Pakistan News International

Business & Economy

Kerb currency market

KARACHI, Aug 23 (APP): Following were the Opening Rates of foreign currencies in kerb market issued by the Forex Association of Pakistan (FAP), here on Wednesday. F.C. LOW RATE HIGH RATE INTER BANK (COMMERCIAL BANK) 299.00 299.75 US $ DOLLAR (Free Market) 303.50 306.50 SAUDIA […]

KPT shipping movements report

KARACHI, Aug 23 (APP): Following were the Movements of Ships at Karachi Port Trust (KPT) during last 48 hours, ending at 0700 hours on Wednesday. SHIPS BERTHED: Xin Hong Kong Container Ship MSC Santa maria Container Ship Independent Spirit Container Ship M.T Shalamar Tanker Honor […]

US home sales cool as mortgage rates remain high

Washington, Aug 22 (AFP/APP): Sales of homes in the United States ticked down in July, according to industry data released on Tuesday, as elevated mortgage rates and limited housing supply held buyers back. The housing market in the world’s biggest economy has been reeling as […]

Sri Lank’s infaltion drops further to 4.6 pct in July

COLOMBO, 21 (XINHUA/APP):Sri Lanka’s inflation based on the National Consumer Price Index (NCPI) decreased to 4.6 percent in July from 10.8 percent in June, the Department of Census and Statistics said on Monday. The department said inflation in the food category dropped to negative 2.5 […]

New condo prices in greater Tokyo surge over 50 pct in July

TOKYO, Aug 21 (XINHUA/APP): Prices for new condominiums in the greater Tokyo area jumped more than 50 percent in July from a year earlier, local media reported on Monday. According to the Real Estate Economic Institute, the average price of new units on sale in […]

TwentyOne Launches Turkish-Style Shopping Mall in Pakistan

KARACHI (PNI) TwentyOne Builders and Developers, one of the emerging real estate companies in Pakistan, has Launched Turkish-Style retail and wholesale mall in Pakistan (Karachi) for the first time. The mall “The Grand Bazaar” has been famous in Istanbul and the same model has been […]

Chinese company to help Pakistan boost edible oil production

BEIJING, Aug. 14 (APP): Pakistan’s annual consumption of edible oil is around 5 million tons, but due to the low economic potential of oilseeds in the local market, they are not preferred by the farmers. The country has to import about 89 percent of oil […]

Sugar futures close lower

ZHENGZHOU, Aug. 14 (Xinhua/APP):– Sugar futures closed lower Monday in daytime trading on the Zhengzhou Commodity Exchange (ZCE). The most active sugar contract for January 2024 delivery lost 17 yuan (2.37 U.S. dollars) to close at 6,881 yuan per tonne. On Monday, the total trading […]

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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