WASHINGTON: Global finance officials are worried about rising inflation pressures but there is little fear that it will become a “runaway train,” IMF chief Kristalina Georgieva said. With supply chain bottlenecks growing in the face of surging demand, policymakers have focused attention on rising prices and whether they will linger or fade away in coming … Read more
Prime Minister Imran Khan reiterated on Thursday that Pakistan Tehreek-e-Insaf (PTI) government was dedicated to the preservation of trees. “Our government is dedicated to [the] preservation of our trees and every tree is being saved including saving and replanting trees that need to be removed from a particular location,” he said in a tweet. Our … Read more
ISLAMABAD: The World Bank on Thursday acknowledged that a lot of progress has been made on the implementation of structural reforms in various sectors by Pakistan, stressing that there was a need to keep up the momentum to achieve the projected growth targets. According to a statement received here form the Embassy of Pakistan in … Read more
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Thursday expressed the hope for successful outcome of top level negotiations with the International Monetary Fund (IMF) for putting the $6 billion Extended Fund Facility (EFF) back on track. “I believe that the progress we have made to-date is really encouraging and as we say, … Read more
RAWALPINDI: Army Chief General Qamar Javed Bajwa has termed close cooperation between Pakistan and Iran key for regional peace and stability. He was talking to Iranian Chief of General Staff Major General (CGS) Mohammad Bagheri, who called on him in Rawalpindi on October 13, said Radio Pakistan. During the meeting, the two officials discussed a … Read more
RIYADH: Ratings firm Moody’s has affirmed the Baa2 ratings of state-owned Dubai Electricity and Water Authority and revised its outlook to stable from negative, Arab News reported. “The rating action reflects the credit linkages between DEWA and the government of Dubai. Supportive oil prices and improved prospects for a sustained economic recovery will strengthen the operating environment … Read more
BRUSSELS: The European Union has presented a ‘toolbox’ of measures to mitigate an energy crunch that threatens to send Europeans’ power bills soaring. The European Commission has been under pressure to act on the looming crisis, even though individual EU governments are more directly responsible for their energy sources and taxation. Consumers’ “concern is understandable, … Read more
KARACHI: Representatives of sugar mills have signed an agreement for the implementation of a track and trace system introduced by the Federal Board of Revenue (FBR), a statement said. The tripartite agreements were signed at the Large Taxpayers Office (LTO), Karachi among the representatives of sugar mills, FBR and the consortium AJCL/Mittas/Authentix for the implementation … Read more
KARACHI: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has won the prestigious Retail Banker International (RBI) Asia Trailblazer Award 2021 for being the “Best Retail Bank in Pakistan”, along with an honourable mention of “Highly Commended” for its house loan in the Best Loan Offering category, a statement said. Organised in collaboration with … Read more
ISLAMABAD: The members of the Iran-Pakistan Parliamentary Friendship Group discussed the strengthening of bilateral relations and the enhancing of parliamentary cooperation between the two countries at a meeting held on Monday. The Islamic Republic of Iran and Pakistan, as two neighbouring countries, enjoy good relations and cooperation, and active parliamentary diplomacy prevails between the two … Read more
Prime Minister Imran Khan said the United States (US) has to “pull itself together” and deliver an aid package to Afghanistan or face its collapse which would become a haven for Islamic State militants. In an interview with the Middle East Eye (MEE) in Islamabad, the premier said it was important to Pakistan that Washington … Read more
RIYADH: The chief executive of French owned power giant ENGIE in Saudi Arabia, Turki Al-Shehri, finds it hard to hide his excitement about green hydrogen. However, he couldn’t hide his worries on the difficulties that conventional energy projects are currently facing. He told Arab News that financing for plants that are not green has become “much more … Read more
BEIJING: The 330MW Thar Energy Limited (TEL) power project in Thar Block-II being completed under the China-Pakistan Economic Corridor (CPEC) in Sindh was making steady progress, a senior Chinese official said. The TEL power plant was a 330MW mine-mouth lignite-fired power project being built by the Thar Energy, which was owned by Hub Power Company … Read more
KARACHI: South Asia’s e-commerce market leader, Daraz, celebrates this month the third anniversary of its digitalised logistics arm, Daraz Express, a statement said. As the first digitalised logistics company designed for e-commerce operations across Pakistan, Bangladesh, Sri Lanka, Myanmar, and Nepal, DEX has seen rapid growth since its launch in 2018, delivering close to 65 … Read more
KARACHI: The rupee finally recovered nine paisas against the dollar on Thursday after touching 171 in the intraday trading, as the State Bank of Pakistan (SBP) introduced more restrictions to curb outflows of foreign currency. The exchange rate ended at Rs170.87 against the dollar from the previous day’s closing of Rs170.96 in the interbank foreign … Read more
Firing a broadside at the Pakistan Tehreek-e-Insaf government, PPP Chairman Bilawal Bhutto Zardari alleged that the extension, granted to the National Accountability Bureau (NAB) Chairman retired Justice Javed Iqbal, was “illegal” and the move showed “malicious intent”. “Extension of NAB chairman’s term is not only illegal but has malicious intent,” said the PPP chairman in … Read more
ISLAMABAD: Pakistan will successfully complete the 4th Biennial Review of the European Union (EU) Generalised Scheme of Preference (GSP) Plus incentive, a senior government official said. Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood expressed the hope that as the 4th Biennial Review of GSP Plus incentive is currently under way, … Read more
KARACHI: The State Bank of Pakistan (SBP) has introduced regulatory measures to enhance transparency in the foreign currency transactions by the exchange companies and to curb undesirable outflow of foreign currency, a statement issued by the central bank said. The regulatory measures included persons travelling to Afghanistan will be allowed to carry only $1,000/person/visit with … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to facilitate carpet industry, as it could earn huge foreign exchange for the country, a statement said. Talking to a delegation of the Pakistan Carpets Manufacturers and Exporters Association (PCMEA), the LCCI office-bearers suggested removing hurdles in transportation of raw materials, unwashed/unfinished … Read more
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Nasser Hyatt Maggo has welcomed the visit of Abdul Qadir Memon, chief collector Customs Enforcement and Compliance to the FPCCI head office and commended his efforts aimed at alleviating concerns of trade and industry. Hanif Lakhany, vice president of the FPCCI, said that … Read more
UNITED NATIONS: In exercising the right of reply at the General Debate of the Third Committee of the United Nations General Assembly, a Chinese envoy on Monday rejected false US accusations against China’s human rights situation and called for solidarity and cooperation. The United States used all sorts of trumped-up charges and fabricated lies to … Read more
ISLAMABAD: A group of students in the Pakistani capital Islamabad on Tuesday presented flowers and handmade colorful cards with best wishes to their class teacher to offer heartfelt respect and tributes for ensuring their studies amid the Covid-19 pandemic. “Miss! You are very great and we all love you very much because you cared for … Read more
WASHINGTON: The Federal Reserve has asked its watchdog to investigate the trading activities of senior officials, the US central bank said, after two resigned following criticism of their stock market activities. “As part of our comprehensive review, we began discussions last week with the Office of Inspector General for the Federal Reserve Board to initiate an … Read more
ISLAMABAD: The National Command and Operation Center (NCOC) on Tuesday confirmed 1,308 Covid-19 cases, and 54 deaths during the last 24 hours in Pakistan. The NCOC, the department leading campaign against the pandemic in the country, said that the number of Pakistan’s overall confirmed cases had risen to 1,252,656, including 1,178,883 recoveries. The number of … Read more
A 26-year-old successful tech-entrepreneur, who had started and sold a media company at the age of 17, said he will never send his children to university, Emirates News Agency WAM reported. “I have actually made a resolution to myself that when I have children I’m not going to send them to university. I know, it’s a crazy … Read more
Amid the ongoing criticism against Pakistan, Danish Foreign Minister Jeppe Kofod said on Friday that Islamabad has played a responsible role in promoting peace in the region, particularly in Afghanistan. According to Radio Pakistan, Kofod was addressing a joint press conference with Foreign Minister Shah Mahmood Qureshi in Islamabad after holding delegation-level talks at the Foreign … Read more
BAKU: The People of Azerbaijan marked the Commemoration Day with fervor and paid rich tributes to the martyrs of the 44-day patriotic war to counter the military offensive of Armenia within the framework of the right to self-defence, according to a statement issued by the Ministry of Foreign Affairs of Azerbaijan. “We commemorate with deep … Read more
ABU DHABI: Abu Dhabi Chamber of Commerce and Industry director general (DG) Mohamed Helal Al Mheiri has stressed the need for bolstering up trade ties and businesses between Abu Dhabi and Pakistan, according to Emirates News Agency WAM reported. He called on Pakistan’s Ambassador to the UAE Afzaal Mahmood at the chamber’s head office in Abu Dhabi … Read more
