Category: Business

BEIJING: China said on Monday it will raise tariffs on $60 billion worth of US goods from June 1, in retaliation for the latest round of US tariff hikes and Washington’s plans to target almost all Chinese imports. The announcement came after the latest round of US-China trade negotiations ended on Friday without a deal, […]

ISLAMABAD: Pakistan’s talks with the International Monetary Fund (IMF) on a bailout package remained inconclusive on Friday, dashing expectations that the government was ready to sign on the dotted line. In a late-night message, the finance ministry said only that “we have made good progress in our discussions with the visiting IMF mission. Consultations will […]

WASHINGTON: President Donald Trump said on Friday he was in no hurry to reach a deal with Beijing as high-stakes trade talks resumed, arguing the US was negotiating from a position of strength. Just hours earlier, the United States had increased punitive duties on $200 billion in Chinese imports from 10 to 25 per cent, […]

ISLAMABAD: The government has called a meeting of the Annual Plan Coordination Committee (APCC) on May 20 to approve a developmental portfolio of about Rs1.57 trillion for next fiscal year, about 10 per cent lower than current fiscal year. A senior government official told Dawn that the Planning Commission was working on a federal Public […]

KARACHI: Investors at the Bin Qasim Industrial Park (BQIP) are in a quandary as the K-Electric (KE) has failed to energise their plants after a delay of more than 40 days. Earlier on Feb 11, four investors met with the KE management which agreed to provide utilities to the projects being set up by these […]

LONDON: Britain’s economy got a sharp one-off boost in the first three months of 2019, official figures showed on Friday, as manufacturers rushed to deliver orders before a Brexit that never came. Gross domestic product grew at a quarterly rate of 0.5 per cent in the first quarter of 2019 after a sluggish 0.2pc in […]

KARACHI: Remittances received by the country jumped by 8.45 per cent to $17.87 billion in 10 months of this fiscal year, the State Bank of Pakistan reported on Friday. This represented an increase of $1.394bn from $16.481bn recorded in inflows recorded in 10MFY18. Pakistan has been struggling to cut the size of current account deficit […]

KARACHI: Investors at the stock market, trapped in a tight bear hug, suffered losses for third day in a row as the KSE-100 index declined by 171.11 points (0.49 per cent) to close at 34,716.53. The index has sunk by 2,400 points in two weeks which has wiped off much of the value of investors’ […]

NEW YORK: Uber Technologies Inc’s shares fell nearly 9 per cent in their New York Stock Exchange debut on Friday, marking a rocky start for one of the most high-profile US companies to go public since Facebook Inc seven years ago. The fall in shares undermined Uber’s strategy of pricing its oversubscribed IPO conservatively at […]

LONDON: The founder of Abraaj Group, once one of the largest emerging markets private equity investors, has been given more time to raise a £15 million ($19.5m) bail by a London court, a court official said on Friday. Arif Naqvi was arrested in Britain last month and has been awaiting possible extradition to the United […]