OTTAWA, June 14(ABC): Canada’s jobless rate inched down to a new record low after adding more jobs than expected in May, and wage growth picked up steam, official data showed on Friday, bolstering the case for an even larger rate increase next month by the central bank. Canada added a net 39,800 jobs in May, entirely in full-time work, beating …

COLOMBO, June 14(ABC):  Crisis-hit Sri Lanka announced weekly fuel quotas for motorists on Sunday, as an acute shortage worsened and longer queues formed outside the few pumping stations still operating. Energy minister Kanchana Wijesekera said the state-run Ceylon Petroleum Corporation was struggling to finance oil imports, while consumption had shot up due to shortages of electricity and liquefied petroleum gas. …

HONG KONG, June 13(ABC): Markets tumbled in Asia on Monday and the dollar rallied as part of a global rout fuelled by a forecast-beating US inflation print that ramped up bets on a more aggressive campaign of Federal Reserve interest rate hikes. Fresh Covid outbreaks in Shanghai and Beijing have also seen authorities reimpose containment measures soon after lifting them, …

KARACHI, June 13(ABC): The Pakistani rupee (PKR) continued taking a beat from the US dollar on Tuesday in intraday trade as it has lost 1.65 rupees. The greenback was being quoted around 204 against the local currency compared to Rs202.35 in the previous session close in the interbank market. Meanwhile, the KSE 100-index of the Pakistan Stock Exchange (PSX) also …

ISTANBUL, June 12 (ABC): Turkish consumers on Saturday was struck by the third round of fuel price hike in a week, as a volatile Turkish currency took its toll on the economy, which relies largely on imports. The per liter gasoline price rose by 2.18 liras (about 0.12 U.S. dollars) to nearly 28.5 liras across the country, Birgun daily reported, …

ISLAMABAD, Jun 12 (ABC): Chief Executive Officer Pakistan Furniture Council (PFC) Mian Kashif Ashfaq Sunday disclosed that for the first time Pakistan’s exports to Italy exceeded its imports from the country – depicting upward trends in promotion of bilateral trade between the two countries. Talking to a delegation of exporters and importers led by honorary Investment Consular and Tourism Ambassador …

QUETTA, Jun 12 (ABC): The test flight from new Gwadar International Airport would be started from December this year as the construction work on site has been expedited, an official of Gwadar Development Authority said. The new $246m greenfield Gwadar International Airport (NGIA) being built at an area of 4,300 acres would be made operational before the deadline which was …

KARACHI, June 12(ABC): In view of the high dollar demand for import payments ahead of fiscal year-end, traders say that the local currency is expected to remain on the back foot in the next week. The local currency was volatile, having swung between 200.06 to a new record low of 202.83 per dollar during the outgoing week. It closed at …

TEHRAN, June 12(ABC): Iran and Venezuela signed a 20-year cooperation plan in Tehran as the two countries, among the world’s top oil producers, grapple with US sanctions that are crippling their exports. The signing ceremony, carried by Iranian state TV, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and took place at the Saadabad Palace …

KARACHI, June 12(ABC): The State Bank of Pakistan (SBP) has extended the last date for exchanging old banknotes of Rs10, 50, 100 and 1,000 till December 31, 2022. The central bank extended the last for exchanging old banknotes of Rs10, 50, 100 and 1000 for one year. The people can exchange the old banknotes from any of the SBP offices …