Friday , 28 July 2017

Pakistan to focus on ‘non-traditional’ trade markets

ISLAMABAD: Pakistan is going to access non-traditional trade markets of the world and liberalise its trade environment, which will ensure sustained economic growth, said Commerce Minister Khurram Dastgir. He said this while chairing a briefing on the status of the Free Trade Agreement (FTA) negotiations under way with Thailand, stated …

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Textile sector: PTEA laments high RLNG prices

FAISALABAD: The Pakistan Textile Exporters Association (PTEA) has expressed concern over high RLNG prices, part of which is the recovery component of distribution losses and cost of supply to the textile sector. Inclusion of such charges in RLNG prices has increased the production cost, rendering us unviable within the region, …

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Brazil envoy says Pakistan investment-friendly

KARACHI: The Federative Republic of Brazil Ambassador to Pakistan Claudio Lins has said that ‘misinformation and false information’ about the safety and security situation discourages Brazilian investors from visiting or investing in Pakistan, which can be addressed by exchanging more trade missions. Speaking during his visit to the Karachi Chamber …

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$8-billion main rail-link: ML-1 project to be kept outside PSDP

ISLAMABAD: The government has decided to complete the $8 billion project meant to upgrade Pakistan’s main rail link ML-I that connects the country’s north to the south by keeping it outside the Public Sector Development Programme, a move aimed at avoiding its impact on the country’s limited pool of development …

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Currency: Dollar rebounds from earlier 2% fall to hit one-week high

NEW YORK: The dollar rose in early North American trading as investors re-evaluated the impact of the victory of Republican Donald Trump in the US presidential election. The dollar had fallen 2% in the aftermath of Trump’s shock win over heavily favored Democrat Hillary Clinton, kindling fears of economic and …

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Textile sector concerned after Trump’s election

KARACHI: The shocking result of the US presidential election has generated a little bit of anxiety among Pakistani textile exporters who believe political uncertainty in the US may harm their exports. “The current situation indicates that the dollar may weaken in the short term, which will negatively affect Pakistani textile …

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Govt ready to put Steel Mills in foreign hands

ISLAMABAD: The government has decided to give Pakistan Steel Mills (PSM) on lease to foreign investors after failing to privatise or revive the industrial giant despite injecting over Rs26 billion over the past two and a half years. “Based on some interest expressed by the Chinese and Iranians, we are …

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Undeterred by Trump’s victory, Pakistan remains positive

KARACHI / ISLAMABAD: Stock markets were rattled when Republican candidate Donald Trump appeared to edge ahead of Hillary Clinton in the US presidential race. The dollar lost value and safe-haven assets such as gold and the Japanese yen soared. But as euphoria, surprise and even anger wore off as Trump …

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LoC skirmishes: Indian troops target Shahkot, Jura with heavy artillery

RAWALPINDI / NEW DELHI: Indian forces once again violated the ceasefire along the Line of Control on Wednesday, Inter-Services Public Relations (ISPR) said. “Indian troops resorted to unprovoked heavy artillery shelling in the Shahkot and Jura sectors of the Neelam Valley,” the military’s media wing said in a statement. According …

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Islamic Development Bank offers $500m for TAPI pipeline

ISLAMABAD: The Islamic Development Bank (IDB) an international Islamic financial institution based in Saudi Arabia has offered $500 million in loans finance the Turkmenistan, Afghanistan, Pakistan and India (Tapi) gas pipeline project, which will meet growing energy needs of three countries, an official says. Turkmenistan will contribute 85% of the …

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