ANKARA, August 11(ABC): Türkiye’s current account balance registered a $3.4 billion deficit in June, widening by $2.2 billion year-on-year, according to official data released on Thursday. The figure stemmed from a marked rise in the goods trade deficit, which grew $4.8 billion to reach $6.4 billion, the Turkish Central Bank said. The country’s 12-month rolling deficit stood at $32.7 billion …

WEB DESK, August 11(ABC): Oil prices fell in early Asian trade on Thursday as traders anticipated more supply of crude entering the market coupled with weaker demand. Brent crude futures fell by 53 cents, or 0.5%, to $96.87 a barrel by 0005 GMT, while U.S. West Texas Intermediate crude futures fell 61 cents, or 0.7%, to $91.32. U.S. crude oil …

WEB DESK, August 10(ABC): Tesla Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners …

KARACHI, August 10(ABC): The Pakistani rupee continued to strengthen against the US dollar for the seventh consecutive session during intraday trade in the interbank market on Wednesday. The market remained closed for two days — Monday and Tuesday — on account of Ashura, but as it opened today (Wednesday), the rupee gained 2.51 against the dollar and was trading at …

LONDON, August 10(ABC): Oil rose over $1 a barrel on Tuesday, reversing an earlier decline, after Russia said oil exports to Europe via the southern leg of the Druzhba pipeline had been suspended since early August, reviving concern about tight supply. Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg because Western sanctions had prevented …

LONDON, August 8(ABC): Stock markets rose and the dollar retreated Monday as investors turned their attention to US inflation data later this week and weigh the prospect of further monetary policy tightening. The dollar was weaker as investors took profit on the strong gains notched up last week on speculation that the US Federal Reserve will announce a third successive …

ISLAMABAD, August 6(ABC): Gems exports during the twelve months of fiscal year of 2021-22 grew up by 14.10 percent as compared to the exports of the commodity during the corresponding period of last year. During the period from July-May 2021-22, Gems worth US $ 7,626 as compared to exports of $6,684 during the same period of last year. According to …

NEW YORK, August 6(ABC): Stock markets mostly fell Friday as a much stronger-than-expected US jobs report raised the prospect that the Federal Reserve will maintain its aggressive monetary policy to combat inflation. Official data published Friday showed the US economy added 528,000 positions, defying all expectations of a slowdown. Friday’s data also showed US wages jumped, which will add to …

BEIJING, August 6(ABC): The China Machinery Engineering Corp. (CMEC) successfully commissioned two gas turbines (405 MWs each) of the Punjab Thermal Power Ltd. (PTPL) power plant in the Jhang district. We have started simple-cycle commercial operations from the two RLNG-based gas turbines of total 810 megawatts capacity, PTPL said. Work on the 443 MWs steam turbine is also underway at …

BEIJING, August 6(ABC): China’s renewable energy solutions conglomerate Zonergy has installed four solar power plants at different buildings of BahawalVictoria Hospital in Bahawalpur district of Punjab province. The plants, having a total peak generation capacity of 325kW, have been installed by the Chinese company free of cost under its Corporate Social Responsibility (CSR) agreement with the government of Punjab reported. …