ISLAMABAD, July 5, 2022 (ABC): The Economic Co-ordination Committee (ECC) has lifted the ban on import of luxury items. During the meeting, the Economic Co-ordination Committee (ECC) approved the continuation of subsidy on five basic items at utility stores. Approval was also given to impose National Disease Emergency while a committee was set up for issuance of telecom license. The …

KARACHI, July 15(ABC): The Pakistan Stock Exchange (PSX) closed the week on a negative note as the bears and bulls locked horns to take charge of the bourse in the absence of major positive triggers that could provide direction to the market. Investors reacted with panic to the depreciating Pakistani rupee against the US dollar and political uncertainty in the …

ISLAMABAD, July 6(ABC): The exports of services from the country witnessed an increase of 17.71 percent during the first eleven months of the current financial year (2021-22) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-May (2021-22) were recorded at US$ 6,318.11 million against the exports of …

HONG KONG, July 6(ABC): Oil prices rose Wednesday after suffering a painful drop the previous day, though the euro remained wedged at a 20-year low and equities mostly fell in Asia as recession fears continue to flow through trading floors. Both main crude contracts were pummelled Tuesday as investors grow increasingly worried that leading economies will contract this year or …

ISLAMABAD, July 5 (ABC): There is a great potential in expanding the value chain of agricultural products in Pakistan. If the country brings average crop yield to par with that of the world, Pakistani farmers can generate additional revenue, says a report on Tuesday. In this regard, China Machinery Engineering Corp (CMEC) is playing a vital role in helping Pakistan …

LONDON, July 5(ABC): Oil prices dropped $6 on Tuesday as concerns about a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude was down $6.65, or 5.9%, at $106.85 a barrel by 1,344 GMT, and US West Texas Intermediate (WTI) crude fell $5.65, or 5.2%, to $102.78 a barrel from …

KARACHI, July 5(ABC): Gold price in Pakistan rise by Rs1,500 per tola in Pakistan on Tuesday in line with the depreciation of the Pakistani rupee against the US dollar. The price of the precious commodity rose by Rs1,500 per tola and Rs1,286 per 10 grams to settle at Rs142,900 and Rs122,514, respectively. A day earlier, the precious commodity closed at Rs141,400 …

KARACHI, July 14(ABC): The country’s foreign exchange reserves held by the State Bank of Pakistan (SBP) continued to decline on a weekly basis. On July 7, the foreign currency reserves held by the SBP were recorded at $9,717.5 million, down $99 million compared with $9,816.3 on June 30, data released by the State Bank of Pakistan (SBP) on Thursday showed. …

BEIJING, July 14 (ABC): Currently, out of the $144 million in foreign investment in Solar PV plants in Pakistan, $125 million is from China, accounting for nearly 87% of the total. Among the 530MW cumulative generation capacity in Pakistan, 400 MW (75%) is generated from Quaid-e-Azam Solar Park, the first-ever power plant capable of generating solar energy in Pakistan, owned …

KARACHI, July 5(ABC): The Pakistan Stock Exchange (PSX) on Tuesday continued its downward trend with a loss of over 200 points. The stock market opened in the green, however, it later succumbed to selling pressure as the bears staged a comeback following Pakistan rupee’s depreciation against the US dollar. At close, the benchmark KSE-100 index closed at 41,102.57 points with a loss …