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Author Archives: CT Report

Pakistan-Africa Trade Development Conference to start from Jan 30

ISLAMABAD: Ministry of Commerce is organizing Pakistan-Africa Trade Development Conference under the “Look Africa Policy initiative” from January 30 to 31, which is first of its kind, as over two hundred delegates (officials and businessmen) from twenty African countries, arranged by Pakistan Missions abroad are going to participate in the conference. Pakistan’s trade with Africa has remained stagnant at USD ... Read More »

NAB decides to sign agreement with FBI, NCA for elimination of corruption

ISLAMABAD: National Accountability Bureau (NAB) on Friday has decided to sign agreement with US’s Federal Bureau of Investigation (FBI) and British National Crime Agency (NCA) in a bid to eliminate the menace of corruption. According to sources, a draft, prepared by law ministry, has been dispatched to FBI and NCA. The documents to contact World Bank and Malaysian Anti-Corruption Commission ... Read More »

PSX sheds 54.33 points to close at 42,506.94 points

ISLAMABAD: Pakistan Stock Exchange (PSX) Thursday witnessed bearish trend as KSE-100 index closed at 42,506.94 points as compared to 42,561.27 points on the last working day with the negative change of 54.33 points (0.13 %). A total of 230,827,150 shares were traded compared to the trade 177,984,850 shares during the previous day, whereas the value of shares traded during the ... Read More »

Gold rates down Rs200 per tola

KARACHI: Gold rates in the local market decreased by Rs200 to Rs90,150 per tola on Thursday. Similarly, the rate of 10 grams of yellow metal also registered a drop of Rs170 and traded at Rs77,289. Meanwhile,  Gold prices edged lower in the global market, consolidating near the $1,550 level, ahead of a policy decision by the European Central Bank, although ... Read More »

Global deal over digital tax eludes France, U.S. in Davos talks

DAVOS: France and the United States failed on Wednesday to agree how to push forward a global rewrite of decades-old cross-border tax rules though they agreed to set aside a bilateral row on digital taxation, France’s finance minister said. Governments from nearly 140 countries aim to give their backing to pursue what would be the biggest overhaul of international tax ... Read More »

KPT shipping intelligence report Jan 23

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Thursday. ALONG SIDE (Bulk Oil Pier) OP-II Lahore D. Crude Oil PNSC 22/01/20 ALONG SIDE (East Wharves): 1/2 Clearocean Mariam L. Naptha Alpine 19/01/20 2 Al Mahboobah D. Chemical Wilhelmsen 20/01/20 4 Aramis D. Gen.Cargo Sea Hawks 20/01/20 11/12 Maa ... Read More »

Pakistan-India trade plunges in 1H of FY2019-20

LAHORE: The trade between Pakistan and India continued to suffer, but still mostly skewed in India’s favour in the first half of 2019-20. The latest data issued by the State Bank of Pakistan shows that bilateral trade volume plunged in the first half of this fiscal year. Pakistan’s exports to India during the period came in at an insignificant $16.8 ... Read More »

Stocks gain as FATF expresses satisfaction over Pakistan’s performance

KARACHI: Positive sentiments have been prevailing among investors on Thursday as reflected by the Pakistan Stock Exchange (PSX) after reports emerged that the Financial Action Task Force’s (FATF) Working Group has expressed satisfaction over the country’s performance in measures implemented to curb money laundering and terror financing. The benchmark KSE 100-share Index gained 235.68 points or 0.55 percent, and recovered ... Read More »

Textile exports grow 3.94pc in 1H of FY2020

ISLAMABAD: Pakistan’s textile exports have recorded growth of 3.94 percent in first six months (July to December) of the ongoing financial year (FY20) mainly due to cash support to various sectors and currency depreciation. According to Pakistan Bureau of Statistics (PBS), the country has exported textile commodities worth $6.91 billion in July-December period of FY20 as compared to $6.64 billion ... Read More »

SBP reserves rise to $11.7b

ISLAMABAD: Foreign exchange reserves held by the State Bank of Pakistan (SBP), during the week ending January 17, increased by $146 million to $11.73 billion. According to the data released by the central bank, the total liquid foreign reserves held by the country stood at $18,271 million on 17th of this month. The break-up of the foreign reserves position is ... Read More »

Transparency International praises anti-corruption efforts of NAB

ISLAMABAD: Transparency International (TI) has praised the anti-graft efforts of the National Accountability Bureau (NAB) under the chairmanship of Javed Iqbal, said a report released by the Berlin-based non-governmental organisation (NGO) on Thursday. The report released today highlighted the 2019’s performance of the global countries against corruption. TI appreciated Javed Iqbal over best performance showed by NAB combined investigation team ... Read More »

Asad Umar directs speedy implementation of KCR

KARACHI: Minister for Planning, Development and Special Initiatives Asad Umar has directed the Planning Division and the Economic Affairs Division (EAD) to immediately initiate work for finalising the implementation mechanism of the Karachi Circular Railway (KCR) project with the Chinese side. Chairing a meeting to discuss the KCR project, the minister reiterated that the federal government was fully committed to ... Read More »

Pakistan’s earns $206m from travel services’ export in 5 months

ISLAMABAD: Pakistan earned $206.040 million by providing different travel services in various countries during the first five months of the current financial year 2019-20. This shows growth of 22.61 percent as compared to $168.050 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) said. During the period under review, the personal ... Read More »

Asad Umar chairs 63rd National Logistic Board meeting

ISLAMABAD: Minister for Planning, Development and Special Initiatives chaired the 63rd meeting of the National Logistic Board (NLB). Director General National Logistic Cell (NLC) briefed the participants about the operational, administrative and financial matters of the organization with special emphasis on NLC’s future development plans. The Board approved NLC’s budget and appointment of external auditors. In addition, NLC’s Financial Statements ... Read More »

Telenor CEO, Facebook COO meet Imran Khan at Davos

DAVOS: Chairperson Telenor Gunn Waersted and CEO Telenor  Sigve Brekke called on Prime Minister Imran Khan on the sidelines of World Economic Forum annual meeting 2020. Advisor on Finance Dr Abdul Hafeez Sheikh, Special Adviser to Prime Minister Syed Zulfiqar Abbas Bukhari, Ambassador at Large on Investments Ali Jehangir Siddiqui and Governor State Bank Raza Baqir were also present in ... Read More »

French business climate resilient despite social unrest

Latest business climate figures show French companies in most sectors remained undeterred by recent social unrest. Sensitivity to consumer demand seems high but there’s certainly no sense of panic The main business climate indicator decreased slightly from 105 to 104.5 in January. Considering it is a 10-month low, it could be taken as bad news. However, given the period of ... Read More »

Cultural relics seized by customs exhibited in Sichuan Museum

An exhibition of 251 cultural relics seized by the customs of Chengdu, capital of southwest China’s Sichuan Province, was launched in the Sichuan Museum on Tuesday. The exhibition was jointly organized by the Chengdu Customs and the provincial cultural relics bureau. These cultural relics, including copper Buddha statues, Thangka, calligraphy and painting, ceramics and ancient coins, were selected from over ... Read More »

Sri Lankan importers reject claims on milk powder from New Zealand

(MENAFN – Colombo Gazette) Fonterra Brands Sri Lanka, Maliban Milk Products and Diamond Milk Products are deeply concerned about claims by the Government Medical Officers Association (GMOA), that imported milk powder from New Zealand is harmful for consumption and reiterated the need to separate fact from fiction to prevent causing unnecessary panic and fear among the Sri Lankan public. The ... Read More »

Inchcape extends bunker surveying services to Singapore

Inchcape Shipping Services is launching its bunker surveying services to the port of Singapore with an aim to deliver a “bundled” solution for its customers to reap cost savings. Inchcape announced that the Maritime and Port Authority of Singapore (MPA) has approved of its bunker surveying company license to commence operation from February 2020. “As an established and trusted partner ... Read More »

Hong Kong port loses a million teu as PRD undergoes a ‘transformation’

Hong Kong’s container volumes fell by over a million teu last year, pushing the transhipment hub down to eighth place in the global container port rankings. The port’s throughput fell 6.3%, to 18.36m teu, down more than 1.2m teu on 2018, according to figures from the Hong Kong marine department. By comparison, Shanghai maintained its top position with a 3.1% ... Read More »