Category: Business

ISLAMABAD: The business community on Tuesday expressed hope that Prime Minister Imran Khan’s ongoing visit to the United States of America would bring the two countries closer besides seeking direct market access on zero rate duty to help stabilise its economy. In a press statement, Founder Chairman Pak-US Business Council Iftikhar Ali Malik said Pakistan […]

BEIJING: China is in “no rush” to add a monetary stimulus to cope with downward pressure on the world’s number-two economy, the head of the country’s central bank said on Tuesday. A lingering trade war with the United States and cooling growth has raised expectations that Beijing may resort to an a round of stimulus […]

LONDON: London’s tran­s­port authority on Tuesday said it had granted Uber an extension, but only for two months awaiting evidence that the ride-hailing service was meeting new demands regarding passenger safety. Transport for London (TfL) could have granted the American giant a five-year licence following expiry of a 15-month agreement. “Uber London Limited (ULL) has […]

The Pakistan Bureau of Statistics (PBS) has issued details of its new mechanism for mapping the Consumer Price Index (CPI). CPI inflation is widely used for making policy and investment decisions, and can impact the course of central bank interest rates as well as the future cost of long-term investments. Earlier, PBS had measured CPI inflation using […]

KARACHI: The government’s borrowing from the scheduled banks jumped by 99 per cent within a week ended on Sept 13, reported State Bank on Monday. During the week from Sept 6 to Sept 13, the government’s borrowings increased by Rs443.5 billion to Rs899bn. This is almost equal to the amount it borrowed (Rs455.8bn) since July […]

KARACHI: The poultry industry has jacked up live bird and chicken meat prices to an all-time high of Rs270-280 and Rs480-500 per kg, respectively, denting the household budget hard in the current month. Retailers attributed the rising prices to dwindling supplies from farms against soaring demand due to the marriage season which started after Ashura. […]

ISLAMABAD: Mainly supported by the International Monetary Fund (IMF) programme, Pakistan has secured $1.622 billion foreign inflows in the first two months (July-August) of the current fiscal year – almost 100 per cent higher than $820 million last year. The latest data of the Economic Affairs Division on foreign assistance, a classification in which they […]

ISLAMABAD: The Drug Regulatory Authority of Pakistan (Drap) on Monday directed tens of companies across the country to stop manufacturing medicines made with the raw material ‘Ranitidine’ — including Zantac — and recall all such products already on the market. The substance is used for the treatment of stomach acidity and related discomforts. The directive […]

ISLAMABAD: The Board of Directors of the National Disaster Risk Management Fund (NDRMF) has approved 10 projects for disaster risk reduction at a cost of Rs4.9 billion, including a grant financing of Rs3.6bn. A meeting of the board presided over by Finance Secretary Naveed Kamran Baloch here on Monday was attended by Asian Deve­lo­pment Bank’s […]

US securities regulators on Monday charged Japanese automaker Nissan and its former CEO Carlos Ghosn with hiding more than $140 million in Ghosn’s expected retirement income from investors. Ghosn will pay $1m in fines to settle the matter without admitting wrongdoing, and will be barred from serving as a corporate executive for 10 years, the […]