KARACHI, July 21(ABC): Gold firmed on Thursday as the prospect of aggressive policy tightening by major central banks weighed on the non-interest-bearing metal’s appeal, while investors awaited European Central Bank’s policy announcement. According to All Sindh Sarafa Jewellers Association (ASSJA), gold prices in the local bullion market rose by Rs500 per tola to reach Rs144,500, while the price of …

ISLAMABAD, Jul 20 (ABC): Pakistan and Afghanistan have agreed on multiple measures to ensure early clearance and free movement of bilateral trade traffic, improve efficiency in goods clearance and launch luxury bus services between the two countries by end of next month. The bilateral trade relations were discussed between the authorities of the two countries during the visit of a …

ISLAMABAD, Jul 20 (ABC): Bulgaria and Pakistan on Wednesday agreed to enhance cooperation in the field of education, professional training and culture. It was agreed during a called on meeting held here between Ambassador of Bulgaria to Pakistan Ms. Irena Gancheva and Rana Tanveer Hussain, Federal Minister for Education, Professional Training, Rana Tanveer Hussain. Senior officials of the ministry including …

NEW YORK, 13 July(ABC):Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about further China Covid-19 restrictions and the slowdown …

WEB DESK, July 13(ABC): Airlift — the Lahore-based online shopping delivery firm — has decided to “permanently” shut down its operations amid a global recession. The company announced the decision via a press release on Tuesday. “While the global recession and recent downturn in capital markets has affected economic activity across the board, it has had a devastating impact on …

BEIJING, July 20(ABC): Pakistan Ambassador to China, Moinul Haque has invited the Chinese technology enterprises to come and visit Pakistan and explore the country for their future businesses and investment and asked them to take advantage of incentives being offered by the government. “We are promoting establishment of Chinese industries, manufacturing units in special economic and technologies zones and facilitating …

PARIS, July 20(ABC): The French government on Tuesday outlined its plans to take full control of EDF, the highly indebted power utility that is to spearhead efforts to relaunch the country’s nuclear industry. The offer to minority shareholders will be priced at 12 euros per share, meaning the operation to fully nationalise the group will cost 9.7 billion euros ($9.9 …

ISLAMABAD, July 20(ABC): Ambassador of Norway to Pakistan, Per Albert Ilsaas here on Tuesday said that Pakistan and Norway were enjoying excellent relations, which needed to be further promoted, especially on economic fronts. The ambassador was talking to Federal Minister for Finance and Revenue, Miftah Ismail during a call on meeting, according to press statement issued by finance ministry. The …

LONDON, July 12(ABC): The euro sank to within a whisker of parity with the dollar on Tuesday and stock markets fell as the prospect of further central bank tightening and worries about the health of economies worldwide unnerved investors. The dollar s role as the safe-haven go-to currency for investors worried about the economic outlook has been burnished in recent weeks, …

WEB DESK, July 20(ABC): Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel by 0340 GMT, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 …