Category: Business

India and Germany have agreed to enhance cooperation in tackling climate change, cybersecurity, skill development, artificial intelligence, energy security, civil aviation and defense production. The two countries signed several agreements on Friday in New Delhi, with Prime Minister Narendra Modi saying India is eager to benefit from Germany’s expertise. Visiting German Chancellor Angela Merkel said […]

Nissan Motor Co on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a “generational change” at the automaker. The announcement comes just weeks after the Japanese company named the head of its China business, […]

ISLAMABAD: In a rare move, the National Electric Power Regulatory Authority (Nepra) on Wednesday put on hold about Rs3 per unit increase in electricity tariff for consumers of ex-Wapda distribution companies (Discos) under monthly fuel adjustment for lack of evidence. At a monthly public hearing, Nepra Chairman Tauseef H. Farooqi said “it would be a […]

ISLAMABAD: Amid continuous rise in flour prices, the government on Wednesday decided to immediately release another 650,000 tonnes of wheat to Sindh, Balochistan and Khyber Pakhtunkhwa (KP) to ease out demand and supply equilibrium in the market. The decision was taken at a meeting of the Economic Coordination Com­mittee (ECC) of the cabinet presided over […]

ISLAMABAD: The government has lifted the ban on new Compressed Natural Gas (CNG) connections across the country. The moratorium on fresh connections on local gas to the industrial sector was imposed in 2011 and the industry was given re-gasified liquefied natural gas (RLNG) connections. The move was welcomed by All Pakistan CNG Association Central Chairman […]

ISLAMABAD: The government is likely to keep the prices of petroleum products largely unchanged for November as the Oil and Gas Regulatory Authority (Ogra) has worked out minor adjustments in the costs of various imported products. A senior official at the ministry of energy said that Ogra had worked out an increase of Re1 and […]

ISLAMABAD: Pakistan has asked the International Monetary Fund (IMF) to relax conditionalities under the $6 billion Extended Fund Facility (EFF) relating to the Financial Action Task Force (FATF) and issuance of sovereign guarantees to help raise over $4bn from domestic and international markets. Pakistan has budgeted about $3bn bonds (about Rs450bn) — Islamic Sukuk and […]

ISLAMABAD: The government on Tuesday said it was trying to absolve existing taxpayers from any additional burden as a visiting staff mission of the International Monetary Fund (IMF) planned to brief a joint session of the standing committees of both parliament houses about the status of its $6 billion support package on November 6. Speaking […]

Oil prices fell on Wednesday as a possible delay in resolving the US-China trade war overshadowed a drop in US crude inventories. Brent crude was down 18 cents, or 0.3 per cent, at $61.41 a barrel by 0405 GMT after gaining 2 cents on Tuesday. US West Texas Intermediate (WTI) crude was down 27 cents, […]

Saudi Arabia’s energy minister said on Wednesday a planned initial public offering of the state-run oil giant Saudi Aramco will happen “soon”. Speaking before the Future Investment Initiative summit, Prince Abdulaziz bin Salman told those gathered in Riyadh that “the IPO will come soon”. He also referenced the kingdom’s powerful Crown Prince Mohammed bin Salman. […]