China’s Tianjin builds 300 5G base stations
Cheng Wei, general manager of China Mobile?s Tianjin branch said at the 3rd World Intelligence Congress held in the city, that Tianjin would be a key investment destination of China Mobile to develop the 5G industry, and the city will be included in the first batch of Chinese cities to have uninterrupted 5G network coverage.
Saudi Minister sees no oil shortage, but OPEC to act if needed
Jeddah Saudi Arabia?s Energy Minister Khalid al-Falih said that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market?s needs. Speaking in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers, including Saudi Arabia and Russia, Falih ...
PTI won elections, lost to IMF: Patron ICST
Islamabad Pakistan Tehreek-e-Insaf remained successful in the last general elections but failed in dealing with the IMF according to the national interests, a business leader said Sunday. Masses and the economy are paying the price of wrong decisions and inaction of the government while all the critical decisions are being taken by the IMF officials, said Shahid Rasheed Butt. The new ...
Boeing corrected simulator software of 737 MAX jets
New York Boeing Co has made corrections to simulator software that mimics the flying experience of its 737 MAX jets, which were involved in two fatal crashes, and the company has provided additional information to device operators, a spokesman said. The spokesman, Gordon Johndroe, said the changes will ensure that the simulator experience is representative across different flight conditions ...
Services trade deficit shrinks 41.38pc in 3Qs
The services trade deficit during July-March (2018-19) was recorded at US$ 2.532 billion against the deficit of US$ 4.320 billion during July-March (2017-18), showing decline of 41.38 percent, official data revealed. The services? imports into the country during the period under review decreased by 21.81 percent to US$6.479 billion from US$ 8.286 billion last year, according to latest data ...
Reforms in duty, tax proposed
Sialkot Sialkot Chamber of Commerce and Industry (SCCI), in its proposals for federal budget 2019-20, suggested that current mark-up rate on Export Refinance schemes not to be enhanced. Especially, mark-up rate under Export Refinance Schemes should not be enhanced to maintain the competitiveness of the export business, says a press release issued by SCCI. The provincial governments should re-zone areas ...
Rs329m released for Industries projects
Staff Reporter Islamabad The government has so far released an amount of Rs 329.880 million for various projects of the Industries and Production Division under the Public Sector Development Programme (PSDP 2018-19) against the total allocation of Rs769.999 million earmarked for the current fiscal year.
Oil producers meet to discuss output amid Iran tension
Jeddah Major crude producers are set to meet Sunday to discuss how to stabilise a volatile oil market amid rising US-Iran tensions in the Gulf, which threaten to disrupt supply.
Bulls to the rescue after KSE takes a 814-point nosedive
Pakistan?s equities closed on Monday in green, with benchmark KSE 100 Index gaining 84 points (0.3%). An equity analyst at Next Capital said the index started the day downwards, hitting an intra-day low of negative 814 points (-2.45%) during the first half of the trading session amid news reports of Kekra-1, the hyped offshore well, been found dry. E&Ps ...
EU firms ‘caught in crossfire’ of US-China trade war
European firms are ?caught in the crossfire? of the US-China trade war and fewer are optimistic about their future in the world?s second-largest economy, a business survey showed Monday. According to the survey, the trade war is one of the top concerns for European firms in China (23 percent), after the Chinese economic slowdown (45 percent), the global economy ...
There is consensus among OPEC and allied oil producers to drive down crude inventories ‘gently’
Saudi Energy Minister Khalid Al-Falih said on Sunday there was consensus among the Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers to drive down crude inventories ?gently? but he would remain responsive to the needs of a ?fragile market.? United Arab Emirates (UAE) Energy Minister Suhail Al-Mazrouei earlier told reporters that producers were capable of filling any ...
Japanese economy sustains growth in first quarter
Japan?s economy grew at an annual pace of 2.1 percent in the first quarter, marking the second straight quarter of expansion, according to government data released Monday. The Cabinet Office said seasonally adjusted real gross domestic product, the total value of a nation?s goods and services, grew 0.5 percent in the January-March period from the previous quarter. ?Extra holidays ...
Oil import bill soars to $11.9 billion in ten months
ISLAMABAD? -??? Pakistan?s oil import bill has gone up by 4 percent to $11.9 billion during ten months (July to April) of the current fiscal year. The country?s oil import bill was recorded at $11.9 billion in July to April period of the year 2018-19 as compared to $11.4 billion in the corresponding period of the previous year, showing ...
Govt taking all possible measures to facilitate investors: Dawood
ISLAMABAD? -??? While welcoming the Bulgarian delegation, Advisor to the Prime Minister on Commerce Abdul Razak Dawood said that current government is taking all the possible measures to facilitate investors in various sectors of economy to attract more investments in the country. ?Government is fully committed to introduce more business friendly reforms in the country to attract more investments? ...
Govt planning to establish Ground Water Regulatory Authority
All the preparations regarding monsoon flood protection have been completed and the final meeting to review the flood protection plan will be held in June, said Chairman Federal Flood Commission Ahmad Kamal while briefing the National Assembly Standing Committee on Water Resources. The Committee on water resource was informed that annually around 200 million tons of silt is accumulating ...
Dollar reaches Rs151 in open market
KARACHI/ISLAMABAD : The US dollar reached a new record high of Rs151 in the open market on Monday morning, as the rupee continued its downward spiral following an agreement with the International Monetary Fund. The exchange rate of dollar in interbank soared by Rs1.78 and was traded at Rs 149.65 as compared to the last closing at Rs147.87, State ...
RCCI flays hike in interest rate
RAWALPINDI : The Rawalpindi Chamber of Commerce and Industry (RCCI) has shown strong reservations over increasing interest rate by 150 basis points to 12.25 percent and urged the government to withdraw this hike as it would increase the credit cost of commercial banks, ultimately badly affect the growth of industrial activities and create more difficulties for the small and ...
ICCI concerned over rising external debt, liabilities
ISLAMABAD?? -??? Ahmed Hassan Moughal, ICCI president, Rafat Farid, senior vice president, and Iftikhar Anwar Sethi, vice president, have expressed great concerns over the rising external debt and liabilities of the country that have surpassed $105 billion by the end of March 2019 and called upon the government to take urgent measures to cope with this serious issue as ...
PFMA delegation calls on CS
He said that wheat procurement target would be achieved in any case, adding that the flour mills could purchase wheat from market at the support price.
German Group reps call on Punjab industries minister
LAHORE? -? Representatives of a German Group ALBA called on Minister for Industry and Trade Mian Aslam Iqbal at Civil Secretariat on Monday and discussed electricity generation from garbage.
