September 22,2021Islamabad (ISPR)Trilateral Exercise Three Brothers - 2021 culminated at Baku, Azerbaijan. Special forces of Pakistan, Turkey and Azerbaijan participated in the exercise.The two weeks long exercise was focused on the capability to counter regional terrorism threats in a hybrid scenario, fostering combined force interoperability, joint force integration and enhance capabilities in amphibious operations.The chief guest of final exercise was Azerbaijan Minister of Defence Zakir Hasanov. Also in attendance were Services Chief of Azerbaijan, Commander of Special Forces Azerbaijan, GeneralHikmat Mirzayev along with observers from Kazakhstan and Major General Mumtaz Hussain From Pakistan. The august gathering witnessed final phase...
September 22, 2021 at 5:43 pm | Economic Affairs
October 22,2021Islamabad (Press Release) Chairman Pakistan Atomic Energy Commission Mr. Muhammad Naeem, who is leading Pakistan’s delegation to the 65th General Conference of the International Atomic Energy Agency (IAEA), met Director General IAEA Rafael Mariano Grossi, today. Pakistan’s Permanent Representative to International Organizations in Vienna,Ambassador Aftab Ahmad Khokher, also participated in the meeting. Chairman PAEC and Director General Grossi reviewed the ongoing collaboration between Pakistan and the IAEA. Director General Grossi said that “impeccable collaboration between Pakistan and the Agency will continue to grow”. Chairman PAEC apprised the Director General about Pakistan’s recent accomplishments i...
September 22, 2021 at 5:40 pm | Economic Affairs
22 September 2021: Islamabad (Press Release) The Advisor to PM on Commerce and Investment, Abdul Razak Dawood, met the Ambassador of Japan to Pakistan, H.E. Mr Kuninori Matsuda. In the meeting, matters relating to bilateral cooperation and the organisation of economic forums were discussed. The possibilities of assistance by Japan for up-gradation of the focus areas of infrastructure and facilities for various sectors like fisheries, salt and food processing also came under discussion.During the meeting, the Ambassador informed that Toyota Corporation of Japan would invest about USD 100 million in producing and exporting hybrid vehicles from Pakistan. He also invited the Advisor to visit Japan which he accepted.Mr. Dawood said, ‘’Pakis...
September 22, 2021 at 5:38 pm | Economic Affairs
Gold prices inches up ahead of US Federal Reserve's policy signals later Wednesday on reducing stimulus.Spot gold climb to $1,777.68 per ounce by 0356 GMT, while US gold futures recotded flat at $1,778.00.Gold could get some relief for the near term however the downtrend for the month would hold In the absence of an official taper signal, DailyFX currency strategist Ilya Spivak said.Spot gold may retest support at $1,744. Fed's two-day meet is due to conclude on Wednesday as investors focus on any new signals on when a taper may begin.US central bank is also likely to provide an outlook on interest rate hikes from the current near zero level.Wednesday's statement will also offer Fed's rate projections for 2024 for the first time. "If it lo...
September 22, 2021 at 2:46 pm | Economic Affairs
TOKYO: The dollar held below a near one-month high Wednesday following investors focus default by Chinese property developer Evergrande and the expected pace of US monetary policy tightening.Dollar index stood at 93.226 in early Asian trade, staying not far off Monday's one-month high of 93.455.The euro changed hands at $1.1725, having stabilised at a one-month low of $1.1700 on Monday.The common currency dropped to a seven-month low of 127.93 yen, as the safe-haven Japanese currency was supported by the cautious mood.The dollar traded at 109.165 yen, near the low end of its trading range since mid-August.The Bank of Japan is expected to keep its policy on hold later in the day."Due to worries about Evergrande, the market is still in risk...
September 22, 2021 at 2:44 pm | Economic Affairs
TOKYO: The dollar held below a near one-month high Wednesday following investors focus default by Chinese property developer Evergrande and the expected pace of US monetary policy tightening.Dollar index stood at 93.226 in early Asian trade, staying not far off Monday's one-month high of 93.455.The euro changed hands at $1.1725, having stabilised at a one-month low of $1.1700 on Monday.The common currency dropped to a seven-month low of 127.93 yen, as the safe-haven Japanese currency was supported by the cautious mood.The dollar traded at 109.165 yen, near the low end of its trading range since mid-August.The Bank of Japan is expected to keep its policy on hold later in the day."Due to worries about Evergrande, the market is still in risk-...
September 22, 2021 at 2:42 pm | Economic Affairs
TOKYO: The dollar held below a near one-month high Wednesday following investors focus default by Chinese property developer Evergrande and the expected pace of US monetary policy tightening.Dollar index stood at 93.226 in early Asian trade, staying not far off Monday's one-month high of 93.455.The euro changed hands at $1.1725, having stabilised at a one-month low of $1.1700 on Monday.The common currency dropped to a seven-month low of 127.93 yen, as the safe-haven Japanese currency was supported by the cautious mood.The dollar traded at 109.165 yen, near the low end of its trading range since mid-August.The Bank of Japan is expected to keep its policy on hold later in the day."Due to worries about Evergrande, the market is still in risk-...
September 22, 2021 at 2:41 pm | Economic Affairs
September 22,2021Islamabad (Press Release) Samsung Electronics is in the process of establishing their TV line-up plant in collaboration with the R&R Industries at Karachi, learnt from the Commerce Ministry. It will become functional in Q4 of 2021 and is expected to produce 50,000 units annually. This is a vindication of MOC’s "Make-in-Pakistan" policy for industrialisation via rationalisation of input costs and other incentives
September 22, 2021 at 2:28 pm | Economic Affairs
HONG KONG: 22 Sept—Asian investors trod carefully on Wednesday but nerves appeared to be settled by news that troubled Chinese property giant Evergrande had agreed a plan to repay interest on one of its key bonds, for now avoiding a default that many fear could hammer the domestic and global economy.However, confidence remains at a premium as traders await a crucial meeting of the Federal Reserve, where it could announce a timetable to start tapering its vast monetary easing programme.That comes against the ever-present backdrop of spiking coronavirus infections and slowing global growth, as well as a brewing battle over the US debt ceiling that, if not resolved, could see a default in the world's top economy, potentially sparking anothe...
September 22, 2021 at 2:25 pm | Economic Affairs
September 22,2021Ottawa (Press Release) Speakers at a webinar in Canada have advised the international community to remain engaged with the Taliban to avert a humanitarian crisis and preserve investments of international community for the rights of women, children, education, and healthcare in Afghanistan.Instead of abandoning Afghanistan as it did two decades ago, the international community would do well to remain engaged with the Taliban to use its leverage for effecting change in the behaviour of Taliban and ensuring continuation of process for an inclusive government for durable peace and stability in Afghanistan.This was the crux of thoughts and concerns shared by speakers at the webinar arranged by Pakistan High Commission Canada on...
September 22, 2021 at 2:21 pm | Economic Affairs
Pakistan Rupee Exchange Rate