Apple to use 100% recycled cobalt in batteries
Apple said that it would use 100 percent recycled cobalt in all batteries by 2025. The announcement came as the company accelerated its eco-friendly efforts and aimed to enhance the presence of.
Dubai issues law for operating autonomous vehicles
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, issued a new law that will govern the use of self-driving cars in Dubai. The law outlines how Dubai’s Roads and Transport.
SBP foreign reserves decline
Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $170 million in the week ending on April 7 owing to external debt repayments, data released by the central.
Oil prices fluctuate after two-day rally
Oil prices fluctuated on Thursday after a two-day rally as traders looked to consolidate their positions amid signs of a tightening market and encouraging US inflation data. Brent, the benchmark for two.
Financial instability overshadows IMF growth forecast
The International Monetary Fund trimmed its forecast for global growth this year and next by just 0.1 percentage points to 2.8 percent and 3 percent, respectively, in its April 2023 World Economic.
Elon Musk cuts about 80% of Twitter’s staff
Elon Musk laid off more than 6,000 people at Twitter since taking over the company, he told the BBC in an interview. Musk was quoted as saying that the social media platform.
Kazakhstan takes global majors to court over oilfield revenues
Kazakhstan on Tuesday said it had begun international arbitration court proceedings against energy majors including ExxonMobil and Shell over $16.5 billion (15.2 billion euros) in costs deducted from the revenues from two.
Remittances hit 7-month high in March
Remittances sent home by overseas Pakistanis touched a seven-month high at $2.5 billion in March apparently due to Ramadan and Eid ul Fitr. The inflow of workers’ remittances was 27% higher compared.
World Bank raises global growth forecast
The World Bank revised its 2023 global growth forecast slightly upwards to 2 percent from a January forecast of 1.7 percent on the improved outlook for China’s economy. China was projected to.
Ukraine resumes electricity exports
It emerged that Ukraine would resume exporting electricity after a six-month gap following repairs carried out after months of repeated Russian attacks. Energy minister Herman Halushchenko signed an executive order allowing electricity.
SFD signs million dollars loan agreement to support Mohmand Dam
Pakistan and Saudi Arabia on Friday reached an agreement under which the Saudi Fund for Development (SFD) would provide $240 million to advance the multipurpose Mohmand Dam project. The dam would significantly.
Russian rouble suffers worst week against US dollar
The Russian rouble suffered its worst week against the dollar this year, tumbling on a lack of foreign currency in Moscow and the sale of Western businesses in Russia. The rouble dipped.
Eidul Fitr: Markets allowed to remain open till 1am
The Lahore High Court (LHC) on Friday allowed markets to remain open till 1am with regard to the commencement of Eidul Fitr. The orders were passed by Justice Shahid Karim of Lahore.
Rupee puts major dent in dollar
Rupee on Thursday turned tables on the US dollar, strengthening by over a percent in inter-bank trade. It was because of the hopes of revival of the International Monetary Fund (IMF) bailout.
Saudi Arabia assures IMF of billion dollars deposits to Pakistan
The International Monetary Fund (IMF) has confirmed that it has received confirmation from Saudi Arabia on $2 billion in additional deposits to Pakistan. Islamabad has been negotiating with the IMF since the.
Naveed Qamar rules out shortage of sugar in Pakistan
Minister for Commerce Naveed Qamar on Wednesday ruled out the shortage of sugar in Pakistan despite its export. Speaking on the National Assembly floor, Minister for Commerce Naveed Qamar said Pakistan has.
Virgin Orbit files for bankruptcy
Virgin Orbit filed for bankruptcy after the company founded by the British billionaire Richard Branson failed to secure the funding it needed to keep operating. The satellite launch company listed $243 million.
Pakistani rupee reaches all-time low against US dollar
Pakistani rupee continued to depreciate steeply against the United States (US) dollar in the interbank market, hitting a new all-time low of Rs287.90. According to forex dealers, the rupee depreciated Rs2.86 against.
SBP likely to raise interest rate to unlock IMF loan programme
State Bank of Pakistan (SBP) is likely to raise the interest rate by 2 per cent at the upcoming meeting of the Monetary Policy Committee (MPC) to unlock the stalled IMF loan.
Ishaq Dar to visit US, attend spring meetings of IMF, World Bank
Pakistan’s Finance Minister Ishaq Dar will visit the United States from April 10 to 16 to attend the upcoming annual spring meetings of the International Monetary Fund (IMF) and the World Bank,.
Petrol, diesel prices to remain unchanged: Dar
Finance Minister Ishaq Dar has announced that the prices of petrol and diesel will remain unchanged for the next 15 days. The federal government decided to maintain the petroleum products prices for.
UAE-Pakistan’s pharmaceutical sector to work together
Islamabad: A delegation from the United Arab Emirates, led by the chairman of an Abu Dhabi-based biotechnology firm, called on Prime Minister Shehbaz Sharif in his office. It expressed a “keen interest”.
Plunging coca prices create ‘humanitarian emergency’ in Colombia
Bogotá: Farmers in parts of Colombia say sales of coca, the raw ingredient used to make cocaine, collapsed after a recent surge in production of the illicit drug. “We’ve seen a complete.
IMF demanding billion dollars guarantees from UAE, Saudi Arabia: Dar
Ishaq Dar on Thursday said that Pakistan didn’t delay a single day in its payments. “We didn’t defer a day in payments,” finance minister said while speaking on the floor of the.
Nepra hikes power tariff for KE consumers
The National Electric Power Regulatory Authority (NEPRA) has approved Rs0.56 per unit hike in the power tariff for K-Electric consumers on account of fuel charge adjustment (FCA) for February. The power regulator.
IMF rejects Pakistan’s initial proposal on fuel subsidy
The International Monetary Fund (IMF) has rejected Pakistan’s initial proposal for subsidy on petroleum. “The lending institution has demanded the complete plan of the petroleum subsidy from the government,” sources said. “The.
Asian markets rise on Alibaba boost
Asian stocks have been broadly up to buck losses on Wall Street, led by massive gains for Chinese tech behemoth Alibaba after it announced it would split into six groups. The Hangzhou-based.
US, Japan strike deal on electric vehicle battery minerals
The United States (US) and Japan on Tuesday announced a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access.
“Global economic growth to slump to three-decade low”: World Bank
According to the World Bank, the global economy is set to reach its “speed limit” and slump to a three-decade low by 2030. Systemic banking crises and recessions are expected to have.
Alibaba chief makes rare public appearance
Jack Ma, the founder of tech giant Alibaba, made a rare public appearance in China. The country’s best-known entrepreneur kept a low profile since late 2020 when a speech he made was.