Pakistan News International

Business & Economy

Spain inflation hits 10.2%, highest level since 1985

Posted on by Tuba Zafar

Madrid, June 29 (AFP/APP): Inflation in Spain has jumped to its highest level since 1985, largely driven up by soaring energy prices, official data showed on Wednesday. Inflation has soared worldwide as economies have emerged from the Covid pandemic while Russia’s invasion of Ukraine has […]

Consultative Session on maximum utilization of coal

Posted on by Tuba Zafar

Islamabad, June 29, 2022 (Online): A consultative session was held at NEPRA Tower to discuss how to maximize utilization of coal (both local and imported) as a cheaper source of electricity generation to reduce power tariff. The session was presided by NEPRA Authority including Chairman […]

Vietnam’s CPI up 2.44 pct in 6 months

Posted on by Tuba Zafar

HANOI, Jun 29 (XINHUA/APP):Vietnam’s consumer price index (CPI) rose 2.44 percent year on year in the first six months of this year, according to the country’s General Statistics Office on Wednesday. In the first half of 2022, items posting the most significant price hikes included […]

South Africa escalates power cuts to acute levels

Posted on by News Desk

Johannesburg, June 28 (AFP/APP):South Africa, a country plagued by power shortages, on Tuesday imposed the toughest electricity rationing in two and a half years after labour disputes disrupted production at several plants. Highly unpopular power rationing to consumers was ramped up to so-called Stage 6 […]

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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