Category: Business

KARACHI: Pakistan received a record foreign investment of $2.225 billion in treasury bills during the current fiscal year. The latest T-bills auction held on Jan 15 yielded $537.9 million — the highest amount for a single auction which was also confirmed by the State Bank of Pakistan. While the speedy foreign investment helped the government […]

KARACHI: The inflows of foreign direct investment (FDI) jumped 68.3 per cent to $1.34 billion during the first half of the current fiscal year compared to $796.8 million in the same period last year. The major chunk of these investments was concentrated in the telecommunication, power and electrical machinery sectors with China and Norway emerging […]

KUALA LUMPUR: Malaysia does not want to escalate a palm oil spat with India by talking of any retaliation for now, two government sources said on Thursday, after the prime minister’s media adviser called for tighter regulations on Indian expatriates and products. Malaysia is instead betting on diplomacy to quell India’s anger at Prime Minister […]

China’s economic growth cooled to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States, and more stimulus is expected this year as Beijing tries to boost sluggish investment and demand. But data on Friday also showed the world’s second largest economy ended the rough year on a […]

Indian Prime Minister Narendra Modi’s ruling party on Friday slammed the editorial policies of billionaire Jeff Bezos-owned Washington Post, even as his e-commerce firm Amazon announced plans to create a million jobs in the country by 2025. Vijay Chauthaiwale, the chief of the Bharatiya Janata Party’s (BJP) foreign affairs department, said there was “a lot of […]

Pakistan’s economy is expected to recover slightly from 2021 onward as increased government revenues from a tax hike allow expanded public investment and as other government reforms required by the International Monetary Fund (IMF) begin to bear fruit, says the latest United Nations report on the state of the world economy. The ‘World Economic Situation […]

LAHORE: Hyundai-Nishat Motor Company on Wednesday started commercial production of light trucks at its assembly plant in Faisalabad. This news comes at a time when automobile sales in the country are rapidly plummeting amid stabilisation policies being pursued by the government under the $6 billion International Monetary Fund programme. The company, which plans to launch […]

KARACHI: The government received bids over Rs1.1 trillion in the latest Treasury bill auction, the State Bank of Pakistan said in a release issued on Wednesday. However, the government only accepted bids worth Rs274.7 billion or 25 per cent less than the auction target of Rs400bn against the maturity amount of Rs345.9bn. The quantum of […]

ISLAMABAD: The Federal Board of Revenue (FBR) has asked field formation for the enforcement of systematic raids on tax evaders and non-compliant persons across the country, a high ranking official told on Wednesday. The direction comes amid reports that some big taxpayers are involved in tax evasion and have been identified for different actions under […]

WASHINGTON: After nearly two years of conflict between the world’s two dominant economic powers, the United States and China signed a trade truce on Wednesday, letting businesses around the globe breathe a sigh of relief. US President Donald Trump, who currently faces an impeachment trial and then a tough reelection bid later this year, called […]