KARACHI: The Pakistani rupee dropped 99 paisas against the dollar on Monday as the forex reserves of the country hit a 22-months low amid foreign debt repayments, dealers said. The rupee shed 99 paisas to close at Rs182.54 to the dollar from Saturday’s closing of Rs181.55 in the interbank foreign exchange market. The local currency … Read more
COLOMBO: The Sri Lankan government sent a delegation to the International Monetary Fund (IMF) on Sunday to discuss ways to obtain loans from the lender. Finance Minister Ali Sabry and Central Bank Governor Nandalal Weerasinghe are part of the delegation. Next week, the delegation will travel to Washington, DC, to meet with IMF officials. They … Read more
The board of Brazil’s state-run oil company Petrobras on Thursday named Jose Mauro Coelho as third CEO in just over a year after President Jair Bolsonaro fired his predecessors in a stand-off over fuel hikes. Coelho was appointed for a one-year period, Petrobras said in a statement. He was the officials choice to succeed Joaquim … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Rice Exports Convener Rafique Suleman congratulated Mian Shahbaz Sharif on becoming Prime Minister of Pakistan, a statement said. In the current situation, the focus should be on improving the economic situation, improving the GDP growth rate, and further developing the agricultural … Read more
Money master Martin Lewis has notified civil unrest “isn’t far away” as people will “get angry” about the increase in living rates. The financial journalist, 49, said that the Government should do more to help families all over the United Kingdom brawling to make ends encounter as the rates of food and fuel rise and taxes go … Read more
Pakistan Cricket Board (PCB) chairman Ramiz Raja congratulated both the Australian and Pakistan cricket teams produced engaging, exciting, and competitive cricket throughout the 38-day historic tour. “The three-Test series was combative and engrossing going into the last hour of the 15th day to find a winner, while white-ball cricket confirmed the high billing and calibre … Read more
Following Foreign Minister Yoshimasa Hayashi’s travel to Poland, twenty Ukrainians arrived in Tokyo on a government jet on Tuesday, as Japan cautiously welcomes those escaping Moscow’s incursion. While it has opened its doors to Ukrainians, it refers to them as “evacuees” rather than refugees. Japan generally takes only a few dozen refugees per year from … Read more
Authorities claimed they discovered six mutilated remains in a truck in southern Mexico on Thursday, as President Andres Manuel Lopez Obrador accused popular television shows of glamorizing the brutal drug trade. Prosecutors said the remains were discovered in plastic bags inside a car in Chilapa, Guerrero, without verifying claims that the severed heads were placed … Read more
China’s factory output reached its lowest level in two years in March, according to independent data released Friday, as the country confronts the pandemic’s biggest Covid-19 epidemic since its inception. With restrictions and lockdowns in place in important manufacturing and transportation hubs like Shenzhen and Shanghai, authorities are battling coronavirus epidemics. The Caixin Purchasing Managers’ … Read more
Saudi Arabia has unveiled plans for the country’s first all-year-round ski resort, a futuristic, opulent mega-project buried in the desert kingdom’s highlands that will be 33 times the size of New York City. TROJENA will be part of NEOM, a $500 billion city-state with its own village, spa resorts, and “interactive natural reserve.” The NEOM … Read more
BERLIN: Outdated equipment, woeful bureaucracy, demotivated soldiers: Germany has quite a task ahead to modernize its army, which it has vowed to do in the wake of Russia’s invasion of Ukraine. Three days after the attack began, Chancellor Olaf Scholz in a landmark speech pledged a special budget of 100 billion euros for the military, … Read more
KARACHI: The pharmaceutical sector has great potential to further grow and contribute significantly in Pakistan’s export if the industry is facilitated by incentives, officials said. United Business Group (UBG) Petron-In- Chief S M Muneer and President Zubair Tufail said that the pharmaceutical potential needs to be promoted in Pakistan so that this sector could hit … Read more
INDIAN WELLS: Novak Djokovic was entered into the draw for this week’s ATP/WTA Indian Wells tournament on Tuesday but it is unclear whether he will take part in the tournament, organisers said. A brief statement from tournament organisers said officials were in contact with Djokovic’s team to determine whether he would play in California or even be allowed … Read more
SYDNEY: Australian cricket superstar Shane Warne will be honored with a state funeral at the Melbourne Cricket Ground on the evening of March 30, the Victorian state government said Wednesday. Warne died at the age of 52 on the Thai holiday island of Koh Samui on Friday. His body is to be repatriated. An autopsy … Read more
WASHINGTON: Americans saw their incomes climb slightly in the first month of 2022, but the gain was overtaken by rising prices, which increased at their fastest rate in 40 years, according to the government data. Rising energy prices continue to be a key factor driving inflation and global oil prices have been moving steadily higher … Read more
The government will face a tough time in sustaining the poverty level on the back of higher fuel prices, the rupee depreciation and an increase in the electricity and gas tariffs on regular intervals. The latest poverty headcount based on the 2018/19 Household Economic Survey showed around 22 per cent of the estimated 227.9 million … Read more
KARACHI: The government is providing an amnesty, to be announced through a presidential order, for setting up industrial units, sources in the Federal Board of Revenue (FBR) told BOL News. In his address to the nation on February 28, 2022, Prime Minister Imran Khan announced a big relief package of reducing prices of petroleum products … Read more
The historic tour of Australia to Pakistan started with its first Test match at the Pindi Stadium, Rawalpindi. Aussies are touring the country after 24 years where they will play three Tests, three ODIs and the only T20I. Some of the government officials including the Federal Minister for Information Technology and Broadcasting Fawad Chaudhary also … Read more
LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday hailed Prime Minister Imran Khan’s incentives package to promote the industrial sector. In a statement, FPCCI Management Committee Chairman Irfan Iqbal Sheikh and Muhammad Nadeem Qureshi said that the county’s economic progress was directly linked with the development of the industrial sector. … Read more
Taiwan’s government has denounced one of its Olympians after the speed skater was seen in an online video wearing the suit of the Chinese national team, with one lawmaker calling her attire the “uniform of the enemy”. The 33-year-old was the flagbearer for the ‘Chinese Taipei’ team at the Beijing 2022 Winter Olympic Games opening … Read more
KARACHI: The government should reconsider the decision of imposing sales tax on companies involved in the research and development of hybrid seeds locally, an official said. United Business Group (UBG) leader, member of the Lahore Chamber of Commerce and Industry (LCCI) Executive Committee, Guard Group Senior Executive Momin Ali Malik added that the rising electricity … Read more
KARACHI: The energy sector’s circular debt has ballooned to Rs2.47 trillion threatening to slash the country’s gross domestic product (GDP) growth potential despite a number of policy stimulus provided by the government. With the latest increase in the rates of petroleum products and the expected hike in the electricity tariff, the crippling power sector debt … Read more
LAHORE: The rupee depreciation, high input costs and inflation are big challenges. The situation will not improve until or unless the government give due importance to other sectors, Small and Medium Enterprises (SMEs) and cottage industry and check inflation, said Tahir Manzoor Chaudhry, chief executive officer of Lever Group of Companies. The government is only … Read more
KARACHI: The industrialists on Wednesday rejected the significant hike in petroleum prices and urged the Prime Minister to revert the decision in order to avoid high inflation. The Korangi Association of Trade and Industry (Kati), in a statement blasted the government for the substantial increase in the petroleum products prices. Kati Acting President Maheen Salman … Read more
KARACHI: The Pakistan stocks witnessed a dull session on Wednesday and closed lower on weak economic outlook, surging local petroleum products prices and widening trade deficit. “Surging local petroleum prices impacting industrial earnings, reports of falling cement sales amid the government cut in the development budgets and a raise in industrial power tariff played a … Read more
BEIJING: China will help its coal-fired power plants run at full capacity, the government has announced, raising further alarm about the fate of Beijing’s climate pledges. Swathes of the world’s second-biggest economy were paralysed last year because of power shortages, partly caused by a drop in coal supply as global prices of the fossil fuel … Read more
THE HAGUE: The Netherlands will lift almost all anti-Covid restrictions by February 25 and return to normal life as cases and hospitalisations fall, the health minister said on Tuesday. Bars, restaurants and nightclubs will go back to pre-pandemic opening hours while social distancing and face masks will no longer be obligatory in most places. The … Read more
MANILA: The Philippines is now at “low risk” from the coronavirus pandemic as more people get vaccinated and hospital admissions drop, President Rodrigo Duterte’s spokesman said Tuesday. The country last week reopened to foreign tourists for the first time in two years, though some health restrictions remain as campaigning for the May 9 elections starts, … Read more
