Category: Business

ISLAMABAD: The large-scale manufacturing (LSM) sector shrank 3.78 per cent during May from a year ago, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. The contraction came amid dismal performance in the fertiliser, leather, pharmaceutical, and chemical sectors raising fears of large-scale layoffs in the industrial sector. On a year-on-year basis, the LSM dipped […]

LAHORE: The automotive industry fears that amid declining auto sales, the sector is likely to lose at least 10-15 per cent of the direct jobs over the next few months. Warning of tough times ahead, they said rising auto prices on the back of steep currency depreciation, imposition of federal excise duty in the range […]

ISLAMABAD: A Chinese firm is working on comprehensive business plan to provide five important services in Pakistan, initially investing $20 million, with future prospects of $600m. Chinese company Timesaco intends to provide a rapid services platform to citizens by launching five special services including a taxi service, heavy cargo delivery , orders delivery, moving automated […]

KARACHI: The tenure of repayment on financing for development loans in crop and non-crop sectors has been doubled to 10 years, the State Bank announced on Wednesday. In a circular to banks with amendments in Prudential Regulations for Agriculture Financing, the SBP said that the maximum repayment tenure of development loans has been increased from […]

BRUSSELS: The EU said the bloc’s 28 member states held great responsibility for the wave of money-laundering scandals hitting the continent Wednesday, urging tighter and more centralised control of banking. “We have stringent anti-money laundering rules at EU level, but we need all member states to implement these rules on the ground,” said Vera Jourova. […]

Minister for Human Rights Dr Shireen Mazari on Wednesday refuted the impression that the Federal Board of Revenue (FBR) has made it mandatory for women to furnish the Computerised National Identity Card (CNIC) of their husband or father while making a purchase of over Rs50,000 from a registered sales tax seller. The minister’s statement, which […]

WASHINGTON: The Inter­na­tional Monetary Fund on Tuesday lowered its forecast for global growth this year and next, warning that further US-China tariffs or a disorderly exit for Britain from the European Union could further slow growth, weaken investment and disrupt supply chains. The IMF said downside risks had intensified and it now expected global economic […]

MUMBAI: An increase in government borrowing runs the risk of flooding the debt market, and puts upward pressure on interest rates, making it more expensive for companies to borrow, said outgoing Reserve Bank of India Deputy Governor Viral Acharya. In a lecture published on the Federal Bank website late on Monday, Acharya said India’s borrowing […]

KARACHI: Stocks ex­­tended gains for the third day as investors were ins­pired by the outcome of meeting between Prime Minister Imran Khan and US President Donald Trump. The KSE-100 index went up 131.33 points (0.40 per cent) and closed at 32,715.88. All eyes were focused on the premier’s visit to the US. Government sources were […]

KARACHI: Despite dec­lining trend on the international markets, leading packers have decided to raise tea prices from first week of next month, retailers in various areas told Dawnon Tuesday. Sharing some examples, they said leading distributors have informed them of revised rates for the 1kg and 385 gram tea packs at Rs950 and Rs425 compared to […]