Category: Business

ISLAMABAD: Private housing society Bahria Town has offered Rs9 billion in order to get rid of a reference filed by the National Accountability Bureau (NAB) against encroachment on 6,000-kanal forest land in the Rakh Takht Pari area of Rawalpindi district. The Bahria Town submitted the proposal to the Supreme Court in response to an order […]

LAHORE: Textile exporters and the government appear inching closer to breaking the deadlock over a key budget proposal withdrawing sales tax exemptions to five industries under the zero-rated export regime from the next financial year as the former seems to have resigned to the new situation arising from Islamabad’s deal with the International Monetary Fund […]

KARACHI: The Karachi Port for over two decades has been striving to get direct connectivity for the haulage of cargo with the country’s highways (Super Highway/M-9) but the plans couldn’t materialise due to non-cooperation of city, provincial and federal bodies. As a result, the port is almost clogged with rising volume of external trade passing […]

SAINT PETERSBURG: China’s Xi Jinping and Russia’s Vladimir Putin hit back at US global economic dominance on Friday as they took the stage together at Russia’s showcase business forum. With China embroiled in a trade war with Washington and Russia under Western sanctions, Xi and Putin lashed out at “inequalities” in the global economic system […]

Huawei Technologies has signed an agreement with Russian telecom company MTS to develop 5G networks in the country over the next year. The deal was signed on Wednesday in Moscow, as Chinese President Xi Jinping and his Russian counterpart Vladimir Putin looked on. MTS said in a statement that it plans to work with Huawei […]

Toyota Motor Corp aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electricity-powered cars. The change illustrates the breakneck growth in the electric vehicle (EV) market, which is transforming the auto industry, and […]

Alphabet Inc’s Google warned if the United States administration moves ahead with the sweeping ban on Huawei Technologies Co Ltd, it risks compromising national security, the *Financial Times* reported on Thursday. Google’s move comes as the world’s two top economies ratchet up tariffs in a battle over what US officials call China’s unfair trade practices. While […]

The International Monetary Fund on Thursday warned the United States that escalating trade disputes or an abrupt downturn in financial markets could pose substantial risks for the US economy. The international lender, in a review of US policies, said the US economy was on track to grow 2.6 per cent this year. That was quicker […]

MUMBAI:  India’s notable business tycoon Mukesh Ambani’s house Antilia – located at Altamount road, Cumballa Hill in Mumbai – is the world’s second most expensive private residential property. The house is reportedly worth $2 billion and with that it has been deemed as the world’s most valuable residential property after Buckingham palace. Undoubtedly, with its […]

Italian-American carmaker Fiat Chrysler on Thursday said it had withdrawn a proposal for a merger with Renault, saying it would be unable to reach an agreement with the French government. Fiat Chrysler (FCA) “remains firmly convinced” of the interest of its offer but “political conditions do not currently exist in France to carry out such […]