AgenciesNov. 04— Gold prices bounced back from a three-week low on Thursday as the dollar weakened after the US Federal Reserve approved plans to unwind its stimulus programme this month while retaining low interest rates for some time.Spot gold was up 0.3% at $1,774.11 per ounce, as of 0106 GMT, after touching its lowest since Oct. 13 in the previous session.The dollar index slipped 0.2% overnight and was trading little changed at 93.847 in early Asia trading.The Fed said it would start trimming its monthly bond purchases in November with plans to end them in 2022, and held to its belief that high inflation would prove "transitory" and likely not require a fast rise in interest rates.Gold, which pays no interest, tends to benefit when i...
November 4, 2021 at 2:43 pm | Economic Affairs
AgenciesCANBERRA, Nov. 04— US wheat futures rose on Thursday, hovered near nine-year highs touched earlier this week on concerns about global supplies amid robust demand.The most active wheat futures on the Chicago Board Of Trade were up 0.6% at $7.86 a bushel as of 0319 GMT, having closed 1.3% lower on Wednesday.Wheat hit a December 2012 high of $8.07 a bushel on Tuesday."The fundamentals remain very sound. There are question marks about Black Sea and South America production and that means stronger prices," said Phin Ziebell, agribusiness economist at National Australia Bank.Corn edged higher, drawing support from wheat, while soybeans edged lower.Most of the sprouted Ukrainian winter grain crop is in good or satisfactory condition, wh...
November 4, 2021 at 2:41 pm | Economic Affairs
November 1,2021Islamabad (Press Release)Foreign Secretary Sohail Mahmood received Special Representative of Australia on Afghanistan, Mr. Daniel Sloper, today.During the meeting, the Foreign Secretary shared Pakistan’s perspective on the latest developments in Afghanistan and the way forward.Foreign Secretary Sohail Mahmood highlighting that the latest situation provided an opportunity to end the 40-year long conflict in Afghanistan, underscored the importance of international community’s sustained engagement to help promote the shared objectives of a peaceful, stable, sovereign and prosperous Afghanistan. While noting that it was encouraging to see the international community constructively engaging with Afghanistan, he also cautioned...
November 1, 2021 at 11:51 pm | Economic Affairs
November 1,2021Vienna(Press Release)Pakistan highlights it’s success story about safety and security standards in the field of radioactive waste managementPakistan organized an event on the sidelines of the International Conference on Radioactive Waste Management which opened at the headquarters of the International Atomic Energy Agency (IAEA) in Vienna today.Pakistan’s Permanent Representative to the UN Organizations is Vienna Ambassador Aftab Ahmad Khokher made opening remarks at the event. He said that safe and secure management of the radioactive waste was of fundamental importance to ensure that our societies continued to benefit from the peaceful uses of atomic radiation while being protected from its harmful aspects. He stated t...
November 1, 2021 at 11:49 pm | Economic Affairs
ISLAMABAD, Oct 31 (APP): Prime Minister Imran Khan said that owing to their complementarities in the socioeconomic fundamentals, Saudi Arabia’s Vision 2030 provided opportunities to Pakistan to engage with Saudi Arabia in realizing Naya Pakistan’s ambitious plan. “I must say that there are significant complementarities in the socio-economic fundamentals of the “Naya Pakistan” and the Saudi Vision 2030. Both lay emphasis on economic opportunity and diversity, domestic growth, modernization and development, and trade linkages and connectivity,” the prime minister said in an interview with Saudi Arabia’s Al-Riyadh newspaper published Sunday. The prime minister said Pakistan could contribute manpower; both skilled and...
November 1, 2021 at 12:48 pm | Economic Affairs
PESHAWAR, Oct 31 (APP): Speaker National Assembly Asad Qaiser Sunday said that Pakistan is playing a crucial role in the establishment of durable peace in Afghanistan and urged the world community to promote cooperation with it in all sectors including trade. Addressing a public meeting at Marghuz, district Swabi, the Speaker National Assembly said that the restoration of peace in Afghanistan will usher progress and development in the whole region. He said that our businessmen will get access to the market of Central Asian States and help promote business activities. Besides, CM Mahmood Khan, Federal Minister, Murad Saeed, Provincial Ministers Shahram Khan Tarakai, Taimur Saleem Jhagra and MPA Aqibullah were also present on the oc...
November 1, 2021 at 12:47 pm | Economic Affairs
ISLAMABAD, Oct 31 (APP): Prime Minister Imran Khan said that owing to their complementarities in the socioeconomic fundamentals, Saudi Arabia’s Vision 2030 provided opportunities to Pakistan to engage with Saudi Arabia in realizing Naya Pakistan’s ambitious plan. “I must say that there are significant complementarities in the socio-economic fundamentals of the “Naya Pakistan” and the Saudi Vision 2030. Both lay emphasis on economic opportunity and diversity, domestic growth, modernization and development, and trade linkages and connectivity,” the prime minister said in an interview with Saudi Arabia’s Al-Riyadh newspaper published Sunday. The prime minister said Pakistan could contribute manpower; both skilled and...
November 1, 2021 at 12:46 pm | Economic Affairs
ISLAMABAD, Oct 31 (APP): Vietnam Ambassador to Pakistan, Nguyen Tien Phong on Sunday said that Pakistan has huge trade and investment opportunities in Association of South East Asian Nations (ASEAN’s) US$ 3 trillion economy for increasing the bilateral trade and economic ties. With ASEAN’s US$ 3 trillion economic power and a large market of 650 million people in the region, the mutual US$7 billion trade between ASEAN and Pakistan is far below its potential, the Ambassador said this while addressing to the Pakistan ASEAN Business Forum, organized by United Business Group (UBG) of Federation Pakistan Chamber of Commerce and Industry (FPCCI) here. Ambassador said that Pakistan is a huge market with a Gross Domestic Product (...
November 1, 2021 at 12:43 pm | Economic Affairs
October 29, 2021Dhaka(Press Release)High Commission for Pakistan, Dhaka organized an event today to observe “Kashmir Black Day.” Members of Pakistani diaspora, academics, and local journalists participated in the event.Messages of the President, Prime Minister and Minister for Foreign Affairs of Pakistan were read out on the occasion.In their messages, President of Pakistan Mr. Arif Alvi and Prime Minister of Pakistan Mr. Imran Khan paid tributes to brave Kashmiri people for their resolute struggle against India’s illegal occupation and atrocities.In his message, Foreign Minister Makhdoom Shah Mahmood Qureshi expressed solidarity with the people of IIOJK and reaffirmed Pakistan’s abiding commitment to the Kashmir cause until the re...
October 29, 2021 at 10:59 pm | Economic Affairs
October 29,2021Islamabad ( Press Release) Federal Ministers for the Commerce Abdul Razaq Daud has said that the Second Pakistan Africa Trade Development Conference (PATDC) will be held at Lagos in Nigeria from 23 to 25 November 2021, along with a Single Country Exhibition. In an statement it is stated that this is the follow-up to the First PATDC held in Kenya in 2020. More than 100 companies from Pakistan are participating in the event. Ministry of Commerce (MOC) is committed to geographic and product diversification of exports.
October 29, 2021 at 12:27 pm | Economic Affairs
Pakistan Rupee Exchange Rate