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Business & Economy

Tokyo stocks close lower ahead of Powell speech

Posted on by News Desk

Tokyo, Aug 27 (AFP/APP):Tokyo stocks closed lower Friday with investors cautiously awaiting a speech by Fed Chair Jerome Powell for clues on plans to roll back the US central bank’s stimulus measures. The benchmark Nikkei 225 index fell 0.36 percent, or 101.15 points, to 27,641.14. […]

ICCI inks MoU with NUTECH to promote academia-industry linkages

Posted on by News Desk

Islamabad August 25 (Online): The Islamabad Chamber of Commerce & Industry (ICCI) has signed a Memorandum of Understanding (MoU) with National University of Technology (NUTECH), Islamabad to promote academia-industry linkages and produce demand-driven graduates for the industry. SardarYasirIlyas Khan, President, Islamabad Chamber of Commerce & […]

Pakistan receives US$2.75 billion from IMF

Posted on by News Desk

ISLAMABAD, The State Bank of Pakistan (SBP) has received US$ 2.75 billion from the International Monetary Fund (IMF), as part of Special Drawing Rights (SDR) allocation announced by the fund recently, the central bank confirmed through a tweet here Tuesday. “#SBP has received US$ 2.75 […]

FPCCI, Morocco agrees for promotion of trade, investment

Posted on by News Desk

ISLAMABAD, (APP):The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and the Kingdom of Morocco on Monday agreed for promoting bilateral trade and investment promotion and also to exchange of business delegations. Ambassador of the Kingdom of Morocco to Pakistan, Mohamed Karmoune visited FPCCI […]

Pakistan’s regional exports increase 20.50% in July 2022

Posted on by News Desk

ISLAMABAD, Pakistan’s exports to the seven regional countries witnessed an increase of 20.50 percent in first months of current financial year (2021-22) as compared to the corresponding month of last year. The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, […]

Currency rates of NBP

Posted on by News Desk

KARACHI, Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Friday. CURRENCY SELLING BUYING USD 166.30 162.51 GBP 226.63 221.44 EUR 194.30 190.20 JPY 1.5154 1.4808 SAR 44.39 43.28 AED 45.29 44.53 […]

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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