KARACHI, June 22(ABC): The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index opened in the green on Wednesday, continuing its momentum from the previous day and soaring more than 100 points in the first hour of trading, just hours after the Islamabad and the International Monetary Fund (IMF) reached an understanding on the federal budget. According to the PSX website, the …

ISLAMABAD, June 21 (ABC): Promotion of trade in treated gemstones offers great economic benefits to Pakistan as the country is blessed with abundant deposits of both precious and semi-precious stones. “As some gemstones have a few natural flaws, they need to be treated to enhance their quality. More than 80% of gemstones traded in the market are treated in one …

BEIJING, June 21 (ABC): Pakistan’s export to China crossed $1.605 billion in the first five months of 2022, up 5.42 percent year on year, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC). Badar uz Zaman, Commercial Counsellor at Pakistani Embassy in Beijing, said that despite the epidemic of COVID-19, bilateral trade …

HONG KONG, June 21(ABC): Equities rose Tuesday in Asia as some stability returned to markets after last week’s upheaval, but analysts warned of further pain for traders after central bank officials hinted at further interest rate hikes to reel in inflation. While there was no catalyst from Wall Street owing to a public holiday, a healthy performance across Europe provided …

WEB DESK, June 21(ABC): Oil prices rose 1% on Tuesday, clawing back more of last week’s losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward. Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel at 0400 GMT, adding to a 0.9% gain on Monday. …

DUBAI, June 20 (ABC): Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai announced the opening of Expo City Dubai, this coming October 2022. The new city is an ideal smart and futuristic destination for business and innovation, driven by sustainability, innovation, education, and entertainment. Expo City Dubai – the legacy plan of Expo 2020 …

ISLAMABAD, Jun.20 (INP): Speakers at a webinar called for tapping and promoting Pakistani handicrafts export potential, says a report published by Gwadar Pro. The webinar on pricing strategies and logistic solutions for the export of handicrafts from Pakistan to China was jointly organized by the Consulate General of Pakistan in Shanghai and the Trade Development Authority of Pakistan. Hussain Haider, Consul …

ISLAMABAD, June 20 (ABC): The 1,320 megawatts Thar Coal Block-1 (TCB-1) power plant has achieved an overall 85% work progress and the 660MWs unit-1 is close to entering commissioning, a senior official of TCB-1 told on Monday. TCB-1 is the largest indigenous coal-based power plant project in Thar Block-1 under the China-Pakistan Economic Corridor (CPEC) initiative. The mine-mouth plant will …

HONG KONG, June 20(ABC): Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in soaring inflation will induce a recession. The losses come after a sell-off last week fuelled by the Federal Reserve’s sharp interest rate hike last week — the biggest in nearly 30 years — and a warning …

ISLAMABAD, June 20(ABC): Pakistan earned US $2,197.787 million by providing different Information Technology (IT) services in various countries during the ten months of fiscal year 2021-22. This shows growth of 29.29 percent as compared to US $1,699.860 million earned through provision of services during the corresponding period of fiscal year 2020-21, Pakistan Bureau of Statistics (PBS) reported. During July-April (2021-22), …