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Business & Economy

Saudi targets $100 bn yearly in foreign investment

Posted on by Tuba Zafar

Riyadh, Oct 11 (AFP/APP):Saudi Arabia seeks to attract foreign investment of more than $100 billion annually under a National Investment Strategy announced Monday as part of efforts to diversify the oil-dependent economy. The strategy is expected to raise annual foreign direct investment flows to 388 […]

Ten EU states back France in UK fishing row

Posted on by Tuba Zafar

Paris, Oct 11 (AFP/APP):France and 10 other EU members called on Monday for a common front against Britain over its handling of a row with Paris over post-Brexit fishing licences in its waters. Countries including Germany, Spain and Italy joined the French in condemning the […]

US stocks begin week with losses

Posted on by Tuba Zafar

New York, Oct 11 (AFP/APP):Rising energy prices defeated Wall Street’s early tentative momentum on Monday, with major indices finishing the day with losses. Stocks began the session with mixed sentiment but that turned decisively negative by the end of the day. Oil prices surged to […]

Tokyo stocks close higher

Posted on by Tuba Zafar

Tokyo, Oct 11 (AFP/APP):Tokyo stocks closed higher on Monday, boosted by gains in Chinese shares as investors picked up bargains. The benchmark Nikkei 225 index shed earlier losses to end up 1.60 percent, or 449.26 points, to 28,498.20 yen. The broader Topix index rose 1.77 […]

Hong Kong stocks open with gains

Posted on by Tuba Zafar

Hong Kong, Oct 11 (AFP/APP):Shares in Hong Kong rose at the open on Monday, extending last week’s advance, led by a rally in tech firms, though traders remain on edge over the debt crisis at property giant Evergrande. The Hang Seng Index jumped 1.30 percent, […]

Currency rates of NBP

Posted on by Tuba Zafar

KARACHI, Oct 11 (APP):Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Monday. CURRENCY SELLING BUYING USD 172.66 168.75 GBP 235.47 230.10 EUR 199.80 195.60 JPY 1.5327 1.4980 SAR 46.04 44.99 AED 47.02 46.25 […]

NBP-Rates

Posted on by Tuba Zafar

KARACHI, Oct 11 (APP):(11-10-21) EXCHANGE RATES FOR CURRENCY NOTES CURRENCY SELLING BUYING USD 172.66 168.75 GBP 235.47 230.10 EUR 199.80 195.60 JPY 1.5327 1.4980 SAR 46.04 44.99 AED 47.02 46.25 LIBOR LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS LIBOR 1M 0.08363 LIBOR 3M 0.12113 […]

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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