ISLAMABAD, Aug 24 (ABC): The State Bank of Pakistan (SBP) on Wednesday directed all the commercial banks and micro-finance banks to raise awareness among the potential donors and facilitate them in contributing to the PM’s Flood Relief Fund 2022. The SBP, in a circular, advised the banks to take measures in that respect on priority and submit the compliance by …

BEIJING, Aug 24 (ABC): Pakistan Ambassador to China, Moin ul Haque said that Pakistan’s exports to China had registered an upward trend in the first seven months of current year and with this momentum, it was likely to cross US$4 billion target by end of this year. “Our exports to China remained at US$3.6 billion with a record increase last …

ISLAMABAD, Aug 24 (ABC): The export of Pharmaceutical goods witnessed a decrease of 1.44 percent during the first month of current fiscal year, against the exports of the corresponding period of last year. The country exported Pharmaceutical goods worth US $23.970 million during July 2022 against the exports of US $24.319 million during July 2021, showing a decline of 1.44 …

ISLAMABAD, Aug 24 (ABC): Pakistan rupee on Wednesday depreciated by 72 paisa against the US dollar in the interbank trading and closed at Rs 218.37; against the previous day’s closing of Rs 217.65. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 223 and Rs 226 …

BEIJING, Aug 24(ABC): Pakistani pine nuts’ exports to China in the first seven months of this year crossed US $41.48 million, according to the official data from the General Administration of Customs of the People’s Republic of China (GACC). Data from GACC showed that during January-July of 2022, China imported 3,770.76 tons of pine nuts from Pakistan worth $41.48 million …

ISLAMABAD, Aug 24(ABC): The current account deficit shrank to $1.2 billion in July from $2.2 billion in June, largely reflecting a sharp decline in energy imports and a continued moderation in other imports, a data released by State Bank of Pakistan (SBP) said on Wednesday. “The narrower deficit is the result of wide-ranging measures taken in recent months to moderate …

ISLAMABAD, Aug 24 (ABC): The exports of fish and fish preparations increased by 30.02 percent during the first month of the current fiscal year as compared to the corresponding month of last year. The seafood exports during July 2022 were recorded at US $18.506 million against the exports of US $14.233 million in July 2021, showing growth of around 30.02 …

KARACHI, Aug 23(ABC): After a two-session respite, gold resumed its downward trend on Tuesday despite the depreciation of the Pakistani rupee against the US dollar. The price of gold inched down by Rs150 per tola and Rs129 per 10 grams to settle at Rs146,000 per tola and Rs125,171 per 10 grams, data released by the All Sindh Sarafa and Jeweller …

ISLAMABAD, Aug 23(ABC): The Securities and Exchange Commission of Pakistan (SECP) has published a concept paper titled “Review of Landscape and Revamping Framework-REITs” for soliciting public comments. It provided a glance at Real Estate Investment Trusts (REITs) Industry and covered proposed amendment(s) in the REITs regulatory framework, said a press release issued here. The aim of proposed regulatory amendments was …

SYDNEY, Aug 23(ABC): Asian shares were down for a sixth straight session on Tuesday after a renewed spike in European energy prices stoked fears of recession and pushed bond yields higher, while tipping the euro to 20-year lows. Benchmark gas prices in the European Union surged 13% overnight to a record peak, having doubled in just a month to be …