, and Asitha Fernando were dropped from the …

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Stocks extend losses on unending rupee woes

KARACHI: The stock market remained under pressure throughout the session on Friday amidst sideways trading because of the investors’ concerns about flood-related losses and their impact on the economic output. Arif Habib Ltd said the stock market opened in the positive zone but traded within a range afterwards. The continued …

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Banks sending dollars out via credit cards

KARACHI: As the daily dollar rate rises, banks have bought twice as much US currency and are sending it abroad on credit cards while the government tries to stop the flow of US dollars out of the country. The dollar ended the day at Rs236.84, according to the State Bank …

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Costly food, energy prices fuel weekly inflation

ISLAMABAD: The weekly inflation rate went down a little to 40.58 percent, mostly because of higher energy costs and the prices of basic cooking items. The Sensitive Price Index (SPI) showed a small drop in inflation from the previous week to the following week (WoW) that finished on September 15. …

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