Pakistan News International

Business & Economy

Cryptocurrency platform FTX files for bankruptcy, boss resigns amid tumult

New York, Nov 11 (AFP/APP):Crisis-struck cryptocurrency platform FTX has gone bankrupt in the United States and its chief executive Sam Bankman-Fried has resigned, it said Friday, the latest blow in a saga that has reverberated across the digital currency landscape. The filing comes after the […]

Pakistan-Iran Joint Border Commission agrees on boosting bilateral trade

ISLAMABAD, Nov 11 (Online): Pakistan-Iran Joint Border Commission agrees on boosting bilateral trade. The two countries issued a joint declaration at the end of the 24th annual meeting of the commission in Islamabad. Pakistan-Iran Joint Border Commission has taken important decisions on border security, human […]

World Bank delegation calls on ACS

PESHAWAR, Nov 11 (APP):A three-member delegation of World Bank called on Additional Chief Secretary (ACS), Shahab Ali Shah to discuss matters of mutual interest here on Friday. The World Bank comprising South Asian Regional Director for infrastructure, Guanzhe, Transport Specialist, Muhammad Bilal Paracha and Sr. […]

More UK misery as economy contracts in third quarter

London, Nov 11 (AFP/APP):Britain’s economy shrank in the third quarter as inflation soars, official data showed on Friday, likely confirming it is already in a recession, dealing a fresh blow to new Prime Minister Rishi Sunak. The Bank of England has said the UK economy […]

NA body briefed on Port Qasim’s business model

ISLAMABAD – November 10 (ONLINE) Senate Standing Committee on Maritime Affairs ON Thursday was briefed Port Qasim and Gwadar Port Authority. According to details, a meeting of committee was held Thursday. Committee was informed of the main business model of Port Qasim and that it […]

Sports goods exports witness 31.18 % increase

ISLAMABAD, Nov 10 (APP):Sports goods exports during the first three months of fiscal year of 2022-23 grew up by 31.18 percent as compared to the exports of the commodity during the corresponding period of last year. During the period from July 22 to Sep 22, […]

US inflation eases in October but still near decades-high

Washington, Nov 10 (AFP/APP):US consumer prices cooled in October but remained at decades-high levels, according to government data released Thursday, keeping the pressure on President Joe Biden as his Democratic party struggles to retain control of Congress. The closely-watched report showed more evidence of rising […]

MOU Signed between PSW & DRAP For Cross-Border Trade Facilitation

Islamabad, November 11 (PNI) Pakistan Single Window (PSW) and the Drug Regulatory Authority of Pakistan (DRAP) signed a Memorandum of Understanding (MoU) today to further expand their partnership for trade facilitation through the integration of cross-border business processes of DRAP. The integration of DRAP systems […]

British online furniture store Made.com collapses

London, Nov 9 (AFP/APP):Made.com, the British online furniture store, collapsed Wednesday after it was hammered by supply-chain disruptions and a slump in consumer spending as inflation soared. UK clothing-to-furniture giant Next is to buy the failed group’s brand, websites and intellectual property. More than half […]

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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