Category: Business

KARACHI: The State Bank of Pakistan (SBP) on Friday penalised three banks for violating customer due diligence and know your customers (CDD/KYC) protocols. The central bank slapped penalties worth Rs133.3 million on the three small banks due to procedural violations in areas of KYC/CDD. In addition to penal action, the central advised these banks to […]

LAHORE: Lack of capital for mechanisation, poor knowledge of modern farming techniques, absence of formal credit and marketability at harvest as major reasons behind the failure of ordinary farmers in achieving productivity, a report on Pakistan’s agriculture sector notes. The report, a copy of which is available with Dawn, has been prepared by the National Defence […]

WASHINGTON: The US economy added a modest 136,000 jobs in September, a gain that managed to lower the unemployment rate to a new five-decade low of 3.5 per cent but also suggested rising caution among employers. The additional hiring and the drop in the jobless rate will likely ease worries that an economy weakened by […]

Global stocks were slightly higher on Friday, clawing back some ground lost in their worst week for months, and safe haven assets rose ahead of a key jobs report as investors hoped this week’s dismal data would trigger more United States interest rate cuts. Trading overall was subdued after a bruising week for assets considered […]

The United Arab Emirates (UAE) will invest $5 billion in an oil refinery project in Pakistan by the end of the year, Arab News reported on Friday. In an interview with the publication, UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi said: “We are going to launch very soon one of the biggest investments in a refinery […]

KARACHI: A number of business leaders who met Chief of Army Staff (COAS) Gen Qamar Bajwa in Rawalpindi on Wednesday told Dawn that the meeting “was held in a comfortable and cordial atmosphere” and its main purpose was to focus on areas where an economic revival could be brought about, as well as building confidence between the government and […]

With signs of a weakening economy spreading and financial markets gyrating, Fridays monthly jobs report will be watched for any evidence that the turmoil might be threatening the critically important US job market. Economists have forecast that the government will report that employers added a modest 145,000 jobs in September and that the unemployment rate […]

United States personal computer maker HP Inc said on Thursday it will cut up to 16 per cent of its workforce as part of a restructuring plan aimed at cutting costs. The company will cut about 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement, it said in a statement. […]

ISLAMABAD: In separate meetings with business barons on Thursday, Prime Minister Imran Khan assured them that a strategy had been finalised to address the concerns of the business community regarding the National Accountability Bureau (NAB). Prime Minister Khan chaired two meetings: one with the representatives of different chambers of commerce and industry, and the other […]

Saudi Arabia has fully restored oil output after attacks on its facilities last month and is now focused on the listing of Saudi Aramco, its energy minister Prince Abdulaziz bin Salman said. The kingdom’s oil production capacity now stands at 11.3 million barrels per day, he told a Moscow energy conference on Thursday, adding: “We […]