LISBON – Portugal registered 8,463 new COVID-19 cases and 35 more deaths in the last 24 hours, taking the national counts to 3,093,723 and 20,565 respectively, the country’s Directorate General of Health said Monday. The daily epidemiological bulletin showed that 2,364 people are currently hospitalized, of which 148 are in intensive care units. Read more: … Read more
LJUBLJANA: Slovenia’s conservative Prime Minister Janez Jansa said Wednesday he had tested positive for Covid-19, just as the EU country of two million sees a decline in new infections. “For two years we have been successfully avoiding the coronavirus. Yesterday, during a self-test both of my children were positive, I was negative. Today, unfortunately, mine … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged the Federal Minister for Industries and Production Khusro Bakhtiar to take the SME sector on board for consultation in the industrial policy formation, a statement said. Unisame President Zulfikar Thaver said that the Small and Medium Enterprises (SMEs) are the back forte of the … Read more
ISLAMABAD: With the overall debt liabilities of $5.5 trillion, including the external debt of over $127 billion, Pakistan’s economy remains stuck in a vicious cycle. The government is being forced to borrow from every possible quarter just to meet the debt repayment liabilities and finance the budgetary gap. Experts believe that the government should revisit … Read more
The Adviser to the Prime Minister on Parliamentary Affairs Dr Babar Awan on Monday said the government welcomes suggestions on its law reforms package approved by the cabinet recently to dispense speedy justice to the people, Radio Pakistan reported. Talking to the media in Islamabad, he clarified that the law reforms package will not be … Read more
WASHINGTON: After contracting in 2020, US economic growth saw its biggest increase since 1984 with a rebound to 5.7 per cent in 2021, the second year of the Covid-19 pandemic, the government reported. But the hit from the Omicron variant of the virus held down the recovery in the final quarter of the year, when … Read more
Minister of State for Information and Broadcasting Farrukh Habib on Wednesday termed the growth rate of 5.37 per cent despite huge global challenges as an accomplishment of the incumbent government. In a tweet, the state minister wrote that a sustainable growth rate of 5.37 per cent despite Covid-19, global high inflation, and other economic challenges … Read more
BEIJING: Shares in debt-laden Chinese property giant Evergrande rallied on Monday after a state firm official was appointed to its board, paving the way for a government rescue plan. Evergrande, which has been teetering on the brink for months owing to its struggles in servicing a debt pile of more than $300 billion, ended up … Read more
KARACHI: The government should aim to create self-sufficiency in food and chemicals to reduce dependency on drastically increasing imports, an official said on Monday. Union of Small and Medium Enterprises (Unisame) president Zulfikar Thaver said, “Self-sufficiency is the best answer in the present situation for a burdened and indebted economy. The heavy imports are consuming … Read more
KARACHI: The government, amid a heated session of the National Assembly, managed to pass the Supplementary Finance Bill 2021 and the SBP Amendment Bill 2021 in a super long session. The SBP Amendment Bill, being a legislative bill, would be presented in the Senate after which it will be referred to the Standing Committee on … Read more
KARACHI: Moody’s has assigned a B3 rating to the proposed US dollar-denominated trust certificates (Sukuk) issuance by the government of Pakistan, a statement said. The Sukuk will be issued through the Pakistan Global Sukuk Programme Company Limited, a special purpose vehicle, which is wholly-owned by the government and whose debt and trust certificate issuances are, … Read more
Bringing an iPhone 13 Pro Max 1TB from abroad or asking your relatives to bring it for you has become more expensive after the government increased the taxes on luxury phones once again. The iPhone 13 Pro Max is currently available in the US for $1,730.92 which is equivalent to Rs305,291.02. The government announced that … Read more
Former Pakistan all-rounder Mohammad Hafeez has requested that a bill against ‘fixing’ be passed as soon as possible. The 41-year-old expressed surprise at the bill’s lengthy delay and encouraged appropriate authorities to pass it as soon as possible. During the term of former PCB Chairman Ehsan Mani, the board sought to establish legislation requiring people … Read more
FRANKFURT: Yields for 10-year German bonds passed into positive territory on Wednesday for the first time since May 2019, as surging inflation in the eurozone prompted fears of monetary tightening. At 0715 GMT, Bund yields passed zero briefly to touch 0.001 per cent for the first time since the European Central bank launched a stimulus … Read more
Australia’s upcoming summer schedule of limited-overs series will only feature Sri Lanka after New Zealand postponed tour to Australia amid tight border controls and quarantine requirements in NZ, to control the virus outbreak, as the Kiwis return is uncertain. All the travellers visiting New Zealand had to go through a mandatory 10-day quarantine period, and … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to ensure adequate representation of the private sector in all important bodies, a statement said on Monday. “Only public-private partnership can make a breakthrough on the economic front. Therefore, the government should take the business community onboard on all economic matters and … Read more
WASHINGTON: In 2016, the discovery of two large, previously unreported loans sparked an economic crisis in Mozambique. Donor support to the country froze. The government was forced to make deep cuts in public spending. More recently, when Chad and Zambia asked to restructure their debt under the G-20’s Common Framework for Debt Treatments, they ran … Read more
Australia’s government cancelled the world number one Novak Djokovic’s visa for a second time on Friday as it sought to deport the tennis superstar for arriving in the country without a Covid-19 vaccine. According to Australia’s Immigration Minister Alex Hawke, he acted on “health and good order grounds on the basis that it was in … Read more
Lahore: Though the government has done a lot to improve the overall business environment, there is a need for more measures to restore investors’ confidence, said Ali Zaidi, chief executive officer of the New Unique Pharma. “There is a need to remove the bureaucratic hurdles, providing one-window facility and proper guidance to the new entrants. … Read more
MELBOURNE: Australia was poised Thursday to decide if it will deport Novak Djokovic following a sensational legal battle over the tennis superstar’s arrival in the country without a Covid-19 vaccine. The 34-year-old world number one’s hopes of a record 21st Grand Slam were in peril after he admitted breaking isolation rules in Serbia and to an incorrect … Read more
MELBOURNE: Novak Djokovic on Wednesday admitted “errors” in his travel papers and for not isolating after a claimed coronavirus infection, as he battled to stay in Australia and fight for a record 21st Grand Slam. The world number one said his team had offered fresh information to the Australian government, which is pondering whether to cancel his … Read more
The Election Commission (ECP) scrutiny committee’s report has suddenly put ruling Pakistan Tehreek-e-Insaf’s (PTI) government in a tight spot. The report, to the PTI’s dismay, has highlighted the transfer of money by foreign companies and nationals to the PTI’s bank accounts. The ECP made the report public on January 4 after years long hearing. The … Read more
The recent announcement of a mini-budget by the government has ensued a heated debate in the Parliament and across the country. By when will you present it in the Senate and how do you intend to tackle the Opposition which is determined not to get it passed? Dr Babar Awan (DBA): Dr Babar Awan … Read more
MEXICO CITY: Mexico on Thursday requested a dispute settlement panel under a revamped North American trade deal to resolve a difference of interpretation with the United States in the auto sector, the government said. The Latin American nation aims to establish that Washington’s interpretation of content requirements known as rules of origin are incorrect, the economy … Read more
KARACHI: The smuggled edible oil and ghee from Iran is not only costing the government billions of rupees in taxes but also shutting down local industries due to the low prices and the black market, an official said. Pakistan Vanaspati Manufacturers Association (PVMA) former vice chairman and Korangi Association of Trade and Industry (Kati) former … Read more
TOKYO, Jan. 5 (Xinhua) — Japan confirmed more than 2,000 new COVID-19 cases nationwide on Wednesday, almost doubling the number the previous day and for the first time surpassing 2,000 in more than three months since Sept. 26, 2021. The Tokyo metropolitan government reported 390 new confirmed cases Wednesday, up from 151 the previous day … Read more
KARACHI: The government will raise Rs4.7 trillion for budget financing through the sale of treasury bills during the first three months of 2022. According to the auction targets for the next three months (January-March 2022) issued by the State Bank of Pakistan (SBP) on Wednesday, the government would auction the Market Treasury Bills (MTBs) worth … Read more
KARACHI: The rate of profit on premium prize bonds having denominations of Rs25,000 and Rs40,000 has increased to 1.86 per cent from the existing 1.79 per cent, according to the Finance Division on Wednesday. The State Bank of Pakistan (SBP) has also issued a circular to inform the change of rate to all the presidents … Read more
