RAWALPINDI: Army Chief General Qamar Javed Bajwa has termed close cooperation between Pakistan and Iran key for regional peace and stability. He was talking to Iranian Chief of General Staff Major General (CGS) Mohammad Bagheri, who called on him in Rawalpindi on October 13, said Radio Pakistan. During the meeting, the two officials discussed a … Read more
RIYADH: The Organization of the Petroleum Exporting Countries trimmed its world oil demand growth forecast for 2021, while maintaining its 2022 view. Its monthly report; however, said surging natural gas prices could boost demand for oil products as end users switch. Oil prices were flat on Wednesday after erasing earlier losses as surging fuel costs … Read more
RIYADH: The US has overtaken China to account for the largest share of Bitcoin mining in the world, Arab News quoted the data released by Britain’s Cambridge Center for Alternative Finance. China’s share of the power of computers connected to the global Bitcoin network, known as the “hash rate,” had fallen to zero by July from 44 … Read more
RIYADH: Ratings firm Moody’s has affirmed the Baa2 ratings of state-owned Dubai Electricity and Water Authority and revised its outlook to stable from negative, Arab News reported. “The rating action reflects the credit linkages between DEWA and the government of Dubai. Supportive oil prices and improved prospects for a sustained economic recovery will strengthen the operating environment … Read more
BRUSSELS: The European Union has presented a ‘toolbox’ of measures to mitigate an energy crunch that threatens to send Europeans’ power bills soaring. The European Commission has been under pressure to act on the looming crisis, even though individual EU governments are more directly responsible for their energy sources and taxation. Consumers’ “concern is understandable, … Read more
RIYADH: Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan will head the Kingdom’s delegation at the annual meetings of the International Monetary Fund (IMF) and the World Bank, which kicked off in Washington on Tuesday, Saudi Press Agency announced. The delegation includes the governor of the Saudi Central Bank, Fahad Al-Mubarak, and a number of specialists … Read more
The International Energy Agency is urging governments to make stronger commitments to cut greenhouse gas emissions at an upcoming UN climate summit. The IEA is warning the world is not on track to meet environmental goals and that new investment in clean energy was needed to “jolt the energy system onto a new set of … Read more
RIYADH: Saudi Arabia wants its economic output to reach 6.4 trillion riyals ($1.71 trillion), Arab News quoted Investment Minister Khalid Al-Falih, as saying. The minister was speaking about the kingdom’s economic development strategy to year 2030, the channel said. He said the kingdom aims at boosting annual total investments to over SR2 trillion by 2030, … Read more
KARACHI: Representatives of sugar mills have signed an agreement for the implementation of a track and trace system introduced by the Federal Board of Revenue (FBR), a statement said. The tripartite agreements were signed at the Large Taxpayers Office (LTO), Karachi among the representatives of sugar mills, FBR and the consortium AJCL/Mittas/Authentix for the implementation … Read more
KARACHI: Additional Inspector General Imran Yaqub Minhas has stressed that the sale of secondhand mobile phones accessories has to be brought into a regulatory framework, which would help in dealing with the most serious issue of rising street crimes, as the accessories and spare parts of all the snatched phones were being disposed of by … Read more
KARACHI: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has won the prestigious Retail Banker International (RBI) Asia Trailblazer Award 2021 for being the “Best Retail Bank in Pakistan”, along with an honourable mention of “Highly Commended” for its house loan in the Best Loan Offering category, a statement said. Organised in collaboration with … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has again made it clear that there would be no further extension in the deadline for filing tax returns for the fiscal year 2021 beyond October 15. FBR spokesperson Asad Tahir Cheema, in a statement, said that only two days were left for filing the tax returns and … Read more
KARACHI: The Pakistan Stock Exchange (PSX) organised a roundtable meeting with Khyber-Pakhtunkhwa (KP) Minister for Finance and Health Taimur Khan Jhagra and business leaders of Karachi, a statement said. The meeting followed soon after a gong ceremony was held at the PSX Trading Hall on October 6, 2021, to mark the inauguration of the PSX regional … Read more
KONGSBERG, Norway: A man armed with a bow and arrows killed five people and wounded two others in southeastern Norway on Wednesday, police said, adding that they had arrested the suspect. The motive for the attack, which took place in several locations in the town centre of Kongsberg, was unknown but police said terrorism could … Read more
The Pakistan Telecommunication Authority announced on Wednesday that the telecom services in the country were operating on a “normal routine” after a “fault” in a submarine cable was fixed. “Work was completed last night. All telecom services are operational as per normal routine,” tweeted PTA while giving an update on the submarine cable fault. Submarine … Read more
LONDON: Britain’s economy rebounded in August after the lifting of coronavirus restrictions, but unexpectedly shrank the previous month, official data showed on Wednesday. The gross domestic product grew 0.4 per cent in August, the first full month since the lifting of the Covid curbs, the Office for National Statistics (ONS) said in a statement. “Accommodation … Read more
KARACHI: Consul General for the Republic of Indonesia in Karachi Dr June Kuncoro Hadiningrat hosted a meeting with six universities in Karachi to promote education cooperation between the two countries. The meeting was facilitated by Prof Iqbal Chaudhary from the International Center for Chemical and Biological Sciences (ICCBS), University of Karachi, and was attended by University … Read more
ISLAMABAD: The Anti-Narcotics Force (ANF) has foiled an attempt to smuggle heroin from the Islamabad International Airport. According to the ANF officials, over four kilogrammes of heroin, concealed at the bottom of a bag, was recovered from the luggage of a passenger when it was searched. The passenger was en route to Bahrain through a … Read more
KABUL: Afghanistan’s new Taliban government has warned the US and European envoys that continued attempts to pressure them through sanctions will undermine security and could trigger a wave of economic refugees. Acting foreign minister Amir Khan Muttaqi told Western diplomats at talks in Doha that “weakening the Afghan government is not in the interest of … Read more
LAHORE: Extension in the GSP Plus status was a challenge for Pakistan but it would succeed in its mission, a government official said. Talking to overseas Pakistanis and media representatives on his arrival in Brussels during his visit to Europe, Punjab Governor Chaudhry Mohammad Sarwar said: “All minorities are safe in Pakistan and human rights are also being ensured across the country,” … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has opposed giving tax official powers of freezing bank accounts for the recovery of taxes. In a statement, LCCI President Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq said that now the tax officials could freeze bank accounts without … Read more
RIYADH: Receiving an average of 1,100,000 Google searches/month, Bitcoin is the most Googled cryptocurrency in the UK, Arab News quoted a new study. The research conducted by Bacancy, a software firm, revealed that Dogecoin is the second most searched digital coin in the UK with a monthly average of 596,000 Google searches over the past year. In third … Read more
ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistan’s real Gross Domestic Product (GDP) to grow 4 per cent in the current fiscal year (2021/22). In its recent report “World Economic Outlook October 2021” released on Tuesday, the IMF also endorsed the Pakistan’s provisional figures of GDP growth rate of 3.9 per cent during the previous … Read more
KARACHI: Realising the less contribution of differently-abled persons within society, President Dr Arif Alvi has said that the skills of such people should be developed to bring them in the mainstream, as they could play a vital role in the development of the country. Addressing the foundation stone laying ceremony of the upgraded complex of Al-Shifa Trust, Special School and Rehabilitation Centre, he emphasised that there was the need … Read more
BRUSSELS: The EU on Tuesday pledged a one-billion-euro ($1.2-billion) aid package for Afghanistan, “to avert a major humanitarian and socio-economic collapse,” the bloc’s chief Ursula von der Leyen said. The money adds 250 million euros to a 300-million-euro sum the EU previously announced for urgent humanitarian needs, with the remainder going to Afghanistan’s neighbouring countries … Read more
ISLAMABAD: The first truck of the National Logistic Cell (NLC), with Pakistani goods reached Turkey via Iran, a senior government official said on Tuesday. In a tweet, Adviser to the Prime Minister on Commerce Razak Dawood said: “I am very pleased to announce that under the TIR treaty, the first NLC truck, transporting commodities from … Read more
More than half of Saudi Arabian consumers would have “no problem” moving banks as financial services competition intensifies amid the rise of digital lenders, Arab News quoted a new survey. Fifty-two per cent of the Saudis would be comfortable making the change, and 63 per cent are actively looking for new lending offers, says US consulting firm … Read more
WASHINGTON: The White House stands by its calls for oil-producing countries to “do more” to support the global economic recovery, Arab News quoted an official, as saying, as the crude prices hit multi-year peaks. The administration official said they are closely monitoring the cost of oil and gasoline and are “using every tool at our … Read more
