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July 20, 2018 4:47 AM Current account deficit rises to $18bn, reserves hit four-year low

KARACHI: Current account deficit (CAD) touched $18 billion in FY18, up 42.5 per cent over the previous fiscal year, the State Bank of Pakistan (SBP) reported on Thursday. Only two years ago, the CAD was at $4.876bn, spiking to $12.621bn the following year, before hitting its record high in 2017-18. The State Bank data released on Thursday showed total

July 20, 2018 12:00 AM Qatar ploughs ahead with World Cup plans despite crises

DOHA: Last year, Qatar’s finance minister Ali Sharif Al-Emadi said his country was determined to have everything ready for the 2022 World Cup well before fans started landing in the Gulf. “We don’t want to be painting while people arrive in the country,” he said, before going on to reveal Qatar is spending almost $500 million (430 million euros) a week on infrastructure

July 20, 2018 12:00 AM Caretaker setup shows lack of control over currency regime

LAHORE: The interim government’s seemingly lost control over the currency regime is being ignored, as all political parties are busy slinging mud on each other that is further damaging the already weak economy of Pakistan. Rupee traded at Rs110 against dollar when the caretaker government was sworn in; however, in less than 50 days the value has dropped

July 20, 2018 12:00 AM FBR launches tax evasion probe against stationery industry

KARACHI: Tax authorities have launched a tax evasion probe against the stationery businesses manufacturing books and pencils by scrutinising their returns after the government restored zero-rating facility for multibillion rupees industry from July 1, officials said on Thursday. The officials said strong lobby of stationery industry convinced the government

July 19, 2018 12:00 AM Modi govt faces no-confidence motion tomorrow

ISLAMABAD: Indian Lok Sabha (Lower House of Parliament) will take up discussion and voting on no-confidence motion against Prime Minister Narendra Modi government tomorrow (Friday, July 20), it has been announced by Indian Lok Sabha speaker Ms. Sumitra Mahajan on Wednesday in Indian capital. According to media reports, the no-trust vote will be held from 11:am to 6:pm. United

July 18, 2018 3:07 PM South Punjab is PML-N's stronghold, says Shehbaz Sharif

“South Punjab is a stronghold of the PML-N and I am sure masses will reject bat, jeep and arrow and vote for 'lion' symbol in the party,” Sharif told a rally in Rajanpur district of south Punjab. Shehbaz criticized Imran Khan saying that when dengue virus attacked Khyber Pakhtunkhwa, the Pakistan Tehreek-e-Insaf (PTI) chief went to Nathia Gali. “Imran

July 18, 2018 2:36 PM Imran Khan vows to make tourism a top priority

NATHIA GALI: PTI chairman Imran Khan that his party would make tourism a top priority after coming into power. Addressing a gathering of supporters in the mountain resort town of Nathia Gali, Khan said that this area was better than Switzerland in term of scenic beauty. “Those who say industries will be set up at Nathia Gali are telling lies. Industries

July 18, 2018 12:03 PM Ex-PM’s daughter, Senator Amjal Wazir join PTI

ISLAMABAD: Former prime minister Muhammad Khan Junejo’s daughter Fiza Junejo have joined Pakistan Tehreeek-Insaf (PTI) after meeting Imran Khan in Islamabad. According to a statement issued by the PTI's Media Department, Senator Ajmal Wazir also met the PTI chief and joined his party. The two politicians separately met Imran Khan at his Bani Gala residence 4

July 18, 2018 12:00 AM Malaysian king calls for unity amid racial tensions

KUALA LUMPUR: Malaysia’s king has appealed for calm amid growing racial tensions in the Muslim-majority country after an electoral earthquake in May toppled the Malay-dominated coalition that had ruled the country for decades. In his inaugural address to lawmakers during the new parliament session, King Sultan Muhammad V urged "every citizen to preserve

July 17, 2018 2:17 PM PML-N seeks ECP’s ban on Imran Khan’s 'inappropriate' speeches

LAHORE: PML-N spokesperson Marriyum Aurangzeb has called for the Election Commission of Pakistan (ECP) to impose a ban on inappropriate speeches of Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan. In a media talk on Tuesday, Aurangzeb said Imran has been delivering similar language over the past five years."If TV advertisements can be banned, ECP should 1