Category: Business
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Prime Minister Shehbaz Sharif secures $3 billion investment package in Qatar visit
Prime Minister Shehbaz Sharif returned to Islamabad but was not empty-handed. In addition to a $600 million investment package from Saudi Arabia, Mr Sharif also managed to get Qatar to pledge three billion dollars across various sectors in Pakistan. This investment from Qatar is vastly different from the ones received by Saudi Arabia. This is…
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Dollar falls to 152 against rupee on Google
The United States (US) Dollar on Friday evening took a dive against the Pakistani rupee on the Google currency converter, leaving traders perplexed. As per the details, the USD crashed to Rs152.62 from Rs277.50 earlier in the evening. While no statements were issued by Google or Morningstar Inc that provides the search giant with data…
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PIA auction fails: Sole bid rejected by government for being too low
Spectators watched as the televised auction of the flag carrier, Pakistan International Airlines (PIA), failed horribly. The government seemed interested in selling PIA for the right price but did not approve the sale when the sole bid was off by 88.2 per cent of the original value. The reason for only one bid is the…
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Can African imports of Pakistani tractors save the ‘sinking industry’?
Farmers and tractor producers watched on as officials in Pakistan’s high commission in Kenya facilitated the export of Pakistani tractors. These tractors are headed to their new home in Tanzania: Masai Trekta Company Ltd’s tractor depot. The export deal marks a significant moment for ATS (ATS tractors), which does not operate on the same scale…
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Pakistani rupee closes October at Rs277.85 against US dollar
The Pakistani rupee (PKR) weakened by 5.77 paisa, or 0.02 per cent, against the US dollar (USD) in Thursday’s interbank market, closing at Rs277.85 per USD.
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Gold price increases by Rs2,900 per tola to new record
On Wednesday, gold prices rose by a massive Rs2,900 per tola in the local market, reaching Rs287,900.
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Vegetable shortage crisis: Export surge could spell trouble for farmers
Businessmen involved in the agricultural sector managed to boost vegetable exports by 11.5 per cent in the first quarter of the fiscal year. This comes at a time when seasonal rains have left vegetable fields devastated nationwide – especially in Sindh. The consequence of mass exports and heavy rainfalls has caused major shortages in the…
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Pakistan eyes over $12 billion in Riyadh investments
Business owners in Pakistan have their eyes set on the Riyadh meetings as developments in the Future Investment Initiative (FII) are underway. Prime Minister Shahbaz Sharif and the delegation from Islamabad is expected to bring back upwards of $12 billion in investments. Premier will be meeting the Crown Prince Muhammad bin Salman along with other…
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ADB approves loan to help Pakistan deal with climate change
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to help Pakistan tackle climate change and improve disaster risk reduction and resilience.
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Can trade with India guide Pakistan out of the darkness?
Independent power producers and business owners in the pharmaceutical industry worriedly watched the developments of the World Bank meetings on Sunday. This is because, during the IMF and World Bank meetings, Finance Minister Muhammad Aurangzeb stressed the importance of trade links with India. Pakistan is a net importer of power and pharmaceutical products, which ensures…