Asia

Islamabad, Pakistan: Pakistan is facing inflation, under which the prises of petroleum products will increase by Pakistani Rs 6.30 per litre.The prices of petrol (motor gasoline) and high-speed diesel (HSD) had been worked out to go up by about Pakistani Rs 5.30 and Pakistani Rs 5.80 per litre, respectively, based on the existing tax rates, import parity price and exchange rate, Dawn reported citing sources. Likewise, the prices of kerosene and light diesel oil (LDO) are also estimated to go up by Pakistani Rs 5.80 and Pakistani Rs 6.30 per litre, respectively. According to Dawn, an official said the Imran Khan-led government could slightly reduce sales tax on petroleum products if it decides to minimise inflationary pressures on the public, but it would largely depend on its en...

KHYBER: Talking to reporters during a visit to Torkham, Mr Ahmad said Pakistan’s exports to Afghanistan had declined by more than 25 per cent during the last six months due to a ‘fragile economic situation’ in Afghanistan due to the international sanctions imposed after the Taliban’s Kabul takeover. He said that the weak Afghan economy had decreased the residents’ purchasing buying power, which badly hit trade between the two neighbouring countries. The official said that the State Bank of Pakistan had introduced a new policy of exports to Afghanistan on Dec 13 requiring Afghan traders to show US dollars along with their passports at the time of entry to Pakistan to acquire Form-E for buying and importing Pakistani goods to Afghanistan. Customs official blames it on poor Afgh...

Peshawar, Pakistan: Pakistan is under inflation for a very long time now and the government is also able to control it. The opposition party Jamaat-e-Islami (JI) said that they will hold a protest against the price hike in the country.Senator Mushtaq Ahmad Khan, the provincial president of the party announced the protest in all districts and the tehsil headquarters of the province. He has strongly condemned the price hike in electricity

Recently, the climate summit for securing the global climate and on phasing out coal has been conducted in Glasgow and therein the world’s two biggest emitters China and the United States have also agreed to boost climate cooperation over the next decade and stated that they will recall their commitment and will try to achieve the 1.5C temperature goal set out in the Paris Agreement but surprisingly it has been found out that Chinese President Xi Jinping is still financing coal power plants in Bosnia and Herzegovina. The ground for the new station Ugljevik III in the Baltic nation has been already prepared and these power plants are getting financed by the Chinese Bank. According to the Washington based Magazine, Diplomat due to the burning of the coal health of the residents in the vi...

The value of Afghani the currency of Afghanistan has dropped against dollar while the country is going under a humanitarian and economic crisis. The alarming drop in value of Afghanistan’s currency, the Afghani, against the dollar happens amid an economic and humanitarian crisis that has also led to a sharp increase in the price of goods, including essential items like food and fuel. The Money Exchanger's Union in Sarai Shahzada, Afghanistan’s biggest money exchanging market, said on Monday that one dollar was exchanged for 123 Afghani, while on Sunday it was 110 Afghani, and a month ago it was below 90. The exchanger's union said some people have played a role in the increase of the dollar price by spreading rumors, and were pushed out of the market on Sunday. On Monday,...

Ankara, Turkey: Turkey is trying to expand its footprint in Afrika since last twenty years, initially Turkey had only one embassy in Lagos in 1962 but today the picture is changed, it now has 42 in different countries and many more in pipeline. Turkey is involved with these nations through not only trade but also through education, military cooperation, infrastructure and more. The country has expanded its footprints from the north -Egypt, Algeria, Sudan, Ethiopia, and Somalia to the West African nations like Chad, Mali, Niger, Burkina Faso, Senegal, and then to Angola, South Africa, Congo and more. The intensifying relations between the Ankara-Africa are largely shaped during the incumbent Turkish President Recep Tayyip Erdogan's tenure. During Erdogan's Prime minister ship from...

Islamabad, Pakistan: Pakistani rupees hts a new low of Rs 177.43 against USD, during the inflation in country. According to the data released by the State Bank of Pakistan, the local currency closed at Rs176.79 against the greenback on Tuesday. The rupee has maintained the downtrend for the past seven months. It has lost 16.52 per cent (or Rs 25.16) to date, compared to the 22-month high of Rs 152.27 recorded on May 14, further, the Pakistani publication said. With a fresh decline of 0.36 per cent, the rupee has depreciated by 12.62 per cent (or Rs 19.89) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed. The new fall came as a fresh report by The News International revealed that the Pakistani rupee’s value against the US do...

Sudanese Supreme Court issued an arrest warrant (11th October 2021),against the country managers of Petronas, and the Chinese National Petroleum Company (CNPC). The arrest warrant was issued due to their failure to settle the labour issues of PetroDar Operating Company (PDOC). The government is also planning to confiscate assets acquired by these companies through illegal means during the previous regimes.PDOC is a joint venture company in Sudan in which Petronas (a Malaysian oil and gas company) and CNPC (a major national oil and gas corporation of China) have ownership. The major stakeholder in PDOC is the CNPC with 41% shareholding and the close second is Petronas with 40% shareholding. Other shareholders include Sudapet (Sudan), SINOPEC (China), and Tri-Ocean Energy (Kuwait). A PDO...

NEW DELHI: Afghanistan issue was never off out site said PM Modi adding that, Russia has always helped India and took care of its sensitivity and so as India. The Prime Minister, who held the annual summit meeting with Russian President Vladimir Putin at Hyderabad House here, said that the 2+2 mechanism between the two countries has started a new mechanism to increase cooperation between the two countries. "Both countries have not only helped each other without any hesitation but have also taken care of each others' sensitivities. This is really a unique and trustworthy model of intrusted friendship," he said. This is the first in-person between PM Modi and Putin since they met on the sidelines of the BRICS summit in 2019 in Brasilia. The visit of the Russian leader is in ...

Beijing, China: According to the reports, Chinese companies are exploiting workers overseas. Labours in areas including Laos have not been paid for as long as six years.In its report, The HK Post said that workers in Laos have claimed that they are yet to receive any payment for the work done in 2015. These workers were hired by a Chinese company to build homes for villagers displaced by the construction of a China-backed dam. This is not the only case of Laos workers being exploited by Chinese companies. Just weeks before China’s bullet train project in Laos was to be thrown open for the public, over a hundred workers who built this high-speed railway, which connects China with Laos, say they have not been paid for two months, The HK Post reported. Disputes between Chinese companie...