Pakistan’s economy is experiencing positive growth in the first quarter of FY2023-24, with the Pakistan Stock Exchange rallying, bond markets improving, and the Pakistani rupee showing recovery. Manufacturing and agriculture sectors also show positive trends, along with strong revenue performance and increased foreign direct investment. Overall, the government’s stabilization measures have contributed to a promising economic outlook.

Pakistan’s top export destinations in Q1 2023-24 were the US, China, and the UK, according to data from the State Bank of Pakistan. Although there were fluctuations, exports to the US totaled $1.38 billion, while exports to China reached $633.37 million. The UK was the third-largest market with $518.95 million in exports. Other key destinations included the UAE and Germany.

The Rice Research Station in Bahawalnagar struggles to make breakthroughs in Pakistan’s rice industry despite its state-of-the-art facilities and resources, hindering the development of new rice varieties and impeding the improvement of rice quality and production.

Subscribe to Argus Breaking News alerts to stay updated with the latest news. Get breaking stories and video content delivered throughout the day, with the flexibility to turn off alerts at any time. Customize your news experience and be the first to know by signing up today.

Arsenal midfielder Declan Rice is set to make an emotional return to his former club West Ham in the League Cup clash, according to manager Mikel Arteta. Despite his high-profile transfer, Arteta expects Rice to receive a warm welcome from the club and its fans.

Pakistani traders have imported over 1.3 million metric tons of wheat to address the shortage and stabilize commodity prices. Wheat from Russia, Romania, Bulgaria, and Ukraine is being imported at a price range of $280 to $290 per metric ton. The arrival of imported wheat is gradually decreasing wheat flour prices in the domestic market, with further declines expected. The private sector is working closely with the Department of Plant Protection to ensure timely availability of wheat. (Source: Business Recorder)

Developed countries are failing to meet emission reduction commitments and shifting the burden onto developing nations like India and China, while only a few are on track to achieve net-zero emissions. Their lack of responsibility will have severe consequences for the Global South.

Vietnam’s rice export prices hit a record high, driven by increasing global demand for high-quality rice. Farmers in various provinces are receiving higher prices for their crops, with prices climbing up to VND9,000 per kilogram. This surge in prices is attributed to the improvement in Vietnamese rice quality and a decrease in supply due to lower yields. Despite challenges, experts predict that Vietnam’s rice exports could reach a record-breaking 7.8 million tons worth $4.5 million this year.

The Pakistan-Turkey Trade in Goods Agreement has led to a bilateral trade volume of over $1 billion in the fiscal year 2023-24, with expectations of further growth. Priority sectors for cooperation include textiles, sports goods, surgical equipment, rice, fruits and vegetables, and construction materials. The Free Trade Agreement is expected to be signed by early 2024.

Escape the hustle and bustle of the city and experience pure relaxation at Breeze Spa in Amari Johor Bahru. With private treatment rooms, luxurious massages, unique body treatments, and a retail boutique, guests can indulge in a truly rejuvenating wellness experience. Book now for a luxurious spa experience like no other.