Pakistan News International

Business & Economy

Fed attacks US inflation with another interest rate hike

Washington, July 27 (AFP/APP):The US Federal Reserve on Wednesday again raised the benchmark interest rate by three-quarters of a percentage point in its ongoing battle to tamp down raging price pressures that are squeezing American families. It was the second straight 75 basis point increases, […]

Miftah calls for reforms to improve efficiency of State Owned Enterprises

ISLAMABAD, July 27 (Online): Finance Minister Miftah Ismail has emphasized for reforms to improve the efficiency of State Owned Enterprises. Addressing a seminar on Improving the Corporate Governance and Performance of SOEs, in Islamabad on Wednesday, he admitted there is no dearth of competency in […]

Thailand’s exports rise 11.9 pct in June

BANGKOK, July 27 (Xinhua) APP):Thailand’s exports rose 11.9 percent year on year in June, driven by increasing global demand and a weakening baht, commerce ministry data showed on Wednesday. The value of the exports totaled 26.55 billion U.S. dollars last month, according to official data, […]

Don’t let inflation ‘genie’ out of the bottle: IMF economist

Washington, July 26 (AFP/APP): The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF’s chief economist said Tuesday. With price surges in major economies approaching 10 percent, central banks must stay the […]

Google-parent Alphabet’s profit slips as growth slows

San Francisco, July 26 (AFP/APP):Google-parent Alphabet on Tuesday reported its profit in the recently ended quarter slipped to $16 billion as its long sizzling ad revenue growth cooled. Big tech firms are grappling with multiple problems, from inflation to the war in Ukraine, and results […]

PM Shehbaz reviews current reserves of wheat in country

ISLAMABAD, July 26 (Online): A high-level meeting, chaired by Prime Minister Muhammad Shehbaz Sharif in Islamabad on Tuesday, reviewed the current reserves of wheat in the country, potential demand and import tenders. Federal Ministers Miftah Ismail, Syed Naveed Qamar, Tariq Bashir Cheema and senior officials […]

Philippines central bank rules out off-cycle rate move

MANILA, Jul 26 (XINHUA/APP): The Philippine central bank on Tuesday ruled out off-cycle monetary policy rate move. “One thing I can say is you can surprise people only once, so there will be no more off-cycle (monetary policy move),” Bangko Sentral ng Pilipinas (BSP) Governor […]

Indonesia export steel products for 1st time to New Zealand

JAKARTA, Jul 26 (XINHUA/APP):Indonesian Trade Minister Zulkifli Hasan inaugurated on Tuesday the first export of Indonesia-produced structure and plate steel to New Zealand. The 3,800 metric tons of steel products worth 4 million U.S. dollars were produced by PT Gunung Raja Paksi (GGRP), a member […]

EU debates plan to cut Russian gas and protect Germany

Brussels, July 26 (AFP/APP):EU ministers debated Tuesday how to reduce gas consumption this winter, an act of solidarity for Germany and a response to Russia’s manipulation of supplies as an economic weapon. The plan, under discussion in Brussels, could see exceptions and carve-outs as European […]

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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