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Business

China guarantees Pakistan of financial backing

Pakistan’s all-weather and time-tested friend China has guaranteed financial backing to Islamabad as Imran Khan-led new government looks to avoid having to go to the IMF to solve its foreign exchange crisis, reported Financial Times. Senior members of Mr Khan’s Pakistan Tehreek-e-Insaf party have told the Financial Times they have …

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PSE’s benchmark index gains 337 points in a week

KARACHI-UNS – The capital market is expected to be driven by political developments and the continuation of the earnings season next week. Mainly investors would bet on the cement companies where they are likely to report better earnings on higher sales, said an analyst from Ismail Iqbal Securities. The KSE-100 …

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Pompeo warns against IMF bailout for Pakistan that aids China

WASHINGTON (Reuters) – US Secretary of State Mike Pompeo warned on Monday that any potential International Monetary Fund bailout for Pakistan’s new government should not provide funds to pay off Chinese lenders. In an interview with CNBC television, Pompeo said the United States looked forward to engagement with the government …

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Despite concerns, China sees a potential ally in Pakistan’s Imran

By James M. Dorsey Pakistani prime minister-in waiting Imran Khan’s ability to chart his own course as well as his relationship with the country’s powerful military is likely to be tested the moment he walks into his new office. Pakistan’s most fundamental problems loom large and are likely to demand …

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Failure of intreme Govt :Rupee hits record low at Rs.128 against US dollar

KARACHI-UNS – Dollar flight continued unabated and made heavy dents in the domestic currency for the fourth time since December and on first day of the new week received a fresh jolt dropping by almost 5.3 percent. The rupee at the interbank started journey with a bang and during the …

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