Pakistan and China show mutual consent to foster bilateral relations and work collectively

Pakistan and China show mutual consent to foster bilateral relations and work collectively

ISLAMABAD: Pakistan and China have mutually agreed to extend bilateral relations and work collectively particularly in aviation sector. Federal Minister for Aviation Lt. Gen. (retd) Naeem Khalid Lodhi and Chinese Ambassador in Pakistan Yao Jing held a meeting on Tuesday and discussed different matters of mutual cooperation in various sectors....

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OGRA: Petroleum prices hike w.e.f 1st August

OGRA: Petroleum prices hike w.e.f 1st August

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Power Division suggesting yet another hike in prices of various petroleum products effective August 1. The regulatory body has recommended an increase of Rs2.75 per litre in petrol prices, Rs3 per litre for diesel, and Rs4...

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Pakistani rupee surges by 4.3%, while dollar hits Rs.122.5

Pakistani rupee surges by 4.3%, while dollar hits Rs.122.5

KARACHI: Pakistani rupee surged by 4.3% to 122.5 per dollar on Monday, following domestic media reports over the weekend that China had agreed to provide $2 billion in loans. Monday brought the first significant strengthening in years for the rupee, which has weakened more than 20 percent since December after...

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Electricity bills worries WASA as it inches up and inflates

Electricity bills worries WASA as it inches up and inflates

RAWALPINDI: The Water and Sanitation Agency (Wasa) has expressed resentment over a Rs5.5 million electricity bill for June and asked the provincial government to take up the matter with the Islamabad Electric Supply Company (Iesco). Wasa Managing Director Raja Shaukat Mehmood told Dawn that Wasa had received an inflated bill...

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Dollar slumps by Rs.5.36, falls to Rs.122.5

Dollar slumps by Rs.5.36, falls to Rs.122.5

KARACHI: The dollar is showing diminishing trend continuously in comparison to Pakistani rupee since past few days; on Saturday US dollar traded at the rate of as low as Rs 123.5 in the open market. It is pertinent to mention here that the currency market on Saturday opened with US...

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Pakistani rupee opens firm as election results roll out

Pakistani rupee opens firm as election results roll out

KARACHI: Shares in Pakistan leveled to their highest in over three weeks in early trade on Thursday, while the Pakistani rupee traded firmer at the open as the nation awaits general election results. With cricket hero-turned-politician Imran Khan leading in a partial count, the benchmark index was up 1.6 percent...

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Pakistan stock market witnesses a bullish trend as election results roll out

Pakistan stock market witnesses a bullish trend as election results roll out

KARACHI: Thursday morning the stock market witnessed a bullish trend as early election results rolled the Pakistan Tehreek-e-Insaf (PTI) for victory. The Pakistan Stock Exchange saw a drastic increase in activity during early trading, a day after the country voted for its second consecutive democratic transfer of power, as the...

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Pakistan Railways suffers a grave loss of Rs.40bn

Pakistan Railways suffers a grave loss of Rs.40bn

LAHORE: The Supreme Court (SC) sought a reply from the railway ministry after it was informed by an auditor on Tuesday that Pakistan Railways had suffered losses of Rs40 billion. Resuming the hearing of a case pertaining to monetary losses suffered by the vital service, the Chief Justice of Pakistan...

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Airfares and hotel rates to hit high by 2019 globally

Airfares and hotel rates to hit high by 2019 globally

SINGAPORE: A strong global economy and rising oil prices are expected to push up the cost of air travel in 2019, with fares seen rising 2.6 percent and hotel rates up 3.7 percent, although there are downside risks from a trade war, according to an industry forecast. In some countries,...

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2 million tonnes of wheat export target missed by Pakistan

2 million tonnes of wheat export target missed by Pakistan

KARACHI: Pakistan missed the export target of two million tonnes for wheat and wheat products despite achieving record exports in the country’s history in FY18. Around 21 per cent rupee devaluation against the dollar since December 2017 to date, coupled with world’s prices and attractive subsidy, boosted wheat exports to...

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