Pakistan News International

Business & Economy

WB approves 1955 million dollars loan for Pakistan

ISLAMABAD, DEC 23 (Online): World Bank (WB) has approved loan amounting to 1955 billion dollars for Pakistan. A statement issued by ministry of economic affairs has said the loan amount will be utilized for improvement in energy sector. The statement further said the agreement between […]

Ryanair doubles annual loss forecast on Omicron

London, Dec 22 (AFP/APP):Low-cost airline Ryanair said Wednesday that the Omicron coronavirus variant would have a strong impact on its financial performance as it more than doubled the forecast for its annual loss. The Irish airline now expects a loss of between 250 to 450 […]

Biden says government averted US holiday supply chain ‘crisis’

Washington, Dec 22 (AFP/APP):President Joe Biden argued Wednesday that by working with shipping firms and unions, his administration helped prevent a feared shortage of gifts for the holidays. Reeling from a fresh political wound — that his signature social spending and climate bill was potentially […]

Tarin urges for automation in FBR to facilitate taxpayers

ISLAMABAD, Dec 22 (APP):Adviser to Prime Minister on Finance and Revenue, Shaukat Tarin on Wednesday said that automation in Federal Board of Revenue, (FBR) is Important for taxpayers facilitation. The Adviser to Prime Minister on Finance and Revenue, Shaukat Tarin chaired an important meeting on […]

Kyrgyzstan ‘open to out-of-court settlement’ in gold mine row

Bishkek, Kyrgyzstan, Dec 22 (AFP/APP):Kyrgyzstan is open to settling its differences with the Canadian investor that operated its giant Kumtor gold mine before authorities took it over earlier this year, a top official said Wednesday. Kyrgyzstan justified its May seizure of the mine, which accounted […]

With arrival of Intel, Europe to gain advanced chips

Paris, Dec 22 (AFP/APP):Europe will soon produce a strategically vital component in the modern global economy as US semiconductor giant Intel chooses the site for a new cutting-edge chip factory. Recent problems in global supply chains have highlighted the fundamental importance of semiconductors, which are […]

Economic indicators showing positive tendency amid govt policies: Fawad

Islamabad – December 21 (Online): Minister for Information and Broadcasting Chaudhry Fawad Hussain has said all economic indicators show positive trajectory and economic stability due to the prudent polices of the government. While briefing the media about the decisions taken in the cabinet meeting Tuesday, […]

Norway and Sweden oil firms merge in 12 bn euro deal

Oslo, Dec 21 (AFP/APP):Norwegian oil company Aker BP said Tuesday it would acquire Sweden’s Lundin Energy’s oil and gas activities in a merger valued at 125 billion Norwegian kroner ($13.9 billion, 12.3 billion euros). The company will be the largest of its kind “focused purely […]

US to return $154 mn stolen by Sony employee and converted to bitcoin

Washington, Dec 21 (AFP/APP):The US Department of Justice said Monday it has taken action to return more than $154 million allegedly stolen from a Sony subsidiary by one of its Japanese employees who converted it into bitcoin. According to the civil forfeiture complaint filed Monday […]

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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