Pakistan exports to EU increase by $1.1bn in last 10 months By: Web Desk on May 12, 2021 ISLAMABAD – Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Wednesday said that Pakistan exports to European Union (EU) countries increased by $ 1.1 billion during the last 10 months of current fiscal year 2020-21. The increased by 17.4 percent to $7.474 billion as compared to $6.367 billion in July […]
Tax reform suggestions for budget 2021-2022 By: Dr Qais Aslam on May 12, 2021Finance Minister Shaukat Tarin on May 3, 2021 gave a policy statement on the economy and the IMF conditions, stating that, “IMF did injustice to Pakistan by asking the government of Pakistan to increase its electricity tariff, in order to reduce the circular debt, because this price hike is increasing inflation, had stopped the economy […]
Oil falls on fading pipeline outage fears, Indian Covid-19 crisis By: Web Desk on May 12, 2021LONDON: Oil prices fell on fading fears of a prolonged outage at the largest US fuel pipeline system while India’s coronavirus crisis and a tech-led sell-off in global stock markets also weighed. Brent crude futures dropped $0.83, or 1.21%, to $67.49 a barrel by 1232 GMT. US West Texas Intermediate (WTI) crude futures fell $0.84, […]
Pakistan Business Council proposes govt to devise pro-growth economic policy By: By Hassan Naqvi on May 12, 2021The Pakistan Business Council (PBC)- an alliance of about 82 of the largest Pakistani business houses claiming about 18 per cent share in the country’s revenue and GDP — has recommended the federal government and the Economic Advisory Council (EAC) to devise equitable, predictable, pro-growth and pro-formalisation fiscal policy. According to the PBC, the Pakistan’s […]
Asian stock markets suffer further as US inflation data looms By: Agencies on May 12, 2021HONG KONG: Fears about surging inflation continued to trouble Asian markets Wednesday, with investors nervously awaiting crucial US price data later in the day that could ramp up expectations the Federal Reserve will have to taper its monetary policy earlier than flagged. Global equities have had a torrid start to the week as traders bet […]
COVID-19 devastation: Indian companies close plants, give workers days off By: Daily Times Monitor on May 12, 2021NEW DELHI: Some companies in India are temporarily halting business or offering unusual assistance to employees as a devastating wave of the coronavirus sickens and kills hundreds of thousands, Bloomberg reported on Wednesday. Feng Tay will suspend its Indian factories for 10 working days to keep its employees safe, the Nike-supplier told the Taiwan stock […]
Saudi Arabia commits $500 million loan to Pakistan By: Web Desk on May 12, 2021LAHORE: Saudi Arabia’s commitment to providing funds worth $500 million (Rs75.5 billion) will help develop infrastructure, hydropower projects and water resources in Pakistan. During a meeting with a delegation of women entrepreneurs, led by Dr Ayesha Tahir, Saarc Chamber of Commerce and Industry President Iftikhar Ali Malik highlighted that under one of the seven MoUs […]
APTMA worried over 10-day closure of factories By: Web Desk on May 12, 2021LAHORE: All Pakistan Textile Mills Association (APTMA) patron- in-chief Gohar Ejaz has rejected the decision of the government for Eid ul Fitr holidays from May 10-16. While expressing his concerns, he stated the decision has brought the whole country practically shut down for 10 days from May 8- 17, 2021. “Shutting down the country for […]
Imran says Tarin’s appointment aimed at boosting growth, containing inflation By: APP on May 12, 2021 ISLAMABAD: Prime Minister Imran Khan has said that cartels and monopoly as witnessed in the case of sugar mills resulted in inflation. The appointment of Shaukat Tarin as finance minister is aimed at controlling inflation and increasing the growth rate. The prime minister made these remarks in a live telephonic call session with the […]
India’s defiant Dalal Street amidst Covid explosion By: Faraz Saeed on May 12, 2021India’s risky asset class has been faring well, infact its super expensive stock market, at 32 times earnings, almost double the valuations in economic giant China, has shown odd resilience. The big question is, how are Indian financial markets continuing their upward march, despite Covid explosion, causing an apocalyptic crisis, which has ripped through the […]