Stocks bounce as China eases quarantine measures By: Agencies on June 29, 2022Stock markets climbed Tuesday and oil prices rallied further as China slashed the quarantine time for visitors, fuelling hopes of recovery for the world’s second largest economy. The news came as Beijing and Shanghai appeared to have contained a Covid outbreak that had forced officials to impose lockdowns that compounded global supply chain snarls, further […]
US stocks fall as markets fret over interest rates By: Agencies on June 29, 2022Wall Street stocks sagged Monday, fading after last week’s positive run as markets weigh worries over the slowing economy and higher interest rates. Economists are increasingly pessimistic about the potential for US policy makers to engineer a “soft landing” as central banks tighten monetary policy, reversing a after a long period of rock-bottom borrowing rates […]
Bankrupt Sri Lanka opens oil market to foreign firms By: AFP on June 29, 2022Cash-strapped Sri Lanka announced Tuesday it was opening its oil market to foreign competition, a day after chronic fuel shortages forced a nationwide halt to petrol and diesel sales. The South Asian Island country is suffering an unprecedented economic crisis because it cannot afford to import essentials, including enough oil and gas to meet energy […]
UAE close to OPEC+ oil output ceiling: official By: Monitoring Desk on June 29, 2022The United Arab Emirates is close to its oil output ceiling under OPEC+ agreements, an official said, ahead of a regional visit by US President Joe Biden, who is expected to lobby for increased production. The Gulf state stressed it was committed to the OPEC+ figure of 3.168m barrels of oil per day (bpd). Biden […]
Gold Rate In Pakistan Today, 29th June 2022 By: Web Desk on June 29, 2022Gold Rate in Pakistan today on 29 June 2022 is being sold for Rs. 116170 per 10 grams, and the price of Gold is Rs. 135500 per tola in Pakistan today. Gold Rate In Pakistan Today Karachi is the main hub of the gold market, in Pakistan, Karachi is leading for the gold price, every […]
Pakistan has received MEFP from IMF for seventh, eighth reviews By: Web Desk on June 28, 2022ISLAMABAD: Pakistan on Tuesday received the Memorandum of Economic and Financial Policies (MEFP) from the International Monetary Fund (IMF) for the seventh and eighth reviews. This was confirmed by Finance Minister Miftah Ismail on his official Twitter handle. “Early this morning, the Government of Pakistan received a MEFP from the IMF for combined 7th and […]
Pakistan’s fuel oil imports hit 4 year high as it struggles to buy LNG By: Agencies on June 28, 2022Pakistan’s monthly fuel oil imports are set to hit a four-year high in June, Refinitiv data showed, as the country struggles to buy liquefied natural gas (LNG) for power generation amid a heatwave that is driving demand. The resurgence in residue fuel demand at power plants underscores the energy crisis faced by the South Asian […]
Sino techs to increase Pakistan’s cherry presence in China By: Agencies on June 28, 2022It’s cherry season in China now and there is nothing better than champing on some sweet tasting cherries for summer. On the online shopping platforms, cherries imported from overseas have been well received by Chinese consumers, of which mostly are from Chile. The price of Chile cherries (32+mm) on China’s online shopping websites is equivalent […]
Banks to operate extra hours for govt receipts By: APP on June 28, 2022Facilitating the collection of Government receipts, the field offices of State Banks of Pakistan (SBP) Banking Services Corporation and authorized branches of National Bank of Pakistan would observe extended banking hours till 08:00 p.m. and 12:00 a.m. on 29 and 30 June, respectively. Accordingly, National Institutional Facilitation Technologies (Pvt) Limited has been advised to arrange […]
Tea imports increase by 8.17pc in 11 months By: Agencies on June 28, 2022The tea imports witnessed an increase of 8.17pc during the first eleven months of the current fiscal year as compared to the corresponding period of last year. The tea imports during July-May (2021-22) were recorded at $580.911m against the imports of $537.010m during July-May (2020-21), according to data of Pakistan Bureau of Statistics (PBS). In […]