Category: Business

Business news from Pakistan

ADB to approve $1.5 bn loan for Pakistan this month: Country Director

ISLAMABAD, Oct 5 (APP):The Asian Development Band (ADB) will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month. Country Director ADB for Pakistan Yong Ye said on Wednesday.… Continue reading ADB to approve $1.5 bn loan for Pakistan this month: Country Director

Murtaza appreciates APO’s role in development of Asia-Pacific region

ISLAMABAD, Oct 5 (APP):Federal Minister for Industries and Production, Syed Murtaza Mahmud on Wednesday appreciated the Asian Productivity Organization (APO)’s role in the development of Asia-Pacific region. Expressing views while addressing an opening ceremony of International Conference on Productivity Accreditation and Certification for Pakistan, Syed Murtaza also conveyed his gratitude to APO Secretary General on… Continue reading Murtaza appreciates APO’s role in development of Asia-Pacific region

Pakistan desires robust business ties with Zimbabwe: Naveed Qamar

ISLAMABAD, Oct 5 (APP):Pakistan wants strong business ties with Zimbabwe to enhance trade, connectivity and mutually beneficial partnership, said Federal Minister for Commerce and Investments Syed Naveed Qamar. The minister expressed these views in a meeting with Non-Resident Ambassador of Zimbabwe, Lt Gen (Retd) Martin Chedondo, who visited the Minister’s office here on Wednesday. Talking… Continue reading Pakistan desires robust business ties with Zimbabwe: Naveed Qamar

PSX continues with bullish trend, gains 260 points

ISLAMABAD, Oct 5 (APP):The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Wednesday, gaining 260.99 points, a positive change of 0.63 percent, closing at 41,611.42 against 41,350.43 points on the last working day. A total of 635,590,113 shares were traded during the day compared to 593,437,368 shares the previous day, whereas… Continue reading PSX continues with bullish trend, gains 260 points

Rupee gains Rs 1.70 against dollar

ISLAMABAD, Oct 05 (APP):Pakistan rupee on Wednesday appreciated by Rs 1.70 against the US dollar in the interbank trading and closed at Rs 223.93 against the previous day’s closing of Rs 225.63. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs… Continue reading Rupee gains Rs 1.70 against dollar

Services’ trade deficit shrinks 9.84% as exports grow by 8.25% in 2 months

ISLAMABAD, OCT 5 (APP): The services trade deficit shrunk by 9.84 percent as exports witnessed growth of 8.25 percent during the first two months of the current fiscal year compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. According to latest PBS data, the exports from the country during July-August… Continue reading Services’ trade deficit shrinks 9.84% as exports grow by 8.25% in 2 months

Meezan Bank wins ‘Best Company in Financial Category’ award

KARACHI, Oct 05 (APP): Meezan Bank, Pakistan’s leading Islamic bank has been conferred with the top honour in the Financial Sector category at the Management Association of Pakistan’s (MAP) 37th Corporate Excellence Awards ceremony held recently, at Movenpick Hotel, Karachi. The Award recognizes Meezan Bank for its outstanding performance and demonstrating progress and enlightened management… Continue reading Meezan Bank wins ‘Best Company in Financial Category’ award

Lucky Cement Awarded MAP’s Corporate Excellence Award

KARACHI, Oct 4 (APP): Lucky Cement Limited (PSX: LUCK) won the Management Association of Pakistan’s Corporate Excellence Award in the Cement Sector category. Atif Kaludi, Chief Financial Officer of Lucky Cement Limited received the award at the 37th MAP Annual Corporate Excellence Award Ceremony held at a local hotel yesterday. The Corporate Excellence Awards was… Continue reading Lucky Cement Awarded MAP’s Corporate Excellence Award

PSX continues with bullish trend, gains 138 points

ISLAMABAD, Oct 4 (APP):The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 138.73 points, a positive change of 0.34 percent, closing at 41,350.43 against 41,211.70 points on the last working day. A total of 593,437,368 shares were traded during the day compared to 185,369,288 shares the previous day, whereas… Continue reading PSX continues with bullish trend, gains 138 points

CPEC energy projects generate 46,000 job opportunities

ISLAMABAD, Oct 4 (APP):Some 46,500 Pakistanis have been employed so far in the energy projects (completed and under-construction) under the umbrella of China Pakistan Economic Corridor (CPEC). Considering the various economic fissures prevailing in Pakistan (i.e, inequitable underdevelopment, low energy access, low human capital, and accompanying low productivity), the CPEC power plants have performed commendably… Continue reading CPEC energy projects generate 46,000 job opportunities

Trade deficit narrows by 21.42% as exports increase to $7.125 billion in Q1

ISLAMABAD, OCT 4 (APP): The trade deficit witnessed a decline of 21.42 percent, with a considerable decline in imports and upward trend in exports during the first quarter (Q1) of the current fiscal year as compared to the corresponding period of last year. The exports during July-September (2022-23) were recorded at $7.125 billion against the… Continue reading Trade deficit narrows by 21.42% as exports increase to $7.125 billion in Q1

Qatar to invest in country’s energy, trade, other sectors

ISLAMABAD, Oct 4 (APP):The Ambassador of the State of Qatar, Sheikh Sauod bin Abdulrahman bin Faisal Al-Thani, here on Tuesday expressed his government’s intention to invest in various sectors of Pakistan economy, especially in energy, trade and businesses. The investment would help further strengthening the bilateral economic ties between both of the countries, the ambassador… Continue reading Qatar to invest in country’s energy, trade, other sectors

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