Home / Business (page 3)

Business

Economic cost of Harvey, Irma could be $290 bn: forecaster

WASHINGTON-UNS : The combined economic cost of Hurricanes Harvey and Irma could reach $290 billion, equivalent to 1.5 percent of the US gross domestic product, US forecaster AccuWeather said in a report on Sunday. “We believe the damage estimate from Irma to be about $100 …

Read More »

Pakistan, Bosnia agree to bolster trade relations

ISLAMABAD -UNS: Pakistan and Bosnia have agreed to enhance bilateral trade and withdrawal of double taxation system. The agreement was reached during a meeting between President Mamnoon Hussain and Bosnian counterpart and Herzegovina Bakir Izetbegovic, on the sidelines of OIC summit on Science and Technology …

Read More »

Pakistan, Kazakhstan agree to execute joint energy, communication, defence projects

ASTANA -UNS: Pakistan and Kazakhstan Saturday agreed to execute joint projects in the fields of defence, energy and communication to widen the bilateral cooperation. The agreement was reached during a meeting between President Mamnoon Hussain and Prime Minister of Kazakhstan Bakytzhan Sagintayev who arrived at …

Read More »

Pakistan seeks changes in free trade agreement with China

ISLAMABAD: Pakistan will try to convince Chinese authorities to revise the existing free trade agreement (FTA) on the less-than-equal reciprocity principle, Commerce Minister Pervaiz Malik. The move is aimed at overcoming the trade imbalance that exists between the two countries. “We will demand an early-harvest …

Read More »

Pakistan inflation rate rises to 3.42 percent

ISLAMABAD -UNS: Pakistan’s annual inflation rate increased to 3.42 percent in August from 2.91 percent a month earlier, the state Bureau of Statistics said on Tuesday. On a month-on-month basis, the inflation rate was 0.19 percent in August, the bureau said. Food items such as …

Read More »

BRICS: Towards New Horizons of Strategic Partnership

By Vladimir Putin The 9th BRICS Summit will be held in Xiamen, China, on September 4 and 5. I consider it important in this regard to present Russia’s approaches to cooperation within the framework of this large and respected association and to share my views …

Read More »

CPEC projects transparent : Yabeite was not working in Pakistan: Lijian Zhao

ISLAMABAD -UNS: China has denied that Jiangsu Yabaite Technology Co. Ltd, a Chinese firm allegedly involved in a corruption scam involving Multan metro bus project, was operating in Pakistan. Lijian Zhao, Deputy Head of Mission at Chinese Embassy in Islamabad, issued the clarification in response …

Read More »

HBL to shut down New York branch as US financial regulator seeks to impose hefty penalty on bank

KARACHI -UNS : Habib Bank Ltd is likely to face civil monetary penalty of up to US$0.6 billion as the US financial regulator has issued the bank notices for its operation in New York. According to a letter written by the bank to Pakistan Stock …

Read More »

PM stresses for encouraging tax culture to boost national economy

KARACHI: Prime Minister Shahid Khaqan Abbasi Saturday called for expanding the tax base in the country, besides encouraging the tax-paying culture in order to boost the national economy. The prime minister, in a meeting with a delegation of prominent businessmen led by Muhammad Ali Tabba …

Read More »

Foreign reserves rise to $14,375.1 million

KARACHI -UNS: The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose 0.45% on a weekly basis, according to data released by the central bank on Thursday. The SBP’s press release states, “On August 18, the foreign currency reserves held by the …

Read More »