Pakistan News International

Business & Economy

ECB vows to win inflation fight on 25th birthday

Posted on by News Desk

Frankfurt, Germany, May 24 (AFP/APP):European Central Bank president Christine Lagarde pledged on Wednesday to reduce high inflation in the eurozone as the institution that safeguards the euro marked its 25th anniversary. “For the ECB, our immediate and overriding priority is to bring inflation back down […]

UK inflation slides to 13-month low, stays elevated

Posted on by Tuba Zafar

London, May 24 (AFP/APP): Britain’s annual inflation rate struck a 13-month low in April, official data showed Wednesday but remains elevated at 8.7 percent as soaring food prices offset weaker energy costs, prolonging a cost-of-living crisis. The rate of price increases slowed from 10.1 percent […]

Pak-China sign MoU to deepen all-round agri cooperation

Posted on by News Desk

BEIJING, May 23 (APP): The Gansu Academy of Agricultural Sciences and the Sindh Agriculture University of Tandojam, Pakistan on Tuesday officially signed a memorandum of understanding for the China-Pakistan flax research and innovation hub. Started in September 2020, Lanzhou, the capital of Gansu Province, has […]

Currency rates of NBP

Posted on by Tuba Zafar

KARACHI, May 19 (APP): Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP) on Friday. CURRENCY SELLING BUYING USD 288.96 282.74 GBP 358.34 350.60 EUR 311.15 305.01 JPY 2.0874 2.0425 SAR 77.15 75.30 AED 78.72 77.51 […]

Kerb currency market

Posted on by Tuba Zafar

KARACHI, May 19 (APP): Following were the Closing Rates of foreign currencies in kerb market issued by the Forex Association of Pakistan (FAP), here on Friday. F.C. LOW RATE HIGH RATE INTER BANK (COMMERCIAL BANK) 285.45 286.20 U.S $ DOLLAR (FREE MARKET) 295.00 298.00 SAUDIA […]

Pakistan’s most recent business news

The business environment in Pakistan is undergoing a quick expansion and alteration, with several industries seeing notable advancements and fresh prospects. In this article, we’ll examine the most recent business news from Pakistan, emphasizing important industries, cutting-edge developments, and remarkable accomplishments to give you a full picture of the vibrant business scene there.

Boom in Technology and E-Commerce: Pakistan’s technology and e-commerce industries have seen tremendous development in recent years, which has helped the nation’s economy. Online sales and other digital transactions have expanded dramatically as a result of the more widespread availability of inexpensive smartphones and enhanced internet access. The emergence of e-commerce behemoths like Daraz, Foodpanda, and the Daraz supported by Alibaba has revolutionized consumer shopping and opened up new opportunities for entrepreneurs and small companies.

Investments in Renewable Energy: Pakistan has acknowledged the value of using renewable energy sources to alleviate the country’s energy issue and lessen its dependency on fossil fuels. The government’s initiatives to entice capital into the renewable energy industry have been successful. Major initiatives, such the construction of wind and solar power facilities, have created possibilities for both domestic and international investors while increasing the availability of sustainable energy.

Infrastructure Development: As a result of the government’s emphasis on development projects, the construction and infrastructure industries have seen a considerable uptick. The China-Pakistan Economic Corridor (CPEC) has been instrumental in improving infrastructure and communication across the nation. Construction of motorways, airports, and special economic zones are ongoing initiatives that have boosted jobs and the economy.

Start-up Culture and entrepreneurship: A increasing number of entrepreneurs and innovators are starting businesses in Pakistan, which has a thriving start-up environment. The creation of technological parks and incubation facilities, among other government measures, has given start-ups a supportive atmosphere. Startup success stories like Careem and Bykea have motivated prospective business owners and drawn domestic and foreign capital, promoting innovation and economic expansion.

Financial Inclusion and Digital Banking: With the introduction of financial inclusion and digital banking programs, Pakistan’s financial industry has seen a shift. Financial services are now more easily available to the unbanked population thanks to mobile banking applications and electronic payment methods, which has helped to promote financial inclusion. Consumers now have access to cutting-edge goods and services thanks to partnerships between conventional banks and fintech businesses.

Export Potential and Global Trade: Pakistan’s export potential is growing as a number of industries earn international acclaim. Particularly, the textile and garment sector continues to play a significant role in the nation’s export earnings. Aside from that, efforts are being made to diversify exports into other industries including IT services, medicines, and agricultural goods. Access to overseas markets has been made possible for Pakistani enterprises thanks to international trade agreements and participation in trade shows.

Due to infrastructural improvements, technology breakthroughs, and a strong start-up culture, Pakistan’s economic environment is changing quickly. The nation is seeing good developments that support economic growth and employment creation, from the e-commerce boom to investments in renewable energy. With an emphasis on entrepreneurship, innovation, and financial inclusion, Pakistan is well-positioned to develop into a thriving center for trade and investment. Keep up with the most recent business news as you investigate the many options that are appearing in this changing climate.

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