Pakistan News International

Business & Economy

Nickel soars to record above $100,000 per tonne

London, March 8 (AFP/APP): The price of nickel skyrocketed to a record high on Tuesday over concerns about Russian production as the Ukraine conflict has rocked commodity markets. The metal, which is used to make stainless steel and batteries for electric vehicles, briefly traded at […]

European stocks extend slump at open

London, March 7 (AFP/APP): European stock markets plunged at the open Monday as investors pumped their money into assets deemed safer such as gold. Frankfurt dived 3.6 percent and Paris shed 3.0 percent. Outside the eurozone, London lost 0.8 percent, with losses capped by strong […]

Italy freezes Russian oligarch assets worth 140 mn euros

Rome, March 5 (AFP/APP):The value of frozen assets including luxury yachts and property held by Russian oligarchs in Italy amounted to around 140 million euros, the Italian government said on Saturday. The most expensive asset was the “Lady M Yacht” belonging to Alexei Mordashov, a […]

Russia’s Aeroflot says halting all flights abroad from March 8

Moscow, March 5 (AFP/APP): Russia’s flagship airline Aeroflot said Saturday that it was suspending all its international flights beginning March 8, as Moscow faces waves of Western sanctions over its military incursion in Ukraine. An Aeroflot statement on the “temporary suspension of all international flights […]

Tesla awaits green light to start production at German plant

  Berlin, March 4 (AFP/APP): After a series of administrative delays, US electric car pioneer Tesla is on the verge of receiving the go-ahead from German authorities on Friday to begin production at its “giga-factory” outside Berlin.   Officials in the eastern state of Brandenburg, […]

Sri Lanka hikes rates as economy risks collapse

Colombo, March 4 (AFP/APP):Sri Lanka’s central bank hiked interest rates by one percentage point on Friday and urged the government to increase taxes as the country skirts economic collapse. The troubled South Asian island nation is in the grip of a severe foreign exchange crisis […]

Ikea suspends Russia, Belarus operations, affecting 15,000 staff

Stockholm, March 3 (AFP/APP): Swedish furniture giant Ikea said Thursday it would suspend its activities in Russia and Belarus, affecting nearly 15,000 employees, 17 stores and three production sites, in response to the war in Ukraine. “The war has had a huge human impact already. […]

World’s largest sovereign wealth fund says Russia assets down 90%

Oslo, March 3 (AFP/APP):Norway’s sovereign wealth fund, the world’s largest, on Thursday estimated that its Russian assets had been reduced to a tenth of their value, over the war in Ukraine and sanctions imposed on Russia. At the end of 2021, the fund held some […]

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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