Pakistan News International

Business & Economy

China factory activity slumps further on energy woes

Beijing, Oct 31 (AFP/APP):Factory activity in China plunged more than expected in October, official data showed Sunday, suggesting the industrial sector continued struggling as it grappled with tight power supply and surging raw material costs. The key Purchasing Managers’ Index (PMI) — a gauge of […]

What’s in the global tax reform agreed by the G20?

Rome, Oct 30 (AFP/APP):After years of negotiations, G20 leaders on Saturday endorsed an historic deal aimed at ending tax havens, although some developing countries complain it still falls short. Some 136 countries representing more than 90 percent of global GDP have signed the OECD-brokered deal […]

Petrol prices to remain unchanged

ISLAMABAD, Oct 30 (APP):As per directions of the Prime Minister of Pakistan, the prices of petroleum products will remain unchanged for next fortnight to provide relief to the masses, Finance Ministry said Saturday. In a statement issued here, the ministry said, If there would be […]

Saudi Aramco Q3 profits soar 158 percent on higher oil prices

Riyadh, Oct 31 (AFP/APP):Saudi Aramco’s earnings rose 158 percent year-on-year in the third quarter on higher oil prices and volumes sold as the global economy recovered, it said on Sunday. “The increase in net income was primarily the result of higher crude oil prices and […]

FBR collects revenues of Rs 1841, surpasses collection target by Rs 233 bn

ISLAMABAD, Oct 30 (APP):The Federal Board of Revenue (FBR) has collected net revenue of Rs1,841 billion during July-October of current Financial Year (2021-22), exceeding the target of Rs1,608 billion by Rs 233 billion. According to provisional figures released here Saturday, this represents a growth of […]

Businessmen for reducing production cost as high inflation threatens economy

Islamabad-October30 (Online): The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel has stressed the need for reducing cost of doing business, besides evolving a new price control mechanism, as the inflation in has broken all records during the last three years, with food […]

US Congress braces for frantic year end with Biden agenda at stake

Washington, Oct 29 (AFP/APP):US lawmakers are heading into the holiday season after one of the busiest legislative periods in years, with President Joe Biden having failed so far to coalesce Democrats around make-or-break spending bills that he hopes will improve his sagging approval ratings. Facing […]

Iran petrol network partially restored after cyberattack

Tehran, Oct 29 (AFP/APP):Iran’s subsidised petrol distribution system was partially restored Friday, three days after an unprecedented cyberattack by unknown perpetrators, authorities said. Among 4,300 fuel stations across the country, “at present, 1,450 are connected to the central fuel distribution system,” said Fatemeh Kahi, a […]

US inflation has not yet subsided, posing challenge to Biden

Washington, Oct 29 (AFP/APP):President Joe Biden has bet that the high US inflation rate will decline and help the case for the spending plans he’s staked his presidency on, but data released Friday instead showed prices remaining stubbornly high in the world’s largest economy. There […]

Pakistan Stock Exchange launches new trading system

KARACHI, Oct 28 (APP):Pakistan Stock Exchange (PSX) has launched a new trading system, which was purchased from Shenzhen Stock Exchange (SZSE) of China. The system is deployed on state-of-the-art, robust, and advanced servers in house to meet and exceed the trading needs of PSX and […]

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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