HANOI , July 25, 2023: Vietnam aims to raise its rare earths production to 2.02 million tonnes a year by 2030, according to a government plan reviewed by Reuters, as it seeks to tap one of the world’s largest reserves of key industrial metals, Reuters reported. The Southeast Asian country has the world’s second-largest reserves of rare earths – an …

ROME , July 25, 2023: A three-day United Nations summit opened in Rome on Monday aimed at tackling a “broken” global food system where millions are starving, two billion are overweight or obese and the planet is suffering. The food systems summit comes amid growing food insecurity around the world, with UN agencies warning of an increasing number of people …

KARACHI, July 25, 2023: In a bid to convince petroleum dealers to call off the strike they threatened last week, the government agreed to increase their profit margin on petroleum products by Rs1.64 per litre, after hours-long negotiations, The News reported Tuesday. Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan announced the deal made in this regard. The government …

ISLAMABAD , July 24, 2023: The inflation-hit households will now have to adjust their monthly budget for accommodate more expenses, as the Oil and Gas Regulatory Authority (Ogra) hiked the tariff for the Sui Northern Gas by 50 per cent and the Sui Southern Gas by 42pc on average. It means a Sui Northern gas consumer is going to pay …

TOKYO , July 24, 2023: Japan’s inflation will likely slow to around 1.5 per cent next year when stripping away the effect of one-off factors, a government spokesperson said on Monday, calling on the central bank to work towards achieving its 2pc inflation target. The remarks came amid simmering market speculation that creeping inflation and robust wage growth will prod …

BERLIN, July 22, 2023: The European Central Bank (ECB) has stepped up the scrutiny as it will ask the banks to provide liquidity data in a bid to ward off any risks of a financial crisis in the future, AFP reported. “We decided to send banks, starting in September, a request for information on a weekly basis, in order to …

ISLAMABAD , July 22, 2023: The federal cabinet late on Friday approved a massive hike in electricity base tariff through circulation as Pakistan is moving ahead to meet the harsh IMF conditions under the $3 billion deal reached a stand-by arrangement. Earlier, the National Electric Power Regulatory Authority (Nepra) had recommended at Rs4.96 increase in base price and sent the …

MUMBAI , July 22, 2023: India’s decision to ban non-basmati white rice exports will spur traders to cancel contracts to sell around 2 million metric tons of the grain, worth $1 billion, on the world market, dealers said on Friday. India, which accounts for 40 per cent of world rice exports, on Thursday ordered a halt to its largest rice …

KARACHI, July 21, 2023: The KSE-100 index, the Pakistan Stock Exchange’s (PSX) benchmark, on Friday bounced over 600 points and crossed the 46,000 mark. The index reached 46,073.61 points at 3:46pm, 675.30 points exceeding the yesterday’s close of 45,398.31. Arif Habib Corporation Director Ahsan Mehanti said the rise was attributed to “good financial results”, IHC’s declaration of imposition of super …

KARACHI, July 21, 2023: Indus Motor Company Limited, a prominent player in Pakistan’s automotive industry and the manufacturer of Toyota vehicles, has temporarily closed its production plant for two weeks, The News reported Friday. The decision comes as the company faces significant hurdles in importing raw materials, leading to disruptions in its supply chain. Last month, Indus Motors experienced a …