Category: Business

KARACHI: The State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Wednesday said that reforms introduced to address macro-economic challenges have started to bear fruit and an improvement in external sector has become visible. He made these remarks during an interactive session with the members of Overseas Investors Chamber of Commerce and Industry (OICCI). […]

KARACHI: Hyundai Nishat Motors Private Ltd (HNMPL) will start local assembly of Porter H100 pickup with 20 per cent indigenisation from January next year, the company announced on Tuesday. The company also opened its 3S dealer and digital showroom in the city and introduced Hyundai Ioniq Hybrid car. Talking to newsmen after inaugurating the showroom, […]

ISLAMABAD: Facing a capacity trap, the government plans to introduce a relatively cheaper flat rate for electricity consumers in winter months to encourage higher power consumption. The move comes amid declining electricity consumption as ‘peak hours’ in summer turn into ‘lean hours’ in winter and power companies are unable to utilise the fuel the government […]

ISLAMABAD: Federal Minister for Maritime Affairs Ali Haider Zaidi has announced that the government has granted tax exemption to the China Overseas Ports Holding Company (COPHC) for 23 years to facilitate establishment of its industrial units at Gwadar Port. Accompanied by COPHC Chief Executive Officer Zhang Baozhong and Minister for Economic Affairs Hammad Azhar, Mr […]

WASHINGTON: Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said on Tuesday. Research shows the impact of the trade conflict is widespread and countries must be ready to respond in unison with cash infusions, Kristalina Georgieva said in her […]

Pakistan slipped by three spots on the Global Competitiveness Index 4.0 released by the World Economic Forum (WEF), ranking 110 out of 141 countries. The Forum, organisers of the glitzy annual gathering of business and political elite in Davos, on Tuesday released the Global Competitiveness Report, an annual competitiveness report since 1979, that assesses which […]

KARACHI: The raging bull carried on its relentless run at the market for seventh consecutive session on Monday with the KSE-100 index gaining 604 points (1.83 per cent) and closing at 33,637. Jubilant investors fell over one another to accumulate shares across the board in the lead of banks and individuals. The exuberance was on […]

KARACHI: The government’s domestic debt grew by 3.68 per cent in the first two months of this fiscal year while external borrowing decreased by 2.8pc during the period. According to data released by the State Bank of Pakistan on Monday, the government’s domestic debt increased by Rs764 billion to Rs21.495 trillion in August, up from […]

DUBAI: Fitch on Monday downgraded Saudi Aramco by one notch after attacks last month on two production facilities, putting the rating of the state-owned oil giant at par with the one of Saudi Arabia, which the agency downgraded on Sept 30. Aramco the world’s largest oil company and the most profitable obtained its first credit […]

The US is to blacklist 28 Chinese entities that it says are implicated in rights violations and abuses targeting Uighurs and other mostly Muslim minorities in the Xinjiang region, the commerce department announced. The United States “cannot and will not tolerate the brutal suppression of ethnic minorities within China,” Secretary of Commerce Wilbur Ross said, […]