Pakistan Today

ISLAMABAD: Pakistan has become one of the five countries in the world with the most investment in the first half-year of 2020 for the first time, according to a World Bank (WB) report released Tuesday. “Pakistan had the fourth-highest investment commitments – a new entrant to the top five countries this year—with $1.9 billion of investment commitments, accounting for 0.69...

KARACHI: The Pakistan Stock Exchange (PSX) fell flat on Tuesday, as investors adopted a cautious approach amid political uncertainty and rising coronavirus cases. Global equity markets displayed a negative trend, whereas crude oil prices also slipped lower from the previous close; WTI crude price falling 0.35pc to $45.61 while Brent crude price declining 0.37pc to $48.61. “Investors witnessed a choppy session...

Former Karachi Chamber of Commerce and Industry (KCCI) president Siraj Kassam Teli passed away in Dubai on Tuesday. The 67-year-old businessman had been diagnosed with pneumonia and was admitted to a UAE hospital and breathed his last during treatment. Born in 1953, Teli graduated from Karachi's Government Commerce College in 1974. The businessman was awarded Sitara-e-Imtiaz by the government in 2011. He...

ISLAMABAD: China Pakistan Economic Corridor (CPEC) Authority Chairman Lt. Gen (r) Asim Saleem Bajwa on Tuesday said that the earth breaking ceremony in Rashakai Special Economic Zone (SEZ) under CPEC would be held soon. The CPEC chairman said this during a meeting with National Assembly (NA) Speaker Asad Qaiser here at the Speaker House to discus the progress of ongoing...

SAN FRANCISCO: Tesla Inc unveiled a $5 billion capital raise on Tuesday, its second such move in three months as the electric-car maker cashes in on a meteoric rally in its shares this year. The company’s shares touched a record high on Monday, pushing Tesla’s market capitalization above $600 billion and further cementing its position as the most valuable auto...

LAHORE: The Punjab cabinet has given approval for the establishment of five cement plants in the province. Addressing a press conference in Lahore on Tuesday, Special Assistant to Punjab Chief Minister on Information Dr Firdous Ashiq Awan said that the provincial cabinet has given approval for an investment of Rs200 billion in these cement plants. Earlier in the day, Chief Minister...

ISLAMABAD: Pakistan would continue to benefit from the UK’s trade preferences scheme at par with the EU GSP Plus facility after the Brexit. This was stated by Pakistan High Commissioner in the United Kingdom (UK) Moazzam Ahmad Khan Monday while delivering a key-note address at a webinar on “Post-Brexit UK’s GSP scheme and potential for Pak-UK trade”, jointly organised by the Pakistan...

The world's largest automaker, Volkswagen (VW) is set to begin production of its vehicles in Pakistan in 2022. The VW Group has some of the most prolific auto-manufacturers as its subsidiaries, including Bentley, Porsche, Audi, Lamborghini, Bugatti, SEAT, and Skoda. According to a Volkswagen Premier Motors representative, the company will start off by introducing the Amarok, a pickup truck that comprises...

Prime Minister (PM) Imran Khan on Tuesday said that the country will soon have two new big dams, five decades after the construction of Tarbela and Mangla dams. In this regard, the premier posted a video of showing the under-construction site of Mohmand dam with work in progress on diversion tunnels, outlet portals, access tunnel and re-regulation pond. After Mangla &...

ISLAMABAD: The National Price Monitoring Committee (NPMC) was informed on Monday that currently sufficient stocks of wheat were available to meet existing demand across the country. The NPMC meeting was chaired by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, which discussed prices and supply of essential food items, according to a statement issued by the...

Pakistan’s exports to the United States surpassed the $400-million mark during the months of October and November 2020, said Adviser to Prime Minister on Commerce Abdul Razak Dawood. “I am glad to share that exports of Pakistan to the US during the months of October and November 2020 stood at $430 million and $437 million, respectively,” the adviser said in...

WASHINGTON: Chinese Foreign Minister Wang Yi assured U.S. executives during a videoconference on Sunday that Beijing remained committed to the Phase 1 trade deal with the United States, the head of the US-China Business Council said. “He definitely re-committed. On the Chinese side, it’s all systems go. They will fulfill their commitments,” US-China Business Council President Craig Allen told Reuters...

SINGAPORE: Oil prices fell on Tuesday, adding to losses from the previous session that came as California tightened its pandemic lockdown through Christmas and coronavirus cases continued to surge in the United States and Europe. Brent crude futures fell 51 cents, or 1.1%, to $48.28 a barrel by 0744 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 45...

NEW DELHI/MUMBAI: Farmers’ protests against new laws liberalising agricultural markets spread across India on Tuesday, as farm organisations called for a nationwide strike after inconclusive talks with Prime Minister Narendra Modi’s government. In eastern and western states, farmers blocked roads and squatted on railway tracks, delaying hordes of people getting to work, and preventing perishable produce from reaching markets. Farmers from...

HONG KONG: China has removed 105 apps including that of US travel firm TripAdvisor Inc from app stores in the country, under a new campaign to cleanse stores of apps it deems spread content related to pornography, prostitution, gambling and violence. The Cyberspace Administration of China said in a statement on its website on Tuesday that the apps violated one...