Business News | PSX | News Updates from Pakistan Economy

Exporters forced to cut production amid gas shortages

As textile exporters continue to face gas shortages, Sindh Government Spokesperson and Adviser to Chief Minister Barrister Murtaza Wahab on Tuesday urged the federal government to immediately resolve gas shortage issues being faced by Karachi-based…

September 23, 2020
Published in Business

Rolls-Royce shares hit 16-year low

Rolls-Royce shares hit 16-year lows on Monday after the engine maker confirmed it was considering a rights issue of up to 2.5 billion pounds ($3.23 billion) following months of speculation about its finances.

September 22, 2020
Published in Business

IMF seeks a further limit on short-term borrowings

The International Monetary Fund seeks a further limit on short-term borrowings for filling budget gaps, as Pakistan’s gross financing needs may remain close to 31% of the size of its economy in this fiscal year…

September 22, 2020
Published in Business

SBP to announce monetary policy today

The State Bank of Pakistan (SBP) will announce its decision on the monetary policy today with the analysts forecasting that there will be no change in the current policy rate.

September 21, 2020
Published in Business

WAPDA starts recruitments for Diamer-Bhasha dam project

Water and Power Development Authority (WAPDA) has commenced recruitments of Grade 6 to 16 officials for the construction of Diamer-Bhasha dam project.

September 20, 2020
Published in Business

FDI in Pakistan records boost in first two months of ongoing fiscal year

The first two months of the ongoing fiscal year 2020-21 witnessed 40 per cent increase in foreign direct investment (FDI).

September 18, 2020
Published in Business

Rupee strengthens against dollar

The exchange rate of Pakistani rupee strengthened by 13 paisas against the US dollar in the interbank trading on Thursday and closed at Rs 166.21 as compared to the last closing of Rs 166.34.

September 17, 2020
Published in Business

Draft rules readied for mobile device manufacturing

The Pakistan Telecommunication Authority (PTA) on Tuesday floated the draft ‘Mobile Device Manufacturing Regulations and Authorisation’ to promote local manufacturing of handsets.

September 16, 2020
Published in Business

Islamic finance important to end exploitation: Alvi

President Dr Arif Alvi on Monday said Islamic banking and finance offered a broad-based platform to end economic exploitation and stressed its implementation to uplift underprivileged segments of society.

September 15, 2020
Published in Business

World’s biggest online retailer to hire 100,000 more workers

Amazon.com on Monday said it is recruiting 100,000 more workers – the fourth hiring spree it has announced for the United States this year – to keep pace with e-commerce demand that jumped during the…

September 14, 2020
Published in Business

Verification system for advance sales tax registration introduced

The Federal Board of Revenue (FBR) has introduced an advance sales tax registration verification mechanism to minimise chances of bogus and paper-based companies.

September 11, 2020
Published in Business

IMF asks Pakistan to hike gas, electricity tariff

The International Monetary Fund (IMF) has asked the Pakistani government to increase the prices of gas and electricity for consumers in order to achieve the tax collection target set for the fiscal year.

September 11, 2020
Published in Business

Gold price jumps Rs1,400 per tola in domestic market

The per tola gold price witnessed an increase of Rs1,400 to Rs114,750 in the domestic market on Thursday.

September 10, 2020
Published in Business

ML-1 project tender to be opened by 20th of this month: Railway Minister

Minister for Railways Sheikh Rasheed has said that tender of Main Line-1 (ML-1) project envisaging up-gradation of the railways’ infrastructure will be opened by the 20th of this month.

September 10, 2020
Published in Business

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