Category: Business

ISLAMABAD: Pakistan’s textile and clothing exports grew by over four per cent year-on-year during the first four months of 2019-20, showed data released by the Pakistan Bureau of Statistics on Tuesday. The modest increase in export proceeds and the decline in import of oil and food products helped the government achieve a current account surplus […]

ISLAMABAD: The federal cabinet has approved the first-ever National Tariff Policy (NTP) that seeks to shift focus of tariff setting towards promotion of trade, particularly exports, rather than revenue generation. The decision was taken during a cabinet meeting on Tuesday chaired by Prime Minister Imran Khan who directed the Commerce Division to begin implementation on […]

Emirates and Boeing were poised on Wednesday to seal a compromise deal that would see the Dubai carrier order around 30 787 Dreamliners, paving the way for a reduced order for delayed 777X jets, people familiar with the matter said. Emirates tentatively ordered 40 Dreamliners in 2017 but “tough” last-minute talks to finalise the order […]

KARACHI: Battered by climate change, the cotton production continues to give a gloomy picture as effects of high temperature, heavy rains and gusty winds reduced crop by around 1.814 million bales. Data released by Pakistan Cotton Ginners’ Association (PCGA) on Monday shows cotton production up to November 15 at 6.857 million bales, down 21 per […]

KARACHI: The foreign direct investment (FDI) in the first four months of current fiscal year jumped by 238 per cent to $650 million from $192m during the same period last fiscal year, reported the State Bank of Pakistan (SBP) on Monday. The government is struggling to increase foreign investment in the country but the size […]

ISLAMABAD: The non-performing loans (NPLs) of the banking sector increased by more than 23 per cent during FY19 mainly because of energy, with contributions from public sector and the sugar industry. Testifying before a parliamentary panel on Monday, the State Bank of Pakistan (SBP) reported that the stock of NPLs in banking increased to Rs768 […]

KARACHI: The country posted $99 million current account surplus in October after a gap of more than four years indicative of the recovery from long-prevailing deficits but the four-month current account position still showed a deficit of $1.5 billion. The latest data released by the State Bank of Pakistan (SBP) showed the government has succeeded […]

Prime Minister Imran Khan on Tuesday hailed the $99 million current account surplus posted in October — after a gap of more than four years — saying the country’s economy was finally heading in the right direction. “Pakistan economy finally heading in right direction as more of our economic reforms bear fruit: Pak’s current account […]

KARACHI: Traders on Saturday increased the per kilogram price of tomato to Rs300-320 from Rs240-250 per kg even before the arrival of Iranian tomato in Karachi markets. Consumers in the second week of the current month had to pay over Rs300 for a kilo of tomato and many people are not able to pay the […]

KARACHI: The stock market witnessed another spectacular rally in the outgoing week with the benchmark KSE-100 index up by 1,606 points (4.5 per cent) and closing seen above the 37,000 resistance level at 37,584. Incidentally the market performance matched the earlier week when the index had propelled by almost the same points and percentage (1,601 […]