Pakistan News International

Business & Economy

Telecom Italia CEO resigns after KKR buyout bid: report

Rome, Nov 27 (AFP/APP):Telecom Italia Chief Executive Luigi Gubitosi has resigned, news reports said Friday, amid increasing pressure on the top management by shareholders, including France’s Vivendi. The departure of Gubitosi, who has been at the helm of the struggling telecom company since May 2018, […]

Shoppers return for ‘Black Friday,’ but many have already bought

New York, Nov 27 (AFP/APP):Americans returned to stores for the “Black Friday” kickoff of the holiday shopping season, but online data shows that consumers have been spending big for weeks amid worries over shortages. The day after the US Thanksgiving celebration is the traditional start […]

Hammad for privatization of DISCOs to improve services, system

ISLAMABAD, Nov 26 (APP):Federal Minister for Energy, Hammad Azhar on Friday stressed the need for privatization of DISCOs to improve services and system in the country. “No government in the past could pay proper attention to gas sector,” he said while talking to a private […]

Oil tanks 10% on demand fears over new Covid variant

London, Nov 26 (AFP/APP):World oil prices slumped more than 10 percent Friday, slammed by demand fear after the emergence of a new variant of Covid-19. In late afternoon London trade, New York’s WTI crude tumbled 11.3 percent to $69.53 per barrel, while European benchmark Brent […]

IEA urges OPEC to take ‘necessary steps’ to lower oil prices

Paris, Nov 24 (AFP/APP):The head of the International Energy Agency on Wednesday called on OPEC and its allies to take measures to help bring oil prices down to “reasonable levels”. “I very much hope to see in the next meeting or meetings they… make the […]

Coal exit, weed, sovereign Europe: new German govt’s roadmap

Berlin, Nov 24 (AFP/APP): The centre-left-led alliance forming Germany’s next government on Wednesday presented their plans for Europe’s biggest economy in a coalition agreement, touching on issues from climate protection to foreign policy and cannabis. Here are the main points agreed on by the Social […]

India announces bill to ban crypto currencies

Mumbai, Nov 23 (AFP/APP):India’s government will introduce a bill to ban private crypto currencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday. The proposed bill “seeks to prohibit all private crypto currencies in India”, the […]

Tarin for stabilizing exchange rate to overcome inflation

ISLAMABAD, Nov 23 (APP):Advisor to Prime Minister on Finance and Revenue Shaukat Tarin on Tuesday stressed the need for stabilizing exchange rate to overcome inflation. Instability in exchange rate has increased the inflation and we are trying to lessen the burden from the people of […]

Not quite $1: US chain Dollar Tree announces price hike

New York, Nov 23 (AFP/APP):Inflation has come for Dollar Tree, which for decades lured American shoppers with promises of items costing just a buck, but which said Tuesday it must now raise those prices to $1.25. “The company believes this is the appropriate time to […]

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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