Category: Business

Nissan’s chief executive officer will step down next week, the board said on Monday, deepening the crisis at the Japanese car giant still reeling from the arrest and ouster of former chief Carlos Ghosn’s over alleged financial misconduct. It is yet another blow for the firm that has seen sales plunge and been forced to […]

British Airways said on Monday it has been forced to cancel almost all its flights from UK airports on the first day of a strike by pilots. “After many months of trying to resolve the pay dispute, we are extremely sorry that it has come to this,” BA said in a statement. The airline said […]

RIYADH: Saudi Arabia’s King Salman on Sunday replaced the energy minister with one of his sons, state media said, in a major shakeup as the OPEC kingpin reels from low oil prices. The appointment of Prince Abdulaziz bin Salman, half-brother to de facto ruler Crown Prince Mohammed bin Salman, marks the first time a royal […]

ISLAMABAD: Amid the federal cabinet decision to incentivise future LNG terminals, the Port Qasim Authority (PQA) will charge about $25 million upfront charges each to five potential LNG terminal operators that may increase their re-gasification tariff. A meeting of the federal cabinet presided over by Prime Minister Imran Khan a few days ago approved a […]

You should be suspicious if someone tries to sell you Clifton Bridge at a bargain price. But what if they claim they can recycle Karachi’s sea- and wastewater at a mass and affordable level to practically end the city-wide water shortages once and for all? Your answer should depend on whether the guy offering a […]

ISLAMABAD: The government on Friday said its reform agenda signed with International Monetary Fund (IMF) was on track and the progress so far on nearly all the performance and structural benchmarks for first quarter of the current fiscal year were very encouraging with strong indication that all the targets will be met. “The progress on […]

ISLAMABAD: Prime Minister Imran Khan has directed authorities concerned to initiate inspection-less regime to facilitate the growth and promotion of small and medium enterprises (SMEs). Presiding over a meeting of his economic team, the premier noted promotion of construction and agriculture sectors along with protection of rights of workers and labourers was essential for the […]

SINGAPORE: A spot tender by Pakistan LNG to buy 10 liquefied natural gas (LNG) cargoes for delivery in the fourth quarter received strong interest from various companies including Japanese and Chinese, according to a company document. Commodity trader Gunvor submitted the lowest bids for six cargo delivery slots out of the 10 cargoes, a document […]

ISLAMABAD: Adviser to PM on Commerce, Textile, Industries and Production, and Investment Abdul Razak Dawood on Thursday urged Saudi Arabian companies to invest in Pakistan’s power sector to get high returns on their investment. A delegation of Saudi companies, led by Deputy Minister of Energy, Industry and Mineral Resources for Mining Khalid Saleh Al-Modaifer and […]

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has asked the Customs Department to update new units of measurement within a week in accordance with the World Customs Organisation (WCO) guidelines to address the difficulties faced by importers and exporters. The statement said the move will help improve ease of doing business. The WCO […]