Category: Business

QUETTA: Chief Minister Jam Kamal Khan Alyani has appointed Minister for Higher Education and Information Mir Zahoor Ahmed Buledi as new finance minister of Balochistan. However, as a result of changes made in the cabinet on Monday, the portfolio of higher education was withdrawn from Mr Buledi. He will continue to hold the portfolio of […]

Days after Asad Umar’s departure as finance minister, Chinese ambassador to Pakistan Lijian Zhao praised the Pakistan Tehreek-i-Insaf stalwart on Twitter as a “man of integrity” who “dares to speak the truth”. Zhao shared a clip of an interview Umar gave to Stephen Sackur on BBC News’ programme Hard Talk in December last year, in which the then finance minister had chastised Western […]

ISLAMABAD: Despite a change of command and internal opposition, the government’s proposed amnesty scheme for asset declaration will go ahead without any major change and will come to an end before the International Monetary Fund’s bailout programme kicks in on July 1. This was the crux of a special meeting on the subject presided over […]

ISLAMABAD: The potential for seed production and development in Balochistan, particularly onion, is beginning to yield positive results, but the United Nations-initiated project faces bottlenecks, according to a follow-up report. The Food and Agriculture Organisation (FAO) of the UN together with World Vegetable Centre and the Agriculture Research Institute has been organising farmers’ groups and […]

China’s Huawei Technologies launched on Monday what it said was the world’s first 5G communications hardware for the automotive industry, in a sign of its growing ambitions to become a key supplier to the sector for self-driving technology. Huawei said in a statement that the so-called MH5000 module is based on the Balong 5000 5G […]

KARACHI: Trade and industry leaders all said that the departure of the finance minister at this critical juncture was ill-timed, though many raised questions about his performance. “As finance minister, Asad could not control the economy and did not take trade and industry on board while framing policies. The economy can only be controlled if you know […]

KARACHI: The country’s current account deficit during March climbed by 196 per cent month-on-month compared to February, according to latest data released by the State Bank of Pakistan (SBP) on Thursday. The central bank reported that the current account deficit in March was at $822 million compared to $278m in February. Cumulatively, the current account […]

Japanese car giant Toyota and investment fund SoftBank Vision Fund on Friday unveiled an investment of $1 billion in US company Uber to drive forward the development of driverless ridesharing services. The latest cash injection, expected to close in the third quarter this year, came amid fevered anticipation of Uber’s public share offering which is […]

ISLAMABAD: Members of civil society working in healthcare and child rights criticised government functionaries on Thursday for bowing to cigarette manufacturers and ignoring the international conventions Pakistan has signed against the spread of tobacco consumption. A discussion was organised by the Society for the Protection of the Rights of the Child (Sparc) to demand that […]

KARACHI: Net foreign direct investment (FDI) in the country plunged by 51 per cent to $1.273 billion in the first nine months of this fiscal year, from $2.621bn in corresponding period last year, reported the State Bank of Pakistan on Thursday. Meanwhile, during March, FDI clocked in at $177.5 million, increasing by 5.15pc month-on-month over […]