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U.S. announces reciprocal tariffs: The recent Executive Order by the U.S. President declaring a national emergency over persistent trade deficits marks a significant escalation in U.S. trade policy, with broad-based 10% ad valorem duties imposed on all imports, while escalating for other countries. While the intent is to rebalance trade flows between U.S. and its partners, the policy is expected to have implications for global trade, particularly for export-reliant emerging markets. Notably, the U.S. stands as Pakistan’s single largest export destination (accounting of ~20% of country’s total exports, with textiles and apparel contributing the most). However, escalation in protectionist policies is expected to be more pronounced for peer export-driven economies such as Bangladesh, China, Thailand, and Vietnam—countries that compete directly with Pakistan in key export categories. While this may result in overall value loss globally (due to higher prices), but it also presents a potenti...
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NewsDaily

'No hurdles in IMF agreement' The central bank governor, Jameel Ahmad, said on Thursday that there was no hurdle from the State Bank of Pakistan (SBP)'s side in reaching a staff-level agreement with the International Monetary Fund (IMF), and any outstanding issues might be related to the federal government. While talking to the media after a meeting of the Public Accounts Committee (PAC), the governor hoped that the staff-level agreement would be reached very soon with the IMF. However, he did not provide a firm date for the deal, which has been overdue since March 14. The PAC meeting also revealed that the federal government was about to give "emperor-like powers" to Federal Finance Minister Muhammad Aurangzeb to approve up to five special honoraria for employees and officers of various government departments. "There is no issue pending with us, and any outstanding issue might be on the part of the federal government," said Jameel Ahmad while respondin...
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Fire and Blood

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the maesters of the itadel who keep the histories of Westeros have used Aegon’s Conquest as their touchstone for the past three hundred years. Births, deaths, battles, and other events are dated either AC (After the Conquest) or BC (Before the Conquest). True scholars know that such dating is far from precise. Aegon Targaryen’s conquest of the Seven Kingdoms did not take place in a single day. More than two years passed between Aegon’s landing and his Oldtown coronation…and even then the Conquest remained incomplete, since Dorne remained unsubdued. Sporadic attempts to bring the Dornishmen into the realm continued all through King Aegon’s reign and well into the reigns of his sons, making it impossible to fix a precise end date for the Wars of Conquest. Even the start date is a matter of some misconception. Many assume, wrongly, that the reign of King Aegon I Targaryen began on the day he landed at the mouth of the Blackwater Rush, beneath the three hills where the city of King’s...
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