Pakistan News International

Business & Economy

Murunj Dam to generate 12 MW cheap electricity

ISLAMABAD, Jan 09 (APP):Murunj Dam Project to be constructed on Kaha Nullah, 116 km west of Rajanpur would generate 12 megawatt (MW) cheap and environmental-friendly electricity, while having the gross water storage of 800,000 acre feet. Kaha Nullah is one of the largest hill torrents […]

Foreign trade of China’s Inner Mongolia up 17.2 pct

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 […]

Turkey launches new high-speed rail line in central Anatolia

ANKARA, Jan 9 (XINHUA/APP): Turkish President Recep Tayyip Erdogan on Saturday inaugurated a high-speed rail line connecting the provinces of Konya and Karaman in central Anatolia. “We are determined to make Turkey a center country in railway transportation, like many other fields, by rapidly completing […]

Kosovo seizes hundreds of cryptocurrency mining devices

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

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 […]

Unemployment rate in Philippines down to 6.5 pct in November

MANILA, Jan 7 (XINHUA/APP):Around 3.16 million Filipinos were out of work in November, down from the 3.5 million recorded in October, according to a Philippine Statistics Authority (PSA) survey released on Friday. “The country’s unemployment rate of 6.5 percent in November was the lowest since […]

LCCI, Alibaba, Nextbridge organize awareness seminar for LCCI members

LAHORE, Jan 06 (APP):As a part of its strategy to help businesses to have the exciting journey into the world of e-commerce, Lahore Chamber of Commerce and Industry (LCCI) organized an awareness seminar in collaboration with Alibaba and Nextbridge here at the LCCI on Thursday. […]

Tarin to launch FBR’s ‘National Sales Tax Return’ on Friday

ISLAMABAD, Jan 06 (APP):Building further on its ongoing drive for digitization to facilitate the taxpayers, promote ease of doing business and reduce compliance costs, FBR achieved one more milestone by developing National Sales Tax Return. This important project is all set to be launched by […]

Leather goods export increases 11% in 5 months

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

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 […]

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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