Overseas Pakistanis remit US $9.02 billion in the first five months of FY19

Overseas Pakistanis remit US $9.02 billion in the first five months of FY19

Overseas Pakistani workers remitted US$ 9028.60 million in the first five months (July to November) of FY19, showing a growth of 12.56% compared with US$ 8021.18 million received during the same period in the preceding year. During November 2018, the inflow of workers’ remittances amounted to US$ 1608.62 million, which...

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CNG association to stage protest against discontinuation of gas supply for indefinite time period

CNG association to stage protest against discontinuation of gas supply for indefinite time period

KARACHI: CNG association to protest on Wednesday (today) as the Sui Southern Gas Company (SSGC) has announced to halt gas supply to CNG stations across Sindh for indefinite period of time, media reported. It is pertinent to mention that the SSGC spokesperson in a statement today said, supply to CNG...

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SBP and FIA call for some major reforms

SBP and FIA call for some major reforms

ISLAMABAD: The finance ministry officials informed minister Asad Umar that reforms in the State Bank of Pakistan and Federal Investigative Agency (FIA) are apparently need of the hour to prevent money laundering from the country, informed sources. The recommendations were given in a session held on the FATF chaired by...

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Lion Air: Passengers dip by nearly 5% post deadly crash

Lion Air: Passengers dip by nearly 5% post deadly crash

JAKARTA: Lion Air said on Monday passenger numbers dropped by less than 5% in November compared to a year earlier, after one of its Boeing Co 737 MAX jets crashed in late October killing all 189 people on board. “There was a decline but it wasn’t too significant,” the airline’s...

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French investors to invest in Pakistan’s various sectors

French investors to invest in Pakistan’s various sectors

ISLAMABAD: French investors shows enthusiasm to invest and discover potential for investment in various sectors in Pakistan, expressed by French Ambassador Marc Barety France in a meeting with Acting Chairman Senate Senator Saleem Mandviwala on Wednesday. The meeting includes detailed discussion of trade requirements which needs expansion in order to...

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Huawei executive arrested in Canada, investigations underway

Huawei executive arrested in Canada, investigations underway

OTTAWA: A top executive and daughter of the founder of Chinese telecom giant Huawei has been arrested in Canada and faces extradition to the United States, officials said Thursday, angering Beijing days into a trade war truce with the US. The detention of Meng Wanzhou, Huawei’s chief financial officer, comes...

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Pakistan Railways: Ticket fares increase by 19% w.e.f December 7

Pakistan Railways: Ticket fares increase by 19% w.e.f December 7

LAHORE: The Pakistan Railway increased train fare by 10-19%, read a notification issued on Tuesday. The fare increase will be applicable from December 7. Under the new fare schedule, there will be an increase of as many as Rs 540 of Green line train from Karachi to Islamabad. The new...

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Non-salary budget dips by 10%

Non-salary budget dips by 10%

ISLAMABAD: The federal government has decided to cut non-salary current budget of the civilian setup by 10% as part of its austerity drive –a move that will help save nearly Rs10 billion in the remainder period of fiscal year but would not address core fiscal problems. The Pakistan Tehreek-e-Insaf (PTI) government...

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Cash strapped Jet Airways to stop free meals for economy class in order to boost revenues

Cash strapped Jet Airways to stop free meals for economy class in order to boost revenues

NEW DELHI: Jet Airways Ltd, India’s biggest full-service carrier, will stop providing free meals to most domestic economy class passengers from January, in the debt-laden airline’s latest move to cut costs and boost revenues. Passengers will, instead, have the option to buy meals on board, the airline said in a...

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Rupee recovers against dollar

Rupee recovers against dollar

KARACHI: The rupee recovered against the dollar during early day trading in the open market on Monday as the greenback slashed by Rs 3, media sources revealed. Commenting on a latest drop, experts said the appreciation of rupee is a temporary phenomenon, and it could depreciate again in view of...

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