ISLAMABAD: Pakistan has started exports of 4G smartphones and the Airlink Communications should be commended for playing an integral role in this process, a senior government official said on Saturday. In a tweet, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood congratulated Airlink Communications for making this process a success and … Read more
BEIJING: Shipments of 5G phones in China surged 79.7 per cent on a year-on-year basis to 168 million units in the first eight months of the current fiscal year, data from the China Academy of Information and Communications Technology (CAICT) showed on Saturday. The volume accounted for 74.1 per cent of the country’s total mobile … Read more
UNITED NATIONS: Pakistan on Friday rejected India’s claim at the United Nations (UN) that Indian Illegally Occupied Jammu and Kashmir (IIOJK) was its integral part, saying the Himalayan state was an internationally recognised disputed territory. “Jammu and Kashmir neither is an integral part of India nor is it India’s internal matter,” Pakistani delegate Saima Saleem … Read more
Xinhua BEIJING: China’s software and information technology sector sustained sound growth momentum in the first eight months, with its operating revenue maintaining steady expansion, official data showed. Software revenue of the sector totaled 5.97 trillion yuan (about 924 billion US dollars) during the period, climbing 20.8 per cent year on year, according to the Ministry … Read more
WASHINGTON: After an investigation found she used her senior role at the World Bank to manipulate data in favour of China, IMF managing director Kristalina Georgieva on Friday issued a statement again denying misconduct and rejecting the report. “Let me be clear: the conclusions are wrong. I did not pressure anyone to alter any reports. There … Read more
BEIJING: The 50MW Master Green Wind Power Project executed by the HydroChina International Engineering Company, a member company of PowerChina, will deliver 168 million kWh/annum clean energy for Pakistan, project manager Lv Guanghua, said. The project located in Jamshoro district, Sindh has achieved COD on August 20 and its availability during the reliability running test … Read more
LONDON: The Bank of England is set to keep its stimulus and record-low interest rate on Thursday but could follow the Federal Reserve in signalling when it will taper emergency support, analysts say. The BoE’s monetary policy committee is expected to keep its cost of borrowing at 0.1 per cent and maintain its cash stimulus pumping … Read more
KARACHI: The federal government is in the process of privatising the National Power Parks Management Company Limited (NPPMCL), which owned two power plants of Haveli Bahdur Shah Power Plant (1,230MW) in Jhang district and Balloki Power Plant (1,223MW) in Kasur district. Federal Minister for Privatisation Mohammedmian Soomro expressed these views, while chairing a meeting held … Read more
LAHORE: President Dr Arif Alvi has said that the government is taking practical measures for improving the business environment and encouraging foreign investment. “[The] government is ensuring ease of doing business for attracting maximum foreign investment. [The] growth of the industrial sector is a key for economic uplift of the country,” he said, while speaking … Read more
BEIJING: Huawei executive Meng Wanzhou was headed home from Vancouver on Saturday as two Canadians were released from prison in China, bringing a close to a bitter diplomatic row that has poisoned ties for three years. Meng and the two Canadians – former diplomat Michael Kovrig and businessman Michael Spavor – are all on their … Read more
UNITED NATIONS: Pakistan and India clashed Friday at the United Nations as Pakistani Prime Minister Imran Khan called the rival of a “reign of terror” on Muslims, drawing a stern rebuke. PM’s speech to the annual summit was loaded as he accused Indian Prime Minister Narendra Modi of a plan to “purge India of Muslims.” … Read more
KARACHI: Pakistan equity market continued its downward trend on Friday, as investors remained jittery over the limits imposed by the central bank on automobile and industrial financing, just after increasing the interest rates, dealers said. An analyst at Topline Securities said continuing its bearish momentum, the KSE-100 index largely remained in the red zone on … Read more
ISLAMABAD: The Pakistan Single Window (PSW) is a facility that allows parties involved in trade and transport in Pakistan to lodge standardised information and documents at a single registration point, eliminating the hidden costs and removes inefficiencies in governance of international trade, including logistics. This was stated during the maiden meeting of the Governing Council … Read more
Our Correspondent KARACHI: Climate crisis is getting worse and it is re-shaping the development paradigm and socioeconomic structure of the society. To address this global challenge, youth should come forward and take the leadership role. This was stated by speakers during a seminar titled “Enhancing awareness and engagement of youth towards addressing coastal climate vulnerabilities … Read more
LAHORE: President Dr Arif Alvi said the glorious teachings of the Holy Prophet (Peace Be Upon Him) are a beacon of light for and urged Pakistanis to seek guidance from His life to overcome egoistic attitudes. Addressing a passing out ceremony of the participants of 114th National Management Course at National Management College on Friday, … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has categorically rebutted the unfounded, malicious in intent and misleading in content a propaganda being advanced by some irresponsible elements that there was a huge flight of dollars from Pakistan. The revenue board clarified that previously the bilateral trade between Pakistan and Afghanistan was carried out in US … Read more
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has requested the government to extend the last date for filing income tax returns for a month to October 31, 2021 from September 30, 2021, a statement said on Friday. KCCI president M Shariq Vohra said that several taxpayers were finding it difficult to file their … Read more
FRANKFURT: European Central Bank chief Christine Lagarde said on Friday that the potential collapse of the troubled Chinese real-estate giant Evergrande would have a “limited” impact on the eurozone. Markets plunged at the beginning of the week by fears that Evergrande, one of China’s biggest developers in the crucial property sector, would collapse under debts … Read more
KARACHI: The Deposit Protection Corporation (DPC) has increased the guarantee amount for all eligible depositors of banks from Rs250,000 to Rs500,000, the central bank said on Friday. The decision was made by the board members of the corporation in their meeting held on September 6, 2021. This enhanced guarantee amount now provides full protection up … Read more
KARACHI: The rupee fell five paisas against the dollar on Friday, as external payments kept pressure on the exchange rate. The exchange rate ended at Rs169.08 against the greenback from the previous day’s closing of Rs169.03 in the interbank foreign exchange market. The dealers said the demand for the foreign currency was higher ahead of … Read more
LAHORE: Cyber Crime Wing of the Federal Investigation Agency (FIA) Lahore has registered a case against two employees of Kot Khawaja Saeed Hospital for making ‘fake entry’ of PML-N supremo and former prime minister Nawaz Sharif’s Covid-19 vaccination. According to an FIA official, security guard Abdul Hassan and ward attendant Adil Rafique have been nominated … Read more
KARACHI: Pakistan’s liquid foreign exchange reserves decreased $663 million to $26.402 billion by the week ended September 17, 2021, The State Bank of Pakistan (SBP) reported on Thursday. The foreign exchange reserves of the country were $27.065 billion by the week ended September 10, 2021. The official foreign exchange reserves of the State Bank also … Read more
STOCKHOLM: Nobel Prize winners in science and literature will receive their awards in their home countries rather than Sweden for the second year running because of the pandemic, organisers said on Thursday. The Nobel Foundation said a decision on the Peace Prize, which is usually awarded in Norway, had not been made yet. The winners … Read more
KARACHI: Total power generation for August 2021 was recorded at 16,078GWh, which is nearly 10 per cent higher than the same month last year. On a sequential basis, the power generation surged 3 per cent. Incorporating the latest numbers, the total generation for the eight months of CY21 (January-August 2021) lands at 93,934GWh, nearly 11 … Read more
KARACHI: Pakistan stocks continued to witness pressure, amid selling over the lack of positive triggers, dealers said on Thursday. An analyst at Pearl Securities said, “Investors seem to be too worried about the prerequisite over the IMF programme, which may result in higher import duties, increase in [the] power tariff and substantial rise in gas … Read more
ISLAMABAD: The Directorate of Intelligence and Investigation, Inland Revenue (I&I-IR), Lahore conducted a raid on the business premises of a steel mill located at Ferozwala, Sheikhupura district and unearthed an estimated tax evasion of Rs400 million. The steel mill was engaged in the manufacturing of steel bars, ingots and billets. During the initial investigation, it … Read more
KARACHI: The Expo 2020 Dubai’s must-see aviation attraction is gearing up to open its doors to the public on October 1, 2021, a statement said on Thursday. Located in the Opportunity District, and within walking distance of the Al Wasl Dome, the Emirates Pavilion offers a preview for the future of commercial aviation, reframing the … Read more
KARACHI: To meet the increasing demand from the valued customers, Indus Motor is striving to increase the production capacity by 20 per cent by April 2022, an official said on Thursday. IMC chief executive officer Ali Asghar Jamali in a statement on Thursday said that the recently announced $100 million investment is completely for hybrid … Read more
