PARIS: Global warming and heatwaves are expected to further increase food prices and overall inflation across the world in future, according to new research from scientists and the European Central Bank. The impact will vary but be felt everywhere, especially in developing nations, said the paper published in the journal Communications Earth and Environment this week. Extreme weather — including …

MUMBAI: India has extended its ban on onion exports indefinitely —a surprise move that comes ahead of a general election and is set to exacerbate high prices in some overseas markets. Imposed by India — the world’s biggest exporter of the vegetable — in December, the ban was due to expire on March 31. Traders had anticipated it would be …

KARACHI: The stock market largely maintained a bullish tone in the outgoing week aided by a policy rate status quo and the reaching of a Staff-Level Agreement (SLA) with the International Monetary Fund despite some investor concerns about certain harsh conditions for the release of the last tranche of $1.1bn under the current Stand-By Arrangement (SBA). AKD Securities Ltd said the outgoing week commenced …

ISLAMABAD: Only a day after announcing formation of seven committees of the cabinet, Prime Minister Shehbaz Sharif has decided to hand over the chairmanship of the Economic Coordination Committee (ECC) to Finance Minister Muhammad Aurangzeb, sources in the government told Dawn. The prime minister, however, will continue to head the Cabinet Committee on Energy (CCoE), they said, adding the prime minister took the …

KARACHI: In the aftermath of a significant crackdown on the jewellery sector in September aimed at curbing speculation and smuggling, the only benefit that appears in sight so far has been the advancement of daily bullion rate announcements by three to four hours. Previously, these rates were released around sunset. However, a series of commitments made by the bullion trade representatives to …

SHANGHAI: Chinese Commerce Minister Wang Wentao has met top executives of global companies including Apple Inc and SK Hynix Inc ahead of a major business conference as Beijing woos foreign investors amid geopolitical and trade tensions. In the meetings with Apple CEO Tim Cook, Hynix CEO Kwak Noh-Jung and other global chiefs on Friday and Saturday, Wang said China was …

MUMBAI: India has extended its ban on onion exports indefinitely —a surprise move that comes ahead of a general election and is set to exacerbate high prices in some overseas markets. Imposed by India — the world’s biggest exporter of the vegetable — in December, the ban was due to expire on March 31. Traders had anticipated it would be …

HONG KONG: A new national security law came into force in Hong Kong on Saturday despite growing international criticism that it could erode freedoms in the China-ruled city and damage its international financial hub credentials. The law, also known as Article 23, took effect at midnight, days after Hong Kong’s pro-Beijing lawmakers passed it unanimously, fast-tracking legislation to plug what …

LAHORE: Adding another layer of cruelty to the already vicious business of human trafficking, notorious human smugglers have started taking advantage of Pakistani immigrants trying to illegally reach Europe via Iran by holding them for ransom. The smugglers in Pakistan with the help of their sub-agents detain and torture immigrants aspiring to reach Europe, film the ordeal, and send it …

RIO DE JANEIRO: A powerful storm has claimed at least nine lives in southeastern Brazil, particularly in the mountainous part of Rio de Janeiro state, where authorities on Saturday deployed rescue teams to deal with a “critical” situation. Three people died in a house collapse in the city of Petropolis, 70 kilometers (45 miles) from the capital, according to a …