Pakistan News International

Business & Economy

IMF urges training boost to handle pandemic job shift

Paris, Oct 20 (AFP/APP):With certain sectors haemorrhaging jobs while others can’t find enough qualified workers due to the economic upheaval unleashed by the coronavirus pandemic, the IMF on Wednesday urged Europe states to step up training programmes. “The Covid-19 pandemic could result in a sizable […]

UK annual inflation dips to 3.1 percent: official

London, Oct 20 (AFP/APP):British annual inflation eased to 3.1 percent in September, official data showed Wednesday, remaining close to a nine-year peak that risks a UK interest rate rise as soon as November. The annual rate fell from 3.2 percent in August, which was the […]

UK music industry lost third of jobs over Covid: trade

London, Oct 19 (AFP/APP):Britain’s music industry lost more than one third of its jobs owing to the pandemic, an industry body revealed Tuesday, as it urged greater government support to aid the recovery. Employment across the sector slumped 35 percent annually to 128,000 jobs in […]

Hong Kong stocks open higher

Hong Kong, Oct 19 (AFP/APP):Hong Kong shares kicked off Tuesday morning with more gains following a healthy Wall Street lead fuelled by optimism over corporate earnings. The Hang Seng Index added 0.24 percent, or 61.50 points, to 25,471.25. The Shanghai Composite Index fell 0.16 percent, […]

Sanghar tops in cotton production

SANGHAR, Oct 18 (APP):After cultivation of the cotton crop Sanghar district of Sindh stood first for yielding cotton production in the country. According to a report of Pakistan Cotton Ginners Association, around 12,57439 cotton bales reached in ginneries of Sanghar while Bahawal Nagar district stood […]

US industrial output drops in Sept as supply issues plague economy

Washington, Oct 18 (AFP/APP):Output by US industries fell sharply last month amid continued supply constraints hindering manufacturing, according to official data released Monday. The rapid surge in demand for goods as the American economy reopened in the wake of the Covid-19 shutdowns has created severe […]

PML-N to run ‘anti-inflation’ movement

[1:03 AM, 10/18/2021] Zafar Malik: Lahore – October 17 (Online): Largest opposition party Pakistan Muslim League Nawaz (PML-N) has decided to hold nationwide protests against record-high inflation, sources said Sunday. According to details, a telephonic consultation took place between PML-N president Shehbaz Sharif and JUI-F […]

115 projects in sports, culture, tourism sector reflected in ADP

PESHAWAR, Oct 17 (APP):A total of 115 projects have been reflected in the Annual Development Programme (ADP) of the current financial year under the Sports, Tourism, Culture, Youth Affairs and Archaeology Department. Out of these projects, 106 are ongoing and 9 are new projects. Similarly […]

No deadlock with IMF; clarifies Finance Ministry

ISLAMABAD, Oct 17 (APP):The ministry of finance on Sunday, rejecting the news regarding failure of talks between Pakistan and the International Monetary Fund (IMF), said there was not any deadlock with the IMF. Finance ministry spokesman Muzammil Aslam, in a statement, said that there was […]

Jordan, Saudi investors launch Fly Aqaba

Amman, Oct 17 (AFP/APP):Jordan announced Sunday the signing of an accord to launch an airline financed by investors in the kingdom and Saudi Arabia to serve the Red Sea resort area of Aqaba. The new airline, Fly Aqaba, was set up with $20 million in […]

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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