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Pakistan Rupee can fall to Rs125 to US$

Pakistan Rupee can fall to Rs125 to US$

Amid risks associated with servicing external debt due to devaluation of currency, Moody’s Investors Service, one of top three global credit rating agencies, has forecasted that Pakistan’s rupee could shed value by another 7.75% and its worth may go as low as Rs125 to the dollar by June next year. In its latest report, ‘Government of Pakistan – B3 stable, …

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Peshawar to Afghanistan road get US460m from WB

Peshawar to Afghanistan road get US460m from WB

After marked improvement in the security situation, the World Bank has decided to invest $460 million to build a new road from Peshawar to Afghanistan border aimed at bolstering trade between the two nations and creating job opportunities in war-torn federally administered tribal areas (FATA). The board of directors of the World Bank is likely to approve the $460-million loan …

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Pakistan’s real economic snapshot

Manipulating data to give a false sense of prosperity to the people of Pakistan has been the hallmark of the outgoing regime. Whenever manipulation of data became difficult, the finance minister of the regime mysteriously changed the definitions of the variables and thus made them non-comparable with the past. There are several key macroeconomic variables whose definitions were changed shamelessly. …

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As Gwadar reaches final stages, massive opportunities for all

Once being an ignored tiny indolent fishing town located at the Arabian Sea in Pakistan’s southwest Balochistan province, Gwadar now witnessed a wave of development projects that is opening new avenues of employment and businesses for locals and will lay a strong infrastructural foundation for the country’s future. From 2013, the deep-water port is making its new identity. It has …

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As Trump softens towards China’s ZTE, US lawmakers resist

US lawmakers push back on Trump talk of helping China’s ZTE US lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China’s ZTE, calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company. Trump on Monday had defended his decision to revisit penalties on ZTE for flouting …

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LNG power plants delays, govt seeks Rs16bn damages

The government has claimed about Rs16 billion liquidity damages (LDs) from Chinese contractors and their local partners for delays in commissioning of its two LNG-based power projects of about 1,230MW each in Punjab. A senior official said the National Power Projects Management Company Ltd (NPPMCL) had formally issued notices to the contractors of both the projects for recovery of liquidity …

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Pakistan’s major auto manufacturers defy CAMBT campaign

“Big Three” fighting back: Auto Sales pick up to dismay of CAMBT campaign In a statistical blow to the ‘Campaign Against the Monopoly of Big Three’ (CAMBT), the sales of locally assembled cars and LCVs posted 23 percent growth in 10MFY18 to 218,301 units from 177,463 in the corresponding period of last year despite an increase in vehicles’ prices. Sales …

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Trump’s trade sanctions hit ZTE directly

Trump’s trade fight with China just claimed its first big victim The Trump administration banned sales of US-made parts to the Chinese phone maker ZTE. ZTE, the second-largest telecom-equipment maker in China, generated $17 billion in revenue last year. ZTE said Wednesday that “the major operating activities of the company have ceased.” The ZTE shutdown highlights the global ramifications of …

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