KARACHI, June 17(ABC): Pakistan’s foreign exchange reserves fell to their lowest levels since November 2019, reaching $14,943 million, data from the central bank showed Thursday. The total forex reserves held by the country stand at $14 billion as of June 10 — a level that covers imports for 1.32 months. Meanwhile, the total reserves that the State Bank of Pakistan …

ISLAMABAD, June 18 (ABC): Federal Minister for Planning and Development Ahsan Iqbal directed the authorities to ensure inauguration of the new Gwadar Airport by March 23, 2023 along with shifting flight operations from the old airport to the new one. According to reports, the minister was chairing a meeting to enhance Balochistan’s national and international air connectivity. He said that …

BEIJING, Jun 16 (ABC): A special salon themed “Pakistani Mango Tasting, Idea Exchange on Business Development” was held in Guangzhou, China to promote communication and trade between Pakistan and Guangzhou, a busy trade hub that knotted friendship city ties with Lahore, Pakistan. Enjoying the taste and aroma of Pakistan’s Sindhri Mango, one of the world’s top available varieties, guests including …

ISLAMABAD, Jun 16 (ABC): Minister for Board of Investment and Special Initiative, Chaudhry Salik Hussain on Thursday said invited the Developing-8 countries for exploring the investment opportunities in Pakistan Special Economic Zones (SEZs). The Minister interacted with the delegates from the Developing 8 countries and welcomed them to explore the immense investment, especially in Pakistan’s SEZs, said a press release …

ISLAMABAD, Jun 16 (ABC): Ambassador of Portugal to Pakistan Paulo Neves Pocinho on Thursday said that there are vast opportunities for trade and investment between Pakistan and Portugal. The ambassador, Paulo Neves Pocinho, called for strengthening ties between the two countries, especially in economic terms related to investment and trade opportunities. Ambassador of Portugal to Pakistan said this while talking …

ZURICH, June 16 (ABC): Switzerland’s central bank hiked interest rates Thursday for the first time in 15 years and warned of more possible increases, joining a global tightening of monetary policy to tame inflation. In a surprise announcement, the Swiss National Bank raised the rate by 0.5 percentage points, though it remains in negative territory at minus 0.25 percent. The …

ISLAMABAD, JUNE 18 (ABC): Pakistan and Canada have agreed to enhance bilateral cooperation in diverse fields. The understanding was reached at a meeting between Pakistan’s High Commissioner to Canada Zaheer Janjua and Canadian Member of Parliament Salma Zahid in the Canadian capital. During the meeting with Salma Zahid who is also the Chairperson of Canada Pakistan Parliamentary Friendship Group, the …

BRUSSELS, June 18 (ABC): Europe sent a powerful symbol of solidarity with Ukraine on Friday, when Brussels backed Kyiv’s bid for EU candidate status, even as Russia shelled frontline Ukrainian cities and cut back gas supplies to the West. With the European Commission’s backing, Ukraine could now be added to the list of countries vying for EU membership as early …

FRANKFURT, June 16 (ABC): European Central Bank policymakers called an emergency meeting on Wednesday, as more indebted eurozone states have come under pressure from rising borrowing costs. A week after a regular gathering, the governing council will hold an “ad-hoc meeting” to discuss “current market conditions,” an ECB spokesperson said. The ECB drew a line under years of ultra-loose monetary …

SYDNEY, June 16 (ABC): Australia’s new centre-left government submitted new, more ambitious, emissions targets to the United Nations Thursday, seeking to end a decade of footdragging on climate change. Prime Minister Anthony Albanese raised the country’s 2030 emissions reduction target to 43 percent, saying it “sets Australia up for a prosperous future, a future powered by cleaner, cheaper energy”. Australia’s …