Category: Business

ISLAMABAD: The European Union has offered technical assistance to Pakistan for implementation of the Financial Action Task Force (FATF) action plan by the country. A joint press release issued at the conclusion of the tenth session of the European Union-Pakistan Joint Commission in Brussels on Friday says the two sides emphasised the importance of the […]

KARACHI: In a two-hour long interaction with large foreign investors of the country, Finance Adviser Hafeez Shaikh faced industry concerns and tried to assuage his audience that the worst of the adjustment might be over and the year 2020 will be better. More than 50 people assembled in the auditorium of the Overseas Investors Chamber […]

Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world’s biggest IPO, but missed Crown Prince Mohammed bin Salman’s initial target of $2 trillion. Aramco said it would sell 1.5 per cent of the company in a blockbuster initial public offering worth at […]

WOLFSBURG: German car giant Volkswagen said Friday it would plough 60 billion euros ($66bn) by 2024 into its switch to electric, hybrid and connected vehicles, as automakers around the world rev up electrification plans. The sum is an increase of 16bn euros over previously-announced investments. In a plan approved by its supervisory board, VW also […]

LONDON: Pakistan issued a tender on Friday to buy a cargo of liquefied natural gas (LNG) for delivery in February 2020, documents from state-owned gas firm Pakistan LNG showed. The delivery window is on Feb 16-17, and the deadline to submit offers is on Dec. 17. Meanwhile, Asian spot prices for LNG fell for the […]

KARACHI: After increasing prices of various flour varieties by Rs15-20 per kg from April till Nov 12, millers are reducing rates of flour no.2.5 to Rs47.50, down a rupee from Rs48.50 per kg. Prices of 10 kg bag for the same variety have been lowered to Rs480 from Rs490. Meanwhile, the government has issued import […]

ISLAMABAD: Prime Minis­ter Imran Khan on Friday revie­wed the pace of privatisation while pointing out that increasing non-tax revenue is one of government’s top priorities. He said that privatisation’s objective is to not only save losses to the national exchequer but hand over the responsibility of these state-owned entities to capable hands so that their […]

KARACHI: The country’s external debts and liabilities increased by $543 million in the first quarter of this fiscal year while external debt servicing soared to over $3 billion. As per quarterly data released by the State Bank of Pakistan on Friday, the country’s external debts and liabilities rose to $106.891bn by September end, as compared […]

KARACHI: Foreign investment in treasury bills reached a new high of $712.8 million in the first four months of this fiscal year. The recent State Bank of Pakistan data indicates investment in government-backed securities has become attractive for foreigners. The financial sector believes that foreign investors’ growing interest in government papers reflects their confidence in […]

Prime Minister Imran Khan on Friday said that Pakistan’s economy has stabilised despite the difficult time that the Pakistan Tehreek-i-Insaf (PTI) government went through during its first year in power. Addressing the signing ceremony of Super-6 310-MW Wind Power Projects in Islamabad, the premier said: “Our first year was very difficult because there was a […]