WASHINGTON: The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its lustre recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. The difficulties of the real estate sector in China triggered by … Read more
The Supreme Court on Wednesday gave the government a four-week deadline to submit a progress report in the Army Public School Peshawar attack case. Earlier today, Prime Minister Imran Khan appeared before the apex court after a three-judge bench — headed by Chief Justice of Pakistan (CJP) Gulzar Ahmed, and comprising Justice Qazi Mohammad Amin … Read more
ISLAMABAD: The International Cricket Council (ICC) on Tuesday confirmed the match official appointments for the semi-final stage of the ICC Men’s T20 World Cup 2021. The first semi-final on Wednesday, between England and New Zealand, would be overseen by on-field umpires Marais Erasmus and Kumar Dharmasena, with Nitin Menon serving as the third umpire, Paul … Read more
LAHORE: A citizen, Rashid Karamat Butt, has submitted an application against dengue mosquitoes for killing people in the city at Batapur Police Station. With his bizarre reason, Butt reached Batapur police station in Lahore on Tuesday to file a case against dengue mosquitoes. The police did accept his application, however, refused to enter a case. … Read more
LAHORE: Punjab Planning and Development Board chairman Abdullah Khan Sumbal chaired a meeting to review the pace of work on the Public Sector Development Programme (PSDP) projects, including roads, irrigation, agriculture, livestock, health, higher education, climate change and energy, a statement said. The objective of the meeting was to review the progress of the ongoing … Read more
LAHORE: US Consul General William K Makaneole and Water and Power Development Authority (Wapda) Chairman Lt Gen Muzammil Hussain (Retd) discussed the progress on various hydropower projects, a statement said. The US consul general was accompanied by USAID director for Office of Energy Jenna Diallo during the meeting held at the Wapda House. The Wapda … Read more
KARACHI: Pakistan stocks opened on a bullish note as the KSE-100 Index witnessed a surge of 275.42 points, or 0.59 per cent, in the first hour of trading on Wednesday. The index on Tuesday went towards the red zone since the start of the trading session on news flow regarding uncertainty of the ongoing IMF … Read more
ISLAMABAD: The government is committed to fast-track various projects being funded by the World Bank, a senior official said. Referring to the K4 project, during a meeting with the World Bank delegation, led by South Asia Regional Director for Infrastructure Guangzhe Chen, Federal Minister for Planning Asad Umar said the government is focusing on the … Read more
RIYADH: The Saudi economy grew in the third quarter of 2021 by the fastest pace since 2012, as the country’s oil output rose over the last year. The kingdom’s real GDP grew at an annual rate of 6.8 per cent in the third quarter, compared with the negative growth of 4.5 per cent a year … Read more
LIMASSOL: Moody’s Investors Service affirmed the long-term deposit ratings of the nine banks it rates in Saudi Arabia, as well as the senior unsecured and subordinated debt ratings of their affiliated entities, where applicable, Arab News quoted the rating agency, as saying, in a statement. At the same time, Moody’s changed the outlook on the long-term deposit … Read more
KARACHI: The US dollar gained 37 paisas against the rupee in early trade at the interbank foreign exchange market on Wednesday. The dollar is being traded at Rs172 to the rupee till filing of this report at 10:00am today. On Tuesday, the exchange rate closed at Rs171.63. The local currency recorded a significant gain during … Read more
RIYADH: The Red Sea Development Company (TRSDC) is now one of the top-ranking sustainable tourism developers of the world, as it scored high in the Global Real Estate Sustainability Benchmark, Arab News reported. The developer behind the world’s most ambitious regenerative tourism project achieved an overall score of 91 of 100 in this year’s ESG-assessment and … Read more
CAIRO: The global airlines’ share price witnessed a decline of 7.2 per cent in October, compared with September, as concerns about rising jet fuel prices increase, the International Air Transport Association (IATA) reported in its latest Airlines Financial Monitor. Jet fuel prices increased 70 per cent in early November, compared with the start of the … Read more
RIYADH: Bitcoin and Ether made record peaks in Asian trade with enthusiasm for cryptocurrency adoption and worry about inflation driving momentum and flows into the asset class, Arab News reported. Bitcoin, the leading cryptocurrency is trading internationally, traded higher on Tuesday, rising by 2.99 per cent to $67,809 at 4:18 pm Riyadh time. Ether, the … Read more
Qatar Petroleum raised the official selling prices (OSP) of its marine and land crudes in December, a pricing document posted on its website showed. Qatar marine was set at a premium of $2.20/barrel over the Dubai/Oman crudes average and Qatar land was priced at a premium of $2.55/barrel over the same benchmark. In November the … Read more
RIYADH: The UAE-based business advisory firm, Creative Zone, will now accept payment in cryptocurrency after teaming up with the payment gateway company TripleA, Arab News reported. TripleA’s crypto invoicing tool bridges the gap between companies that want to accept crypto and customers who wish to pay in crypto. Companies do not need to manage crypto … Read more
SHANGHAI: Influenced by a new type of consumers and buoyed by the upcoming shopping season in China, exhibitors at the ongoing China International Import Expo (CIIE) have been showcasing more varied products and new marketing methods. The 4th CIIE, held in Shanghai on Nov. 5-10, has drawn nearly 3,000 businesses from 127 countries and regions. … Read more
RIYADH: The Standard Chartered has launched the UAE’s first sustainable account, Arab News quoted a statement issued by the international banking group. The product, meant for large corporates, provides clients with the opportunity to contribute to sustainable development in line with the UN’s goals. Rola Abu Manneh, chief executive officer, Standard Chartered, UAE, said: “Our sustainable account … Read more
NEW DELHI: Rohit Sharma has been named the new captain of India’s T20 side, replacing Virat Kohli, the cricket board said Tuesday after the side were dumped out of the World Cup. The Board of Cricket Control of India tweeted that the 34-year-old opening batsman was “named the T20I Captain for India” as it announced the … Read more
JEDDAH: Saudi nationals show a strong appetite for owning electric vehicles, Arab News quoted a report published by Kearney. The consulting firm conducted a survey which showed that 15 per cent of those surveyed plan to own an electric car in the next three years. It showed that while 80 per cent of the Saudi … Read more
RIYADH: The Pakistan-based fintech and e-commerce super app “Udhaar Book” has successfully raised $6 million in a seed round with participation from regional and international investors, MAGNiTT reported. Fatima Gobi Ventures, Plaid co-founder William Hockey’s Muir Capital, Tinder co-founder Justin Mateen’s JAM Fund, Commerce Ventures, Liberty City Ventures, Atlas Ventures, Integra Partners, and angel investors … Read more
LEEDS: New Yorkshire chairman Kamlesh Patel praised Azeem Rafiq for speaking out over racist abuse on Monday as he revealed the county had settled an employment case with their former player. Pakistan-born Rafiq has accused Yorkshire of failing to deal adequately with racist abuse he suffered while playing for the county, saying he had been driven to thoughts of … Read more
Nobel Peace Prize winner Malala Yousafzai, who was shot by the Taliban for campaigning for girls’ education, has found her partner and we couldn’t be more glad for her. The 24-year-old activist got married on Tuesday in a small ceremony in Birmingham, England. She announced the news about her nikkah with Asser Malik on Twitter … Read more
ABU DHABI: England skipper Eoin Morgan said on Tuesday the team’s ability to “forge on” despite injury blows at the Twenty20 World Cup kept them positive ahead of the semi-final against New Zealand. In-form opener Jason Roy and pace bowler Tymal Mills are the latest injury pullouts from an England squad that came into the tournament without … Read more
WASHINGTON: Drugmakers Pfizer and BioNTech announced on Tuesday they have formally submitted a request asking US officials for emergency authorisation of their Covid-19 booster vaccine for people aged 18 and older. The move follows research published by the companies in late October indicating a third shot is 95.6 per cent effective against symptomatic infection, based on clinical … Read more
LONDON: Yorkshire Country Cricket Club have suspended first-team coach Andrew Gale pending a disciplinary hearing into a historic tweet, accused of being anti-semitic. The club is reeling from a racism scandal that saw chairman Roger Hutton resign last week after sponsors pulled their backing and the England and Wales Cricket Board (ECB) stripped Headingley of the right … Read more
WELLINGTON: Pacific Rim trade and foreign ministers agreed at a virtual summit on Wednesday that free trade and open economies will drive the region’s recovery from the coronavirus pandemic. Ministers from the 21-nation Asia-Pacific Economic Cooperation (APEC) group met online to discuss their Covid-19 response ahead of a meeting of national leaders on Saturday, including US … Read more
Pakistan’s first quarter fiscal deficit narrows to 0.8% KARACHI: The budget deficit for the first quarter (July-September) of the current fiscal year narrowed to 0.8 per cent of the GDP, compared with the deficit of 1.1 per cent in the same quarter of the last fiscal year, according to details released by the Finance Ministry. … Read more
