Category: Business

KARACHI: Exporters and manufacturers on Thursday blamed Sindh government for causing unnecessary delays in allowing export-oriented sectors to operate production units during the lockdown in order to clear pending shipments. The provincial government had asked textile and leather garments exporters to fill a proforma seeking details on export orders, staff required to meet production targets, […]

Leaders of the Group of 20 major economies pledged on Thursday to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and “do whatever it takes to overcome the pandemic.” Showing more unity than at any time since the G20 was created during the 2008-2009 financial crisis, […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Thursday approved four supplementary grants, including Rs5 billion for the National Disaster Mana­gement Authority (NDMA), to fight the spr­ead of coronavirus in the country on an emergency basis. The ECC meeting, chaired by Adviser to Prime Minister on Finance and Revenue Dr Hafeez Shaikh, approved […]

Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil. Brent crude was up 22 cents, or 0.8 per cent, at $26.56 a barrel by 0415 GMT. US […]

China’s auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing. Social media celebrity Lipstick King urged millions of fans on a live-streamed shopping show to sign up to a lease […]

BRUSSELS: Shortly after British Prime Minister Boris Johnson ordered the closure of non-essential retailers on Monday to curb the spread of coronavirus, the parent company of Sports Direct wrote to its staff to let them know: the next day would be business as usual. Its argument — that selling sport and fitness equipment was vital […]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has simplified the submission requirements for registration of a new life insurance product or registering any amendments in an existing product with the view to promote ease of doing business. Most of the products submitted to the SECP by life insurance companies and family takaful operators […]

WASHINGTON: International Monetary Fund (IMF) President Kristalina Georgieva warned on Tuesday that she expects a global recession this year due to the Coronavirus (Covid-19) outbreak. In a statement released by her office in Washington, the IMF chief said that since the breakout, 80 countries had sought help from the Fund to cope with its consequences. […]

Shares continued their grim run on Wednesday, with the benchmark KSE-100 index closing 1,336 points or 4.68 per cent in the red, as Pakistan grapples with the repercussions of the coronavirus outbreak that has brought economic activity to an almost standstill in the country. The KSE-30 closed at 11,833, down 693 points or 5.53pc for […]

The rupee lost Rs3.5 to reach Rs162.5 against the dollar in the interbank market on Wednesday as various parts of the country observed varying degrees of a lockdown. In terms of percentage, the dollar rose by 2.22 per cent over the previous day’s closing value of Rs159. The rise in dollar came only a day […]