Maritime operations generate only 0.5% of Pakistan’s GDP, says Qaiser Ahmed By: News Desk on December 9, 2024Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh said on Saturday that Pakistan is earning a meager 0.5% of GDP (gross domestic product) from maritime operations, a 14-time low compared to the world average of 7% per annum. “Some of the developed countries are drawing up to 40% of GDP from the seaborne trade,” the […]
Europe’s economy needs help By: AP on December 9, 2024Even before the French and German governments collapsed, Europe´s economy had enough difficulties. Tepid growth and lagging competitiveness versus the U.S. and China. An auto industry that’s struggling. Where to find billions for defense against Russia? And now Donald Trump threatening tariffs. Solutions will be harder to find while the two countries that make up […]
EV maker VinFast to build second production plant in Vietnam By: Reuters on December 9, 2024Vietnamese electric vehicle (EV) manufacturer VinFast on Sunday announced a plan to build its second domestic production plant that will double its output capacity, saying it is needed to meet increased demand for its small and mid-sized models. VinFast said the new facility is expected to produce 300,000 units annually in its initial phase, the […]
BMP for raising tax-to-GDP ratio as shortfall widens to Rs400bn By: News Desk on December 9, 2024The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel (BMP) on Sunday advocated the need for raising the country’s tax base so that tax-to-GDP ratio improves as the tax shortfall may further widen to almost Rs400 billion at the end of 2024. The BMP Chairman and FPCCI former president Mian Anjum Nisar urged […]
PIAF wants long-term economic management for sustained growth By: News Desk on December 9, 2024The Pakistan Industrial and Traders Associations Front (PIAF) has asked the government that its strategies should not only focus on short-term gains but also encompass a long-term vision for sustained progress. PIAF Chairman Faheemur Rehman Saigol, in a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chaudhary, emphasized that […]
US spending on TikTok Shop gains as TikTok faces threat of ban By: Reuters on December 9, 2024US TikTok users spent heavily to buy merchandise from a range of vendors on the e-commerce platform TikTok Shop so far this holiday shopping season, according to TikTok estimates and a Reuters analysis of spending patterns measured by data from Facteus. The patterns show that TikTok Shop, which launched in the U.S. in September 2023, […]
PFC stresses vocational training to enhance productivity By: APP on December 9, 2024The Pakistan Furniture Council (PFC) is grappling with an acute shortage of skilled woodworkers and trained artisans, significantly impacting timely despatch of export consignments to their foreign destinations.Pakistan’s cuisine Chairing board of directors meeting here on Sunday, PFC Chief Executive Officer (CEO) Mian Kashif Ashfaq said the scarcity of skilled labour had hindered the manufacturing […]
Saudi Arabia’s GDSaudi Arabia’s GDP grows by 2.8% in third quarterP grows by 2.8% in third quarter By: Reuters on December 9, 2024Saudi Arabia’s economy grew 2.8% in the third quarter from the same period a year earlier, supported by an increase in non-oil activity, government data showed on Sunday. The growth rate was in line with preliminary data reported in October. Non-oil output rose 4.3% in the quarter from a year earlier, government activity increased 3.1% […]
Existing investment is fantastic, economy moving in right direction: Finance Minister By: APP on December 8, 2024Federal Minister for Finance and Revenue Muhammad Aurangzeb on Saturday said that the investment was coming into the country and existing investment was fantastic. He said that the economy of the country was moving in the right direction. While briefing the media persons after a meeting with Overseas Investors Chamber of Commerce and Industry (OICCI), […]
PTA enables VPN registration for freelancers via mobile numbers By: News Desk on December 8, 2024In a bid to facilitate the IT sector, the Pakistan Telecommunication Authority (PTA) has allowed freelancers to register their virtual private network (VPN) using mobile numbers. “To facilitate the legitimate, secure and uninterrupted operations of VPN by freelancers who don’t have static IP addresses, the facility to register VPN against mobile number has been introduced […]