Everyday happening in Pakistan and around
Daewoo Engineering & Construction is aiming to help other South Korean construction firms enter Iraq by leading a project to build the country’s largest port, Al Faw. The firm is currently constructing infrastructure and terminals at the port and is part of a consortium formed with Busan Port Authority and SM Line Gyeong-In Terminal. The […]
The Government of Pakistan will increase fuel prices for the affluent to subsidise fuel for low-income citizens, according to the country’s Minister for State for Petroleum, Dr Musadik Malik. Under the scheme, costs could differ by up to PKR100 ($0.89) a litre. In January, fuel costs for the poor will come down by PKR50 per […]
LG Electronics has unveiled its plans for ThinQ, a platform brand that caters to the needs of users looking to create a smart home. The aim, it claims, is to make life easier for consumers. The focus will be on three aspects: connectivity, advancement and openness. The blueprint was presented by Jung Ki-hyun, VP of […]
Jeong Tak has taken up the position of CEO at Posco International following a shareholder meeting at the company headquarters in Incheon, west of Seoul. The meeting was the first held since a merger with Posco Energy on January 1st. Han Jong-soo, an accounting and financial expert and Jeon Young-hwan, an engineering professor at Hongik […]
Pakistan has revised the schedule for its upcoming cricket series against New Zealand due to expected elections in Punjab province. The series has been pushed back by one day and will now start on 14 April in Lahore instead of Karachi. Two of the three venues for the series – Lahore and Rawalpindi – are […]
The Biden administration rescued Silicon Valley Bank and Signature Bank from insolvency through swift and forceful action. Federal money was advanced to SVB’s depositors to prevent the setbacks to thousands of startups that would have resulted from financial chaos. The Federal Reserve granted access to funds to other similar lenders, ensuring financial stability within the banking […]
Inflation in Pakistan is expected to accelerate in March, pushing the Consumer Price Index (CPI) to 34.34% year on year, according to a report by brokerage house JS Global. The figure would be the highest since at least 1965, the report said, and would mean a month-on-month increase of 2.95%. Higher food prices, long-delayed gas […]
Six big central banks including the US Federal Reserve have reinstated a daily US dollar swap arrangement for non-US banks. These agreements provide liquidity via dollar funding to those banks during times of crises such as Covid-19 or the financial crisis. While some commentators have speculated that the dominance of the US dollar might erode […]
The Chairman of South Korea’s Fair Trade Commission, Han Ki-jeong, has pledged to protect Korean consumers from any negative impacts of the European Union’s Digital Market Act (DMA), which aims to stop the world’s largest tech companies from abusing their power and to foster more competition. Han warned that if multinational technology firms that operate […]
Pakistan’s Prime Minister, Shehbaz Sharif, has spoken out against opposition leader Imran Khan’s “disgusting” campaign against the country’s army chief, Asim Munir. The prime minister accused Khan of “stooping to unprecedented lows in his desperation for power”, of damaging the country and of undermining the armed forces and their leadership. Sharif said the campaign against the COAS was […]
