BEIJING, May 21 (ABC): China has granted more than 5 billion RMB  for several socio-economic projects during the last 7 years to upgrade the living conditions of the local people of Gwadar under Corporate Social Responsibility (CSR) Initiatives. The grant is dedicated to New Gwadar International Airport (NGIA), East Bay Expressway, 300-bed China-Pakistan Friendship Hospital, China-Pakistan Vocational and Technical Training …

ISLAMABAD, May 21(ABC ): The ‘Gauss Auto Group,’ a Chinese corporation, has announced to construct electric vehicle (EV) plant in Pakistan’s special economic zone near Port Qasim in Karachi. The company would enter into a Joint Venture (JV) with AKD Group Holdings (Pvt.) limited and set up the plant near Port Qasim, Karachi on around 1000 acres of land. The …

ISLAMABAD, May 21 (ABC):The gold imports increased by 159.87 percent during the first ten months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-April (2021-22) were recorded at $18.006 million as compared to the imports of $6.929 million during July-April (2020-21), according to the …

ISLAMABAD, May 21 (ABC):Rice exports from the country during 10 months of current financial year witnessed about 17.21% increase as compared the corresponding period of last year. During the period from July-April, 2021-22 4,044,269 metric tons of rice valuing $2.051 billion exported as against the exports of 3.190,559 metric tons worth $1.750 billion of same period of last year, according …

ISLAMABAD, May 21 (ABC): Locally assembled Chinese mobiles and vehicles have gained a foothold in Pakistan’s car and mobile phone markets. The ban on importing vehicles and phones will further increase the manufacture of Chinese cars and cellphones locally and will help the Government of Shehbaz Sharif to save the country’s foreign reserves, says a report published by Gwadar Pro …

ISLAMABAD, May21(ABC): Inflation rose further to 1.42% weekly across the country on Friday. According to the statistics, during one week, live chicken became more expensive at Rs 28.26 per kg, lentils at Rs 14.88, gram lentils at Rs 6.54 and mash lentils at Rs 5.18 per kg while a 20 kg bag of flour at Rs 54.62 with the increase …

KARACHI, May 21(ABC): Dollar’s rate is continously rising as compared to Pakistani Rupee and has risen over 60 paisas in the Interbank on Friday. After its increase of 60 paisas in the Interbank, Dollar is now at Rs.200 and 60 paisas while the greenback is being sold at Rs.202 in the open market. It should be noted that the Dollar …

ISLAMABAD, May 20 (ABC): Prime Minister Shehbaz Shareef has announced to present the budget for the fiscal year 2022-23 in the National Assembly on June 10. The Prime Minister’s office has issued a notification announcing that the budget for the fiscal year 2022-23 will be presented on June 10. The budget, after passing from the NA, will be forwarded to …

ISLAMABAD, May 20(ABC): During the talks with International Monetary Fund (IMF) in Doha, Pakistan on Friday presented their plan to reduce the subsidy on petrol prices. As per sources privy to the matter, during the talks with IMF, Pakistan have presented their plan to increase the prices of petrol while suggestions were also made to limit petrol subsidy to the …

HONG KONG, May 20 (ABC):Asian markets saw a sustained bump Friday following China’s decision to lower a key benchmark rate, injecting optimism among traders that it could boost the world’s second-largest economy from its Covid-battered knees. Downcast earning reports from retailers this week have heightened uncertainty in the world markets at a time of rising interest rates, surging energy prices, …