Business

Pakistan to surpass Canada’s economy by 2050: PWC report

Pakistan to surpass Canada’s economy by 2050: PWC report

(Web Desk) – A report by management consultancy PricewaterhouseCoopers forecasts that Pakistan could surpass the Canadian economy by 2050. “By 2050, emerging economies such as Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and Canada,” PWC said in a report published Tuesday. Bloomberg  surprised  […]

Fitch afirms Pakistan at ‘B’; outlook stable

Fitch afirms Pakistan at ‘B’; outlook stable

HONG KONG: Fitch Ratings has affirmed Pakistan’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B’ with stable outlooks. The issue ratings on Pakistan’s senior unsecured foreign- and local-currency bonds, country ceiling as well as the Short-Term Local- and Foreign-Currency IDRs are also affirmed at ‘B’.  The issue ratings on the third Pakistan International […]

GSP+ to remain intact till December 31, 2023: minister

GSP+ to remain intact till December 31, 2023: minister

ISLAMABAD (APP): The European Union’s (EUs) Generalised Scheme of Preferences (GSP) Plus (GSP+) status for Pakistan will remain intact until December 31, 2023, Commerce Minister Engineer Khurram Dastgir Khan informed the National Assembly here on Monday. Responding during the question hour, the minister said that the incentive was being provided on special incentives for good […]

Pakistani textiles make a mark in Texworld 2017 in Paris

Pakistani textiles make a mark in Texworld 2017 in Paris

PARIS (Web Desk) – Pakistan’s high quality and value added textile products were showcased at the 3- day 40th edition of Texworld show held from 6th to 9thof this month in Paris. In all twenty six renowned Pakistani companies participated in the exhibition and displayed variety of high end fabrics, sundries, accessories and sophisticated cotton […]

Nandipur power project handed over to Chinese company for 10 years

Nandipur power project handed over to Chinese company for 10 years

NANDIPUR (Yes News) – Nandipur power project has been handed over to a Chinese company on contract for ten years, and the deal has been signed as well. According to details, a formal ceremony was held at Nandipur Power Plant in which joint secretary to Ministry of Water and Power Zaffar Iqbal, Muzaffargarh Thermal Power Station […]

Dollar subdued after US wage growth disappoints

Dollar subdued after US wage growth disappoints

TOKYO (Reuters) – The dollar started the week on the back foot on Monday, after U.S. data showed a smaller-than-expected rise in wages in January that reinforced expectations the Federal Reserve will refrain from raising interest rates next month. The dollar index, which tracks the greenback against a basket of six major rivals, drooped 0.1 […]

Amid Beijing’s ‘Silk Road’ splurge, Chinese firms eye Pakistan

Amid Beijing’s ‘Silk Road’ splurge, Chinese firms eye Pakistan

(Reuters) – Chinese companies are in talks to snap up more businesses and land in Pakistan after sealing two major deals in recent months, a sign of deepening ties after Beijing vowed to plough $57 billion into a new trade route across the South Asian nation. A dozen executives from some of Pakistan’s biggest firms […]

Tea import decreases 5.45 percent in first half

Tea import decreases 5.45 percent in first half

ISLAMABAD (APP) -Tea import into the country during first half of current financial year decreased by 7.99 percent as compared the imports of the corresponding period of last year. During the period from July-December, 2016-17, about 107,408 metric tons of tea worth $257.584 million imported to fulfill the domestic requirements as compared to imports of […]

Seafood of $183.451 mln, meat $105.690 mln exported in 6 months

Seafood of $183.451 mln, meat $105.690 mln exported in 6 months

ISLAMABAD (Yes News) – Fish and fish preparations worth of $183.451 million exported from the country during first half of current financial year as against the exports $166.286 million of the corresponding period of last year. Seafood exports from the country during the period from July-December, 2016-17 witnessed 10.32 percent increase as compared to same […]

PSX-100 surges by 698 points on news of new SECP products

PSX-100 surges by 698 points on news of new SECP products

KARACHI: Waning political concerns, and the reported introduction of newer financial products (particularly leverage-featured) by the Securities and Exchange Commission of Pakistan, kept investor confidence intact, pushing the index higher on Wednesday. The Pakistan Stock Exchange went up 1.43%, an increase of 698 points, to close at 49,455.86 points. The overall turnover remained at 356 […]

‘No ban yet’ – Punjab Govt gives Uber, Careem 15 days to get registered

‘No ban yet’ – Punjab Govt gives Uber, Careem 15 days to get registered

LAHORE: Chief Minister Punjab Shehbaz Sharif has allowed mobile-application taxi service providers Careem and Uber, 15 days to get registered. The companies will continue to operate their services in the meantime, a spokesperson from the Punjab Government clarified. There is no ban on these services in the province. The companies will just need to follow […]