KARACHI: Recover™ has signed a multiyear agreement with Al-Karam Textile Mills to provide a collaborative end-to-end solution to meet the design, development, production and sustainability demands in the home textile industry, a statement said. The partnership will allow Al-Karam Textile Mills to seamlessly integrate the lowest impact and sustainable Recover™ recycled cotton fibre into their … Read more
ISLAMABAD: Pakistan’s reform process in the power sector, as well as efforts to enhance revenue collection, are bearing fruits, a senior government official said. During a meeting with Yong Ye, country director of the Asian Development Bank (ADB), who paid a courtesy call on him, Federal Finance and Revenue Minister Shaukat Tarin said that the … Read more
KARACHI: The liquid foreign exchange reserves of Pakistan have dropped $252 million to $26.151 billion by the week ended September 24, 2021, the State Bank of Pakistan (SBP) reported on Thursday. The foreign exchange reserves of the country were at $26.403 billion by the week ended September 17, 2021. The official reserves of the central … Read more
LONDON: A British police officer was on Thursday sentenced to spend the rest of his life in jail for the kidnap, rape and murder of Sarah Everard, whose disappearance sparked protests and calls for action against male violence. Wayne Couzens, 48, snatched the 33-year-old marketing executive in south London in March, after falsely arresting her … Read more
KARACHI: The Pakistan equity market witnessed a sharp recovery on Thursday, as investors opted for bottom fishing in the oversold market, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks showed sharp recovery led by scrips across-the-board at the quarter-end close on strong earnings outlook. “[The] higher global crude oil prices and … Read more
KARACHI: Finance Minister Shaukat Tarin on Thursday announced a 15-day extension in the due date for filing income tax returns. The finance minister made the announcement after listening to the problems being faced by the taxpayers in filing income tax returns, which were highlighted by a delegation of the Karachi Chamber of Commerce and Industry … Read more
LAHORE: Ambassador of the Kingdom of Saudi Arabia to Pakistan Nawaf bin Saeed Ahmed Al Malki called on Punjab Chief Minister Sardar Usman Buzdar to boost bilateral trade ties and cooperation of various sectors. The Saudi ambassador said the kingdom is keen to boost trade ties between the two countries and invited the Punjab CM … Read more
PARIS. France will lay out retaliatory measures next week against Britain’s refusal to grant all the fishing licences sought by French boats as part of a post-Brexit access deal, the maritime minister said on Thursday. Paris officials reacted furiously this week after UK and Jersey authorities issued only a fraction of the permits sought by … Read more
DONGGUAN/BEIJING. From southern factories hustling to meet Christmas export orders to residents of northern towns panic buying candles, China is suffering widespread power cuts that threaten growth in the world’s second-largest economy and hit global supply chains. A confluence of factors has led to the rolling brownouts in a country where nearly 60 per cent of … Read more
BEIJING. Chinese factory activity contracted in September for the first time since the height of its initial coronavirus outbreak in February 2020, official data showed on Thursday, as it faces waves of power outages and fears for the real estate sector. The Purchasing Managers’ Index (PMI) — a key gauge of manufacturing activity in the world’s … Read more
KARACHI: After witnessing a decline in new cases, the Sindh government on Thursday revised its coronavirus restrictions across the province. According to a notification issued by the provincial home department, businesses will be shut down only once a week, while markets will be allowed to remain open till 10:00 pm. Sunday will be observed as … Read more
TUNIS: Algeria pumps huge volumes of gas through Morocco into Europe, but with Algiers and Rabat at loggerheads as a pipeline agreement nears expiry, experts say the taps could soon be turned off. That would hit Spain’s gas supplies just as prices soar across Europe and with winter approaching, and Foreign Minister Jose Manuel Albares … Read more
LONDON: Britain’s economy performed better than expected in the second quarter, as households spent more and saved less following easing lockdown restrictions, official data showed on Thursday. Gross domestic product in the three months to June jumped 5.5 per cent, up sharply from a prior official estimate of 4.8 per cent, the Office for National … Read more
KATHMANDU: Nepal’s imports from China increased significantly during the first two months of the 2021-22 fiscal year starting in mid-July, in preparations for Dashain and Tihar festivals which feature spending sprees. Goods worth 42.84 billion Nepali rupees (360.18 million U.S. dollars) were imported from China during the period, up 76 per cent year-on-year, according to … Read more
MANILA: The Philippines’ debt ballooned to 11.64 trillion pesos (roughly 228.68 billion U.S. dollars) at the end of August, according to the latest data released by the Philippine Bureau of Treasury on Thursday. The bureau said the country’s total debt increased by 0.28 per cent “due to domestic debt issuance as part of government financing.” … Read more
KARACHI: The rupee lost another 18 paisas against the dollar on Thursday to make a new historic low of Rs170.66 in the interbank foreign exchange market, dealers said. The exchange rate ended at Rs170.66 against the greenback from last day’s closing of Rs170.48 in the interbank foreign exchange market. The dealers said the local currency … Read more
QUITO: The death toll in Ecuador’s latest prison violence has soared past 100, Ecuadorian officials said on Wednesday. The number of injured in the melee at Litoral Penitentiary remained at 52, according to the government agency in charge of prisons, the National Service for Comprehensive Attention to Adults Deprived of Liberty and Adolescent Offenders (SNAI). … Read more
PARIS: A French court on Thursday handed former president Nicolas Sarkozy a one-year sentence for illegal financing of his 2012 re-election bid, dealing a fresh blow to the right-winger six months after he received a jail term for corruption. Sarkozy, 66, will not serve time behind bars under the terms of Thursday’s verdict, with the court ruling … Read more
ISLAMABAD: Prime Minister Imran Khan on Thursday said the operationalisation of the country’s first-ever transmission line of 660kV high-voltage direct current (HVDC) would reduce the line losses to 4 per cent from 17 per cent, resulting in the availability of cheap electricity to the consumers. Addressing the inauguration of 886km-long Matiari-Lahore HVDC with a capacity … Read more
ISLAMABAD: The Balochistan government has completed 22 dam projects and feasibility studies of nine dams to irrigate thousands of acres of land in the province. According to an official source, these dams would reduce water scarcity and improve ground level water in respective areas. The provincial government has also planned to construct 49 new dams … Read more
KARACHI: The State Bank of Pakistan on Thursday mopped up Rs203 billion from the money market as repo sale for one day through its open market operation. Two bids of Rs203 billion were offered, which were accepted. The rate of return accepted is 7.22 per cent/annum, a statement issued by the central bank said.
KARACHI: The government has announced to extend the last date for exchanging bearer prize bonds in higher denominations up to December 31, 2021. According to a circular issued on Thursday by the State Bank of Pakistan (SBP), the date has been extended for three months from September 30, 2021 to exchange or convert unregistered prize … Read more
ISLAMABAD: The federal government has decided to resolve the issues of farmers on priority basis by allotting a special category for them on the Pakistan Citizens Portal. On the instructions of the prime minister, special directives were issued by the Prime Minister Delivery Unit, through a letter, to the provincial governments for resolution of the … Read more
LONDON: British luxury carmaker Rolls-Royce announced on Wednesday that all its products will be fully electric by 2030 as it is to begin on-road testing of its first fully electric model soon. The new electric car specter will undergo the most demanding testing program in Rolls-Royce’s history, covering 2.5 million km — a simulation of … Read more
JERUSALEM: Israeli forces killed a Palestinian woman who tried to stab officers in Jerusalem’s Old City on Thursday, hours after a Palestinian militant was shot dead in a West Bank clash, police said. The violence comes days after an Israeli raid in the occupied West Bank left five Palestinians dead. At dawn the sound of … Read more
MANAMA: Israel’s Foreign Minister Yair Lapid began a landmark visit Thursday to Bahrain where he will open the Israeli embassy one year after the US-brokered normalisation of ties. The Israeli top diplomat touched down at Manama airport, where a Gulf Air plane was due to take off for the first commercial flight between the two countries … Read more
KARACHI: The National Electric Power Regulatory Authority (Nepra) conducted a public hearing to discuss K-Electric’s petition on fuel charges adjustments for the month of August 2021. In the petition, the KE has requested for fuel charges adjustment for the month of August 2021 with an average impact on the consumers of 98 paisas/unit. The K-Electric … Read more
WASHINGTON: The top US general conceded in a stark admission on Wednesday that the United States “lost” the 20-year war in Afghanistan. “It is clear, it is obvious to all of us, that the war in Afghanistan did not end on the terms we wanted, with the Taliban in power in Kabul,” General Mark Milley, … Read more
