LAHORE: The Pakistan Flour Mills Association (PFMA) has announced to observe a strike in the Rawalpindi division from Monday, November 15, 2021. The association has convened a meeting of mill-owners on Tuesday for devising the future course of action in the wake of the condition of lifting 25 per cent of the allocated wheat quota … Read more
KARACHI: The central bank on Saturday increased the average cash reserves requirement (CRR) for banks to 6 per cent to contain monetary expansion and moderate domestic demand. A statement issued by the State Bank of Pakistan (SBP) said it has decided to increase the average (CRR), to be maintained during a period of two weeks … Read more
LAHORE: Economic Counselor of French Embassy Dominique Simon has said that France was one of the main contributors of foreign direct investment to Pakistan. Speaking at a meeting at the Lahore Chamber of Commerce and Industry (LCCI) on Saturday, he said France would continue to support Pakistan in the future. LCCI president Mian Nauman Kabir, … Read more
GLASGOW: Glasgow was a vital cog in the machine of Britain’s Industrial Revolution, which brought the baleful impact of carbon emissions and eventually climate change to the world. Today, the venue for the COP26 environmental summit is home to a pioneering project to counteract the effects of planetary warming, centered on Glasgow’s Forth and Clyde Canal. … Read more
THE HAGUE: The coronavirus pandemic has sparked a sharp rise in online shopping fraud, Europe’s policing agency warned on Thursday, saying criminals continued to prey on victims working from home. Fears of catching the virus have driven a sharp increase in online shopping, which in turn has led to a major rise in delivery fraud … Read more
ISLAMABAD: Pakistan Railways is under the spotlight once again for its continued losses worth billions of rupees every year with no significant improvement in sight. Its performance has particularly gone down during the current regime of Pakistan Tehreek-e-Insaaf (PTI) which, like the previous government, have failed to turn it around. The glaring percentage of Railways’ … Read more
LAHORE: The National Transmission and Dispatch Company (NTDC) will procure disc insulator and hardware string amounting to 10.8 million euros for 500kV SECL (Thar Block-I) to Matiari Double Circuit transmission line for evacuation of power from 1320MW SECL Coal Power Plant. The contract signing ceremony for the procurement of the material was held at a … Read more
GLASGOW: Sleep-deprived COP26 negotiators on Saturday struggled to bridge deep divisions holding up a deal to deliver the emissions cuts and financial support needed to avert the accelerating disaster of climate change. A new draft text, released deep into overtime by the Glasgow summit’s UK presidency, urged nations to accelerate efforts to phase-out of unfiltered … Read more
KARACHI: The Pakistan Stockbrokers Association have approached Pakistan Stock Exchange (PSX) chairperson Dr Shamshad Akhtar to initiate an inquiry into the premature rollout of the new trading system on October 25, 2021 for a week, as investors suffered losses during the period. The association in a letter to Dr Shamshad Akhter accused the PSX management … Read more
KARACHI: The rupee is likely to stay under pressure against the dollar next week because the lack of foreign inflows may hurt market sentiments. The rupee hit an all-time low against the dollar by the end of the outgoing week at Rs175.73 on November 12, 2021 in the interbank foreign exchange market. The external payment … Read more
KARACHI: “Once I was a supporter of Prime Minister Khan, as I believed that he would bring peace in our lives. But unfortunately, his government has made the lives of common people miserable in the city that has witnessed bloodbaths and unemployment for a long time.” This is what rickshaw driver Saleem Qadri has to … Read more
ISLAMABAD: The government has finally decided to conduct a crackdown against the elements involved in fraudulent practices with reference to the Ehsaas project and spreading disinformation about it. In a key meeting held here on Friday to discuss measures to combat such fraud and disinformation being spread through through cell phones, websites and apps, Senator … Read more
KARACHI: The Pakistan stocks adjusted 3.27 per cent during the week ended November 12, 2021, while the sentiment is hinged upon the announcement of the International Monetary Fund (IMF) package. An analyst at AKD Securities said the market is going to watch a host of events closely where ongoing negotiations with the IMF remain paramount … Read more
BAJAUR: Punjab Chief Minister Usman Buzdar and Pakistan Muslim League-N President Shehbaz Sharif on Saturday condemned the blast near the Raghagan Dam in Bajaur which claimed at least two lives of policemen. They also paid tribute to the martyred police officials. “We salute the sacrifices of the martyrs,” said CM Bazdar, adding that the entire … Read more
MANILA: Sara Duterte, the daughter of outgoing Philippines President Rodrigo Duterte, will run for vice president in the 2022 elections, the government’s election monitor said Saturday, after months of speculation she would seek the top job. The Davao City mayor had been widely expected to contest the presidency in a bid to succeed her father, … Read more
WASHINGTON: US President Joe Biden will hold a hotly anticipated virtual summit with his Chinese counterpart Xi Jinping on Monday, with both sides indicating they will not give ground on flashpoint issues such as Taiwan. Relations between the world’s two largest economies have recently deteriorated, in particular over Taiwan, a self-ruling democracy claimed by China, … Read more
KARACHI: Administrator Karachi Murtaza Wahab on Friday said that the Sindh government is hoping to provide 120 million gallons of potable water supply per day via a desalination plant to Karachi. The administrator said this at the Institute of Business Administration while speaking at the “Karachi Agay Barhnay Ka Rasta (Karachi the way forward)” discussion. … Read more
KARACHI: Ahead of World Diabetes Day, the International Diabetes Federation (IDF) has released new figures showing that the prevalence of the disease in Pakistan has increased by 70% since 2019 as 33 million adults in Pakistan are now living with diabetes. According to IDF, in 2021, diabetes will be responsible for 400,000 deaths in the … Read more
KARACHI: Court of a judicial magistrate on Friday summoned an additional director of the cybercrime reporting centre Karachi on November 25 to explain the inordinate delay in filing of charge sheets in close to 1,200 cases of online harassment, identity theft, pornography and other offences. Judicial Magistrate (East) Mukesh Kumar Talreja gave a two-week deadline … Read more
ISLAMABAD: Prime Minister Imran Khan assured Afghanistan’s interim Foreign Minister Amir Khan Muttaqi that Islamabad in the “current context” would “favourably consider” its Afghan brothers “request” to transport wheat offered by India via Pakistan. “Prime minister conveyed that in the current context Pakistan would favourably consider the request by Afghan brothers for transportation of wheat … Read more
KARACHI: The Pakistan bourse tumbled 1.29 per cent on Friday after MSCI reclassified Pakistan to the Frontier Markets from the Emerging Markets with a lower-than-expected weightage, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower in the post-earnings season on global equities selloff and slump in the global crude oil … Read more
ISLAMABAD: The Information Minister Fawad Chaudhry advised the opposition to present an “alternate” if they oppose the Pakistan Tehreek-e-Insaf’s (PTI) electoral reforms. “We wish the 2023 elections [are held under the proposed electoral reforms and] the PTI recommendations on electoral reforms come to Parliament at the earliest,” Fawad said in a news conference after attending … Read more
LAHORE: Lahore Electric Supply Company (Lesco) chief executive officer (CEO) Chaudhry Muhammad Amin has assured the All Pakistan Textile Mills Association (Aptma) of incessant electricity supply to the industry during the winter season. Amin said that extraordinary measures are being adopted to ensure uninterrupted electricity supply to the export-oriented industry of the country without any … Read more
KARACHI: United States Chargé d’affaires William Steuer remarked on Friday that the “military-to-military ties” between Islamabad and Washington are “strong and enduring”. A press release issued by the US Consulate in Karachi said Steuer passed the remarks while visiting the USS Pearl Harbor that was “visiting” Karachi. The consulate said that the ship was in … Read more
KARACHI: Former Pakistani Ambassador to United Nations Hussain Haroon warned that “Hindutva ideology” is not just destroying India but may harm its neighbouring countries as well, said a press release. “Pakistan needs to go through United Nations Security Council’s resolutions with other peace-loving powerful nations and apply the same forcefully for Kashmir dispute. Otherwise, Hindutva … Read more
RAWALPINDI: Chief of the Army Staff (COAS) General Qamar Javed Bajwa urged on Friday that “global convergence on Afghanistan” is required to avoid a “looming humanitarian crisis” in the country. The military’s media wing shared that the COAS passed the remarks in a meeting with United States Special Representative for Afghanistan Thomas West at the … Read more
