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AgenciesOct. 26 — Gold prices eased on Tuesday, weighed down by an uptick in the dollar and US bond yields, as investors assessed central banks' likely response to higher inflation ahead of key upcoming policy meetings.Spot gold fell 0.2% to $1,803.51 per ounce by 0329 GMT. US gold futures dropped 0.1% to $1,805.30.The metal rose nearly 1% to a high of $1,809.66 on Monday, only about $4 shy of an over one-month peak scaled last week.The dollar rose 0.1% on Tuesday, recovering from a near one-month trough hit during the previous session, souring gold's appeal to buyers holding other currencies.Benchmark 10-year US Treasury yields were also a tad higher at 1.6369%, raising non-interest bearing gold's opportunity cost."Gold should remain re...

October 26, 2021 at 11:09 am | Economic Affairs

AgenciesHONG KONG, Oct. 26 — Fresh records on Wall Street moved mostly Asian markets up on Tuesday following healthy corporate earnings overshadowing ongoing concerns about inflation, while progress in Washington on Joe Biden's big-spending economic plans also provided support.Tokyo led gains, piling on 1.8 percent in the morning while Shanghai, Sydney, Seoul, Wellington, Taipei, Manila and Jakarta also rose.However, a fresh virus outbreak in China, which has left tens of thousands of people in lockdown, revived concerns about the world's number two economy and authorities' zero-Covid policies.The S&P 500 and Dow both ended at new peaks, with tech firms lifted by a surge in electric car maker Tesla to the trillion-dollar mark ahead o...

October 26, 2021 at 11:07 am | Economic Affairs

AgenciesOct. 26 — US dollar has bounced off recent lows and was firm in choppy trade on Tuesday ahead of a handful of data releases and central bank meetings which investors expect to guide the rates outlook.The euro fell 0.3% overnight on softer-than-forecast German business morale and expectations that the European Central Bank (ECB) will stay dovish when it meets on Thursday whereas, euro last bought $1.1598, near a one-week low.Other overnight moves were modest, with the dollar easing a tad on the Aussie, kiwi and sterling. It was steady on Tuesday save for a small rise on Japan’s yen to 113.83 yen, and a slight dip on the Aussie.The U.S. dollar index rose held at 93.856.“The dollar looks to be finding its feet in the mid-93s,”...

October 26, 2021 at 11:06 am | Economic Affairs

October 25,2021Riyadh(Press Release) Prime Minister Imran Khan met with His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud on the sidelines of the “Middle East Green Initiative” (MGI) Summit in Riyadh today. The Prime Minister paid tribute to the leadership of the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz, in the progress and development of the Kingdom. He lauded His Royal Highness Crown Prince Mohammed bin Salman for the Saudi Vision 2030, which aimed at transforming the socio-economic development of the Kingdom in the 21st century. The Prime Minister warmly congratulated the Crown Prince on successfully organizing the Middle East Green Initiative (MGI) Summit on Climate Chan...

October 26, 2021 at 12:10 am | Economic Affairs

October 25,2021Riaz( Press Release)Prime Minister Imran Khan meets the Crown Prince and Prime Minister of BahrainPrime Minister Imran khan had a meeting with the Prime Mininter of the Kingdom of Bahrain, His Royal Highness Prince Salman Bin Hamad bin Isa al Khalifa today in Riyadh on the side-lines of the “Middle East Green Initiative” Summit.The two Prime Ministers expressed satisfaction at the close cooperation between the two fraternal countries in diverse fields. They discussed a range of issues of bilateral importance and also exchanged views on the latest developments in Afghanistan.Prime Minister Imran Khan underlined that Pakistan and Bahrain have historic and deep-rooted fraternal ties. Recalling his visit to Bahrain in Decemb...

October 25, 2021 at 8:50 pm | Economic Affairs

By HE Shujjat Ali Rathore Spain and Pakistan have a history of warm and cordial relations marked by shared perceptions on a broad range of regional and international issues. At present, more than 100,000 members of the Pakistani diaspora reside in Spain. This, coupled with the vast political, trade and tourism ties, makes Spain one of Pakistan's oldest and increasingly important partners. The year 2021 marks the 70th anniversary of the establishment of diplomatic relations between the Kingdom of Spain and the Islamic Republic of Pakistan. Most recently, we commemorated this through a musical performance “Soniche´” (fusion of jazz, flamenco and Pakistani music) that was organized in August 2021 in collaboration with Casa Asia (Sp...

October 25, 2021 at 8:47 pm | Economic Affairs

October 25,2021Islamabad( Press Release)Satrang Gallery is delighted to present “Life in a play”, a two-person exhibition of Minaa Mohsin and Farazeh Syed.These two brilliant painters have each created vibrant scenes for audiences and viewers to sink into. These vignettes or slices of life are like the moving parts of a play, at times absurd, at others dramatic, sometimes contradictory, coming together to create a complete journey.The title of the exhibition references Shakespeare’s often quoted comparison of the stages of life to the acts of a play. These artists choose to depict the female form within these scenes, either directly or through representation, in order to highlight female dynamism – passion, creativity, assertivenes...

October 25, 2021 at 8:44 pm | Economic Affairs

October 25,2021Dhaka(Press Release)High Commissioner for Pakistan, Mr. Imran Ahmed Siddiqui called on Hon. Prime Minister of Bangladesh, Sheikh Hasina earlier today. This was his second meeting with Hon. Prime Minister Hasina since his arrival last year.The High Commissioner conveyed Prime Minister Imran Khan’s message of goodwill and friendship to Hon. Prime Minister Sheikh Hasina and the people of Bangladesh. Prime Minister Hasina reciprocated her good wishes for the leadership and people of Pakistan. The High Commissioner thanked Hon. Prime Minister for her support in implementing his diplomatic mandate in Bangladesh. The two sides agreed to further promote bilateral relations between the two countries. The High Commissioner presented...

October 25, 2021 at 8:37 pm | Economic Affairs

October 25, 2021Rawalpindi(ISPR)H.E Ms Wendy Gilmour, Canadian High Commissioner to Pakistan called on General Qamar Javed Bajwa , Chief of Army Staff (COAS) at GHQ, today.During the meeting matters of mutual interest, bilateral cooperation in various fields, overall regional situation and peace & stability in the Afghanistan were discussed. COAS said that Pakistan desires to maintain the tradition of bilateral engagement and wish for long term & multi-domain enduring relationship with Canada. COAS reiterated that there is a need for global convergence on Afghanistan to avoid humanitarian crisis together with coordinated efforts for economic uplift of the Afghan people.The visiting dignitary appreciated Pakistan’s role in Afghan ...

October 25, 2021 at 6:52 pm | Economic Affairs

AgenciesSINGAPORE, Oct. Oct25 — US oil may test a resistance at $84.94 per barrel, a break above could lead to a gain into the $85.66-$86.64 range.The Oct. 20 high of $84.25 has been surpassed.The uptrend from the August 23 low of $61.74 has thus been confirmed.The trend is presumed to be riding on a wave 3 from $79.42, which could extend to $86.64.This wave makes a part of a bigger wave (5), which may extend a lot, if the current wave count turns out to be correct.However, the unusual consolidation from the Oct. 20 high of $84.25, which was shaped into an expanding wedge, undermines this wave count.Support is at $83.88, a break below which could cause a fall into $81.12-$83.03 range. On the daily chart, oil has broken a resistance at $8...

October 25, 2021 at 6:00 pm | Economic Affairs