By Kashif Rizwan March 22, 2023Islamabad(Special Report) In a major breakthrough, Russia has expressed willingness for political settlement of the Ukraine issue, telling that Moscow is open to talks for peace and welcomes China to play a constructive role in this regard.This is what Russian President Vladimir Putin indicated while welcoming China’s President Xi Jinping at the Kremlin on his arrival in Moscow.“Russia appreciates China for consistently upholding an impartial, objective, and balanced position and standing for fairness and justice on major international issues,” Vladimir Putin said, adding that the two sides had an in-depth exchange of views on the Ukraine issue. He said, “Russian welcomes China’s willingness to p...
March 22, 2023 at 11:36 am | Economic Affairs
March21 (Agencies) Minister for Foreign Affairs Bilawal Bhutto Zardari yesterday extended felicitations on the signing of the Joint Trilateral Statement by Iran, Saudi Arabia and China in Beijing. Bilawal, in a telephonic conversation with Foreign Minister Hossein Amir Abdollahian of Iran, termed the resumption of diplomatic relations between Saudi Arabia and Iran as a testament to the wisdom. The Foreign Minister also commended the important role played by China in facilitating this process. The Minister was of the view that the renewal of diplomatic ties between the two brotherly countries would serve as a harbinger for peace.
March 22, 2023 at 9:19 am | Economic Affairs
March21(Agencies) President Xi Jinping and Russian President Vladimir Putin on Tuesday thoroughly deliberated China’s peace plan for Ukraine, besides promising to further strengthen ties. Xi is in Russia where was greeted by the Kremlin Commandant at the alighting point.Both the Presidents exchanged views on China-Russia relations and issues of mutual interest. Putin conveyed to his counterpart that Russia was ready to help Chinese businesses replace Western firms that have left Russia over the war in Ukraine. He also informed that he had discussed the proposed Power of Siberia 2 pipeline with the Chinese leader. Xi said that he wanted to strengthen coordination and cooperation with his country.President Xi Jinping stressed that si...
March 22, 2023 at 8:44 am | Economic Affairs
March 21 (Agencies) Minister for Foreign Minister Bilawal Bhutto Zardari on Tuesday congratulated Saudi Foreign Minister on recent normalization of relations between Saudi Arabia and Iran. In a telephonic conversation with His Highness Prince Faisal bin Farhan Al Saud, Foreign Minister of KSA, Minister for Foreign Minister Bilawal Bhutto Zardari this agreement will pave the way for initiation of meaningful dialogue for peace, security, trade and development in the entire region. Both the leaders underscored the vital role of high-level exchanges for cementing ties between the two countries.
March 22, 2023 at 8:44 am | Economic Affairs
March, 21(Agencies)--Hong Kong stocks at closed Tuesday with healthy gains, clawing back some of the previous day’s rout, as concerns over the banking sector eased and traders awaited the Federal Reserve’s latest interest rate decision.The Hang Seng Index jumped 1.36 percent, or 258.05 points, to 19,258.76.The Shanghai Composite Index rose 0.64 percent, or 20.74 points, to 3,255.65, while the Shenzhen Composite Index on China’s second exchange climbed 1.57 percent, or 32.33 points, to 2,085.98.
March 21, 2023 at 2:46 pm | Economic Affairs
March, 21(Agencies) --US Dollar pinned near a five-week low besides regaining some ground on Tuesday as traders tiptoed back into riskier assets after UBS’ state-backed takeover of Credit Suisse allayed some fears of a widespread, systemic banking crisis.Market sentiment remained fragile, however, investors struggled to determine the scale of the ramifications from a sector hit that began with Silicon Valley Bank’s collapse, putting a cap on risk appetite and giving some support to the safe haven dollar.Sterling rose 0.02% to $1.2280, while the euro steadied at $1.0722.The Aussie fell 0.22% to $0.6703. News of UBS’ planned takeover of rival Credit Suisse on Sunday - a shotgun merger engineered by Swiss authorities - gave way to a sma...
March 21, 2023 at 12:43 pm | Economic Affairs
March, 21(Agencies) --Asian stocks were picked up from lows on Tuesday, with the fragile mood and stress in markets following rescue of Credit Suisse stemming selling in bank shares,Traders kept in wondering whether US rate hikes might be finished. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5% in early trade. Australian shares bounced 1.3% from Monday’s four-month trough and the Hang Seng opened 0.7% higher.Japanese markets were closed for a holiday, though Chicago-traded Nikkei futures were in the green. Overnight an early selloff in Europe was reversed and on Wall Street the S&P 500 rose 0.9%.A holiday in Tokyo left Treasuries untraded in Asia. Central bank meetings in Britain and the United States are sche...
March 21, 2023 at 12:42 pm | Economic Affairs
March20 (Agencies) Commemorating Women’s History Month, US Mission Pakistan Deputy Chief of Mission Andrew Schofer on Monday named midwife Neha Mankani as US Mission Pakistan’s 2023 ‘Woman of Courage’. Women's History Month, an annual declared month, highlights the contributions of women to events in history. Women's History Month was first celebrated in Santa Rosa, California. Mankani, an alumna of the US government-funded Fulbright Program, established the Mama Baby Fund in 2019 to support new mothers. She with her team served pregnant women and babies in need in Sindh Province. She also went to meet internally displaced people camps to provide prenatal care and kits. “Neha exemplifies leadership, courage, and strength...
March 20, 2023 at 7:44 pm | Economic Affairs
March20(Agencies) Minister for Finance Ishaq Dar yesterday expressed the resolve of the present government to deal with the ongoing economic crisis in the country. Minister, in a meeting with Asmaa Resmouki, President International Federation of Accountants (IFAC), stressed the need for high quality corporate reporting based on international standards. Minister also extended felicitations on becoming the first Muslim lady President of IFAC. Resouki became IFAC president in Nov, 2022. Prior to becoming President, she was appointed Deputy President IFAC in Nov 2020 after serving the IFAC board since Nov, 2017. Dar was of the view that high quality corporate reporting would help mobilizing financial resources and help in reducing cor...
March 20, 2023 at 7:40 pm | Economic Affairs
March20 (Agencies) US Ambassador Donald Blome has said that the top priorities of her government is to further promote economic growth in Pakistan, besides enhancing trade and investment between the United States and Pakistan. “The US is Pakistan’s largest export market. We are seeing more and more U.S. investment come to Pakistan. There is still room to grow and entrepreneurs like you are central to that effort,” said US Ambassador Donald Blome, at the concluding ceremony of the Two-Day Expo event with the title“US-Pakistan Innovation Expo”. The expo was organized with the aim to provide a platform for established start-ups to showcase their business ideas and prototypes and network with potential US and Pakistani venture....
March 20, 2023 at 7:05 pm | Economic Affairs
Pakistan Rupee Exchange Rate