Pakistan’s Finance Minister, Ishaq Dar held a meeting in Islamabad with the Egyptian business Tycoon and CEO of an Egyptian company called Eighteen Elite Real Estate, Tarek Hamdy. In this meeting, the Egyptian tycoon revealed his desire to work and invest in Pakistan. He said, Egyptian investors, have long-standing business relations with Pakistan in the …
Category Archives: Business
Reko Diq Project Continues After Court’s Approval
Reko Diq is the world’s largest undeveloped mine of copper and gold which is located in the Chaghai District in Baluchistan, Pakistan. It is the largest mine in the world because it has estimated reserves of 5.4 billion tonnes of copper and gold ore. However, a dispute case stopped the development of this project. But …
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Pakistan Gets $475 Million Loans from ADB
Pakistan became the victim of climate change earlier this year when heavy floods strangle the provinces of Sindh and Khyber Pakhtunkhwa. Abnormal rains, thunderstorms, and melting glaciers all surrounded Pakistan and resulted in immense damage. Due to floods, more than 1700 people died among which many were women and children. Floods damaged countless properties, villages, …
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FTX Founder Sam Bankman Arrested
The founder of the cryptocurrency exchange FTX, Sam Bankman-Fried was arrested in the Bahamas after bankruptcy Sam Bankman-Fried became the biggest name in the cryptocurrency exchange market as he established FTX and build a billion-dollar company. However, things did not go smoothly as expected as the cryptocurrency exchange crashed. Bankman-Fried filed for bankruptcy in the …
NBP, SIAPEP sign Letter to promote High-Efficiency Irrigation Systems
Karachi: National Bank of Pakistan (NBP) and the Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP), a government initiative, have signed an agreement in Karachi to promote high-efficiency irrigation systems for efficient use of water and crop productivity. The SIAPEP is providing financial assistance to eligible farmers at the rate of 60% of the total cost …
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Renowned Industrialist, Leader Business community SM Muneer passes away in Karachi
Karachi: Renowned Industrialist and leader of Business community Shaikh Muhammad Muneer (S.M Muneer, aka Bhai Jan) breathed his last in Karachi. According to details, he was long been ill and had his kidney transplant previously. His family informed that Din Group’s chairman’s Namaz e Janaza will be held after Zuhar at 1.30pm on November 29 …
Kamran Tessori Discusses Issues of Business Community with Finance Minister
KARACHI: Governor Sindh Kamran Tessori has said that he is the ambassador of the business community who talks to the government conveying the problems of businessmen and industrialists as their representative. Two days later, Federal Finance Minister Ishaq Dar is visiting the Governor House, where he will address all the issues faced by the business …
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USAID Helps Flood Affected Farmers in KPK
USAID’s initiative Economic Recovery and Development Activity (ERDA) will help flood affected farmers in Khyber Pakhtunkhwa. USAID-ERDA program will provide assistance to agriculture, livestock, cooperative department and government of Pakistan. It is estimated that they will provide 743 tons of wheat seeds, more than 1000 tons of fertilizer to 14000 flood affected farmers of Pakistan. …
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First Hybrid Electric Car All Set to Launch in Pakistan
Pakistan is all set to launch first ever hybrid electric car model on November 17th 2022, manufactured by Sazgar Engineering Pakistan’s leading rickshaw manufacturer, Sazgar Engineering Works Limited has announced to launch first hybrid electric car in Pakistan. It will be released under the brand name ‘Haval’ on 17th November, 2022. They announced this exciting news …
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ISSI Organises it’s Third Thought Leaders on Thursday
Karachi: The Institute of Strategic Studies Islamabad (ISSI) organized its third Thought Leaders Forum (TLF) on Thursday. Many significant personalities attended the event organized on November 17 including Senator Dr. Musadik Masood Malik, Minister of State Ministry of Energy Petroleum Division, Ambassador Aizaz Ahmad Chaudhry Director GeneralISSI Organises it’s Third Thought Leaders on Thursday The …
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World Bank Decides to Give $1.3 Billion to Pakistan
World Bank will provide $1.3 billion to Pakistan to provide agricultural and housing relief for flood-stricken population This year Pakistan faced unprecedented floods that damaged acres of land, people’s properties and took lives of hundreds of people. Ministry of national food and security, Tariq Bashir Cheema revealed that the World Bank has decided to give …
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SBP Governor Ensures Pakistan’s Stability
SBP Governor says that Pakistan has enough dollars to remain stable and avoid default position that everyone fears Governor of State Bank of Pakistan (SBP), Jameel Ahmed assured the nation that Pakistan has enough dollars in its reserves to meet foreign debt obligations. Recently an event took place at Institute of Business Administration (IBA) where …
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Europe’s Top Stock Market is Not London Anymore
London’s stock market has lost its position as the Europe’s top stock market because of struggling economy Britain’s stock market remained the top stock market for many years but now it has been dethroned by French stock market. The economy of UK has been in a turmoil and many UK companies have suffered immense damage …
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UK to be Hit by Worst Recession in History
The UK economy is witnessing a shrink and is going through economically tough time and is expected to experience a recession The analysts suggest that UK economy shrank between July and September and is expected to be hit by a long recession. The country is going through a recession because of market collapse, high inflation …
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‘Oreo’ Company Decided To Remove Ads from Twitter
The biscuit ‘Oreo’ makers have decided to pull off their ads from Twitter because of increase in hate speech. Mondelez, the famous corporation that makes biscuits and chocolates, have decided to take a decision related to twitter. They are extremely popular for making chocolates like Cadbury and Milka. They also make Oreo biscuits which is …
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KE Introduces Eco friendly Bill to Address Climate Change
Karachi: K-Electric (KE) has taken a step to address climate change by introducing its new “Hara bill”. KE introduced an environmentally friendly bill from this month in November. The idea of the environmentally friendly bill is to prevent over 92 tonnes of paper-based waste from entering Karachi’s landfills. This will also preserve over 4200 trees, …
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China’s Trade Takes a Jolt and Shrinks
China’s trade shrinks unexpectedly as Covid curbs, suffers economic slowdown China’s economy paints a struggling picture at the moment as the country’s imports and exports get contracted. China is still recovering from the Covid situation at home and with the recession on the way, China’s policymakers need to think a lot about their plans. The …
NBP wins World’s Best Bank Awards 2022
Karachi: The National Bank of Pakistan (NBP) has won the Best Bank Award in Asia-Pacific for 2022, on Thursday as Global Finance announced its 29th Annual Best Bank Awards. President Joseph Giarraputo, Global Finance presented the Best Bank Award in Pakistan to NBP’s countryhead in the USA, Mr. Syed Farhan Ahmad. Global Finance regularly selects …
PM Shahbaz Meeting with China’s President
PM Shahbaz Sharif had a meeting with China’s President Xi Jinping on Wednesday to discuss the financial stability and construction projects. The leaders met at the Beijing’s Great Hall of the People during PM Sharif’s two-days visit to China. In this meeting, PM Shahbaz Sharif and President XI Jinping discussed “broad-based cooperation in economy and …
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Iftekhar Ahmed & Company introduces ABC Juice, Pak’s First ever instant energy booster
KARACHI: Iftekhar Ahmed & Company (IAC) has launched Pakistan’s first ABC Juice, an instant energy booster with the ability to improve immunity and detoxify the body. The Company invested $10 million in Food and beverages sector and will invest another $15 million in the next four years, said Director IAC, Waheed Ahmed. The company is …
Pakistan Government in Dilemma Over RLNG
Winters are around the corner and the government is in dilemma over the diversion of costly imported RLNG to domestic consumers in winter. There is already high inflation and a gas deficit is on the way as well. The government is trying to determine a quantity that it should divert to domestic consumers during the …
Pakistan’s Risk of Default Rise to 52.8%
Pakistan is at the risk of being declared as a default nation by credit default swap (CDS) based on its performance in five years. During the Covid-19 outbreak, the CDS was just around 5% to 6% only. But it has gradually increased over time. Earlier this year, it also peaked rise at 30% when there …
K-Electric cuts 5,000 Illegal Connections, warns power thieves
Karachi: K-Electric has decided to take action against power theft, as many as 762 anti-power thefts drive across the city in August and has removed 5,384 illegal connections from its service areas. These kunda-removal drives that took place in different parts of the city, including Surjani, New Karachi, Gulistan-e-Johar, Orangi, Liaquatabad, Nazimabad, Bin Qasim, and …
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