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Businesses have suffered immensely in recent times due to high inflation rates, war, and the ever-changing situation of the world. Many automobile industries in Pakistan have reduced, postponed, or delayed their production and plants due to the non-availability of raw materials. Pak Suzuki Motor Company Limited, another major automobile company has decided to increase its …
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KARACHI: Sindh Minister for Industries and Cooperatives Jam Ikramullah Dharejo has issued orders to the Secretary Industries to prepare a summary of 1 billion rupees for the development works of the Korangi Industrial Area. Speaking at the Korangi Association of Trade and Industry (KATI), the provincial minister said that 5 billion rupees were approved by …
Karachi, 17 January 2023 – Visa, the world leader in digital payments, has announced the appointment of Umar Khan who will lead its operations in the country in his new role as Country Manager for Pakistan. The appointment reaffirms Visa’s commitment to supporting clients & partners and accelerating growth in consumer payments and commerce in …
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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. The …
Continue reading “Reko Diq Project to Start Production by 2028”
The energy minister of Saudi Arabia, Prince Abdul Aziz bin Salman explained Saudi Arabia’s plight to utilize domestically sourced uranium as nuclear fuel. He said, “The kingdom intends to utilize its national uranium resources, including in joint ventures with willing partners in accordance with international commitments and transparency standards.’ He further mentioned that “the entire …
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Inflation rates are rising day by day in every corner of the world. Pakistan is not exempted from this crisis as well. The foreign reserves are down to $4.5 billion but the expenses are imports on the way are worth billions of dollars as well. It is reported that Pakistan might suffer a pulse crisis …
Pakistan has focused greatly on the development of the agricultural sector and now the government of Khyber Pakhtunkhwa (KPK) held a meeting to improve the agricultural sector of the region. The former governor of KPK, Shah Farman held a meeting at the Saudi Royal Embassy to discuss the production capacities and investment opportunities for the …
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Handicraft items in Pakistan are loved all over the world because of their unique designs. They are mostly produced in rural areas and Quetta, Balochistan. The Balochistan government has decided to strengthen the inherent talent of local crafters to promote their products on an international level. The government suggests that handicraft is an integral part …
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The State Bank of Pakistan (SBP) has released data on the country’s foreign exchange reserves. According to the SBP, the country’s foreign exchange reserves decreased by 284.7$ million in the last trading week of December. SBP said that the country’s total foreign exchange reserves stood at 11.42$ billion as on December 30, 2022. According to …
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Canada has granted 4,37,000 immigration grants to immigrants last year in 2022, setting a record for the largest annual intake of people in Canadian history. The government of Canada has always focused on boosting the economy with the help of immigrants and almost 100% of the Canadian economy runs on immigrant labor. The immigration minister …
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Inflation rates are increasing day and day and so is the price of gold. The price of gold has witnessed a spike recently. Gold prices rose and became Rs. 3300 per tola in Pakistan breaking all the previous records. However, gold prices remained unchanged in the international bullion market but broke records in Pakistan on …
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The economic crisis has impacted many businesses. Numerous industries such as Millat Tractors, Toyota Motors, Suzuki Motors, and Indus Motors suspended their operations in Pakistan due to high inflation rates, and a ban on imported raw materials. This situation has created immense trouble for businesses in Pakistan. Now, another industry, KSB Pakistan suspends production which …
Karachi: BankIslami and Institute of Business Management (IoBM) entered into an agreement to establish a “Center for Islamic Business & Finance” in Karachi on 28th December, 2022. The MoU signing ceremony was organised at the main campus of IoBM. The event was attended by CEO of BankIslami Syed Amir Ali, President IoBM Mr. Talib S. …
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As the year 2022 is nearing its end, analysts are looking at the possibilities 2023 can bring. The Mastercard Economics Institute released its annual forecast for a multi-speed global economy in “Economic Outlook 2023.” However, what does a multi-speed global economy mean? According to the Mastercard Economics Institute, the multi-speed global economy means that some …
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An extremely critical level of $5.82 billion was reached by the State Bank of Pakistan’s (SBP) foreign exchange reserves on Thursday, according to statistics. This represents a further $294 million decline. SBP-held reserves are at their lowest level since April 2014. The nation’s total holdings of liquid foreign exchange were $11.71 billion. There were $5.89 …
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Karachi: President of Korangi Association of Trade Industry (KATI) Faraz-ur-Rehman welcomed the decision by the government and State Bank to lift the ban on LCs. KATI termed it as optimistic for the economy. President KATI said that the government had accepted the long-standing demand of the business community, and the ban would have created a …
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Karachi: Globe Residency REIT (GRR) was listed at the Pakistan Stock Exchange on Wednesday by Arif Habib Dolmen REIT Management Limited at a Gong Ceremony, making it Pakistan’s first listed Developmental Real Estate Investment Trust (REIT). Minister for Finance, Senator Ishaq Dar was the Chief Guest on the occasion. Arif Habib, Chairman, Arif Habib Dolmen …
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One of the largest textile companies in Pakistan, Nishat Chunian has announced that it will partially close down operations in the company. Nishat Chunian Limited discussed in the Pakistan Stock exchange filing that, ‘the company has an installed capacity of 219,528 spindles and 2,880 rotors in its spinning division. Company has decided to temporarily close 51,360 …
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There has been a lot of speculation regarding the financial status of Pakistan with several analysts suggesting that Pakistan will default in the near time because of huge amounts of unpaid debt and the rising inflation rate each day. However, Finance Minister Ishaq Dar has something else to say contrary to popular opinion at the …
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After the news was published on the Daynews.tv about Suzuki company, Toyota, and Indus Motors made an announcement about suspending their production plant in Pakistan. State Bank of Pakistan SBP decided lifting the ban on Letter of Credits (LCs). The initiative was taken by the SBP to lift the Ban on imported will have positive …
The Balochistan government is all set to move ahead with the Reko Diq project to turn Balochistan into a trade hub despite facing internal and external troubles. Reko Diq project started in 1993 but could not continue because of many factors. However, the Balochistan government will make it happen this time. Reko Diq Project Continues …
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Karachi: The Pak Suzuki Motor Company (PSMC) on Monday, has announced to suspend its production for a short period due to foreign exchange crisis in the country and non-opening of LCs for the import of raw materials. Audio: Mashhood Ali Khan We at Daynewstv spoke to Mashhood Ali Khan, former chairman of Pakistan Association of …
Continue reading ““2023 to be Toughest Year for Auto Industry” Mashhood Ali Khan”
The Pak Sukuzi Motor Company (PSMC) announced on Monday that all of its production facilities will be shut down due to a shortage of inventory as a result of a ban on the import of auto parts. The decision will be effective from 2nd January to 6th January 2023. Head of Public Relations and official …
