Rupee recovers 41 paisa against dollar on November 17, 2021The exchange rate of the Pakistan rupee strengthened by 41 paisa against the US dollar in the interbank trading on Tuesday and closed at Rs174.88 as compared to the previous day’s closing of Rs175.29. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded […]
ECB chief signals keeping rates low in 2022 on November 17, 2021The European Central Bank (ECB) signaled on Monday that it would not raise interest rates from the current low levels next year in spite of the persistently surging inflation. Speaking at the regular hearing of the Committee on Economic and Monetary Affairs of the European Parliament via video link, ECB President Christine Lagarde said that […]
China’s garment industry expands in Jan-Sept period on November 15, 2021China’s garment industry continued its streak of expansion in the first three quarters of the year, reporting growth in production, revenue and profit, official data showed. From January to September, the combined operating revenue of 12, 557 major garment companies was nearly 1. 05 trillion yuan (about 163. 9 billion US dollars), up 9 percent […]
US, Japan launch talks to resolve steel, aluminum tariffs: official on November 14, 2021The United States said Friday it had opened talks with Japan aimed at reducing US tariffs on steel and aluminum imports imposed under former president Donald Trump after Washington reached a deal on the same issue with the European Union. “The United States and Japan will seek to resolve bilateral concerns in this area,” US […]
Carbon offsets: a booming market or greenwashing? on November 14, 2021Corporate carbon polluters plant trees to counter their CO2 emissions, but activists warn against greenwashing and say such afforestation schemes detract from the emissions reductions needed to combat climate change. Voluntary carbon offsetting are being hotly debated at the COP26 climate summit in Glasgow. Here’s a backgrounder. Carbon offsetting is when a company seeks to […]
Crude oil prices go down as dollar strengthens on November 13, 2021Crude oil futures prices went down on Friday following a stronger US dollar and uncertainty about any US intervention to curb rising oil prices, including releasing some of its Strategic Petroleum Reserve. At 1505 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.44 (-0.53 percent) to reach $82.43 a barrel. […]
Prize bonds witness Rs332 billion withdrawal in a year on November 12, 2021The bearer prize bonds witnessed a massive withdrawal of Rs332 billion during the last one year; following the government’s initiative to document the saving schemes. According to the latest statistics released by the State Bank of Pakistan (SBP) on Thursday, the investment in bearer prize bonds trimmed to Rs332 billion by September 2021, compared with […]
Shipping activity at Port Qasim on November 9, 2021The movements of ships were reported on Sunday, where six ships namely, Teera Bhum, MSC Paola, Cosco Japan, Chembulk Barcelona, Sea Ploeg and Simaisma carrying containers, chemicals, palm oil and natural gas, arrived at Port Qasim and berthed at Qasim International Container Terminal, Engro Vopak Terminal, Liquid Cargo Terminal and Pakistan Gasport Terminal respectively. Meanwhile […]
Ether hits all-time high of $4,782 as cryptos’ cap breaches $3t mark on November 9, 2021The cryptocurrency market remained bullish on Monday, with the ether setting all-time high and the market capitalisation gaining 3.9 percent to reach $3.1 trillion as of 1225 hours GMT. Bitcoin, the largest cryptocurrency, gained 6.12 percent to reach $65,916, inching back towards a record high above $66,900 set in October 2020. With this increase in […]
Ether reaches $4,599 as cryptos market cap hits 2.9t on November 8, 2021The cryptocurrency market turned around across the board on Sunday after remaining bearish for three consecutive days, with the market capitalisation gaining 3.4 percent to reach $2.9 trillion as of 1310 hours GMT. Bitcoin, the largest cryptocurrency, went up by 2.61 percent to reach $61,865. With this increase in price, the market capitalisation of the […]