TOKYO, Jun 01 (ABC): Capital spending by Japanese companies increased in the January-March quarter from a year earlier, booking the fourth quarter of gains, as business spending on digital and green technology rose notably, the government said in a report on Wednesday. According to the Finance Ministry, capital spending by Japanese companies rose 3.0 percent in the January-March quarter from …

HONG KONG, June 01(ABC): Asian markets fluctuated Tuesday as investors struggled to maintain a global rally, with inflation continuing to niggle owing to a pick-up in oil prices while a top Federal Reserve official pressed for a series of sharp interest rate hikes. With Wall Street closed for a holiday there were few catalysts to help extend the gains enjoyed …

PARIS, June 01(ABC):France’s economy shrank in the first quarter as households spent even less than previously thought due to rising inflation, the statistics agency said Tuesday, lowering an initial estimate of zero growth. Russia-Ukraine conflict has sent energy and food prices soaring worldwide, raising concerns that inflationary pressure could derail the economic recovery from the Covid pandemic. France’s worse-than-estimated performance …

BEIJING, June 01(ABC): China’s State Council issued a circular on Tuesday, urging the implementation of a package of detailed policy measures to further stabilize the economy. The package, which was announced at a State Council executive meeting last week, includes 33 measures covering fiscal and financial policies as well as policies on investment, consumption, food and energy security, industrial and …

ISLAMABAD, June 01(ABC): The Finance Minister Miftah Ismail said that Russia did not offer a 30% discount on oil and wheat, adding that the budget is likely to withdraw subsidies and increase taxes. Pakistan’s Finance Minister Miftah Ismail said on Tuesday that Islamabad has asked both Russia and Ukraine to sell it wheat, stressing that sanctions on Moscow mean it …

  ISLAMABAD, June 01(ABC): Prices of ghee and cooking oil have increased immensely at utility stores all over the country on Tuesday. The Utility Stores Corporation has issued a notification of the increase in the prices. As per the notification, the price of ghee has been increased up to Rs. 208 per kg and price of cooking oil of different …

  ISLAMABAD, June 01(ABC): The federal government Tuesday approved keeping the prices of petroleum products unchanged, a notification from the Ministry of Finance said. Prime Minister Shehbaz Sharif has directed the ministry to maintain the price announced on May 27 — the day that the federal government made a massive price hike of Rs30 in petroleum products. “With a view …

  LAHORE, May 31(ABC): Motorbike makers in Pakistan have again raised the prices by between Rs 3600 and Rs 9000 following a massive hike in petrol prices, reported on Tuesday. Market leader Atlas Honda has raised the prices of different model upto Rs 9000. After an increase of Rs 3600 , the CD-70 now sell at Rs 106,500 followed by …

ISLAMABAD, May 31(ABC): The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Monday, gaining 178.69 points, with a positive change of 0.42 percent, closing at 43,040.14 points against 42,861.45 points on the last working day. A total of 187,471,668 shares were traded during the day compared to the trade of 527,672,738 shares the previous day,whereas …

ISLAMABAD, May 31(ABC): The federal government is expected to present a development budget of Rs 700 billion for the next fiscal year 2022-23 on June 10 in the National Assembly, reported on Monday. Sources privy to the development said that targets for inflation, exports, imports were set and also proposed to impose additional tax of Rs.1155 billion for the next …