Category: Business

SHENZHEN: Chinese telecom giant Huawei filed a motion for summary judgment as part of a process to challenge the constitutionality of the 2019 National Defense Authorization Act, as parts of its continuing efforts to challenge the US government for unfair treatment and speed up the process, Chinese media reported Wednesday. Politicians in the US are […]

LONDON: Abraaj Group founder Arif Naqvi has been released on bail after arranging for the payment of £15 million – the largest security ever ordered in the UK’s judicial history. A source at the Westminster Magistrates Court confirmed to The News that the Pakistani businessman and philanthropist has been released from Wandsworth Prison after £15 […]

KARACHI: The 660MW Unit 2 of the China Power Hub Generation Company was successfully synchronized with the national grid of Pakistan on May 28, 2019 as per schedule. The synchronization, an important milestone towards the commercial operations of the coal-fired power plant, comes exactly 5 months to the day when Unit 1 of the Project […]

ISLAMABAD: The export of fruits from the country witnessed an increase of 6.37 percent during the first 10 months of current fiscal year against the exports of the corresponding period of last year. The fruits” export from the country were recorded at $ 380.869 million during July-April (2018-19) against the exports of $358.062 million during […]

ISLAMABAD: The deficit of Pakistan Railways has decreased by Rs 0.059 billion (0.24%) despite the increase of expenditure on account of pay, pension and fuel from July 2018 to March 2019 as compared to the corresponding period of the last financial year. Pakistan Railways has spent Rs 1.207 billion on account of pay, Rs 0.0468 […]

Falling demand coupled with a surge in supply pushed dollar’s price in open market on Monday to Rs149.50 — down half a rupee from the Rs150 rate in the preceding session. In the interbank market, the greenback traded at Rs149.60 as compared to Rs150.90 in the last session, posting a decline of Rs1.30. According to […]

ISLAMABAD: With crucial meetings of the National Economic Council (NEC) and the federal cabinet lined up for the next few days, the government on Sunday firmed up budget proposals, including targets for taxation measures, for 2019-20. Sources said a meeting presided over by Prime Minister’s Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh discussed […]

This has been a bad year financially and economically. Almost all the major economic indicators have moved south as uncertainty prevailed along the last 10 months of the current fiscal year that badly affected investor and public confidence. Public finances appeared completely out of hand. It was generally on the basis of this summary that […]

A mature crop of mangoes is yet to be fully available in the market amidst reports of substantial decline in production — mainly in sindhri variety — apparently due to climate change-driven variations in weather. Extended winter, unusual summer rains, winds and hailstorms are factors that adversely affected the crop. But there is good news […]

Toyota Motor’s Japan Taxi, born in a government committee and designed to be an all-things-to-all-people cab, has become a high-priced icon of Tokyo’s budget-busting 2020 Olympic and Paralympic Games. Launched in 2017, the indigo car is the realisation of a government project to put a taxi on Japan’s roads that could carry wheelchair users, luggage-laden […]