Category: Business

WASHINGTON: Optimism about a rapid resolution of the months-long US-China trade war was undercut by conflicting comments out of Washington and Beijing, sending global stock markets on a downward slide on Friday. President Donald Trump said he remains optimistic but will not agree to a pact with China unless it is a “very good deal”. […]

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mahmood Khan on Friday inaugurated a 32-kilometre and Rs1 billion worth of gas pipeline in Achani Bala area of the provincial capital. Addressing a special ceremony here, the CM said the initiative would address the issue low gas pressure in Peshawar and its suburbs, including Hayatabad Industrial Estate, by the […]

OSLO: Norway’s sovereign wealth fund, the world’s biggest thanks to petrodollars, will sell off stakes in oil and gas exploration and production companies to reduce its exposure to black gold, the government said on Friday. While the decision is based solely on financial considerations and not on the environment, a divestment — even partial — […]

JAMSHORO: Sindh Chief Min­is­ter Syed Murad Ali Shah has said that provinces face severe crisis due to poor state of national economy as federal government has thus far failed miserably to improve conditions. The government should work harder to bolster economy and scale up tax collection instead of launching scathing attacks on others and issuing […]

KARACHI: Private sector borrowing has jumped over 92 per cent to Rs600.5 billion during July-Feb22 compared to Rs312bn in the same period last year, according to latest data released by the State Bank of Pakistan (SBP) on Thursday. The jump in borrowing comes at a time when SBP has raised interest rates to 10.25pc from […]

Prime Minister Imran Khan on Thursday said that reforming Federal Bureau of Revenue (FBR) is high on his agenda, but warned that if the tax collection authority cannot be fixed, he will create a new one. “Reforming FBR is essential. Until that is done, we [the state] will not be able to meet our expenses,” […]

ISLAMABAD: A 13-member expert group from China has shortlisted around 20 projects for implementation within a year in all the four provinces and special areas — Azad Jammu & Kashmir and Gilgit-Baltistan — to be funded with Chinese grant under socioeconomic cooperation. The Chinese government has agreed to provide up to $1 billion grant for […]

Electric car-maker Tesla has won more than $520 million in loans from Chinese banks to build its first overseas car plant near Shanghai, the first foreign automaker to wholly own a factory in China. The funding, announced on Thursday, is an important boost for the California-based firm, which has been in negotiations with Beijing for […]

ISLAMABAD: The Turkish government has presented its proposals on the Strategic Economic Framework (SEF) to the Government of Pakistan. The decision to enter into an SEF was taken during the visit of Prime Minister Imran Khan to Turkey. Vice President Fuat Oktay has written to Finance Minister Asad Umar acknowledging the receipt of proposals from […]

LAHORE: The National Transmission and Despatch Company (NTDC) has submitted an Indicative Genera­­tion Capacity Expansion Plan (IGCEP) 2018-40 to the National Electric Power Regulatory Authority (Nepra). The plan has been developed by the NTDC’s Power System Planning department pursuant to the mandatory regulatory obligations under the Nepra Grid Code 2005. According to a spokesman, the […]