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Pak banks to restore business ties with Iran

Islamabad / DPA The number of Koreans who travelled abroad reached a monthly high in January, according to figures from a government-run tourism agency. Pakistani banks have been allowed to restore normal financial relations with Iran in the wake of lifting of ban on Tehran by the United Nations Security Council (UNSC). The State Bank of Pakistan (SBP) issued on ...

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Anti-austerity voters punish Irish coalition

Dublin / AFP Ireland faced political uncertainty on Saturday after two exit polls indicated voters had punished the governing coalition in Europe’s fastest-growing economy, still feeling the pain of years of austerity. As counting got under way following the parliamentary election, it appeared PM Enda Kenny’s centre-right Fine Gael and its Labour junior partner would lose support as voters angry ...

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Pound’s slide seen as prelude to more declines

Bloomberg After the pound’s worst week since Britain’s 2009 recession, traders are betting there’s more pain to come. Sterling plunged 3.8 percent versus the dollar this week after the referendum on Britain’s European Union membership was set for June 23. The cost of six-month options suggests traders are the most bearish on the U.K. currency since 2010. “It’s difficult for ...

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