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CPEC projects transparent : Yabeite was not working in Pakistan: Lijian Zhao

ISLAMABAD -UNS: China has denied that Jiangsu Yabaite Technology Co. Ltd, a Chinese firm allegedly involved in a corruption scam involving Multan metro bus project, was operating in Pakistan. Lijian Zhao, Deputy Head of Mission at Chinese Embassy in Islamabad, issued the clarification in response …

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HBL to shut down New York branch as US financial regulator seeks to impose hefty penalty on bank

KARACHI -UNS : Habib Bank Ltd is likely to face civil monetary penalty of up to US$0.6 billion as the US financial regulator has issued the bank notices for its operation in New York. According to a letter written by the bank to Pakistan Stock …

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PM stresses for encouraging tax culture to boost national economy

KARACHI: Prime Minister Shahid Khaqan Abbasi Saturday called for expanding the tax base in the country, besides encouraging the tax-paying culture in order to boost the national economy. The prime minister, in a meeting with a delegation of prominent businessmen led by Muhammad Ali Tabba …

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Foreign reserves rise to $14,375.1 million

KARACHI -UNS: The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose 0.45% on a weekly basis, according to data released by the central bank on Thursday. The SBP’s press release states, “On August 18, the foreign currency reserves held by the …

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Govt invites Exploration & Production companies to tap Shale gas, oil potential

BY SAJJAD HUSSAIN ISLAMABAD: Ministry of Petroleum and Natural Resources has invited local and international Exploration and Production (E&P) companies to tap massive Shale gas and oil reserves identified in a study carried out in collaboration with USAID. Accordingly, the ministry has established a Shale …

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Tobacco exports increase 35% in one year

ISLAMABAD -UNS/APP: The tobacco exports from the country witnessed sharp increase of 34.93 percent during the Fiscal Year 2017 as compared to the corresponding period of last year. According to figures of Pakistan Bureau of Statistics (PBS), the tobacco exports earned $14.807 million for the country in July-June (2016-17) …

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Pakistan, China sign documents to enhance bilateral cooperation

ISLAMABAD -UNS: Pakistan and China on Sunday signed different documents to enhance bilateral cooperation in the fields of education and infrastructure development. The documents were signed at the PM House in a ceremony during the visit of Chinese Vice Premier Wang Yang here. The signing ceremony …

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Finance Minister lauded for clearing refund claims of Rs 23 bln

ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) lauded Finance Minister Ishaq Dar for clearing pending refunds of Rs 23 billion, terming is a step which will encourage exporters and taxpayers. “The government has fulfilled its promise to the business community for …

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Bank of China to open branch in Gwadar soon

ISLAMABAD -UNS: The Bank of China, along with other national and international banks, plans to open a branch in Gwadar, said Gwadar Port Authority Chairman Dostain Khan Jamaldini in a meeting with the president of the Summit Bank, Zaheer Esmail, here on Thursday. Mr Jamaldini …

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Pak-Afghan JEC to be held after fixation of date

ISLAMABAD-UNS : Pakistan and Afghanistan are agreed to organize the meeting of Pak-Afghan Joint Economic Commission (JEC) after fixation of the date with mutual consent. Finance Minister, Senator Mohammad Ishaq Dar during a meeting with the Ambassador of Afghanistan to Pakistan Omar Zakhiwal, who called on …

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