Category: Business

The UN’s nuclear watchdog said Friday it will hold a special meeting on Iran’s nuclear programme next week, days after Tehran breached one of the limits set in a 2015 deal with world powers. The meeting of the International Atomic Energy Agency (IAEA)’s board of governors would be held “on 10 July at 14:30,” an […]

LAHORE: A large number of traders representing various associations and chambers across the province have termed the current economic situation as the worst ever in the country’s history. While sharing their views at ‘Tajir Bachao Conference’ held at Aiwan-i-Iqbal Complex on Friday, they said the government should work on ease of doing business instead of […]

ISLAMABAD: Pakistan and Iran on Friday agreed on the need to constitute a committee to identify goods for promotion of barter trade. The decision was reached at the concluding session of the 8th Pakistan-Iran Joint Trade Committee. The Pakistani delegation was led by Adviser to the Prime Minister on Commerce Razak Dawood while Iranian side […]

NEW DELHI: Prime Minister Narendra Modi on Friday hailed a “new chapter for India” as his re-elected government unveiled what he called a “green” budget aimed at reviving growth and creating a $5-trillion economy. India was recently leap-frogged by China as the world’s fastest-growing major country, with unemployment in Asia’s third-biggest economy at its highest […]

NIAMEY: A landmark African free trade zone due to be ceremonially launched at a summit in Niger this weekend is expected to take effect from July 2020, the African Union (AU) trade commissioner said Friday. “We have recommended to the summit that the actual date of trading should be the July 1, 2020,” Albert Muchanga, […]

KARACHI: Market remained on the slippery slope for the second day with the KSE-100 index tumbling 380.60 points (1.10 per cent) and settled for the week-end at 34,190.02. As the euphoria over the approval of the $6 billion loan by the International Monetary Fund (IMF) Executive Board fizzled out, there was no positive trigger, while […]

The Asian Development Bank (ABD) has approved a $235 million loan to develop Karachi’s Bus Rapid Transit project. According to a press release issued by the ADB on Friday, the Karachi BRT Red Line Project will deliver the 26.6 kilometres BRT Line Red Line and its associated facilities, which they said will benefit 1.5 million individuals, who […]

Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 56 per cent from a year earlier amid a weak market for memory chips. The South Korean tech giant estimated an operating profit of 6.5 trillion won ($5.5 billion) for the April-June quarter, which would represent a 56.3pc drop […]

ISLAMABAD / WASHING­TON: Pakistan on Thursday welcomed $6bn bailout package approved by the executive board of the International Monetary Fund (IMF), saying it would lead to inflows of $38bn from other lenders in three years. Speaking at a hurriedly called news conference, PM’s Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh said the approval of 39-month […]

ISLAMABAD: Prime Minister Imran Khan on Thursday directed the Federal Board of Revenue (FBR) to launch a massive crackdown on holders of benami assets. However, he asked the FBR not to harass the business community and industrialists as without their cooperation the country could not get rid of the prevailing financial crunch. Presiding over a […]