Business & Economy

Colombo, April 8 (AFP/APP):Cash-strapped Sri Lanka’s central bank hiked interest rates by a record 700 basis points Friday as police fired tear gas at hundreds of students protesting over the economic crisis. Severe shortages of food and fuel, alongside lengthy electricity blackouts, have led to […]

ISLAMABAD, Apr 08 (APP): Managing Director Utility Stores Corporation (USC) Taha Aziz Maghribi on Friday visited various stores in Peshawar, Abbottabad to review the supply and sale of basic items provided under the package. According to the press release issued Islamabad office, Managing Directer USC […]

Islamabad, April 07 (ONLINE): Muhammad Shakeel Muhammad, President, Islamabad Chamber of Commerce & Industry (ICCI) has expressed great concerns over the Pakistan’s rising trade deficit, which has widened 70 percent to USD 35.4 billion during July-March 2022 due to rising imports and stagnant exports, which […]

KARACHI, Apr 07 (APP): The total liquid foreign reserves held by the country stood at US$ 17,476.9 million as of April 1st, 2022. The break-up of the foreign reserves position is as under: i) Foreign reserves held by the State Bank of Pakistan: US$ 11,319.2 […]

KARACHI, Apr 07 (APP):The State Bank of Pakistan on Thursday announced to increase its policy rate (interest) by 250 basis points to 12.25 percent, from 10 percent, for next two months.   SBP’s Monetary Policy Committee, in its meeting here at State Bank’s headquarters,  decided […]

London, April 7 (AFP/APP): British energy giant Shell warned Thursday that it would take a hit of up to $5 billion (4.6 billion euros) on its exit from Russia, following Moscow’s invasion of Ukraine. Impairment from assets and additional charges relating to Russia activities were […]

MANILA, April 7 (Xinhua/APP): The unemployment rate remained at 6.4 percent in February despite easing of pandemic restrictions, the Philippine Statistics Authority (PSA) said Thursday. In a virtual press conference, PSA head Dennis Mapa said the labor force participation rate increased from 60.5 percent in […]

ISLAMABAD, Apr 7 (APP): Pakistan Furniture Council (PFC), in collaboration with Chenone will participate in another 3-day “EMITEX” expo, which would be held in Buenos, Aires, Argentina to showcase Pakistani products and identify new global markets besides luring foreign investments. Chief Executive Officer PFC , […]

COLOMBO, April 7 (Xinhua/APP): Sri Lankan President Gotabaya Rajapaksa has appointed an advisory group on debt sustainability composed of economic and financial experts, the president’s media division said on Wednesday night. The members of the advisory group include Indrajit Coomaraswamy, former governor of the central […]

SEOUL, April 6 (Xinhua/APP) –: The South Korean government of President Moon Jae-in on Wednesday approved reserve fund for President-elect Yoon Suk-yeol’s plan to relocate the presidential office. The spending of 36 billion won (30 million U.S. dollars) in reserve fund was approved in an […]