LONDON, June 17(ABC): The Bank of England on Thursday hiked its main interest rate for a fifth straight time, as it forecast British inflation to soar further this year to above 11 percent. BoE policymakers agreed at a regular meeting to increase the cost of borrowing by a quarter-point to 1.25 percent, the highest level since the global financial crisis …

BEIJING, June. 19 (ABC): China-Pak mango cooperation will give impetus to king of fruit industry, according to a report on Sunday. There is a dire need for joint ventures with China for establishing quality enhancement centres, fruit processing units, dehydration plants, drip irrigation and cold storage chains so Pakistani fruits could be exported in line with international standards,” Ehsan Chaudhry, …

TOKYO, June 17 (ABC): Tokyo stocks closed lower on Friday as moves by central banks outside Japan to hike interest rates fuelled recession fears. The benchmark Nikkei 225 index was down 1.77 percent, or 468.20 points, to end at 25,963.00, while the broader Topix index slipped 1.71 percent, or 31.91 points, to 1,835.90. The US Federal Reserve’s decision to raise …

ISLAMABAD Jun 19 (ABC): Eastbay Expressway in Gwadar has turned into a road of technology, says a report on Sunday As the only expressway in Gwadar, Eastbay Expressway runs through an array of complicated terrains from coast to mountains. Underpinning is the advanced construction technology. Of the over 19-km road, about 4 kilometers of the area is reclaimed from the …

NEW YORK, June 18 (ABC): Stock markets wobbled and oil prices sank on Friday amid growing fears that inflation-fighting interest rate hikes by central banks could trigger recession. Investors were shaken this week after the US Federal Reserve unleashed its biggest hike in borrowing costs for almost 30 years to tackle red-hot consumer prices. The third Fed increase was followed …

Geneva, June 17 (ABC): The World Trade Organization concluded a landmark bundle of deals Friday covering fishing subsidies, food insecurity and Covid-19 vaccines following hectic round-the-clock talks. WTO director-general Ngozi Okonjo-Iweala said trade ministers had struck an “unprecedented package of deliverables” which would make a difference to people’s lives across the planet. The talks at the global trade body’s Geneva …

ISLAMABAD, June 17 (ABC): Rising Cost of Energy and taxation haunting Ceramic tile Industry and what is the way-out needed to be considered, says a report on Friday. Since 2018, with strong policy support, the ceramic tile industry, which used to be highly dependent on imports, began to turn to local production. Now, 80% of tiles in Pakistan are produced …

ISLAMABAD, June 19 (ABC): To meet the deadline, construction is underway simultaneously at 10 sites of Dasu Hydropower Project (DHPP) in Upper Kohistan district of Khyber Pakhtunkhwa (KP) province, according to report. Chairman WAPDA Naveed Asghar Chaudhry on Friday chaired a progress review meeting on HDPP. “Work on 10 project sites is underway to meet the 2026 deadline for power …

MARANELLO, June 17(ABC): Ferrari unveiled Thursday plans to turn 80% of its production into all-electric or hybrid cars by 2030 in a major shift for an iconic brand renowned for its powerful combustion engines. “Electrification is a way to improve performance,” new chief executive Benedetto Vigna said as he unveiled a four-year strategic plan at the brand’s historic Maranello site …

ISLAMABAD, Jun 19 (ABC): Ambassador of the Republic of Kyrgyzstan to Pakistan Ulanbek Totuiaev on Sunday said that the bilateral Preferential Trade Agreement (PTA) between Pakistan and Kyrgyzstan would not only increase the trade volume between the two countries but also act as a catalyst for regional economic integration. Ulanbek Totuiaev said the implementation of the PTA would serve as …