BOL NEWS BUSINESS DIGEST: November 25, 2021

Web Desk BOL News

25th Nov, 2021. 09:45 am
BOL NEWS BUSINESS

BOL NEWS BUSINESS DIGEST. Image: Unsplash

SBP projects Pakistan’s GDP growth up to 5%

KARACHI: The State Bank of Pakistan (SBP) has projected the real GDP growth at 4 per cent to 5 per cent for the current fiscal year, as per the actual target set for the fiscal year. However, the current account deficit has been projected at up to 3 per cent of the GDP as against the actual estimate of 0.7 per cent for the fiscal year 2021/22. –SHAHNAWAZ AKHTER

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Bears continue to rule PSX; KSE-100 Index losses 584.82 points

KARACHI: The Pakistan equity market plunged on Wednesday, as the market took this reaction to the announcement of a mini-budget, removal of general sales tax (GST) exemption and rollover settlement, while selling pressure persisted during the day. –JAVED MIRZA

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Service Industries approves Rs100 million investment in subsidiary

KARACHI: The board of directors of Service Industries Limited (SIL) approved an investment of Rs100 million in Service Industries Capital (Private) Limited, a bourse filing said on Wednesday. –LATIFUR REHMAN

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NTDC begins construction of 113km long 500kV transmission line

LAHORE: The National Transmission and Dispatch Company (NTDC) has started construction of 113km long 500 kV double circuit quad bundle transmission line from Nokkhar Grid Station Gujranwala to the Lahore North Grid Station, which will be subsequently connected with the HVDC Converter Station, Lahore for dispersal of power. –IQTIDAR GILANI

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Ecnec approves Sambrial-Kharian Motorway, Gwadar International Airport

ISLAMABAD:  The Executive Committee of the National Economic Council (Ecnec) on Wednesday approved the projects of satellite technology, communication, power and education. –HAMZA HABIB

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New arrivals ease sugar prices in market

ISLAMABAD: Prices of sugar witnessed a decline after arrival of new stock, while the prices of flour remained stable because of the government’s proactive measures. –HAMZA HABIB

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Rupee falls 74 paisas against dollar

KARACHI: The rupee witnessed a decline of 74 paisas against the dollar on Wednesday, as external payments jacked up the demand for the foreign currency, dealers said. –SHAHNAWAZ AKHTER

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Agreements worth Rs25.5 billion signed for Islamic financing facility

KARACHI: The Meezan Bank-led consortium and Enertech Water Private Limited signed agreements of Rs25.5 billion for Islamic syndicated project financing facility for the government of Sindh, a statement said on Wednesday. –LATIFUR REHMAN

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Pakistani oil, gas companies participated in ADIPEC

KARACHI: The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s most influential energy sector event, took place from November 15 to 18, 2021 in Abu Dhabi National Exhibition Centre (ADNEC), United Arab Emirates, under the patronage of the president of the United Arab Emirates. –JAVED MIRZA

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Pak Pharma and Healthcare Exhibition kicks off at expo centre

KARACHI: The three-day Pak Pharma and Healthcare Exhibition kicks off at the Karachi Expo Centre, a statement said. –JAVED MIRZA

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Yarn merchants seek KCCI’s help in bringing down duties, taxes

KARACHI: The Pakistan Yarn Merchants Association (PYMA) has sought the cooperation of the Karachi Chamber of Commerce and Industry (KCCI) in convincing the government to reduce the duties and taxes and abolish anti-dumping duty on polyester yarn. –SHAHNAWAZ AKHTER

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Rupee remains stable at interbank opening

KARACHI: Pak Rupee remained stable without major changes in early trade at the interbank foreign exchange market on Wednesday. –LATIFUR REHMAN

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Indonesia-Pakistan Portal to felicitate businesses developed

KARACHI: An Indonesia-Pakistan Portal has been developed to felicitate businesses of the two countries, a diplomat said. –LATIFUR REHMAN

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Wasif Memon appointed as SRB chairman

KARACHI: The Sindh government has appointed Dr Wasif Ali Memon as the chairman of the Sindh Revenue Board (SRB), a statement said. –SHAHNAWAZ AKHTER

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Rupee remains stable at interbank opening

KARACHI: Pak Rupee remained stable without major changes in early trade at the interbank foreign exchange market on Wednesday. –LATIFUR REHMAN

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