KARACHI: Fitch Ratings has assigned a ‘B-‘ rating to Pakistan’s proposed U.S. dollar-denominated bond, with a Recovery Rating of ‘RR4,’ the ratings agency announced. Pakistan plans to use proceeds from the bond for general budgetary and sovereign financing purposes, according to Fitch. The bond rating is aligned with Pakistan’s Long-Term Foreign-Currency Issuer Default Rating, while ... Read more

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Core inflation, which excludes volatile food and energy prices, rose to 8.7% year-over-year in August, up from 8.4% in July.

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ISLAMABAD: Pakistan’s Federal Board of Revenue collected Rs 1.722 trillion in taxes during July and August, the first two months of the current fiscal year, exceeding its target of Rs 1.710 trillion by Rs 12 billion, according to FBR sources. The result came despite slowing revenue growth and a decline in income tax receipts. A ... Read more

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LAHORE: Former Pakistan captain Misbah-ul-Haq has decided to resign from the Pakistan Cricket Board’s selection committee, sources close to the former cricketer said Tuesday. The sources said Misbah has informed the PCB of his decision and will serve a notice period before formally stepping down from the role. The development comes a day after the ... Read more

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BISHKEK: Prime Minister Shehbaz Sharif warned Tuesday against using water as a political weapon, telling fellow leaders at the Shanghai Cooperation Organisation summit that water “must never be weaponised or used as an instrument of coercion.” Sharif made the remarks while addressing the SCO’s Council of Heads of State summit in Bishkek, shortly after Pakistan ... Read more

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Shares of both companies rose in early trading Tuesday, with EPCL climbing 2.11% and Lotte Chemical Pakistan gaining 2.88%.

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