NEW YORK, June 16 (ABC): Wall Street stocks welcomed aggressive moves by the Federal Reserve to counter inflation, while European equities also gained following an emergency central bank meeting to address fallout from monetary tightening. The US central bank raised the benchmark borrowing rate by 0.75 percentage points, bigger than the telegraphed 0.5-percentage-point increase after economic data in recent days …

ISLAMABAD, June 18(ABC): Keeping in view growing demand, Pakistan is seeking four shipments of liquefied natural gas (LNG) for delivery in July According to details, Pakistan LNG Limited has sought bids from interested international suppliers by June 23. According PLL statement, the four delivery windows given to companies for the cargoes are July 3-4, 8-9, 25-26 and 30-31.

KARACHI, June 16(ABC): The increase in petroleum prices and hopes of the revival of the International Monetary Fund (IMF) programme helped the Pakistan Stock Exchange (PSX) remain in the green on Thursday. The stock market started in the red but soon the bulls staged a comeback and held a firm grip during the session. At close, the benchmark KSE-100 index closed …

WASHINGTON, June 16(ABC): The Federal Reserve announced the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points on Wednesday as it battles against surging inflation. The Fed’s policy-setting Federal Open Market Committee reaffirmed that it remains “strongly committed to returning inflation to its 2 per cent objective” and expects to continue …

KARACHI, June 15(ABC): The bulls dominated the trading at the Pakistan Stock Exchange (PSX) on Wednesday as the benchmark KSE-100 index gained over 300 points. The stock market managed to stay in the green throughout the day and closed on a positive note. At close, the benchmark KSE-100 index closed at 41,438.79 points with a gain of 384.11 points or …

HONG KONG, June 15(ABC): Asian equities were mixed Wednesday with investors nervously awaiting a Federal Reserve interest rate decision that has taken on greater significance since a forecast-busting inflation report sent shockwaves through world markets. Trading floors saw a sea of red at the start of the week after data showed US consumer prices soared at their fastest pace in …

ISLAMABAD, June 15(ABC): Ten ships of edible oil will arrive in Pakistan in the next two weeks from Indonesia and Malaysia. After successful negotiations of Pakistani delegation that visited Indonesia, it was agreed between the two countries that Indonesia will provide 2.5 million metric tons of edible oil to Pakistan on urgent basis. According to a statement released today by …

ISLAMABAD: Additional measures will be needed to bring Pakistan’s budget for FY2022-23 in line with the key objectives of its International Monetary Fund programme, the lender’s resident representative in Islamabad said on Monday. Pakistan unveiled a 9.5 trillion Pakistani rupee ($47 billion) budget for 2022-23 on Friday aimed at tight fiscal consolidation in a bid to convince the IMF to restart much-needed …

ISLAMABAD, June 14(ABC): Director General, Asian Development Bank (ADB), Eugene Zhukov here on Monday apprised the Federal Minister for Finance and Revenue, Miftah Ismail about the Country Partnership Strategy for Pakistan 2021-25, which is aligned with the government’s development vision. He was talking to finance minister during a meeting, which among others were also attended by Country Director ADB, Yong …

HONG KONG, June 14(ABC): Equity markets tumbled again Tuesday to extend a global rout fuelled by fears of recession, with the Federal Reserve preparing to ramp up interest rates as inflation shows no sign of slowing. Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest pace in a generation owing to …