The rupee is expected to remain under pressure next week as uncertainty might persist regarding on-going political turmoil and negotiations with IMF on resumption of financial programme, traders said. The local unit faced continued pressure during the outgoing week. It started the week at 180.57 levels against the dollar and ended at Rs181.78 on Friday. Political uncertainty, deadlock over conclusion…
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The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has welcomed the govt’s efforts to escape a penalty of $11 billion after reaching an out-of court settlement on the Reko Diq project in the Chagai district of Balochistan. The BMP chairman and FPCCI former president Mian Anjum Nisar observed that following the new deal the project would…
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For ensuring diesel availability in the harvesting season amid volatile international market, the government on Friday allowed an increase in premium charged to Pakistani importers by spot traders for three months i.e. April-June. The decision to this effect was taken at a hurriedly called special meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister…
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Project spreads over 30-acre area with assisted living facility for elders in first phase New Jersey – USA The non-profit Imamia Medics International (IMI) has formally launched work on its flagship Dream Project in Robbinsville, New Jersey. An impressive ceremony was held in this connection at a hotel in New Jersey on 15th Shaban, Saturday 19th March. The event was…
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March 2022
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Beijing welcomes Afghanistan’s active participation in the Belt and Road Initiative, a global infrastructure plan proposed by China, and is willing to push for extending the China-Pakistan Economic Corridor (CPEC) to Afghanistan, Chinese Foreign Minister Wang Yi said on Thursday as he made a surprise visit to Kabul. Wang met acting Afghan Foreign Minister Amir Khan Muttaqi to discuss political…
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The United Nations has warned that Russia’s invasion of Ukraine could trigger a global famine as Moscow’s Black Sea blockade delays crucial grain exports, and stoked fears of a deepening hunger crisis in countries such as Yemen and Ethiopia. The UN’s special rapporteur on the right to food, Michael Fakhri, warned on Friday of a global famine as the result…
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Mexico’s energy system relies heavily on U.S. natural gas and this could lead to price increases and supply shortfalls if the United States focuses more on the liquefied natural gas (LNG) export market, according to analysts at Fitch Ratings Inc. If the U.S. increases gas exports to Europe as a result of Russia’s invasion of Ukraine, “Mexico could face high…
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A few days back, the Iranian ambassador in New Delhi delivered a very important statement in which he said: “Iran is ready to meet India’s energy needs by launching trade in Indian and Iranian local currencies for export of oil and gas.” According to H H Ali Chegeni, Tehran is also willing to work closely with India to revive and…
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As Russia develops the Yamal LNG project facility — Islamabad and Moscow are in talks to a multi-billion dollar government-to-government import deal. The Yamal LNG Project includes the development of the giant South Tambey (Tambeyskoye) gas field that is located near Sabetta in the Yamal peninsula in Russia. The Russian government has declared the project to be of national interest…
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