Pakistan News International

Business & Economy

Pipeline uncertainty leaves Germany with energy jitters

Berlin, July 8 (AFP/APP):The Nord Stream pipeline, which supplies Germany with most of its Russian gas, will be shut down for routine maintenance from Monday — with fears rising that it may remain off for good. Germany is already feeling the effects of the energy […]

Wrong policies, only a miracle can save Pakistan from bankruptcy

ISLAMABAD, JULY 07 (Online): The Pakistan Economy Watch (PEW) on Thursday said in the presence of contradictory, ambiguous and negative policies, only a miracle can save Pakistan from going bankrupt. Pakistan had gone bankrupt in 2018 but an IMF loan and help from friendly countries […]

Fed flags risk US inflation could become entrenched: minutes

Washington, July 6 (AFP/APP): US central bankers last month flagged the concern that sky-high inflation could become persistent and reiterated their willingness to continue raising interest rates to tamp down price pressures, according to the minutes of the latest policy meeting released Wednesday. Officials were […]

PM Shahbaz orders inquiry into criminal delay over Gwadar Breakwater project

ISLAMABAD, Jul 6 (APP): Prime Minister Muhammad Shehbaz Sharif Wednesday said that he had ordered an inquiry into criminal delay in Gwadar Breakwater project as the Pakistan Tehreek-i-Insaf’s government had ignored it despite availability of grants. On his Twitter handle, the prime minister said $445m […]

S. Korean stocks fall to 20-month low, currency hits 13-year low

SEOUL, July 6 (Xinhua, APP): South Korean stocks fell to the lowest in about 20 months Wednesday on rising worry about global economic recessions, with the local currency hitting a 13-year low. The Korea Composite Stock Price Index (KOSPI) declined 49.77 points, or 2.13 percent, […]

Tokyo shares close higher

Tokyo, July 5 (AFP/APP): Tokyo stocks closed higher Tuesday, with exporters buoyed by a weaker yen, and investors watching speculation that Washington could roll back some tariffs on Chinese goods to battle inflation. The benchmark Nikkei 225 index gained 1.03 percent, or 269.66 points, to […]

SAS files for Chapter 11 bankruptcy proceedings in US

Stockholm, July 5 (AFP/APP):Scandinavian airline SAS said Tuesday it has filed for so-called Chapter 11 bankruptcy proceedings in the United States, as a part of a restructuring plan, a day after pilots walked out on strike. In order “to proceed with the implementation of key […]

Philippines inflation accelerates 6.1 pct in June

MANILA, Jul 5 (XINHUA/APP):The year-on-year inflation in the Philippines accelerated to 6.1 percent in June from 5.4 percent in May, mainly due to higher prices in food and non-alcohol beverages and transport, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa said […]

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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