AgenciesHONG KONG, Nov. 23–US Dollar hit a new four-and-a-half-year top against the yen on Tuesday after Federal Reserve Chair Jerome Powell was renominated for a second term, reinforcing bets that US interest rates would rise next year and diverge from Japan's.The greenback rose as much as 0.24% to 115.13 yen, its highest since March 2017, having jumped 0.77% on Monday."We expect the weak JPY narrative to continue finding support amid attention to monetary policy divergence," Barclays analysts said in a note.They said 115.5, the dollar's March 2017 high, would be one key level to watch, when it came to dollar gains, and, "above that, we caution that there is no clear resistance until 118.7 (the end-2016 high)."The Japanese currency is s...
November 23, 2021 at 2:02 pm | Economic Affairs
November 22,2021Islamabad Press ( EA Report) A delegation of Lahore Chamber of Commerce and Industry calls on the President Arif Alvi here on Monday at at Aiwan-e-Sadr. Members of the delegation discussed economic environment of the country and give some suggestions to help improve the business conditions. The delegation on the behalf of the trade industry and business community expressed full confidence on the economic policies of the government. The appreciated the reform agenda of the government. President Arif Alvi thanked and told that government is fully committed to provide conducive business environment for the economic growth of the country. President Arif Alvi also told the positive impact of the Ease of the Doing Business initia...
November 22, 2021 at 11:25 pm | Economic Affairs
November 22,2021ISLAMABAD(EA Report)President Dr Arif Alvi on Monday said Pakistan offered business-friendly policies for foreign investors particularly in agriculture, information technology, telecommunication, energy, and tourism sectors.The president expressed these views while talking to the ambassadors-designate of Japan, Norway, Poland, and the non-resident ambassador-designate of Cambodia, who separately called on him, at the Aiwan-e-Sadr.Earlier, the ambassadors-designate Mitsuhiro Wada (Japan), Per Albert Ilsaas (Norway), Maciej Pisarski (Poland) and the non-resident ambassador-designate of the Cambodia Ung Sean presented their credentials to President Dr Arif Alvi at a ceremony. The president congratulated the newly-appoin...
November 22, 2021 at 10:46 pm | Economic Affairs
November 22,2021ISPR(Press Release)A delegation led by Mr Gregory Weldon Meeks, Chairman House Foreign Affairs Committee (HFAC), USA and Mr Amerish Babulal Bera, Members HFAC (Chairman of the Subcommittee on Asia Pacific, Central Asia and Non-proliferation) called on General Qamar Javed Bajwa, Chief of Army Staff (COAS), today.During the meetings, matters of mutual interest, current security situation in Afghanistan and bilateral cooperation in various fields were discussed. COAS said that Pakistan desires to maintain the tradition of bilateral engagement with all the regional players and wish for enduring peace in the region. COAS reiterated the need for global convergence on Afghanistan for avoiding humanitarian crisis and coordinated ef...
November 22, 2021 at 10:23 pm | Economic Affairs
November 22,2021Islamabad(Press Release)Foreign Secretary(FS)Sohail Mahmood received Cambodia’s non-resident ambassador Ung Sean on Monday at the Ministry of Foreign Affairs (MOFA). Extending best wishes, FS hoped that during his term Pakistan-Cambodia bilateral relations would be further strengthened in all dimensions. He also expressed resolve to deepen cooperation with ASEAN under Cambodian Chair.
November 22, 2021 at 10:20 pm | Economic Affairs
November 22, 2021Islamabad (Press Release) Speaker National Assembly Asad Qaiser has stressed for collective international efforts to address the impending humanitarian crisis in Afghanistan. The Speaker said that the situation in Afghanistan warrant immediate steps otherwise the ultimate suffer would be the marginalized Afghan population. He expressed these views while talking to the United States Congressmen Mr. Gregory Meeks and Mr. Ami Bera who called on the Speaker in Parliament House, this morning.Speaker Asad Qaiser said that the International community should immediately step forward and address the looming humanitarian crisis in Afghanistan. He said that in case of delay in that regard, the ultimate sufferers would be the old aged...
November 22, 2021 at 6:06 pm | Economic Affairs
November 22, 2021Islamabad( Press Release)Commander, Qatari Emiri Naval Forces, Major General Abdullah Bin Hassan Al-Sulaiti called on Air Chief Marshal Zaheer Ahmed Baber Sidhu, Chief of the Air Staff, Pakistan Air Force in his office today. During the meeting, both the dignitaries discussed matters of professional and mutual interest.Major General Abdullah Bin Hassan Al-Sulaiti commended the professionalism of PAF and acknowledged its rising indigenous capacity in aviation industry. The Air Chief said that Pakistan and Qatar enjoy longstanding religious, cultural and historical bonds which are manifested through strong ties between both air forces. The Air Chief reiterated his resolve to further enhance the existing bilateral cooperation...
November 22, 2021 at 5:51 pm | Economic Affairs
EA ReportLAHORE, Nov. 19— All Pakistan Textile Mills Association (APTMA) has rejected sudden hike in gas prices from $6.5/MMBTU to $9/MMBTU for Export Oriented Units.Addressing a hurriedly-called press conference here at APTMA House, the leadship remarked that Punjab was being rapped and penalized through abnormal increase in gas tariff rendering it in competing against other provinces, adding that a wide gulf between the gas prices of Punjab and rest of the country would lead to national disharmony and jeopardise the sustainability of textile business in Punjab.Chairman APTMA, Abdul Rahim Nasir marked upward revision in gas tariff a sheer contradiction of the commitment of federal government for continuous supply of gas/RLNG on $6.5/MMB...
November 19, 2021 at 9:20 pm | Economic Affairs
November 19,2021Islamabad (Press Release)Ambassador of Kingdom of Saudi Arabia Nawaf bin Said Al-Malki called on Speaker National Assembly Asad Qaiser in Islamabad, today. Bilateral relations and issues of mutual interest were discussed during the meeting.Speaker Asad Qaiser said that Pakistan and Saudi Arabia enjoyed strong fraternal ties firmly rooted in shared faith, culture, traditions and mutual goodwill. He said that the people and Government of Pakistan have deep respect for Custodian of the Two Holy Mosques and the Saudi Leadership. He added that Pakistan wanted to strengthen the bilateral relations through enhanced cooperation in social and economic sectors between two brotherly countries. Commending the role of Kingdom as a leade...
November 19, 2021 at 7:10 pm | Economic Affairs
November 19,2021Rawalpindi(Press Release)Ms Fawzia Bint Abdullah Zainal, Speaker of the Council of Representatives of Kingdom of Bahrain, called on General Qamar Javed Bajwa, Chief of Army Staff (COAS), today. During the meeting, matters of mutual interest, current security situation in Afghanistan and bilateral cooperation in various fields were discussed. COAS said that Pakistan desires to maintain the tradition of bilateral engagement and wish for long term & enduring relationship with Bahrain. COAS also reiterated the need for global convergence on Afghanistan to avoid humanitarian crisis and coordinated efforts for economic uplift of the Afghan people. The visiting dignitary appreciated Pakistan’s role in Afghan situation, speci...
November 19, 2021 at 7:10 pm | Economic Affairs
Pakistan Rupee Exchange Rate