Pakistan News International

Business & Economy

Foreign exchange rates

Posted on by Tuba Zafar

KARACHI, Jan 30 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. CONVERSION RATES FOR JANUARY 30, 2023 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE […]

CWDP approves seven development projects worth Rs 22.16b

Posted on by Tuba Zafar

ISLAMABAD, Jan 27 (APP): The Central Development Working Party (CDWP) approved seven development projects worth Rs 22.16 billion during its meeting held on Friday under the chairmanship of Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal. The meeting was attended by the […]

Dar denounces tractor industry

Posted on by Tuba Zafar

ISLAMABAD 28 Jan (Online): Economic Coordination Committee (ECC) Chairman and Finance Minister Ishaq Dar has lashed out at the tractor industry for its lack of response despite getting several incentives. A number of initiatives had been taken but the tractor industry remained “non-responsive” and now […]

Oil prices fall on profit taking

Posted on by Tuba Zafar

NEW YORK 28 Jan (Online): Oil prices reversed earlier gains on Friday as indications of strong Russian oil supply offset better than expected US economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures were down […]

Oil prices rise amid positive sentiment

Posted on by Tuba Zafar

NEW YORK, Jan. 27 (Xinhua/APP) –: Oil prices advanced on Thursday, bolstered by positive sentiment. The West Texas Intermediate (WTI) for March delivery gained 86 cents, or 1.07 percent, to settle at 81.01 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude […]

Hong Kong house prices see largest drop since 1998

Posted on by Tuba Zafar

ISTANBUL, Jan 27 (AA/APP): House prices dropped by 15.6% in 2022, sharpest decline since 1998 when prices plunged by almost a third, official data released on Friday. According to Hong Kong’s public broadcaster RTHK, the Rating and Valuation Department’s data also indicated the first annual […]

Rupee loses another Rs 6.82 against dollar

Posted on by Tuba Zafar

ISLAMABAD, Jan 27 (APP): The exchange rate of the Pakistani rupee depreciated by Rs 6.82 against the US dollar in the interbank trading on Friday and closed at Rs 262.60 against the previous day’s closing of Rs 255.42. According to the Forex Association of Pakistan […]

Pakistan, Qatar discuss avenues to enhance cooperation

Posted on by Tuba Zafar

ISLAMABAD, Jan 24 (APP):Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar and Minister of Finance, State of Qatar, Ali bin Ahmed Al Kuwari during a meeting in Doha agreed to enhance cooperation in fields of science, technology, agriculture, education, trade, finance and investment. […]

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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