Business News
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Japan’s trade gap widens in April | The Express Tribune
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[ad_1] TOKYO: Japan’s exports extended double-digit gains for a third straight month in April, but surging global commodity costs inflated the country’s import bill to a record, adding to worries about the rising cost of living. Shoring up the prospects of a private demand-led recovery, however, was a gauge of capital expenditure that posted its…
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Efforts underway to cut telecom taxes | The Express Tribune
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[ad_1] ISLAMABAD: Federal IT Minister Syed Aminul Haque has emphasised that the IT ministry is working to remove all obstacles and enhance cooperation with the telecom sector for the fulfillment of Digital Pakistan Vision including high-level efforts to reduce taxes and address other issues related to the central bank and the Right of Way. He…
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Plan to set up Pak-China Technology Gateway | The Express Tribune
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[ad_1] LAHORE: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Wang Zihai has pledged that after the successful working of Pakistan-China Knowledge Portal, an online Pakistan-China Technology Gateway will be established soon. Speaking at a think tank session held at the PCJCCI premises, he maintained that technological advancement for human resources development is the…
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Foreign investors stop Samba Bank stake sale | The Express Tribune
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[ad_1] KARACHI: Foreign investors have cancelled a planned deal for selling stake in a bank operating in Pakistan, saying they have decided to retain the shareholding “given the Pakistan banking sector outlook”. “Saudi National Bank (SNB) is terminating the process for the sale of SNB’s equity stake in Samba Bank Ltd (SBL),” SBL Company Secretary…
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Minister woos investors | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Privatisation Mir Abid Hussain Bhayo has stressed that the government’s investment policy provides both domestic and foreign investors with the same incentives, concessions and facilities for industrial development. “Pakistan is an ideal place for foreign investment and we are much keen to provide investors a friendly regime as we believe…
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Luxury items’ import ban to save precious foreign exchange: PM | The Express Tribune
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[ad_1] Prime Minister Shehbaz Sharif on Thursday said that the decision to ban the import of luxury items will save the country’s precious foreign exchange, vowing to take similar measures to overcome the economic challenges at hand. “We will practice austerity and financially stronger people must lead in this effort so that the less privileged…
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In a first, Pakistani rupee storms past 200-mark against US dollar in interbank
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[ad_1] ISLAMABAD: For the first in the history of Pakistan, the US dollar crossed the 200-mark in interbank trade on Thursday. Currently, the local currency is being traded at Rs200.20 against the greenback during intraday trade. More to follow … [ad_2] Source link
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Rupee surpasses 200 against dollar during intra-day trade | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee surpassed the much-feared Rs200 against the US dollar in intra-day trade in the inter-bank market on Thursday. The rupee lost Rs2.41 to Rs200.80 at around 1:45 pm compared to Wednesday’s close at Rs198.39. According to reports, Prime Minister Shehbaz Sharif expressed surprise over the free-fall in the rupee and convened…
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Govt bans import of essential & luxury items | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday gave the go-ahead to a temporary ban on the imports of around three-dozen goods — essential and luxury items — but refused to slap regulatory duties to curb imports. He also permitted to limit the imports of many goods — including completely knocked down (CKD) cars and…
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With 6% growth rate, Pakistan’s economic size jumps to $383b | The Express Tribune
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[ad_1] ISLAMABAD: Fueled by imports and consumption, Pakistan’s economic growth rate accelerated to 6% during the last year of Imran Khan’s government – the highest pace in four years – helping to increase the size of the nation’s economy to $383 billion besides jacking up per-capita income. The provisional Gross Domestic Product (GDP) growth rate…
