LONDON: Major oil producers have agreed to continue modestly raising output, despite pressure from the United States and other big consumer nations to open up the taps much more decisively, amid soaring prices. The 13 members of the Organization of Petroleum Exporting Countries (Opec) and their 10 allies reconfirmed a July decision to gradually step … Read more
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs26 million on Faisalabad Electric Supply Company (Fesco) on the charges of negligence, resulting in fatal incidents during the period July 2019 to January 2021. The regulator upon receipt of reports of 17 deaths in different electrocution incidents during the above period, … Read more
BORDEAUX: A prominent French infectious disease doctor on Friday faced a disciplinary hearing for his controversial recommendations on Covid-19 that won him global fame at the height of the pandemic. Didier Raoult championed the anti-malaria drug hydroxychloroquine as a coronavirus treatment at a time when the method was also being touted without evidence by former … Read more
ATTOCK: Prime Minister Imran Khan on Friday said that to control inflation and reduce the financial burden on the poor, the government was bearing a deficit of Rs450 billion. Talking to the leadership of Pakistan Tehreek-e-Insaf (PTI) in Attock, he said the government had taken unprecedented relief measures for underprivileged segments through several socio-welfare initiatives. … Read more
TOKYO: Japan said Friday it will allow short-term business travellers, foreign students and other visa holders to enter the country, but tourists are still barred under pandemic border restrictions. From Monday, business visitors fully inoculated with an authorised vaccine will need to quarantine for only three days, down from a minimum of 10 days, the … Read more
TAIPEI: The head of a European Parliament delegation on Friday urged the international community to interact more with Taiwan to help defuse tensions with China, dismissing its claim that visiting the island was a provocation. China claims self-ruled Taiwan as part of its territory and vows to seize it one day, by force if necessary. … Read more
MALANG, Indonesia: Indonesian rescuers scrambled Friday to find survivors under mud-swamped hillsides after flash floods on Java island killed at least eight people, the disaster agency said. Torrential rains on Thursday unleashed flash floods in Malang and the highland city of Batu, inundating houses with mud and debris, while a wall of water destroyed local … Read more
The opposition parties in the country on Friday criticised the Pakistan Tehreek-e-Insaf (PTI) government for “massively” increasing prices of petroleum products just two days after the premier’s announcement of the “biggest ever” relief package in Pakistan’s history. The government increased the petrol price by Rs8.03 to Rs145.82 per litre, an all-time high, with immediate effect. … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the State Bank of Pakistan (SBP) to allow Customs Department enable exporters to conduct their trade transactions under firm contract to Afghanistan, a statement said. FPCCI president Mian Nasser Hyatt Maggo said that currently the exporters are only allowed to trade on … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to take measures for uninterrupted gas supply to industries during the winter season, a statement said. LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq said that the unavailability or low gas pressure during … Read more
KARACHI: The goods transporters have been facing a lot of problems due to sit-in in Punjab, as hundreds of container-laden trucks, of which many containers were loaded with goods, had been intercepted by the police to use them for setting up roadblocks, which has caused severe losses not only to the truck owners but also … Read more
KARACHI: The weekly foreign exchange reserves of Pakistan remained flat at $23.926 billion by the week ended October 29, 2021, the central bank reported. The foreign exchange reserves of the country stood at $23.934 billion by the week ended October 22, 2021. The official foreign exchange reserves of the State Bank of Pakistan (SBP) increased … Read more
LAHORE: The Chinese and Pakistani companies have reached intended cooperation agreements (ICA) worth $34 million in various sectors, including construction, engineering, manufacturing and technology transfer during the recently concluded three-day Pakistan Industrial Expo 2021, a statement said. As many as nine Chinese companies are considering long-term development projects in Pakistan as a result of interaction … Read more
ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has appreciated Finca Microfinance Bank for reaching out to the remote areas of Pakistan where the formal banking sector is not available. During a meeting with the delegation of Finca Microfinance Bank led by its global chief executive officer Andree Simon, Tarin said … Read more
ISLAMABAD: Saudi Arabia had always supported Pakistan in difficult times, a senior government official said. Speaking at the inaugural ceremony of the Saudi Winter Kit Distribution, Minister for Information and Broadcasting Chaudhry Fawad Hussain said that the project would provide shelter to the poor people, especially those hit by the natural calamity in Harnai, Balochistan. … Read more
ISLAMABAD: The World Bank has projected Pakistan’s debt-to-GDP ratio to ease to 90.6 per cent in the current fiscal year and 89.3 per cent in the next fiscal year 2022/23. The World Bank in its recent report “Pakistan Development Update October 2021” said that the total debt-to-GDP ratio had peaked to 92.7 per cent in … Read more
ISLAMABAD: A day after Prime Minister Imran Khan had warned that prices of petroleum products would go up, the government on Thursday night increased petrol price by Rs8.03 to Rs145.82 per litre, an all-time high, with immediate effect. The ministry of finance made the announcement late last night through a notification, according to which the … Read more
ISLAMABAD: Pakistan and the Association of Southeast Asian Nations (Asean) countries need to introduce new dimensions for enhancing bilateral trade and economic ties, a diplomat said. Asean Islamabad Committee chairman and Indonesian Ambassador to Pakistan Adam M Tugio stated this, while talking to APP, on the sidelines of the roundtable conference, jointly organised by the … Read more
