Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Pakistani Basmati export to KSA, UAE suffers setback

Indian government has given the green light for the export of 75,000 tonnes of non-basmati white rice to the UAE.
  • Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of its rice from India
  • He; however, expressed the hope that the outcome of Prime Minister Imran Khan’s recent visit to Saudi Arabia may have some positive impact on the export of rice

Pakistan Commerce Ministry said on Monday that export of Basmati rice to Saudi Arabia, United Arab Emirates (UAE)  was hit badly after the Saudi investors either purchased or established rice mills in India, which are exporting the produce to Saudi Arabia.

Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi shared the plans of his ministry to boost exports of agri products.

He said that Saudi Arabia imports 80 percent of its rice from India.  He; however, expressed the hope that the outcome of Prime Minister Imran Khan’s recent visit to Saudi Arabia may have some positive impact on the export of rice.

Zaidi further stated that export of Pakistani Basmati rice to Kenya has been hit badly, but he did not share details.

Last year, however, Pakistan’s exports to Saudi Arabia had shown 35.4 percent increase following boost in demand from the oil kingdom.  At the time, India’s virus lockdown had further opened the mid eastern market for Pakistani rice.