PARIS, July 5(ABC): Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth over coming years as consumers switch to alternatives, the IEA said Tuesday. The International Energy Agency chopped its forecast for global gas demand by more than half in its latest quarterly report on gas markets. It now …

ISLAMABAD, Jul 14 (ABC): Pakistan Railways has utilized funds amounting to Rs 167.659 million, out of total Rs 352 million allocations made during the last three years to ensure safe and secure travelling for the passengers of the Balochistan province. “The government had allocated Rs 121 million in 2018-19 and the department spent Rs 42.430 million out of it, while …

SINGAPORE, July 14 (ABC): The Monetary Authority of Singapore (MAS) on Thursday further tightened its policy stand by raising the mid-point of the Singapore dollar Nominal Effective Exchange Rate (S$NEER) policy band to its prevailing level to fight price pressures. According to the newly-published MAS Monetary Policy Statement, the authority kept the slope and width of the policy band unchanged. …

ISLAMABAD, Jul 4 (ABC): Owing to incentives introduced by the government for enhancing area under oil seeds cultivation, local output of oil seed crops including canola, sunflower and mustard witnessed encouraging growth during last season, which would help to increase local output of edible oil as well as reduce the reliance on imported commodity. Meanwhile, area under oil seed cultivation …

ISLAMABAD, Jul 14 (ABC): The Central Directorate of National Savings (CDNS) has set a saving target of Rs 1.5 trillion for the current Financial Year (2022-23) which will promote savings culture in the country. At this time, the current market trend in the country and the ambitious target was set to further improve the savings culture, the senior official of …

CANBERRA, July 14 (ABC): Australia’s unemployment rate has fallen to its lowest level in almost 50 years. According to labor force data published by the Australian Bureau of Statistics (ABS) on Thursday, the official unemployment rate in June was 3.5 percent, down from the 3.9 percent recorded for the previous three months. “This is the lowest unemployment rate since August …

NEW YORK, July 14(ABC): Oil prices rose on Thursday, with Brent breaking above $100 a barrel, as investors weighed tight supplies against the prospect of a large US rate hike that would stem inflation and curb crude demand. Brent crude futures for September climbed 68 cents, or 0.7%, to $100.25 a barrel by 0400 GMT after settling below $100 for …

LONDON (ABC): Britain’s economy rebounded in May, official data showed Wednesday, dampening fears of a slowdown despite surging inflation and rising interest rates. Gross domestic product expanded by 0.5 percent, the Office for National Statistics said in a statement, beating expectations of no growth. “The economy rebounded in May with growth across all main sectors,” said Darren Morgan, ONS director …

KARACHI, July 4(ABC): The Pakistan Stock Exchange (PSX) started the week on a negative note as the bulls staged a comeback and the market closed with a loss of 200 points on Monday. The market opened in the green but soon witnessed profit-taking. At close, the benchmark KSE-100 index closed at 41,348.19 points with a loss of 282.16 points or …

KARACHI, July 4(ABC): The gold price in Pakistan receded on Monday with a drop of Rs300 per tola amid rising inflation. According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of the yellow metal settled at Rs141,400 per tola in the local bullion market. Meanwhile, the price of gold lost Rs257 per 10 grams to close at …