Business

Islamabad, Oct 8 (PTI) Prime Minister Imran Khan on Monday said that a strong bilateral relationship with China is the cornerstone of the Pakistan's foreign policy.

Khan chaired a high-level meeting with his Cabinet colleagues and discussed his maiden tour to China next month during which matters related to the China-Pakistan Economic Corridor (CPEC) is to be discussed, the Express Tribune reported.

Dholpur (Rajasthan), Oct 9 (PTI) Taking his attack against Prime Minister Narendra Modi to poll-bound Rajasthan, Congress president Rahul Gandhi Tuesday said demonetisation and the Goods and Services Tax, which he referred to as Gabbar Singh Tax, had destroyed India's economy.

Addressing a rally in Dholpur's Mania area, Gandhi said the prime minister had declared during elections that he wanted to be a 'chowkidar' but never clarified who he wanted to guard. The Congress president alleged that he benefited 15-20 industrialists of the country instead of farmers.

8 Oct 2018; PTI: The rupee slumped by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar on Monday amid strengthening of the greenback and steady capital outflows.

The rupee had opened lower by 14 paisa against Friday’s close of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee sentiment.

At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 73.89 a dollar against its previous closing of 73.76.

MOSCOW, October 7. /TASS/. The idea of weaning the Russian economy off the dollar does not envisage any restrictions on using the greenback by Russians and the government has never had any plans to convert dollar deposits into rubles, Finance Minister and First Deputy Prime Minister Anton Siluanov said in an interview with the program "Moscow. Kremlin. Putin" of the Rossiya-1 TV channel on Sunday.

MOSCOW, October 7. /TASS/. De-dollarization does not imply refusal of the dollar, CEO of Russia’s VTB bank Anderi Kostin said on Sunday.

"Several words have been said about the refusal of the dollar. I would like to say that, first, no one is speaking about the refusal of the dollar. Moreover, the so-called de-dollarization program does not envisage any restrictive, the more so, prohibitive measures in respect of the dollar neither for people nor for corporations," he told the Tolstoy. Sunday program on the Rossiye-1 television channel.

BEIJING, Oct. 8 (Xinhua) -- Chinese State Councilor and Foreign Minister Wang Yi on Monday met with visiting U.S. Secretary of State Mike Pompeo, saying that China and the United States should follow the right path of win-win cooperation, rather than go astray toward conflict and confrontation.

Wang said Pompeo proposed his visit to China and the Chinese side was willing to arrange meetings.

BEIJING, Oct. 7 (Xinhua) -- China's accumulated outbound direct investment (ODI) reached over 1.8 trillion U.S. dollars by the end of 2017, moving up to the second place in the world rankings, according to an official report.

"China has made investment in 189 countries and regions globally, with its accumulated ODI accounting for 5.9 percent of the world's total," said Zhang Xingfu, an official with the Ministry of Commerce (MOC).

Washington, Oct 7; PTI: For India, getting a presidential waiver from the biting CAATSA sanctions might not be that easy, some American experts believe referring to the changing political dynamics within the administration and President Donald Trump's personal strong views against New Delhi's trade and tariff policies and calling it a "tariff king".

New Delhi, Oct 7 (PTI) Within a day of the one-off excise duty cut and PSUs subsidising fuel, petrol and diesel prices are on the rise again and have hit a three week high.

Petrol and diesel prices were cut by a minimum Rs 2.50 on October 5 when the government's only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction local sales tax or VAT.

MOSCOW, October 6. /TASS/. The US has embarked on a deliberate course of ending the Intermediate-Range Nuclear Forces Treaty (INF) in order to remove all obstacles for containing Russia on the international arena, experts told TASS on Friday.