RIYADH: Iraq’s October oil exports stood at 3.12 million barrels per day (bpd), Arab News quoted oil ministry, citing preliminary data from state-owned oil marketing company Somo, as showing. This is a slight increase in export volumes compared to the previous month of September when the country exported on average 3.08 million bpd. Data for the most … Read more
RIYADH: Riyadh has launched 50 investment competitions for firms across 10 commercial activities to help “improve the quality of services provided to the residents and visitors of the capital”, SPA reported. The diverse range of projects includes two commercial buildings, four gardens, a social club for the elderly, 12 ready-mix concrete plants, a gas station, a multi-storied … Read more
RIYADH: Saudi Arabia’s public debt increased SR25.5 billion ($6.8 billion) in the third quarter of this year, reflecting a growth rate over the period of 2.8 per cent, Arab News reported. The total debt now stands at SR948.3 billion, the recent quarterly budget performance report revealed. The increase was almost solely due to the growth in domestic … Read more
ISLAMABAD: The Free Trade Agreement (FTA) between Pakistan and Thailand is expected to be finalised by the end of the current year, a diplomat said. The process of dialogue between the two countries has been slowing down during the Covid-19 pandemic period, Ambassador of Thailand to Pakistan Chakkrid Krachaiwong said. The first idea for an … Read more
ISLAMABAD: Pakistan hopes to export meat and meat preparations worth $500 million by the end of the current fiscal year (FY22) after getting access to the Jordanian and Indonesian halal meat markets, officials said. The veterinary and animal health directorate of Jordan’s Agriculture Ministry allowed three Pakistani meat processing facilities to export bovine, sheep, goat … Read more
ISLAMABAD: Board of Investment (BoI) secretary Fareena Mazhar has encouraged investors to explore housing sector of Pakistan, which offered tremendous “tax-based rebates”. Eligible developers and builders would be exempted from withholding taxes on the purchase of building materials, she said. The Board of Investment held an investment seminar on the “Construction and Housing for Sustainable … Read more
KARACHI: The Energy Department of the provincial government has finalised the Sindh Waste to Energy Policy 2021, which will be presented before the Sindh Cabinet in the upcoming meeting, an official of the provincial Information Ministry said. The meeting was chaired by Sindh Minister for Energy Imtiaz Sheikh. During the meeting it was informed that … Read more
COPENHAGEN: Driven by a huge demand for freight, coupled with increased freight rates, the Danish shipping giant Maersk achieved record profits in the third quarter of 2021, according to the company’s interim accounts. “Revenue was up 68 per cent to $16.6 billion, compared with the same quarter [of the] last year, earnings before interest, taxes, … Read more
KARACHI: Korangi Association of Trade and Industry (Kati) president Salman Aslam has thanked Prime Minister Imran Khan for maintaining the prices of petroleum products, a statement said. This move of the government would provide some relief to the industrialists, he said, adding that in the current rate of inflation, the people and industrialists could not … Read more
KARACHI: Mian Nasser Hyatt Maggo, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has commended the efforts of the Federal Tax Ombudsman of Pakistan office in attempting to eradicate corruption and harassment by the tax collection machinery, a statement said. The FTO has rightfully identified the practices in the Federal Board … Read more
KARACHI: Shell Pakistan Limited has collaborated with TPL Trakker Limited to launch Shell Telematics, an all-in-one fleet management solution for corporate customers, a first-of-its-kind in Pakistan, a statement said. Through this collaboration, a customer’s Shell Fleet Card will be linked with the TPL Trakker in their vehicle to generate a comprehensive picture of fleet performance … Read more
LAHORE: Cooperation between Pakistan and Kazakhstan would be beneficial for the entire region, a diplomat said. Speaking at a meeting at the Lahore Chamber of Commerce and Industry (LCCI), Ambassador of Kazakhstan to Pakistan Yerzhan Kistafin stressed the need for taking steps to enhance the volume of bilateral trade. LCCI president Mian Nauman Kabir, vice … Read more
ISLAMABAD: President Dr Arif Alvi termed the intellectual excellence key to match the pace of global advancement and said Pakistan needed to achieve an edge in applied sciences to bring in a real transformation and ensure development. Addressing the convocation of Quaid-e-Azam University (QAU) at the Jinnah Convention Centre, the president said equipping the country’s … Read more
TAWANG TOWN, India: On the winding road up to India’s Himalayan frontier is a postcard view of gushing streams and tranquil lakes – punctuated occasionally by the sight of artillery barrels and military bunkers. A year after deadly high-altitude clashes with Chinese soldiers, India is ramping up its border defences along a treacherous mountain range that has … Read more
PERTH, Australia: A four-year-old Australian girl abducted from a campsite 18 days ago was found “alive and well” in a locked house on Wednesday, telling elated police officers: “My name is Cleo.” Cleo Smith disappeared from her family’s tent in Western Australia last month, sparking a frantic air, sea and ground search involving 100 officers, one that … Read more
ISLAMABAD: Pakistan has strongly condemned a terrorist attack in the Afghan capital Kabul that claimed the lives of at least 19 people, said a statement from Pakistan’s Ministry of Foreign Affairs (FO) on Tuesday. “We share the pain and suffering of the families who lost their loved ones in these mindless terrorist acts. We also … Read more
KIEV: Ukraine has denied reports of a Russian military build-up near its eastern border that raised fears of a new escalation in fighting with pro-Moscow separatists. Videos posted on social media in recent days showed Russian military trains and truck convoys moving tanks and missiles in the country’s southwest near the Ukrainian border. Pentagon spokesman John … Read more
PARIS: Over the past month, hundreds of survivors and relatives of victims of the November 2015 Paris attacks have recounted their ordeal in harrowing detail at a historic trial held over the atrocities. The biggest trial in modern French history went to extraordinary lengths to ensure that those caught up in the Islamic State attacks, which left 130 … Read more
TEHRAN: Pirates attempted to seize an Iranian oil tanker in the Gulf of Aden in the second such incident in a fortnight, Iran’s ISNA news agency reported on Tuesday. The vessel was headed towards the Bab al-Mandeb strait at the entrance to the Red Sea when six pirates aboard four vessels attempted to board it, drawing warning shots … Read more
BEIJING: China said it has increased daily coal production by over one million tonnes, easing its energy shortage as world leaders gather in Britain for climate talks billed as one of the last chances to avert catastrophic global warming. The world’s biggest coal importer has battled widespread power cuts in recent months that have disrupted supply chains, … Read more
LULEÅ, Sweden: In a gleaming new building in the northern Swedish town of Lulea, steelmaker SSAB is using a new manufacturing method that could revolutionise the highly-polluting industry by eliminating nearly all its CO2 emissions. But making the method work at scale poses major challenges and the technique may not be the ‘silver bullet’ everyone is … Read more
DUBAI: China said that it would increase wind and solar power capacity to more than 1,200 gigawatts and increase non-fossil fuels to 25 per cent of the primary energy use, Arab News reported. A practical move in anticipation of COP26, where world leaders will discuss policies to fight climate change, China has begun building major wind and … Read more
DUBAI: Dubai has announced the listing of 10 government and state-owned companies on the Dubai financial market, in an effort to accelerate new listings in various sectors, including energy, logistics and retail, Arab News reported. Sheikh Maktoum bin Mohammed bin Rashid, deputy ruler of Dubai and UAE minister of finance, also announced the formation of a Dubai … Read more
RIYADH: Saudi Arabia and Oman have signed two agreements to enhance cooperation in land and air transport, Arab News reported. “The memorandums of understanding aim at exchanging experiences between the two sides and enhance cooperation in these sectors,” the kingdom’s Ministry of Transport and Logistics said in a statement after the signing in the capital, Riyadh. The … Read more
RIYADH: Saudi Finance Minister Mohammed Al-Jadaan revealed that there will be no reduction in value-added tax (VAT) in the near future, but it would be considered when public finances improve in several years, Arab News reported. The goal of the VAT is to deal with the shock of the Corona pandemic, he said. There will be no … Read more
ISLAMABAD: Serious efforts and prudent policies of Prime Minister Imran Khan bore fruit, as all the major economic indicators were on an upward trajectory, resulting in sustainable growth of the national economy, an official said. In a tweet, Minister of State for Information and Broadcasting Farrukh Habib said that all the economic indicators, including exports, … Read more
KARACHI: The Sindh Engro Coal Mining Company (SECMC) board has approved the expansion of its Thar Coal Block II mine to 12.2 million tonnes/annum (Phase III), a statement said. With this expansion, coal price of SECMC mine will reduce to $27/tonne, it added. SECMC is expected to complete this expansion by June 2023. At a … Read more
LAHORE: The government was making sincere efforts to provide due rights and facilities to the labourers, an official said. Speaking at a consultative workshop on proposed amendments in the Punjab Social Security Act, provincial Minister for Industries Mian Aslam Iqbal said that there was a need to change five decades old act for the protection … Read more
