Category: Business

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has asked the government to increase prices for gas consumers by up to 221 per cent with effect from January 1, 2020 to generate about Rs40 billion in additional funds required by the two gas utilities. In two separate judgments forwarded to the government, the regulator determined […]

KARACHI: Stocks maintained the rising momentum on Monday as the KSE-100 index stormed past 41,000-level to settle firmly at 13-month high 41,644.88. It indicated massive gains of 728.29 points (1.78 per cent) with market capitalisation up by Rs178 billion to cross over Rs8 trillion. The index opened bullish and kept climbing to touch intraday high […]

Moody’s Investors Service on Monday said that India’s weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors. Moody’s has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8pc. The major factors responsible […]

ISLAMABAD: Pakistan is required to undertake structural reforms to improve its exports for attaining a sustainable economic growth rate of above 3.8 per cent, suggests a new study released by the Asian Development Bank on Monday.The study — Why Pakistan’s Economic Growth Continues to be Balance of Payments Constrained — says this requires an upgrade […]

ISLAMABAD: Estimating power sector losses rising by four per cent since the financial year 2016 to 29pc, the Asian Development Bank (ADB) and the government have agreed to raise about Rs469 billion revenues through consumer tariff during the current fiscal year and shift about Rs800bn of the circular debt stock to public debt in three […]

Pakistan ranked 151 out of 153 countries on the Global Gender Gap Index Report 2020 index, published by the World Economic Forum (WEF) on Tuesday, only managing to surpass Iraq and Yemen. The scorecard for the country places Pakistan at 150 in economic participation and opportunity, 143 in educational attainment, 149 in health and survival and 93 […]

KARACHI: The Financial Action Task Force (FATF) and the International Monetary Fund (IMF) have praised Pakistan for making key progress against money laundering which is crucial for the country as it seeks to come out of the grey list, said the State Bank Governor Reza Baqir. Addressing the second edition of Financial Crime Summit in […]

LONDON: British Prime Minister Boris Johnson will “get Brexit done” by Jan 31 and then agree a new trade deal with the European Union by the end of 2020, cabinet office minister Michael Gove said on Sunday, vowing to deliver on the government’s top priority. Johnson and his team were triumphant last week when he […]

TEL AVIV: With the world’s largest trade fair opening in an Arab country for the first time next year, Israel is stepping up preparations, hoping to boost nascent ties with regional neighbours. The Dubai Expo 2020 trade fair will gather nearly 200 countries vying for the attention of a projected 25 million visitors over nearly […]

ISLAMABAD: On the intervention by the Prime Minister Office, the power division has resolved a dispute over the signing of a formal power purchase agreement (PPA) to save Neelum-Jhelum Hydropower Company (NJHPC) from default. The Rs510 billion power project attained 969MW generation capacity in August last year and has since been providing electricity to the […]