ISLAMABAD, Nov 10 (ABC): Pakistan-Iran Joint Border Commission has taken important decisions on border security, human smuggling and prevention of drugs, promotion of mutual cooperation for the establishment of peace and order on both sides of the border, provision of facilities to businessmen for an increase in trade activities, exchange of sports and culture and educational delegations and other related …

ISLAMABAD, Nov 10 (ABC): The Abu Dhabi Holding Company and International Holding Company (IHC) have expressed their special interest to invest in energy, agriculture, healthcare and other sectors of Pakistan’s economy. According to a press statement issued by finance ministry here on Thursday, Federal Minister for Finance and Revenue, Senator Muhammad Ishaq Dar held meeting with Chief Executive Officer (CEO) …

Nov 9(ABC): Tesla top boss Elon Musk has sold $3.95 billion worth of shares in the electric-vehicle maker, regulatory filings showed, days after he closed the $44-billion deal for Twitter. The latest sale brings the total Tesla stocks sold by Musk to about $36 billion since November last year, leaving him with a roughly 14% stake in the world’s most valuable …

PESHAWAR, Nov 9 (ABC): President Dr Arif Alvi on Wednesday stressed the need to undertake financially sustainable and viable development projects, besides reducing pilferage in government departments’ expenditures to enhance efficiency and reduce the financial burden on governments. He said that better planning and implementation of development projects by the trained and qualified development professionals could help improve overall service …

Nov 9(ABC): The central bank on Wednesday hinted at easing import restrictions imposed by the government to keep foreign exchange reserves under tight control. This was suggested by State Bank Governor Jameel Ahmed during a banking conference on Wednesday. While responding to media questions about the government’s stringent import policy of the past few months, he said that commercial banks …

ISLAMABAD, Nov 9(ABC): Pakistan is likely to receive a $450 million loan from the World Bank as the international creditor confirmed that the country had accomplished all conditions attached to the Resilient Institution for Sustainable Economy (RISE-II) programme. The board of directors of the World Bank is expected to approve the $450 million loan in November, reported Wednesday. “Discussions are also …

ISLAMABAD, Nov 09 (ABC): Minister for Finance and Revenue Senator Muhammed Ishaq Dar on Wednesday said that State Bank of Pakistan and National Bank of Pakistan would withdraw their petitions from the Supreme Court of Pakistan against the judgment of Federal Shariat Court in which the Court had ordered implementation of interest-free banking system in the country. The minister said …

BEIJING, Nov 9 (ABC): Pakistani pine nuts exports to China from January-September this year crossed the figure of $47.691 million, according to the official data from the General Administration of Customs of the People’s Republic of China (GACC). Pine nuts from Pakistan have taken up more than 42% of China’s imports, ranking second among major pine nut exporters to China. …

KARACHI, Nov 09 (ABC): The State Bank of Pakistan, on Wednesday, launched the Environmental and Social Risk Management (ESRM) Implementation Manual for banks and development finance institutions (DFIs) to promote green banking in the country. The manual was launched by Governor State Bank Jameel Ahmed in the inaugural session of Sustainable Banking Conference, organised here by SBP in collaboration with …

SYDNEY, Nov 9(ABC): Australia’s biggest health insurer Medibank, recently hit by a massive cyber hack, said on Wednesday the hacker could release more stolen data after the company refused to make ransom payments. Some names, addresses, phone numbers, email addresses, passport numbers of international students and health claims data stolen from Medibank’s systems have already been released on a dark …

KARACHI, Nov 08 (ABC): State Bank of Pakistan (SBP) has reviewed the existing foreign currency cash carrying limits for travel purposes and decided to further rationalize the same. As per the revised limits individuals with age 18 years and above (adults) can now take out of Pakistan foreign currency  equivalent to $ 5,000 per visit, while those below the age …

ISLAMABAD, Nov 06 (ABC): Dubai International Airport (DXB) has retained its spot as the world’s busiest for international passengers in October, Gulf News reported on Sunday. DXB has also retained its spot as the second busiest ‘global airport’ in the world, measuring both domestic and international airline capacity, according to the data revealed aviation consultancy OAG in early November 2022. …

ISLAMABAD, Nov 6(ABC): The federal cabinet on Sunday approved the increase in the margin of oil marketing companies (OMCs) by 63 per cent. Sources privy to the matter said that the increase in the OMCs’ margin on petrol and diesel by Rs2.32 to reach Rs6 was approved through circulation by the federal cabinet. As per sources, the rise will be …

ISLAMABAD, Nov 6 (ABC): Pakistan Railways has restored more passenger trains after repair and maintenance of railway tracks which were badly affected by heavy rains and subsequent floods. “The decision was taken on the direction of Minister for Railways Khawaja Saad Rafique to facilitate the passengers who were suffering a lot due to non-availability of trains,” an official told on …

ISLAMABAD, Nov 06 (ABC): Managing Director (MD) Pakistan Tourism Development Corporation (PTDC) Aftab-ur-Rehman Rana has said that Pakistan will set up a Pakistan Pavilion in World Travel Market (WTM) London in collaboration with provincial tourism departments and private sector companies. “PTDC after almost 14 years is going to set up an impressive Pakistan Pavilion in WTM scheduled to be held …

BEIJING, Nov 6 (ABC): Pakistani products like jewellery, salt lamps, blankets and marble have attracted a large number of customers at the 5th China International Import Expo (CIIE) being held in Shanghai. “Of the consumers who buy our products, the percentage of re-purchase within a year is as high as 60%, and another 30% of customers make a third or …

ISLAMABAD, Nov 6 (ABC): The Federation of Pakistan Chamber of Commerce and Industry’s United Business Group (UBG) Chairman Shahzad Ali Malik Sunday urged the government to ensure immediate timely disbursement of historic Rs 1.8 trillion Kissan package unveiled by Prime Minister Shehbaz Sharif to boost agriculture production. Under the package, the government would provide free seeds to flood-hit farmers and …

KARACHI, Nov 6(ABC): The Federal Board of Revenue (FBR) rejected reports about an upcoming mini-budget and ruled out any new tax amnesty schemes due to International Monetary Fund (IMF) restrictions, The News reported Saturday. FBR Chairman Asim Ahmed made the announcement while speaking to the business community in successive meetings held at the Karachi Chamber of Commerce and Industry (KCCI) and …

ISLAMABAD, Nov 4(ABC): Pakistan and Asian Development Bank (ADB) here on Friday inked a financing agreement worth US$100 million for ‘Khyber Pakhtunkhwa Health Systems Strengthening Program. The financing agreement was signed by Secretary, Ministry of Economic Affairs, Dr. Kazim Niaz and Country Director, Pakistan Resident Mission, Yong Ye A while the program agreement was also signed between the Government of …

BEIJING, Nov 4 (ABC): China International Import Expo (CIIE) plays an important role in boosting Pakistan’s export to China and enhancing Pakistan’s economy, said Pakistan’s ambassador to China, Moin ul Haque. “Due to pandemic prevention and control measures, physical participation is not possible but we will set up an online national pavilion to exhibit our products”, Moin ul Haque told …

ISLAMABAD, Nov 4 (ABC): The export of tobacco from the country has witnessed an increase of 74.66 percent during the first three months of the financial year (2022-23) as compared to the corresponding period of last year. Pakistan exported tobacco worth US $13.798 million during July-September (2022-23) as compared to the export of US $7.900 million during July-September (2021-22), showing …

ISLAMABAD, Nov 4 (ABC): Pakistan Railways has outsourced the commercial management of 14 trains to private parties under public private partnership through fair and transparent bidding process. The basic purpose to outsource the trains were to provide better facilities to the passengers and generate more revenue for the department, an official in the Ministry of Railways told. Pakistan Railways privatized …

ISLAMABAD, Nov 4 (ABC): The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on November 3 for the combined consumption group witnessed an increase of 0.53 percent as compared to the previous week. The SPI for the week under review in the above-mentioned group was recorded at 214.88 points against 213.74  points registered in the previous week, …

ISLAMABAD, Nov 4 (ABC): Pakistani Rupee on Friday appreciated by 2 paisa against the US dollar in the interbank trading to close at Rs 221.92 against the previous day’s closing of Rs 221.94. According to the Forex Association of Pakistan (FAP), the buying and selling rates of US dollar in the open market were recorded at Rs 225.4 and Rs …

ISLAMABAD, Nov 04 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs 500 on Friday and was sold at Rs 151, 500 against its sale at Rs 151,000, the previous day. The price of 10 gram 24 karat also increased by Rs 429 and was sold at Rs 129, 887 against Rs 129, 458; whereas …

ISLAMABAD, Nov 04 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 234.40 points, a negative change of 0.56 percent, closing at 41,856.31 against 42,090.71points on the last working day. A total of 298,094,545 shares were traded during the day as compared to 325,716,698 shares the previous day, whereas the price of shares stood …

Nov 4(ABC): Sindh govt approves Rs46 billion to rebuild roads in flood-hit provinceThe Sindh government on Friday approved a Rs46 billion to rebuild the streets and roads in flood-hit areas of the province. This was decided during a high-level provincial meeting on Friday chaired by Sindh Chief Minister Syed Murad Ali Shah at the Chief Minister House. Under the package, …

ISLAMABAD, Nov 4(ABC): The government has given the approval of imposing the petroleum development levy (PDL) of Rs50 on high-octane petrol on Friday. Sources privy to the matter said that the PDL levy on high-octane was Rs30, but as per the International Monetary Fund’s (IMF) conditions, the approval of increasing the PDL on high-octane petrol has been given. The sources …

ISLAMABAD, Nov 2 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Wednesday, gaining 135.90 points, a positive change of 0.33 percent, closing at 41,944.59 against 41,808.69 points on the last working day. A total of 230,561,335 shares were traded during the day as compared to 192,142,149 shares the previous day, whereas the price of …

ISLAMABAD, Nov 2 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs 450 on Wednesday and was sold at Rs 151,550 against its sale at Rs 151,100 the previous day. The price of 10 gram 24 karat also increased by Rs 386 and was sold at Rs 129,930 against Rs 129,544; whereas that of 10 …

ISLAMABAD, Nov 2 (ABC): Pakistan earned US $179.940 million by providing different transport services in various countries during the first two months of current fiscal year (2022-23) as compared to the corresponding period of last year. This shows growth of 104.55 percent as compared to $87.970 million earned through provision of services during the corresponding period of fiscal year (2021-22), …

ISLAMABAD, Nov 2 (ABC): Pakistani Rupee on Wednesday depreciated by 79 paisa against the US dollar in the interbank trading to close at Rs 221.43 against the previous day’s closing of Rs 220.64. According to the Forex Association of Pakistan (FAP), the buying and selling rates of US dollar in the open market were recorded at Rs 225 and Rs …

ISLAMABAD, Nov 2 (ABC): President Dr Arif Alvi on Wednesday called upon the oversees Pakistanis to contribute more to the progress and prosperity of the country by sharing their knowledge, experience, intellect and expertise in the relevant fields which was now possible through online platforms without requiring any physically presence. The president, addressing a ceremony held to recognize the invaluable …

ISLAMABAD, Nov 2 (ABC): Pakistan Railways has retrieved as many as 955 acres of its land worth Rs19, 603 million during various anti-encroachment operations across the country in the last five years. “Around 476 acres retrieved in Punjab, 133 acres in Khyber Pakhtunkhwa, 327 acres in Sindh and only 19 acres in Balochistan acres land had been retrieved by the …

KARACHI, Nov 02 (ABC): The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of Rs7500, 15,000, Rs 25,000 and Rs 40,000 encashed by June 30, 2023. Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds. However, considering that some of the prize bond holders could not …

KARACHI, Nov 1(ABC): Pakistani currency recorded gains on the second working day of the week, as it made fresh recovery against the US dollar in the inter-bank market on Tuesday. According to details, the local currency appreciated by 24 paisa against the greenback which closed at Rs220.65. The rupee had closed at Rs220.89 on Monday, according to Pakistan’s central bank …

ISLAMABAD, Nov 1(ABC): The price of 24 karat per tola gold witnessed an increase of Rs 1,100 on Tuesday and was sold at Rs 151,100 against its sale at Rs 150,000 the previous day. The price of 10 gram 24 karat also increased by Rs 944 and was sold at Rs 129,544 against Rs 128,600; whereas that of 10 gram …

MUMBAI, Nov 1(ABC): India said it will allow cargoes of white and brown rice backed by letters of credit issued before September 9 to be shipped overseas, a measure that provides some relief to exporters grappling with fresh government curbs. The world’s biggest exporter of rice on September 8 banned exports of broken rice and imposed a 20% duty on …

ISLAMABAD, Nov 1(ABC): Accelerating faster than anticipated, Consumer Price Index (CPI)-based inflation for October 2022 surged to 26.6% year-on-year,  latest data showed, chiefly fueled by high-priced food and a hawkish monetary outlook. According to the Pakistan Bureau of Statistics (PBS), consumer prices rose 4.7% compared to a fall of 1.2% in September 2022 month-on-month. The inflation is not far from a 47-year …

ISLAMABAD, Nov 1(ABC): The Oil & Gas Regulatory Authority (OGRA) has jacked up the prices of liquefied petroleum gas (LPG) for November by Rs2.96/kg to Rs204.16/kg, an official notification showed on Tuesday. This increase has made the domestic LPG cylinder (11.8kg) expensive by Rs34.91, while the commercial one (45.4kg) will see a jump of Rs134 in price. Last month, the …