Business News
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Balochistan’s uplift depends on public-private tie-up | The Express Tribune
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[ad_1] KARACHI: The government of Balochistan is working on a proven, progressive and world-class mechanism of public-private partnership that has been adopted by many countries and yielded excellent socio-economic results all over the world, said Strategic Planning and Reforms Cell (SPRC) Director Rafiullah Kakar. The director of government of Balochistan’s reforms cell, along with a…
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Great potential for Pakistan’s IT upgrade | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is experiencing a silent revolution in the IT industry. Various incentives are being granted to the sector including the establishment of 15 software technology parks, zero income tax on IT and IT-enabled services export, zero income tax on Pakistan Software Export Board-registered IT startups and tax holidays for venture capital firms till…
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IMF warns China’s property stress poses spillover risk | The Express Tribune
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[ad_1] BEIJING: A funding crisis battering China’s big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat. The International Monetary Fund’s report comes as property firms in the world’s second-biggest economy struggle with liquidity problems as Beijing…
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Carmaker raises prices of CBU units | The Express Tribune
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[ad_1] KARACHI: The impact of mini-budget is being felt by the general public and the economy as a whole as prices of essential and luxury goods are going up. Businesses have opted to pass on the impact of increase in taxes and duties to the general public. Indus Motor Company (IMC), widely known as Toyota,…
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Up to 10% rise in petroleum prices likely | The Express Tribune
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[ad_1] ISLAMABAD: Consumers are likely to face another major increase in prices of petroleum products as rates may be jacked up by up to 10% effective February 1, 2022 following fluctuations in global crude oil prices. Tight supply of crude and geopolitical tensions in Europe and the Middle East propelled oil to a seven-year high…
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Foreign banks face bigger capital bill under draft EU plan | The Express Tribune
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[ad_1] LONDON: Foreign banks based in the European Union may have to hold more capital and liquidity under revisions to rules being considered by the bloc’s member states, an EU document showed. Officials in Brussels are looking to classify more foreign banks as subsidiaries rather than branches, a change which would require them to beef…
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Pakistani handicraft pavilion opened in Shanghai | The Express Tribune
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[ad_1] SHANGHAI: A Pakistani handicraft pavilion was launched on Nanjing Road, one of Shanghai’s famous shopping streets, ahead of the Chinese New Year. Many Pakistani crafts have been put on display for visitors with brass-made flower vases as the cornerstone. “It is amazing to promote these tremendous and beautiful Pakistani products to a foreign country…
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Oil hits over 7-year high | The Express Tribune
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[ad_1] BENGALURU: Oil prices extended gains to their highest levels in over seven years on Friday as ongoing global political turmoil fanned concerns over tight supply. The benchmark contracts are on track for their sixth straight weekly rise, the longest run of gains since October. Brent futures rose $1.25, or 1.4%, to $90.59 a barrel…
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German industry seeks ladder out of supply woes | The Express Tribune
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[ad_1] GERMANY: A new warehouse with a freshly unboxed smell is the consequence of the coronavirus pandemic for the German ladder, stool and scaffold-maker Munk. In the southern town of Guenzberg on the banks of the Danube, the group has invested €10 million ($11.3 million) into the complex to stockpile enough raw material and components…
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Profit repatriation stands at $891m | The Express Tribune
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[ad_1] KARACHI: Multinational companies (MNCs) based in the United Kingdom and United States reported the largest profit repatriations from Pakistan to their home countries during the first half of current fiscal year. Companies from the UK repatriated around $170.3 million while US-based firms sent around $146.7 million back to their home countries during the period…
