Despite of the risks for equities remain large as the dread coronavirus hits the global economy, Asian trade however clung to gains on Wednesday assisted by a bounce of Australian Shares. Reuters reported that, E-Mini futures for the S&P 500 traded 1.39% lower in Asian trade, highlighting the cautious mood. MSCI’s broadest index of Asia-Pacific … Read more
Air Canada has announced to temporarily lay off more than 5,100 employees as it attempts to check the impact of the coronavirus pandemic, Reuters reported that the union representing the Canadian airline’s flight attendants said has announced to temporarily lay off more than 5,100 employees. The Canadian Union of Public Employees (CUPE) said it was … Read more
Trading at Pakistan Stock Exchange halted for a second consecutive day on Thursday when share prices fell 1,752 points. The market came to a halt around 9:35am when prices rapidly fell 5.76 per cent. Trading halted yesterday less than an hour into the morning session after the benchmark KSE-100 index fell 1,682 points as investors … Read more
American multinational technology company Amazon has opened a series of small warehouses closer to big U.S. cities in a move to shave hours off delivery times. Reuters reported that Amazon updating its same-day delivery program for shoppers in Phoenix, Philadelphia, Dallas and Orlando, it said. Amazon will guarantee packages arrive by several set times daily. … Read more
Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic. Reuters reported that the epicentre of the outbreak in China’s Hubei reported just 349 new cases on Thursday, the lowest since Jan. 25, although it was accompanied by … Read more
The federal government sanctioned the release of Rs 2.8 billion for land acquisition of Sukkur-Hyderabad section of Karachi-Lahore Motorway under its Public Sector Development Programme (PSDP) 2019-20. APP reported that The government allocated an amount of Rs3.5 billion for the project during current fiscal year. According to a latest data of Planning Commission, the total … Read more
Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, Industries and Production and Investment will attend to be held in Nairobi today. Ministry of Commerce in its press release said Foreign Minister Shah Mahmood Qureshi and Abdul Razak Dawood would deliver keynote speeches, highlighting the relations of Pakistan with Africa. Commerce Secretary, Sardar Ahmed Nawaz … Read more
Airline company Eurowings cancelled more than 170 flights scheduled for Monday, Tuesday and Wednesday due to strike action by flight attendants at its sister company Germanwings. The Lufthansa low-cost carrier published the updated announcement on its website on Sunday. Eurowings said that it was in the process of minimizing the impact on travelers and that … Read more
The World Bank warned of the risk of a fresh global debt crisis after highlighting the issue of biggest build-up in borrowing in the past 50 years. British newpaper Guardian reported that In its half-yearly Global Economic Prospects (GEP), said of the four waves of debt accumulation since the 1970s. The latest the largest, fastest … Read more
The international market of oil opened with a high rise as the new year begins, crude oil prices opened with gains in first days of 2020. As per the details, international market of oil awaits additional productivity cuts by members of Organization of the Petroleum Exporting Countries (OPEC) and its allies to trim the glut … Read more
Ministry of Finance said the PTI government is doing much better than International Monetary Fund’s projection. As per details, economic performance is much better with respect to most of the macro-economic indicators including inflation rate. A spokesman of the Ministry in a statement said inflation rate expected to come down to around five percent in … Read more
The Securities and Exchange Commission of Pakistan (SECP), to explore opportunities and challenges in the digitization of insurance business, organized a workshop on “Promotion of Digital Insurance – Opportunities, Challenges and Way Forward”. The workshop was aimed at encouraging stakeholders to utilize platform of Regulatory Sandbox for introducing innovation. The SECP Commissioner (Insurance) Shaukat Hussain … Read more
At least Eight West African countries decided collectively to change the name of their common currency in a move to strengthen economic ties. According to the details, countries decided to change the name of their common currency to Eco and severed the CFA franc’s (former currency) links to former colonial ruler France. The CFA franc … Read more
Adviser to Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood hoped that shift of automobile manufacturing unit of ‘ Proton’ cars from Malaysia to Pakistan would give turnaround the local auto sector. Associated Press of Pakistan reported, “Now the new upcoming market players would not only enhance the competitiveness in local automobile market … Read more
Adviser to Prime Minister on Commerce Abdul Razak Dawood Friday said Pakistan is playing a key role in the economic development of the South Asian region and to attain the dream of possible regional integration. APP reported , he said that Pakistan believed in regional development through the platform of SAARC as it was the … Read more
China will provide more opportunities for Pakistani competitive goods to access the Chinese market under the China-Pakistan Free Trade Agreement (CPFTA) Phase-II came into force on December 1. According to APP Report, Dr. Wang Zhihua, Minister Counsellor in the Economic and Commercial Office of the Chinese Embassy in Pakistan said that “CPFTA Phase-II is a … Read more
The State Bank of Pakistan (SBP) has received $1.2 billion from the Asian Development Bank (ADB) under the budget support fund. According to the details, SBP on its official twitter handle confirmed the transfer of the loan amount to Pakistan. #SBP receives #USD 1.2 bn from #AsianDevelopmentBank | @ADB_HQ #Pakistan — SBP (@StateBank_Pak) December 9, … Read more
Alleged for installing substandard parts and overlooking the passengers safety, The government of United States has hit Boeing Co. with a proposed $3.9 million fine. US media reported that government in its statement said that the plane maker installed substandard parts on 133 aircraft and didn’t properly oversee its suppliers. The Federal Aviation Administration said … Read more
Wheat exports has reduced by 88.10 % during the first four months of the current fiscal year as compared to the previous year. According to the details, APP reported that about 48,081 metric tons of wheat valuing $11.442 million exported during the period from July-October, 2019 as against 456,689 metric tons worth $96.121 million of … Read more
Adviser to the Prime Minster on Finance and Revenue Dr. Abdul Hafeez Sheikh has said that the micro finance could help in documentation of economy owing to its outreach. According to the detail, Dr Hafeez Sheikh was addressing a ceremony in Islamabad, and stated that significant progress has been made in the micro finance sector … Read more
Trade deal between China and United States (US) could be in hot waters as President Trump has raised fresh doubts. British Media reported that Trump’s recent comments about the Trade deal with China might have to wait until late 2020 raised fresh doubts on when the dispute might end. Trump told reporters in London, “In some … Read more
Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi has said that every person who owns a car above 1000 cc and a house which measures 500 square yards or above is required to file return of income, irrespective of having any taxable income during the year. He tweeted that “FBR reiterates that every person … Read more
Masatsugu Asakawa has been unanimously elected President of the Asian Development Bank (ADB) by its Board of Governors. According to a media release by ADB, Mr. Asakawa, 61, currently, Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on 17 January 2020. He will succeed Takehiko Nakao, … Read more
Adviser to the Prime Minister of Pakistan on Finance and Revenue, Dr. Abdul Hafeez Sheikh has said that the strong rally in Stock Market shows increasing investor confidence on stabilization measures taken by the Govt. On Sunday he tweeted, “The KSE-100 index is up by 14.9% in November 2019, highest one month return after May … Read more
Shoppers hit stores worldwide as Black Friday shopping kicked off on Thanksgiving for several major retailers and online for all. Retailers across categories have been cranking out sales all week long, and they stepped up this Black Friday Eve with some of the biggest deals you’ve seen yet. Tech, gaming and toys, Home appliances and … Read more
The video-sharing site YouTube has announced that it will start providing visual advertising opportunities on the platform. YouTube officially introduced shopping ads that allow brands and businesses to visually advertise their products and services. The new shopping ads will be placed both on the YouTube home feed and the search results, thus allowing brands to … Read more
After mighty Porsche 918 Spyder and the all-conquering Bugatti Veyron, along with a super-rare Aston Martin One-77 and a Ford Mustang modified by Roush, Tesla’s all new cyber truck will be joining the Dubai Police force soon, said the Major General Dubai Police. In an interview with Arabian Business, Dubai Police Major General Abdullah Khalifa … Read more
On Thursday, the dollar increases by one paisa against the Rupee in the interbank market. According to the details, in the interbank market, currently, the US dollar is being traded at 155.33 Rs. Yesterday the rupee closed at 155.32 against the Pakistani rupee, compared with the previous closing of 155.33. In the open market, the … Read more
