Category: Business

Former IMF chief Christine Lagarde said President Donald Trump’s trade offensive against China could slash global economic growth and she critiqued his Twitter habits in an interview with US television programme “60 Minutes”. Lagarde, who takes over leadership of the European Central Bank on November 1, called for world leaders to act like grownups and […]

ISLAMABAD: The government has decided to establish a customs authority and develop a data bank to collect information about smuggling and similar mechanisms in order to curb inflow of non-duty paid items into the country. The decision was taken by Prime Minister Imran Khan on Thursday while chairing a high-level meeting to review and control […]

The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday, despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets. The tariffs, which took effect just after midnight in Washington (0401 GMT), came after talks between European officials and US trade representatives failed to […]

KARACHI: Foreign private investment increased by 51 per cent to $564.8 million in the first quarter of this fiscal year, up from $374m in same period of 2018. Meanwhile, foreign direct investment (FDI) edged lower by 3.1pc to $542.1m during July-Sept, as compared to $559.4m in same quarter last year. However, FDI in September clocked […]

The Finan­cial Action Task Force (FATF) on Friday formally announced that Pakistan will remain on its grey list for the next four months, handing it a final lifeline after acknowledging recent improvements. The task force directed Islamabad to take more measures for complete elimination of terror financing and money laundering while expressing serious concerns over […]

ISLAMABAD: Pakistan and Egypt on Wednesday agreed to work out measures for capturing untapped economic potential and promoting bilateral trade. The decision took place at the first meeting of the Pakistan-Egypt Joint Working Group (JWG) on Trade held in the capital. The JWG was established at the sidelines of Pakistan-Egypt trade conference held in Islamabad […]

Sterling edged up on Thursday as Britain and the European Union appeared close to a Brexit agreement, though investors remain on edge with any deal possibly facing strong opposition in Westminster. After years of wrangling, the two sides said on Wednesday they were edging towards the basis for a treaty allowing Britain to avoid crashing […]

ISLAMABAD: Pakistan is set to take the next stage of development with hopes to leap up the list of ease-of-doing business by 20 to 30 notches, Ambassador to the US Asad Majeed Khan has said. In an interview with David Bloom of The Forbes magazine, he said Pakistan is pushing its IT sector to the US companies […]

China’s industry ministry on Thursday said it has added Tesla Inc to a government list of approved automotive manufacturers, granting the manufacturing certificate that the electric vehicle maker needs to start production in the country. The list was published by China’s Ministry of Industry and Information Technology.

WASHINGTON: The Inter­national Monetary Fund (IMF) on Wednesday projected Pakis­tan’s primary deficit to turn positive one per cent of GDP in the FY21 from a negative 0.5pc in FY20 but said the country’s debt levels are likely to remain elevated at above 65.4pc until FY24 despite continuous decline. In one of its flagship publications released […]