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Economic Recovery

UAE Introduces New Tax Relief Measures for Businesses and Partnerships

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UAE

UAE announces new tax relief and administrative measures. UAE introduces new tax relief and administrative measures to support local businesses, foreign partnerships, and family foundations. The strategy specifically aims to reduce compliance challenges for taxpayers. The United Arab Emirates (UAE) has announced new tax relief and administrative measures aimed at supporting local businesses, foreign partnerships, … Read more

Commodities drive Indonesia economic recovery in 2021

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Commodities drive Indonesia

JAKARTA – Indonesia’s economy returned to growth last year as surging commodity prices helped drive a recovery from a coronavirus-triggered recession, data showed Monday, though officials warned the outlook depended on how well the fast-spreading Omicron variant is managed. Southeast Asia’s biggest economy expanded 3.69 percent on-year, the country’s statistics agency said, having contracted in … Read more

Current year is of economic recovery, next of prosperity, claims FM Qureshi

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Foreign Minister (FM) Shah Mahmood Qureshi claimed that the current year was a year of economic recovery for Pakistan while the next one would be of prosperity. Read more: FM Shah Mahmood Qureshi urges opposition to ‘unite’ for South Punjab province Talking to the media in Multan on Saturday, FM Qureshi said that in the … Read more

Pakistan to learn from China on industrialisation: Senate chairman

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Pakistan

ISLAMABAD: Pakistan’s Senate chairman Sadiq Sanjrani has said that his country has a lot to learn from Chinese expertise to promote industrialisation for economic development. Sanjrani made the remarks at the launching ceremony of the “All-Pakistan Chinese Enterprises’ Association Sustainable Development Report 2021.” He said that China has not only emerged as an economic power … Read more

Biden says govt averted US holiday supply chain ‘crisis’

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Joe Biden

WASHINGTON: President Joe Biden argued on Wednesday that by working with shipping firms and unions, his administration helped prevent a feared shortage of gifts for the holidays. Reeling from a fresh political wound, that his signature social spending and climate bill was potentially dead in the water, the US leader also touted the economic recovery and … Read more

Asian, European traders welcome Fed tilt to fight inflation

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 Asian and European markets

HONG KONG: The Asian and European markets rose on Thursday and the dollar held gains after the Federal Reserve laid out a more hawkish path by speeding up the taper of its pandemic financial support and indicated a number of interest rate hikes over the coming years. While the much-anticipated decision spells an end to the … Read more

More initial public offerings likely in 2022

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initial public offerings

KARACHI: If the macroeconomic situation in Pakistan stabilises after the resumption of the International Monetary Fund (IMF) programme, there will be more initial public offerings in 2022. “Though, there are a few IPOs [initial public offerings] in [the] pipeline, as companies plan to expand their capacities, the outlook on IPOs will depend on the overall … Read more

IEA urges Opec to take ‘necessary steps’ to lower oil prices

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Opec

PARIS: The head of the International Energy Agency on Wednesday called on Opec and its allies to take measures to help bring oil prices down to “reasonable levels”. “I very much hope to see in the next meeting or meetings they… make the necessary steps in order to comfort the global oil markets and help … Read more

Monthly Update Outlook Report on National Economy Released

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Monthly Update Outlook Report on National Economy Released

ISLAMABAD: The Ministry of Finance has released a monthly updated outlook report on the country’s economy, which said that economic recovery and acceleration in activities are continuing. According to the report of the Ministry of Finance, industrial and agricultural production has improved while tax revenue and remittances have increased. In July-April, remittances increased by 29% … Read more

Pakistani Banks Face Slow Economic Recovery: Moody’s

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Pakistani Banks Face Slow Economic Recovery: Moody's

Pakistani banks are facing a slow economic recovery. The economic growth rate will be 1.5% this financial year. Moody’s Research has released a report on Pakistani banks and said that the scenario of abundant funding and liquidity banks is stabilizing, challenging, better operating environment will affect the assets and profits of banks. Moody’s Research report … Read more

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