China has recently approved a one-year extension on Pakistan’s $2 billion in SAFE (State Administration of Foreign Exchange) deposits, initially set to mature by the end of the current month. This crucial development was confirmed by Pakistan’s Finance Minister Ishaq Dar in a media briefing on Thursday. This extension is…
On March 21, International Day of Forests, the Polish government, led by Prime Minister Mateusz Morawiecki, adopted a resolution in defense of the country’s forests. Morawiecki emphasized that forestry and forest management should remain the exclusive responsibility of individual EU member states. The resolution was introduced by Anna Moskwa, Minister…
India’s economy is on a steady path and is unlikely to face major repercussions from the recent global financial turmoil, according to the Reserve Bank of India (RBI). In its bulletin released on Tuesday, the RBI stated (https://bnn.network/finance-nav/business/rbi-governor-shaktikanta-das-highlights-the-importance-of-accessible-grievance-redressal-for-digital-payments/) that “India would not slow down – it would maintain the pace…
Pakistan and China have examined their full range of bilateral relations, agreeing to broaden and strengthen political and security collaboration, trade, economic and financial partnerships, cultural exchanges, tourism, and people-to-people connections. The third round of Pakistan-China bilateral political consultations (BPC) took place in Beijing, with Foreign Secretary Dr. Asad Majeed Khan leading the Pakistani delegation and Vice Foreign Minister Sun Weidong heading the Chinese team, according to a Foreign Office…
According to Eurostat, the statistical office of the European Union, the job vacancy rate in Lithuania in Q4 2022 was 1.7%, a slight decrease of 0.2% from the previous quarter and 0.1% year-on-year. This is in contrast to the EU job vacancy rate, which was 2.8% in Q4 2022, down from 2.9% in the previous quarter and up from 2.6% in Q4 2021. In the euro area, the vacancy rate…
During the first eight months of the fiscal year 2022-23 (FY23), the government of Pakistan borrowed $7.407 billion from various financing sources. This amount is lower than the $12.178 billion borrowed during the same period of the previous fiscal year. The government has a foreign assistance budget of $22.817 billion for this fiscal year, which includes $7.5 billion from foreign commercial banks. In February 2023, the government secured $1.271 billion…
On Monday, Minister of State for Petroleum, Musadik Masood Malik, announced that the government will impose an additional Rs. 100 per liter on petrol for the rich and use the collected amount to subsidize petrol for the poor. The announcement came after Prime Minister Shehbaz Sharif directed a relief of Rs. 50 per liter on petrol for low-income families using motorcycles, rickshaws, and cars with up to 800cc engines. Malik stated that the prime minister has now directed to increase…
In a recent statement, Ayatollah Khamenei, the Supreme Leader of Islamic Revolution in Iran, revealed the slogan for the new Iranian year (1402) as “Inflation Control, Growth in Production.” This announcement comes as Iran faces a struggling economy due to rising inflation and sanctions imposed by Western countries. In his message for Newrouz, the Iranian New Year, Ayatollah Khamenei congratulated the Iranian people and other nations that celebrate this occasion. He emphasized the importance of this holiday, which represents the…
The World Bank announced on Monday that the earthquakes in February are expected to cause Syria’s real GDP output to contract by 5.5 percent in 2023, with recovery and reconstruction efforts requiring an estimated $7.9 billion over the next three years. In its Rapid Damage and Needs Assessment report, the World Bank estimates that the earthquakes which struck northern and western Syria on February 6 and February 20 caused physical damages of $3.7 billion, coupled with $1.5 billion in economic…
According to authorities, a tragic landslide occurred in the Dakshina Kannada district’s Sullia region, resulting in the deaths of three migrant workers. The deceased individuals have been identified as Somashekar Reddy, Shanthavva, and Chandrappa. The police have reported that the laborers were constructing a wall on Saturday when they were buried alive by the landslide. The Superintendent of Police (SP) of Dakshina Kannada, Dr. Vikram Amate, has informed the media that a case has been filed against Aboobaker (the owner…
Dr. Tariq, the head of the National Project for Olive Food Sector, spoke at the 4th National Olive Fair, highlighting that Pakistan spends billions of rupees every year to improve the country’s olive industry through the Barani Research Institute. The Institute, based in Chakwal, plays a crucial role in olive cultivation and research. The Zaitoon Mela event provides a platform for agricultural scientists, olive growers, olive product manufacturers, and investors to collaborate and create a common strategy for olive promotion.…
In January 2023, Colombian imports totaled 5.529 million dollars, marking an 8.6% decrease compared to the same month in 2022. The decline was primarily due to the fall in the manufacturing group, which decreased by 18.1%. During the first month of the year, Colombia’s imports were mostly in the form of manufactured goods, accounting for 67.6% of the total, followed by fuels and products from extractive industries at 16.7%, agriculture, food, and beverages at 15.6%, and other sectors at 0.1%.…
The Colombian National Administrative Department of Statistics (DANE) reported on Friday that the country’s economy expanded by 5.8% in January, though slower than the 7.79% growth in the same month last year. The Gross Domestic Product (GDP) grew by 2.57% compared to December, which is usually a month of higher consumption. DANE’s report revealed that the growth was primarily driven by a 7.46% surge in associated services, with financial and insurance activities leading the way with an increase of over…
On Friday afternoon (17), members of Brazil’s economic team presented the details of the new fiscal anchor to President Luiz Inácio Lula da Silva in a meeting at the Planalto Palace. The spending cap rule will be replaced by the new fiscal anchor. The meeting was attended by several ministers, including Fernando Haddad (Finance), Rui Costa (Casa Civil), Ester Dweck (Management and Innovation), Simone Tebet (Planning and Budgeting), and Vice President Geraldo Alckmin. No one commented on the meeting’s outcome.…
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