German central bank sees signs of recession 'multiplying'

The German central bank said Monday it was increasingly likely that Europe's largest economy would shrink for a "prolonged" period as Russia throttled energy supplies to the continent.

Indian exports to GCC surge by 44% to $43.9 billion

The two-way trade between the UAE and India stood at $43.3 billion in 2020-21, including Indian exports worth $16.7 billion and imports at $26.7 billion. In 2019-20, the bilateral trade value was $59.11 billion.

Mubadala Energy announces new gas discovery in Malaysia

Mubadala Energy has confirmed the discovery of a good quality gas reservoir penetrated by the Cengkih-1 exploration well in Block SK320, off the coast of the Sarawak province, offshore Malaysia. 

COVID-hit Shanghai unveils $257 billion in projects in infrastructure push

The economy of China’s biggest city slumped 13.7% in the second quarter, the worst performance among all 31 of China’s province-level regions.

Canadian inflation rate slows to 7.0%, though food prices hit 41-year high

The country's annual inflation rate slowed to 7.0% in August, below analyst forecasts of 7.3% and down from 7.6% in July.

Cotton production falls 19%

Pakistan’s cotton production has shrunk 19% to 2.19 million bales till September 15, 2022 in the current season mainly due to the devastation caused by heavy rainfall and flash floods nationwide.

Vendors demand $13m to keep automobile sector functional

The Pakistan Automotive Manufacturers Association (PAMA) has drawn the attention of the governor State Bank of Pakistan (SBP) to the scarcity of imported sub-components, components and sub-assemblies, and has urged the SBP and EDB/MOIP to intervene and allocate a minimum quota of $13 million per month for the bare minimum working of all segments of the automobile sector.

Apple to raise App Store prices in some countries, including Pakistan

The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct 5, Apple said

Cement demand to remain depressed

As per the data available, around 580,000 houses have been fully damaged due to the floods,

50 trucks bring vegetables from Iran, Afghanistan

We received 27 trucks of fresh tomatoes and onions from Iran on Friday which were carrying 660 tonnes of onions and tomatoes while13 trucks reached yesterday

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