In a quick counteroffensive, President Volodymyr Zelensky claims his forces have retaken almost 2,000 square kilometres (772 square miles) in eastern Ukraine. As part of Ukraine’s quick advance, troops entered the important cities of Izyum and Kupiansk. However, violence has persisted outside of those towns, according to UK defence officials. In a quick counteroffensive, President … Read more
Singapore’s economy grew 4.8% in April-July. according to advance estimates. This is faster than the 4.0% revised growth figure seen in the first quarter. The Monetary Authority of Singapore surprised markets on Thursday with an out-of-cycle policy tightening. Singapore Q2 GDP developed surprisingly delayed in the subsequent quarter, as fundamental information displayed on Thursday. Singapore’s … Read more
Euro slides to a 20-year low. U.S. dollar index hits highest. Worries over the shutdown of Russia’s Nord Stream 1 pipeline. Fed expected to raise rates faster. Australian dollar falls to two-year lows on global growth fears. The euro slides to a 20-year low and drew nearer to equality against the dollar on Monday on … Read more
New home sales jumped 10.7% to a seasonally adjusted annual rate of 696,000 units last month. April’s sales pace was revised higher to 629,00 units from the previously reported 591,900 units. Sales surged in the West and densely populated South but declined in the Midwest and Northeast. Confidence among U.S. consumers fell to a record … Read more
The overseas Pakistani workers’ remittances grew by 6.3 percent in 11 months (Jul-May) of current fiscal year to $28.4 billion against inflows of $26.7 billion in same period of previous year. Remittances’ inflows during May 2022 were mainly sourced from Saudi Arabia ($541.9 million), United Arab Emirates ($435m), United Kingdom ($354m) and the United States … Read more
The pound is gaining ground versus the euro and the dollar. The pound increased by 0.6 percent to 1.26 US dollars and 0.4 percent to 1.17 euros.. If the PM loses, the UK’s economy ‘may get a lift and reverse some of the recent negative.’ The pound is gaining ground versus the euro and the … Read more
ISLAMABAD: The exports of services from Pakistan witnessed an increase of 22.94 per cent during the first five months of financial year 2021/22 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-November 2021/22 were recorded at $2720.94 million against the exports of $2213.16 … Read more
KARACHI: The exorbitant increase in freight rates and no monitoring of shipping companies are a matter of concern for the Small and Medium Enterprises (SMEs) exporters, an official said. Union of Small and Medium Enterprises (Unisame), president Zulfikar Thaver has voiced concerns over the SME exporters to the exorbitant increase in freight rates and no … Read more
KARACHI: The domestic rebar prices have increased Rs2,000/tonne on Wednesday night and are currently trading at Rs195,500/tonne to Rs197,500/tonne, taking the cumulative price increase during the ongoing quarter to around Rs18,000/tonne. “The ongoing price increase is the result of uptick in [the] international scrap prices, rupee devaluation and high energy costs,” Ahmed Rauf at Sherman … Read more
ISLAMABAD: The Sensitive Price Indicator (SPI)-based inflation for the week ended December 2, 2021 for the combined consumption group, witnessed a decrease of 0.48 per cent, compared with the previous week, the Pakistan Bureau of Statistics (PBS) reported. The SPI for the week under review in the abovementioned group was recorded at 167.36 points against … 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
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
The production of petroleum products in the country has increased on a monthly and annual basis during the current financial year. According to the Pakistan Bureau of Statistics, in the period from July to November 2020, the production of petroleum products in the country has increased by 1.50% as compared to the same period of … Read more
The Increasing demand for PCs and smartphones thriving across the globe, the tech supply chain has been strained this year. Tech giants are struggling to keep up with demand as their supply chains are working around the clock to deliver. According to the reports, companies like Intel, MediaTek, and Realtek have all been asking UMC … Read more
