ISLAMABAD, Sep 19 (ABC): The government is taking inclusive steps to create a business-conducive environment to attract Foreign Direct Investment (FDI) and promote entrepreneurship culture in the country. “Ministry of Information Technology is providing an enabling environment to all stakeholders of the startup ecosystem to promote startup culture and attract FDI”, said an official of the ministry of IT. During …

SEOUL, Sep 19 (ABC): The Organization for Economic Cooperation and Development (OECD) has raised this year’s inflation outlook for South Korea amid higher energy prices, South Korea’s finance ministry said Monday. The OECD revised up the country’s 2022 inflation outlook to 5.2 percent from its June estimate of 4.8 percent, the Ministry of Economy and Finance said citing the biennial …

ISLAMABAD, Sep 19 (ABC):The exports from the country in rupee term witnessed an increase of 40.53 per cent during the first two months of current fiscal year (2022-23) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. The exports during July-August (2022-23) were recorded at Rs. 1,043,046 million as against the exports of Rs. …

BANGKOK, Sep 19 (ABC):Thailand’s government expects to achieve  up to 2.38 trillion baht (about 64.3 billion U.S. dollars) in tourism revenue in 2023, a government spokesperson said Monday. As the tourism sector, a key driver of the Southeast Asian country’s economic growth, has continued to recover, the Thai government has set a target of bringing the revenue back to 80 …

ISLAMABAD, Sep 17 (ABC):The ongoing sovereign portfolio of Asian Development Bank (ADB) in Pakistan includes 48 loans and three grands worth of $8.42 billion.  According to the member fact sheet released by the ADB, in 2021, ADB’s loan and grant disbursements to Pakistan amounted to $1.31 billion, comprising $0.3 billion in program lending and $1.01 billion from project lending and …

ISLAMABAD, Sep 17 (ABC):The federal government has allocated Rs. 2300 million in the current Public Sector Development Programme (PSDP) to repair about 100 diesel-electric locomotives. The government has allocated funds amounting to Rs. 32, 648.036 million for the execution of 36 ongoing and new projects of the Railways Division, said an official of the ministry. About Rs. 26,648.036 million have …

Sep 16(ABC): India’s conglomerate Adani Group founder and chairman, Gautam Adani, is now the second richest person in the world, NDTV reported, citing Forbes, as he surpassed Amazon chief Jeff Bezos and Bernard Arnault of Louis Vuitton. Adani’s current worth according to the American business magazine’s real-time billionaires list is $154.7 billion, while Elon Musk retains the position of world’s richest person with …

SEOUL, Sep 16 (ABC):South Korea’s automotive export logged a double-digit growth last month due to solid demand for eco-friendly vehicles, government data showed Friday. The country’s car shipment soared 35.9 percent over the year to 4.12 billion U.S. dollars in August, according to the Ministry of Trade, Industry and Energy. The number of exported vehicles was 168,155 in August, up …

ISLAMABAD, Sep 16 (ABC):The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 92.60 points, a negative change of 0.22 percent, closing at 41,679.49 against 41,772.09 points on the last working day. A total of 219,351,317 shares were traded during the day compared to 259,979,526 shares the previous day, whereas the price of shares stood at …

ISLAMABAD, Sep 16 (ABC):The price of 24 karat per tola gold witnessed a decrease of Rs.850 on Friday and was sold at Rs.155,000 against its sale at Rs. 155,850 the previous day. The price of 10 gram 24 karat also decreased by Rs.728 and was sold at Rs.132,888 against Rs.133,616 whereas that of 10 gram 22 karat went up to …

ISLAMABAD, Sep 16 (ABC):The Oil and Gas Regulatory Authority (OGRA) on Friday issued its annual report for the fiscal year 2020-21, during which it resolved 8,272 complaints providing financial relief of Rs 1,18.31 million to consumers. Besides, the Authority granted 1,341 gas connections while addressing the consumer complaints, OGRA said in the report. “OGRA entertained consumers’ complaints against natural gas, …

ISLAMABAD, Sep 16 (ABC):The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on September 15 for the combined consumption group witnessed a decrease of 0.19 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 221.14 points against 221.55 points registered in the previous week, …

ISLAMABAD, Sep 16 (ABC):The imports of overall petroleum group witnessed an increase of 6.97 percent during the first two months of the current fiscal year (2022-23) as compared to the corresponding period of the last year. During the period under review, the total imports of the petroleum group during July-August (2022-23) stood at $3,302.159 million, as against the imports of …

VIENTIANE, Sep 16 (ABC):The Lao Academy of Social and Economic Science (LASES) has lowered its forecast of the Southeast Asian country’s economic growth to 3 percent for 2022, from 4 percent projected earlier. The downgraded projection of the country’s economic growth is due to slower expansion in sectors relating to consumption, export, and private and state investment, according to the …

YANGON, Sep 16 (ABC): Myanmar exported more than 723,043 tons of beans and pulses worth over 564 million U.S. dollars in over five months of the 2022-23 fiscal year, showed the Ministry of Commerce’s figures on Friday. From April 1 to Sept. 9 this year, Myanmar has shipped over 580,691 tons of beans and pulses via sea routes and transported …

KARACHI, Sep 16 (ABC):State Bank of Pakistan on Friday injected Rs 1,401.950 billion into money market as reverse repo purchase through its Open Market Operation. Rs 689.750 billion were pumped for three days at 15.15 rate of return accepted per annum and Rs 712.2 billion for 63 days at the same rate of return.

ANKARA, Sep 16 (ABC):Ankara is putting “sincere efforts” to end the crisis in Ukraine and let the grain to be exported to Africa, Turkish President Recep Tayyip Erdogan said on Friday. “We make sincere efforts to ensure that grain reaches those who need it most, especially our brothers and sisters in Africa,” Erdogan said at the second session of the …

ISLAMABAD, Sep 16 (ABC):Pakistan rupee on Friday depreciated by 95 paisa against the US dollar in the interbank trading and closed at Rs 236.83; against the previous day’s closing of Rs 235.88. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 240.2 and Rs 241.2 respectively. …

  LAHORE, Sep 15 (ABC):Punjab Chief Minister Chaudhry Parvez Elahi has fixed property transfer rate at one percent across the province.In a statement, he said that the revenue of the Punjab government will increase a lot, adding that this decision has been taken in the best public interest. There will be an increase in registries across the province as the …

ISLAMABAD, Sep 15 (ABC):The Federal Board of Revenue (FBR) on Thursday conducted 9th computerized balloting of Point of Sale (POS) Invoicing Prize Scheme in Multan as its flagship initiative. A total of Rs. 54 million were disbursed among the 1017 lucky winners during the ceremony, said a press release issued by FBR. Sardar Ali Khawaja, Member Public Relations (FBR) was …

ISLAMABAD, September 15 (ABC): Adhering to the deep friendship between the Chinese and Pakistani, since August 20, Yuan Longping High-tech Agriculture Co., Ltd. (LPHT)and Guard Agricultural Research and Services Private Company(GARS) have actively joined the local disaster relief activities in Pakistan. According to report, total of Rs 32.19 million reliefs were provided to suffered people in disaster areas including Rs …

ISLAMABAD, Sep 15 (ABC):Federal Minister for Commerce Syed Naveed Qamar on Thursday said that the opening of Pakistan-Iran ‘Pishin Border Market’ is expected in the coming month, which will increase the trend of free trade between the two countries. The Pishin border market had been completed and its inauguration was on the cards, while work on other three markets including …

ISLAMABAD, Sep 15 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs.150 on Thursday and was sold at Rs.155,850 against its sale at Rs.155,700  the previous day. The price of 10 gram 24 karat also increased by Rs.128 and was sold at Rs.133,616 against Rs.133,488 whereas that of 10 gram 22 karat went up to …

PESHAWAR, Sep 15 (ABC):After having lost his house and standing crops in flash floods, the 24-year progressive farmer from Nowshera district Malayar Khan is worried regarding preparations of his agricultural land for upcoming wheat sowing season and how to water the crop due to destruction of water channels and canals. Belonging to flood hit Mohib Banda directly located on River …

ISLAMABAD, Sep 15 (ABC):The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Thursday, losing 239.73 points, a negative change of 0.57 percent, closing at 41,772.09 against 42,011.82 points on the last working day. A total of 259,979,526 shares were traded during the day compared to 156,581,804 shares the previous day, whereas the price of shares stood at …

ISLAMABAD, Sep 15 (ABC) :Pakistan rupee on Thursday depreciated by Rs 2.39 against the US dollar in the interbank trading and closed at Rs 235.88; against the previous day’s closing of Rs 234.31. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 240 and Rs 241 …

ISLAMABAD, Sep 15 (ABC): The outcomes of Pakistan’s GSP+ status conferred by the European Union (EU) has started bearing positive outcomes amid growing exports to the EU by 82% whereas the trade incentive scheme would be revised soon with increase in demand on compliance of international conventions. Head of Rural Development and Economic Cooperation, European Union Delegation Dr Stephen Langrell …

ISLAMABAD, Sep 15 (ABC):The exports of textile goods increased by 4.18 percent during the first two months of the current fiscal year as compared with the corresponding month of last year. The textile goods exports were recorded at $3,056.387 million in July-August (FY2022-23) against the exports of $2,933.739 million in July-August (FY2021-22), showing growth of 4.18 percent, according to the …

ISLAMABAD, Sep 14 (ABC): The United Arab Emirates (UAE) wants enhanced business and investment relations with Pakistan in order to complement the economy of each other and achieve mutually beneficial results. UAE also want to have more investors of Pakistan to invest in its economic zones and would encourage its investors to explore Pakistan for business and investment opportunities. UAE …

ISLAMABAD, Sep 14 (ABC):The sale of cars during the first two months of current fiscal year 2022-23 (July-August) has dropped by 49.80 percent as compared to the same months of last year, a recent data released by Pakistan Automobile Manufacturing Association (PAMA) said.According to the data, as many as 19,358 cars were sold during the months under review as opposed …

ISLAMABAD, Sep 14 (ABC): The Asian Development Bank (ADB) provided $1.31 billion to Pakistan in terms of loan and grant during last year (2021), which was comprised $0.3 billion in program lending, $1.01 billion from project lending and $3 million from grants. The financing was aimed at to reduce poverty and improve the country’s prosperity and resilience by supporting infrastructure, …

ISLAMABAD, Sep 14 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) on Wednesday gained 10.48 points, a nominal positive change of 0.02 percent, closing at 42,011.82 against 42,001.34 points on the last working day. A total of 156,581,804 shares were traded during the day compared to 118,511,503  shares the previous day, whereas the price of shares stood at Rs.6.548 …

  ISLAMABAD, Sep 14 (ABC):The price of 24 karat per tola gold witnessed a decrease of Rs.800 on Wednesday and was sold at Rs.155,700 against its sale at Rs. 156,500 the previous day. The price of 10 gram 24 karat also decreased by Rs.686 and was sold at Rs.133,488 against Rs.134,174 whereas that of 10 gram 22 karat went down …

ISLAMABAD, Sep 14 (ABC):Pakistan rupee on Wednesday depreciated by Rs 2.39 against the US dollar in the interbank trading and closed at Rs 234.31; against the previous day’s closing of Rs 231.92.According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 237 and Rs 239 respectively. The …

ISLAMABAD, Sep 14 (ABC):Minister for Commerce, Syed Naveed Qamar on Wednesday said that the government was committed to provide level playing field and reduce cost of doing business for export-oriented sectors including textiles to boost exports and reduce current account deficit. He expressed these views while addressing a virtual session organized by South Punjab Investment Forum in collaboration with USAID, …

ISLAMABAD, Sep 13(ABC):  The price of 24 karat per tola gold witnessed an increase of Rs.500 on Tuesday and was sold at Rs.156,500 against its sale at Rs.156,000 the previous day. The price of 10 gram 24 karat also increased by Rs.429 and was sold at Rs.134,174 against Rs.133,745 whereas that of 10 gram 22 karat went up to Rs.122,992 …

ISLAMABAD, Sep 13(ABC): The 100-index of the Pakistan Stock Exchange (PSX) turned around to witness bullish trend on Tuesday, gaining 139.05 points, a positive change of 0.33 percent, closing at 42,001.34 against 41,862.29 points on the last working day. A total of 118,511,503 shares were traded during the day compared to 161,425,081 shares the previous day, whereas the price of …

LAHORE, Sep 13(ABC): Worried about the unavailability of cotton after floods destroyed crops across the country, the Pakistani textile millers have started approaching international suppliers to source silver fibre to maintain the export momentum. Pakistan has been hit by the worst flood in its history, affecting 33 million people and inflicting an estimated loss of nearly $10 billion in infrastructural damages. Floods …

KARACHI, Sep 13(ABC): The remittances sent home by overseas Pakistanis rose 8% month-on-month to $2.7 billion in August 2022, the latest data from the central bank showed Tuesday. The nominal increase in remittances came following the normalisation of the number of working days in month that led to a decline in July. According to the State Bank of Pakistan (SBP), the …

KARACHI, Sep 13(ABC): The Pakistani rupee continued to slide for the eighth straight session against the US dollar on Tuesday as cataclysmic floods and continuous political instability forced the local unit to depreciate. In the interbank market, the local unit fell by Rs2.1 to Rs231.92, down in value from yesterday’s close of Rs229.82 — when it lost Rs1.62. The rupee …