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Business & Economy

Foreign trade of China’s Inner Mongolia up 17.2 pct

Posted on by News Desk

HOHHOT, Jan 9 (XINHUA/APP):Foreign trade volume of north China’s Inner Mongolia Autonomous Region reached over 112 billion yuan (about 17.6 billion U.S. dollars) from January to November 2021, up 17.2 percent year on year, the regional commerce department said Friday. The region’s imports in the […]

Kosovo seizes hundreds of cryptocurrency mining devices

Posted on by Tuba Zafar

Pristina, Jan 8 (AFP/APP):Kosovo police on Saturday seized hundreds of cryptocurrency mining machines and arrested one person in the tense ethnic-Serb majority north as the country suffered an energy crisis. Cryptocurrencies like Bitcoin are created through solving complex equations — an endeavour that consumes enormous […]

Eurozone inflation hit record high in December

Posted on by News Desk

Brussels, Jan 7 (AFP/APP):Eurozone inflation hit a record annual rate of five percent in December, the Eurostat agency said Friday, the highest level since 1997 when records began. The rate is a first estimate but confirms a trend led by soaring energy prices, rising from […]

Leather goods export increases 11% in 5 months

Posted on by Tuba Zafar

ISLAMABAD, Jan 4 (APP):The leather goods exports witnessed an increase of 11.03 percent during the first five months of current financial year (2021-22) as compared to the exports of corresponding period of last year. Pakistan exported leather goods worth US $266.595 million during July-November (2021-22) […]

Tibet’s GDP grows about 7 percent in 2021

Posted on by Tuba Zafar

LHASA, Jan. 4 (Xinhua/APP):The gross domestic product (GDP) of southwest China’s Tibet Autonomous Region grew about 7 percent in 2021, said Yan Jinhai, acting chairman of the regional government. Tibet’s GDP surpassed 200 billion yuan (around 31.4 billion U.S. dollars) last year, said Yan in […]

Hundreds of ex-Air Italy staff laid off

Posted on by News Desk

Milan, Jan 3 (AFP/APP):More than 1,300 staff at Italian carrier Air Italy, which went bust in 2020, on Monday began receiving letters terminating their employment, trade unions said. Pilots and cabin crew had been protected by a furlough scheme since the February 2020 bankruptcy of […]

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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