DUBAI: The global crude demand both for 2021 and 2022 will be lower than previously forecast on the concerns of travel restrictions extending into the next year, Khaleej Times quoted the US Energy Information Administration, as saying. Despite the lower-than-expected demand surge, the EIA still foresees a 5 million bpd increase this year and another 3.6 million … Read more
NANNING: Pakistani goods have a strong competitive force at the 18th China-Asean Expo, especially the textile sector, which remains one of Pakistan’s flagship products, a diplomat said. “Pakistan has already opened the market of China and Asean. These years, Pakistan’s exports have recorded a new volume, exports to China are showing great momentum, as well, … Read more
SIALKOT: The government was well-aware of the problems being faced by the business community and making all out sincere efforts for their early resolution, a government official said. Talking to the business community at a dinner hosted by him, Special Assistant to the Prime Minister on Youth Affairs Usman Dar said that the government was taking effective … Read more
NANNING: Pakistan’s Ambassador to China Moin-ul-Haque on Saturday invited the leading Chinese entrepreneurs to come and take advantage of the conducive and investment-friendly environment and a number of incentives offered by the government in Pakistan. Addressing the participants of the China-Pakistan Trade and Business Forum held on the sidelines of the China-Asean Expo, being held … Read more
ISLAMABAD: The Taliban victory in Afghanistan is being widely hailed by the Pakistanis, but security officials remain wary that the developments on its northwestern frontier might “inspire” extremists and radical Islamists in the country. “We have controlled the genie of extremism after a lot of sacrifices and efforts,” a top security official said in a … Read more
RIYADH: Opec will likely revise down its 2022 oil demand growth forecast on Monday when it publishes its monthly report, two Opec+ sources told Reuters, as the spread of the delta coronavirus variant puts the speed of a fuel use recovery in doubt. Opec did not change its forecast in July and August reports. About … Read more
NANNING: Pakistani traders and businessmen showcased marble, wood handicrafts, carpets, leather garments and other products of the country at the 18th China-Asean Expo in Nanning, China on Friday. Pakistan, with an exhibition area of 81 square metres, has set up a pavilion, as well as 24 booths to showcase its national image and display its … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has decided to grant one-time opportunity to the taxpayers who paid their tax under the Assets Declaration Ordinance 2019 but somehow could not file their declarations. The Assets Declaration Ordinance 2019 was promulgated on May 14, 2019 for the payment of tax and declaration of corresponding assets by … Read more
ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Friday approved the highest bid of Rs1.96 billion received for the privatisation of the Services International Hotel, Lahore. Federal Minister for Finance and Revenue Shaukat Tarin, presided over the meeting. The committee approved the summary, tabled by the Privatisation Commission Board, recommending the highest bid of around … Read more
ISLAMABAD: The overall Sensitive Price Indicator (SPI)-based inflation for the week ended September 9 recorded an increase of 1.37 per cent, compared with the previous week, the latest data released by the Pakistan Bureau of Statistics (PBS) reported on Friday. The weekly SPI with base year 2015/16=100 is covering 17 urban centres and 51 essential … Read more
ISLAMABAD: Prime Minister Imran Khan on Friday said that with all economic indicators moving towards a positive trajectory, there was a need to take immediate measures to check the existing gap between imports and exports. He directed the Commerce Division to present within the next two weeks Strategic Exports Framework for approval and set targets … Read more
European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity. Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states. The European Commission, the EU executive that … Read more
FRANKFURT: The European Central Bank (ECB) decided on Thursday to leave its key interest rates unchanged and set a “moderately lower pace” for pandemic-related bond buying. “Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of … Read more
ISLAMABAD: President Dr Arif Alvi has said that Pakistan’s unique geo-economic location offered tremendous opportunities for transport, trade, transit trade and ICT connectivity to the entire region. The president, in a meeting with the envoys-designate of different countries, said Pakistan attached great importance to promotion of trade, business and commercial cooperation with friendly countries under … Read more
DUBAI: Abu Dhabi locked in $3 billion with its second bond sale of the year for which it received more than $9.75 billion in orders for two tranches, Arab News quoted a bank document as showing. The emirate sold $1.75 billion in 10-year bonds at 63 basis points (bps) over US Treasuries (UST) and $1.25 … Read more
ISLAMABAD: A consultative workshop on Innovative Financing for Agricultural Research was jointly organised by the Ministry of National Food Security and Research (MNFSR) and the Food and Agriculture Organization (FAO) of the United Nations to provide an opportunity to look at examples of financial mechanisms for research in Pakistan and around the world. Federal Minister … Read more
LAHORE: PML-N President Shehbaz Sharif has expressed grave concern and alarm over Pakistan’s expulsion from the list of emerging markets (EM) on the Morgan Stanley Capital International’s indexes. In a statement, Shehbaz said this exclusion from the MSCI’s list was “deeply disturbing and worrying”. He said that this is indicative of the rapidly deteriorating economic … Read more
El Salvador on Tuesday became the first country in the world to accept Bitcoin as a legal tender, despite widespread domestic scepticism and international warnings of risks for consumers. President Nayib Bukele’s government claims the move will give many Salvadorans access to bank services for the first time and save some $400 million in fees … Read more
Punjab Education Minister Murad Raas announced on Tuesday that the provincial government has sent a letter to Lahore’s Aitchison College for not implementing the newly introduced Single National Curriculum. “Letter sent to Aitchison College Lahore for NOT implementing Single National Curriculum in its entirety by Punjab Curriculum and Textbook Board,” tweeted Raas along with the … Read more
Prime Minister Imran Khan said on Tuesday that he was proud to be part of the 2007 lawyers’ movement, led by former chief justice Iftikhar Chaudhry, which tried strengthening democracy and ensuring rule of law in the country. “I am proud of being part of the 2007 lawyers’ movement which was aimed at strengthening democracy … Read more
Prime Minister Imran Khan urged the world on Monday that it was “vital to stabilise the security situation” in Afghanistan at the country’s critical juncture. “It is vital to stabilise the security situation in Afghanistan, take steps to consolidate peace, and preclude any mass exodus of refugees,” Prime Minister Imran told Italian Foreign Minister Luigi … Read more
Pakistan on Monday slammed India for the “reprehensible act” of registering cases on “trumped up charges” against the grieving family members of Kashmiri leader Syed Ali Shah Geelani. “After denying the family the right to bury Syed Ali Shah Geelani as per his will, the Indian occupation forces have further resorted to harassing the family … Read more
ISLAMABAD: The exports of the petroleum group and coal during the first month of FY 2021/22 grew 252.96 per cent, compared with the exports of the corresponding period of the last year. During the period from July 21, the petroleum group and coal worth $29,405 were exported, compared with the exports of $8,331 during the … Read more
ISLAMABAD: Federal Minister for Industries and Production Makhdoom Khusro Bakhtyar on Monday invited the Japanese automobile companies to explore the potential of exporting automobile parts to other countries. During a meeting with Ambassador of Japan to Pakistan Kuinori Matsuda, both leaders shared the key areas of cooperation in the industrial sector and modernisation of the … Read more
ISLAMABAD: Pakistan’s exports of various sectors, including textiles and agriculture registered an increase in August 2021, a senior government official said on Monday. In a tweet, Adviser to the Prime Minster on Commerce and Investment Abdul Razak Dawood said that during August 2021, the exports of home textiles, men’s garments, cotton fabric, rice, jerseys, fruits, … Read more
Italian Foreign Minister Luigi Di Maio is in Islamabad to hold talks with Foreign Minister Shah Mahmood Qureshi on the latest developments in Afghanistan, announced the Foreign Office. According to the FO, the two foreign ministers will exchange views on Afghanistan and focus on bilateral relations. “Pakistan and Italy enjoy cordial relations, bilaterally as well … Read more
Prime Minister Imran Khan believes that Pakistan can “retire its entire foreign debt” by promoting tourism, Radio Pakistan reported on Monday. Addressing a groundbreaking ceremony of an international hotel in Nathia Gali on Monday, the premier highlighted the potential of tourism. “The government is giving importance to the sector for wealth creation,” said PM Imran. … Read more
Director-General of the Inter-Services Intelligence (ISI) Lt Gen Faiz Hameed is in Kabul to hold talks with the Afghan Taliban, reported multiple media outlets on Saturday. According to sources, the DG ISI arrived in Kabul under the direction of Prime Minister Imran Khan. They added that the PM sent the intelligence chief of the country … Read more
