Business360

LAHORE: Price of 20kg wheat flour bag in Punjab has reached Rs 1,020, said Flour Mills Association on Tuesday, ARY News reported.  Provision of cheaper flour in Lahore to be closed from tomorrow as the government has seized flour mills’ wheat quota. “We are purchasing 40kg wheat bag from open market at Rs1,900 and compelled to jack up the flour prices,” said chairman Flour Mills Association. He further said, from tomorrow price of a 20kg wheat flour bag in Punjab would be Rs1,020. On Monday, Finance Minister Shaukat Tarin had directed to review the entire supply chain from farmer to end-consumer for basic commodities to ensure that farmer is paid well and the consumer gets the maximum relief. He gave these directions while chairing a meeting of the National Price Monitoring Committee in Islamabad. Read more: 20kg flour bag is available Rs800, Sugar for Rs68/kg: Utility Stores The Finance minister also urged provinces to chalk out a firm plan for monitoring of prices and availab

ISLAMABAD: Finance Minister Shaukat Tarin will chair the session of the Economic Coordination Committee (ECC) to discuss a six-point agenda on Wednesday (tomorrow), ARY News reported. The Economic Coordination Committee (ECC) deliberate upon the 40 per cent payments to the independent power producers (IPPs), while Energy Ministry will present its report in this context. Moreover, the participants of the session will discuss the provision of 100 per cent subsidy to the export industries on the regasified-liquified natural gas (RLNG). Grants related to housing, law and disabled persons will also come under consideration in the meeting. Earlier this month, Shaukat Tarin was appointed as the new finance minister in a cabinet reshuffle by Prime Minister Imran Khan. The additional charge of the finance minister was taken back from Industries and Production Minister Hammad Azhar who has now replaced Omar Ayub as energy minister. The post Shaukat Tarin to chair ECC meeting tomorrow app

In China’s commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. The banks are persuading merchant and retail clients to download digital wallets so that transactions during the pilot programme can be made directly in digital yuan, bypassing the ubiquitous payment plumbing laid by tech giants Ant Group, an affiliate of Alibaba, and Tencent. “People will realise that digital yuan payment is so convenient that I don’t have to rely on Alipay or WeChat Pay anymore,” said a bank official involved in the rollout of e-CNY for the Shanghai trial, under the guidance of China’s central bank. The official is not authorised to speak with media and declined to be identified. China’s development of a sovereign digital currency, which is far ahead of similar initiatives in other major economies, looks increasingly poised to erode

KARACHI: The Pakistani rupee depreciated 26 paisas against the United States (US) dollar on the first day of week’s trading in the interbank market on Monday. According to the State Bank of Pakistan (SBP), the local currency closed at Rs154.13 against the greenback, registering depreciation of 26 paisas over the previous close of Rs153.87. Interbank closing #ExchangeRate for today: https://t.co/EutqMJsjKH pic.twitter.com/uwr9HxRdkY — SBP (@StateBank_Pak) April 26, 2021 On April 28, the rupee had appreciated to 152.95 against the dollar, hitting a 22-month high. The rupee has recovered more than Rs15 during the last seven months since it touched an all-time low of Rs168.43 last year in August. The post Pakistani rupee weakens against US dollar appeared first on ARY NEWS . from Business – ARY NEWS https://ift.tt/2QZv6fe

Japan’s biggest airline ANA said Monday it aims to become carbon neutral by 2050 through new technology, emissions trading and other efforts. It comes after Prime Minister Yoshihide Suga announced last week that Japan would target a 46-percent cut in greenhouse gas emissions by 2030, significantly more than previously pledged. ANA Holdings said it “plans to reduce carbon emission levels from aircraft operations to net zero by 2050” by using more sustainable fuel, developing more efficient planes and engines, and through carbon trading.   View this post on Instagram   A post shared by All Nippon Airways (@allnipponairways) Last year, the company set a target to halve carbon emissions by 2050 compared with 2005 levels. Such initiatives are not new among airlines, with the industry body for America’s leading carriers pledging to work towards net-zero emissions by 2050, and British Airways eyeing greener jet fuel. Japanese car giant Honda als

Turkey’s lira slid on Monday to near an all-time low as a chill settled on relations with the United States, and after the new central bank chief signalled that rate hikes would harm the economy. The currency , among the worst performers in emerging markets this year, weakened as much as 0.6% to 8.48 versus the dollar, close to its 2021 low water mark and closing in on its record of 8.58 reached in early November. “Market negativity is intense. (The) risk of an overshooting episode is unfortunately elevated,” Robin Brooks, chief economist at the Institute of International Finance, said on Twitter. The lira shed 3.5% in the last three trading days as it became clear that U.S. President Joe Biden would officially recognise the 1915 massacres of Armenians in the Ottoman Empire as a genocide. Turkey, a NATO ally, sharply criticised the White House’s decision, which was announced on Saturday, and said it undermined trust and friendship. Turkish assets are particularly sensitive to str

Digital currency Bitcoin dropped 1.77% to $50,269.9 on Saturday, losing $906.75 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 22.5% from the year’s high of $64,895.22 on April 14. Ether , the coin linked to the ethereum blockchain network, dropped/dipped 4.91 % to $2,253.41 on Saturday, losing $116.36 from its previous close. Bitcoin and other cryptocurrencies suffered hefty losses on Friday amid fears that U.S. President Joe Biden’s plan to raise capital gains taxes will curb investment in digital assets. But while social media lit up with posts about the plan hurting cryptocurrencies, and individual investors complaining about losses, some traders and analysts said declines are likely to be temporary. read more There has been growing retail and institutional investor acceptance of digital currencies as a legitimate asset class. That has coincided with a surge in online trading in stocks and crypto by retail investors, stuck at home