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LAHORE: The prices of many essential food items have declined in the provincial capital. According to a price monitoring report released by the Lahore District Administration on Saturday, a significant reduction in the prices of pulses was seen. ‘Desi daal chana’ has seen Rs 5 reduction, which is available at Rs.270 per kg and the price of ‘daal chana’ has dropped by Rs 15, retailing at Rs 285. The price of imported washed ‘daal mash’ saw a decrease of Rs 10, bringing its price down to Rs 440 while unwashed ‘daal mash’ is available at Rs 410 after a drop…

ISLAMABAD: The prices of the essential kitchen items have witnessed a further increase during this week past against the previous week, revealed a survey carried out by Business Recorder here on Saturday. The survey observed chicken prices went up from Rs16,700 to Rs18,000 per 40kg in the wholesale market, which in retail is being sold at Rs470 against Rs455 per kg and chicken meat is available at Rs750 against Rs700 per kg. Eggs’ prices went up from Rs7,600 to Rs8,600 per carton of 30 dozen which in retail is being sold in the range of Rs290-300 against Rs270-280 per dozen.…

Baby boomers are about to be the largest generation in American history to hit the long-term care space. Born between 1946 and 1964, as defined by Pew Research, the oldest baby boomers are turning 80 next year. The group is set to flood a senior care space that is already understaffed, underfunded and facing political uncertainty.”This space is completely underprepared for the number of older adults that are going to need long term care and end of life care,” said David Grabowski, professor of health care policy at Harvard Medical School. “We’ve historically relied heavily on families. There’s not going…

The Pakistan Pharmaceutical Manufacturers’ Association (PPMA) has refuted recent reports which claimed that medicine prices in Pakistan had increased by 15 times in just five years. “This is absolutely an incorrect news,” PPMA chairman Tauqeer Ul Haq said while speaking to Business Recorder. “The government increased essential medicine prices only one time in the past three years,” he maintained. The development comes after the Pakistan Medical Association (PMA) launched a report titled ‘Health of the Nation 2024’, which led to reports that drug prices had been increased 15 times by successive goverments in just five years. Pakistan’s pharma sector warns…

Dubai-based Parkin, which operates public parking spaces in the emirate and which went public last year, posted a Q4 2024 net profit of AED 120 million ($32.7 million), up 13% year-on-year. “In our first year as a publicly listed company, Parkin has made remarkable progress to meet its financial, strategic and social ambitions,” said Ahmed Bahrozyan, Chairman of Parkin’s Board of Directors. “With our city’s accelerating economic growth, population expansion and record tourism in 2024, I am confident in Parkin’s future outlook and our ability to deliver another strong performance in 2025,” he added. With Dubai Taxi Company and Parkin,…

ISLAMABAD: Hong Kong conglomerate CK Hutchison Holdings Limited’s ports subsidiary plans to invest $1 billion to upgrade its operations in Pakistan, its Finance Ministry said on Friday. “Hutchison Ports presented their upcoming investment plan of $1 billion, aimed at upgrading their existing terminals to enhance operational efficiency, logistics connectivity, and automation,” the ministry said in a statement. No timeframe was provided for the proposed investment. e-Trucks into operations: Hutchison Ports leads with investment in green port operations The investment is expected to generate at least $4 billion in revenue over the next 25 years through royalty, rent, and tax contributions,…

KARACHI: K-Electric (KE) welcomes the Federal Tax Ombudsman’s (FTO) recent decision affirming the company’s full compliance with prescribed laws on sales tax implementation. This underscores KE’s adherence to best financial and business practices in line with regulatory requirements. The decision also highlights KE as the power distribution company in Pakistan that had proactively implemented the correct tax treatment, charging and depositing the sales tax and income tax on gross electricity supply, as per the prescribed laws. This comes at a time when strengthening national revenue collection remains a priority. Earlier this week, the FTO raised issue of different treatment by…

KARACHI: Interest rates may see another reduction in the upcoming monetary policy, with market sources suggesting a potential cut ranging from 50 to 100 basis points, according to surveys. Research houses conducted the surveys to gauge market expectations in light of the 2-3 per cent main inflation expected in February this year. However, the surveys revealed a divided opinion, with the majority anticipating a rate cut to be announced in the next monetary policy meeting, scheduled for March 10. In a poll conducted by Topline Securities, market participants held varying views: 38pc believe the rates will remain unchanged, while 62pc…

Tom Espiner, Faarea Masud and Sean DilleyBBC BusinessGetty ImagesExpansion at Gatwick Airport has moved a step closer after the government gave the plan its tentative backing. On the surface Gatwick’s plans look relatively straightforward.In contrast to Heathrow, which wants to bulldoze houses and reroute the M25, Gatwick is proposing to shift an already existing runway just 12 metres north, and bring it into regular use.Yet it still may not happen for years, or may not happen at all.How did we get here?Gatwick officially opened as an airport in 1958. It had one runway and an additional taxi-way, that was expanded…

A customer shops for produce at an H-E-B grocery store on Feb. 12, 2025 in Austin, Texas.Brandon Bell | Getty ImagesEarly economic data for the first quarter of 2025 is pointing towards negative growth, according to a Federal Reserve Bank of Atlanta measure.The central bank’s GDPNow tracker of incoming metrics is indicating that gross domestic product is on pace to shrink by 1.5% for the January-through-March period, according to an update posted Friday morning.Fresh indicators showed that consumers spent less than expected during the inclement January weather and exports were weak, which led to the downgrade. Prior to Friday’s consumer…