Bangladesh may have higher gas reserves than estimatedSeptember 18th, 2009 DHAKA - Bangladesh may have surplus gas reserves, something past governments have denied, as per revised estimates being examined by Prime Minister Sheikh Hasina's government. Hasina told a meeting with energy officials Thursday that it was "good news for the country" that the gas reserve at Bibiyana, the country's second-largest, was much higher than the earlier estimate.
Musharraf says he will return to Pak soonSeptember 7th, 2009 ISLAMABAD - Former President Pervez Musharraf has said that he will soon return to Pakistan to be among the people of the country. Talking to a delegation in London led by Pakistan Muslim League (Q) leader Amir Muqam, Musharraf called for unity between two factions of the PML-Q.
White House, Congress both predict $1.6 trillion deficit, differ on longer-term shortfallAugust 25th, 2009 Congress projects smaller deficit than White HouseWASHINGTON — Congressional budget analysts project a cumulative $7 trillion deficit from 2010-2019, a figure roughly $2 trillion less than the one projected by the White House budget office. The nonpartisan Congressional Budget Office, in a report that came out on the same day as the White House midyear budget review, said the deficit this year will total $1.6 trillion and that putting the nation on a sustainable fiscal course will require a mix of lower spending and higher tax revenues than the amounts now projected.
Currency worth over Rs.1 tn circulating in PakistanAugust 13th, 2009 ISLAMABAD - Currency worth Rs.1.2231 trillion ($15 billion) is circulating in Pakistan in the form of 4.1588 billion notes, the National Assembly, the lower house of parliament, was informed Thursday. State Bank of Pakistan and commercial banks had foreign exchange reserves of $11.68 billion as on Aug 4, Finance Minister Shaukat Tareen said in a written reply.
Pak to seek 3.1 billion dollar additional IMF loanAugust 7th, 2009 ISLAMABAD - Pakistan Prime Minister Yousuf Raza Gilani's financial adviser Shaukat Tarin has said that Islamabad will approach the International Monetary Fund for an additional loan of 3.1 billion dollars in a bid to avoid a balance of payment problem in the current fiscal. The IMF board of directors is scheduled to consider Islamabad's request for an additional loan on Friday.
Central bank says China's foreign reserves have risen to $2.13 trillionJuly 15th, 2009 China's foreign reserves rise to $2.13 trillionBEIJING — China's foreign reserves rose to $2.13 trillion at the end of June despite a trade slump, data showed Wednesday, and analysts said that suggested the flow of foreign money into stocks and real estate was rising. The reserves, already the world's largest, expanded by 17.8 percent or $186 billion over the first half of the year, the central bank said.
Fears over Pak minister's company financing terror outfits grow strongerJune 27th, 2009 ISLAMABAD - With the dismissal of the bail pleas of three employees of a forex company owned by the Minister of State for Kashmir Affairs and Northern Areas, Abdul Raziq, it seems that there could be something more sinister than what really meets the eye regarding the multi-billion rupees forex scam involving the minister's company. A Lahore court dismissed the bail applications of three employees who worked for the Malik Exchange Company, after they failed to appear before it despite repeated appeals.
List of companies and oil fields in Iraq's first postwar biddingJune 25th, 2009 Iraq's first postwar oil bidding for oil contractsIraq is scheduled to open its first postwar bidding for oil service contracts on Monday. International oil companies were expelled by Saddam Hussein more than 30 years ago.
BP says world's proved oil reserves fell in 2008, first drop in a decadeJune 10th, 2009 BP says world's proved oil reserves fell in 2008LONDON — The world's proved oil reserves fell in 2008, the first drop in a decade, oil company BP PLC said Wednesday. Proved reserves of 1.258 trillion barrels in 2008 was 3 billion barrels less than in 2007, the company said.
China's foreign financial assets rise to $2.92 trillionMay 20th, 2009 BEIJING - China's foreign financial assets increased by 23 percent from a year earlier to $2.92 trillion by the end of last year, officials said Wednesday. The country's net foreign financial assets rose 31 percent year on year to $1.52 trillion last year, the State Administration of Foreign Exchange (SAFE) said.
China fifth largest holder of gold in the worldApril 25th, 2009 NEW DELHI - China earned 82.5 billion dollars from nearly two trillion dollars in foreign exchange reserves last year, and is now the fifth largest holder of gold in the world. The United States owns the largest gold deposits followed by Germany, France and Italy.
China reports 76 percent increase in gold reserves since 2003 as foreign assets growApril 24th, 2009 China reports 76 percent increase in gold reservesBEIJING — China has increased its gold reserves by 76 percent since 2003 to 1,054 tons and now ranks fifth among nations with the biggest holdings, a state news agency reported Friday. The figure reported by the Xinhua News Agency would rank China behind the United States, Germany, France and Italy in reserves, according to data from the World Gold Council, an industry group.
China's GDP up 6.1 percent in first quarterApril 16th, 2009 BEIJING - China's economy expanded by 6.1 percent year-on-year in the first quarter, official data showed Thursday. The quarterly growth rate was the lowest in 10 years as the global financial crisis continued to affect the world's fastest-growing economy.
China's fiscal revenue in March down 0.3 percentApril 13th, 2009 BEIJING - China's fiscal revenue in March 2009 was 440.22 billion yuan ($64.43 billion), 0.3 percent less than the figure in March 2008, the ministry of finance said Monday. First-quarter fiscal revenue fell 8.3 percent to 1.46 trillion yuan, the ministry said on its website, while tax revenue shrank 10.3 percent to 1.3 trillion yuan.
China's foreign trade to hit $2.6 trillion in 2008December 22nd, 2008 BEIJING - China's total volume of foreign trade is expected to reach $2.6 trillion in 2008, up from $2.17 trillion last year, Commerce Minister Chen Deming said Tuesday. The country's foreign investment is expected to hit $95 billion, up from $74.8 billion, Chen said.
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