Pakistan News International

Business & Economy

Samsung Electronics forecasts 27.9% jump in operating profits: filing

Seoul, Oct 8 (AFP/APP):South Korean tech giant Samsung Electronics defied supply chain challenges to forecast a near-30-percent jump in operating profits for the third quarter on Friday. The world’s biggest smartphone maker said it expected its operating profits to reach around 15.8 trillion won ($13.3 […]

US Senate green-lights stop-gap deal to avert debt default

Washington, Oct 8 (AFP/APP):The US Senate voted Thursday to stave off a credit default that would have sparked a recession and roiled world markets as Democrats and Republicans agreed to a stop-gap fix to raise the nation’s debt limit. The breakthrough — which temporarily defers […]

Chinese central bank boss vows to further fintech crackdown

Beijing, Oct 8 (AFP/APP):China will strengthen supervision of the online payments industry and continue its anti-monopoly crackdown, the governor of the central bank said, indicating Beijing will press ahead with a regulatory crackdown on the country’s technology giants. Authorities have for about a year targeted […]

LAHORE, Oct 07 (APP):Pakistan’s Insurance Industry has great potential in the wake of forthcoming CPEC (China-Pakistan Economic Corridor) labor projects and Chinese companies are interested to invest in this sector too. Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Mr. Wang Zihai expressed these […]

Pakistan committed to abide by all obligations under GSP-Plus regime: Commerce secy

ISLAMABAD, Oct 7 (APP):Commerce Secretary Muhammad Sualeh Ahmad Faruqui has reiterated Pakistan’s commitment to abide by all obligations under the international conventions covered by Generalized System of Preferences (GSP+). The Commerce Secretary reiterated the country’s commitment as he held one-on-one meetings with some of the […]

Putin agrees to “carefully” increase gas supplies amid price hike

MOSCOW, Oct 7 (XINHUA/APP):The current hike in gas prices is not beneficial for Russia, and the country could increase gas supplies on the market in a cautious way, President Vladimir Putin said Wednesday. “We do not need such speculative excitement,” Putin said at a meeting […]

Security cameras installed to eliminate corruption from KPT: Ali Zaidi

ISLAMABAD, Oct 6 (APP):Minister for Maritime Affairs Ali Haider Zaidi on Wednesday said that security cameras had installed at Karachi Port Trust (KPT) to eliminate corruption. Talking to a private television channel, he said there was reports of corruption at KPT and we had closed […]

Tarin to attend IMF yearly summit next week

Islamabad – October 6 (Online): Federal Revenue Minister Shaukat Tarin is expected to visit United States coming week to attend International Monetary Fund (IMF)’s yearly summit. According to details, virtual negotiations between Pakistan and the IMF are underway currently for issuance of 100 billion dollars’ […]

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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