Category: Business

ISLAMABAD: Prime Minister Imran Khan on Monday announced that the government was forming a ‘China-Pakistan Economic Corridor Authority (CPECA)’ to ensure timely completion of corridor’s projects. Presiding over a meeting at the Prime Minister Office, PM Khan said: “To ensure uninterrupted progress on CPEC projects, CPEC Authority is being formed.” He said the CEPCA would […]

TRURO: Prime Minister Boris Johnson called on France and Germany on Monday to change their position on Brexit and negotiate a new exit deal for Britain, reiterating his stance that he is ready to leave the European Union without a deal if they do not. With Britain set to leave the bloc on Oct 31, […]

ISLAMABAD: The large-scale manufacturing (LSM) sector shrank by 3.64 per cent in 2018-19 against the growth projection target of 8.1pc for the outgoing fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Monday. In June, the last month of the outgoing fiscal year, the big industry posted a negative growth of 5.05pc on a […]

KARACHI: The stock market snapped the eight-day losing streak on Monday when the KSE-100 Index staged a surprise comeback and powered past the 29,000 level, adding 797.79 points (2.8 per cent) to close at 29,562.42. Although providing a major relief to the investors drowned in misery, sell side analysts cautioned that it was too early […]

KARACHI: The first month of 2019-20 started off on a depressing note for the auto sector with 23 per cent and 42pc declines in car production and sales respectively to 16,472 and 10,968 units. The key contributor to this lower production was the closure of production by Honda Atlas Cars from July 12-21besides observing Saturday […]

ISLAMABAD: The government confirmed on Sun­day successful commercial operations of a $2 billion 1,320MW coal-fired power plant set up by the China Power Hub Generation Company (CPHGC) under the China-Pakistan Econo­mic Corridor (CPEC) project. “M/s CPHGC has successfully undergone through commissioning tests as per the agreed procedure. The engineer has certified the successful commissioning of […]

LAHORE: Two task forces on civil service reforms — austerity and restructuring — have recommended that the National Accountability Bureau (NAB) should not proceed against a serving or retired civil servant without the approval of supervisory committees at the federal and provincial levels. The decision to forward these recommendations to the federal government was taken […]

ISLAMABAD: The government has stopped production of cheap gas from two major fields and drastically reduced production from a third one to ensure smooth flow of expensive imported liquefied natural gas (LNG) into the gas network facing capacity constraints. A senior petroleum ministry official said gas production from the country’s oldest Sui field in Balochistan […]

President Donald Trump said on Sunday the economy is “doing very well” and dismissed concerns of recession, offering an optimistic outlook after last week’s steep drop in the financial markets. “I don’t think we’re having a recession,” Trump told reporters as he returned to Washington from his New Jersey golf club. “We’re doing tremendously well. […]

In July, Pakistanis had to pay 14.8 per cent more than they did a year ago for 53 essential items of daily life. The increase in the prices of these 53 items in July 2018 over the preceding year was just 4.5pc. In technical terms, annualised inflation measured through the Sensitive Price Index (SPI) for […]