TLP observes country-wide strike against soaring inflation The call has been given to protest against hike in prices Businesses partially/completely closed in many cities The Tehreek-e-Labbaik Pakistan (TLP) has given a country-wide call for a strike today against the soaring inflation and recent petroleum products price hike. As per reports pouring in from different cities, … Read more
Nearly three years of sporadic lockdowns, messed-up supply lines, and restrictive laws have made the country unwelcoming to foreign workers. Political unrest and protests are bad for business. The Chinese government claims to be acting in some way. The extraordinary protests over the weekend could not have come at a worse time for foreign companies … Read more
China’s two largest technology companies fined for failing to comply with anti-monopoly rules. List of 28 transactions that did not comply with regulations was released by market regulator. Maximum possible penalty for each offence is 500,000 yuan, equivalent to $74,688. China’s market regulator announced on Sunday that the nation’s two largest technology companies, Alibaba (9988.HK) … Read more
UK businesses have asked for stability after Boris Johnson’s resignation as PM. The CBI said the “political vacuum” must be quickly filled to protect peoples’ living standards. Former Prime Minister John Major called the PM’s plans imprudent and might not be sustainable. Following Prime Minister Boris Johnson’s resignation as Conservative leader and the start of … Read more
Six out of ten customers expect cheap costs to have a bigger impact on where they shop. The Institute of Customer Service surveyed 10,000 people as part of its review of customer service. A third of those surveyed were still open to paying more for quality service. According to a survey, six out of ten … Read more
Pakistan’s tax system is rife with corruption and evasion. This super tax would hurt the business sector, the financial and economic system’s backbone. Due to high inflation, layoffs and poverty may rise. The current administration levied a 10% direct’super tax’ on large-scale lucrative enterprises as a “poverty alleviation tax.” Raising the corporation and income tax … Read more
Bangladesh’s prime minister orders all businesses, markets and markets to close at 8 p.m. daily. The announcement is to save energy and power because energy prices are going up around the world. Prime Minister Sheikh Hasina issued the directive in a Friday evening memo. Prime Minister of Bangladesh, Sheikh Hasina, has instructed all relevant parties … Read more
Malaysian companies are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers. Despite lifting a COVID-19 freeze on recruiting foreign workers in February, Malaysia has not seen a significant return of migrant workers due to slow government approvals. Malaysian organizations from palm oil manors to semiconductor creators … Read more
Dave Clark, Amazon’s Worldwide Consumer CEO, is resigning after 23 years at the e-commerce giant. Clark helped build and oversee the company’s sprawling logistics network. The departure comes as Amazon faces new challenges, including slowing growth, regulatory scrutiny, and labor unrest. Amazon encountered a flood popular and recruiting during the pandemic as customers moved a … Read more
The Dow and S&P 500 finished a rollercoaster session essentially flat, concluding a bruising week of losses on an uncertain notice. Worries about a recession as the Federal Reserve hikes interest quotes and inflation exams patron resilience weighed in the marketplace all week, pushing the S&P 500 right into a undergo market earlier in Friday’s session. The … Read more
Some of the Trump-generation price lists imposed on China seem to harm consumers and organizations extra than address actual problems posed via the Asian large, US treasury secretary Janet Yellen said Wednesday because the Biden management mulls lifting the punitive duties. American tariffs on masses of billions of greenbacks of Chinese imports are due to … Read more
The UK sanctioned 12 members of Russian President Vladimir Putin’s “close circle,” including his reputed girlfriend, on Friday, accusing them of concealing tens of billions of dollars on his behalf. Putin’s ex-wife Lyudmila Ocheretnaya and Alina Kabaeva, a former Olympic gymnast described as his “present companion” by UK officials, were among those named, as was … Read more
According to US government data issued Tuesday, orders for big-ticket manufactured items picked up the pace again last month, as businesses reported increased demand for a variety of commodities. The Commerce Department said that durable goods orders rose 0.8 percent in March, which was less than economists expected but a reversal from the over two … Read more
Germany will take on an additional 39.2 billion euros ($421 billion) of debt in 2022 to counter the economic impact of the warfare in Ukraine, assets within the finance ministry stated Monday. The supplementary finances, set to be placed in the cupboard on Wednesday, will enhance the entire recent borrowing for the yr to 138.9 … Read more
KARACHI: The persistent increase in the cases of coronavirus pandemic has badly affected the entire business chain of Pakistan, especially the Micro, Small and Medium-sized Enterprises (MSMEs), resulting in an economic crisis-like situation in the country. Most of the enterprises are facing various issues with a certain degree of losses, including decrease in the demand-supply … Read more
RAYONG: Oil washing up on a beach on Thailand’s east coast could be the “nail in the coffin” for pandemic-hit hotels and restaurants, local hospitality businesses said on Saturday. The Thai navy and pollution experts are scrambling to clean up Tuesday night’s spill in the Gulf of Thailand where at least 60 tonnes of crude … Read more
BEIJING: China on Tuesday unveiled new guidelines to ease pressures on foreign trade companies and keep the country’s exports and imports stable. The country will further open up the economy and carry out cross-cyclical adjustments to support medium, small and micro-sized foreign trade companies, and guarantee their orders and stabilise expectations, according to the guidelines … Read more
KARACHI: Irfan Ahmed, an electric generator assembling business owner in Karachi and a Perkins’ authorised distributor, calculates at least 20 per cent decline in his January revenues and predicts a similar trend in the months ahead. “Just in two days, the cost of materials and parts we use surged around 10 per cent because … Read more
SINGAPORE: Singapore’s economy grew 7.2 per cent last year, rebounding from its worst recession since independence sparked by the coronavirus pandemic, government data showed on Monday. The city-state plunged into its worst economic performance in 2020 as businesses and international borders shut down, choking its trade and tourism economic lifeline. Authorities initially imposed tough measures to … Read more
BEIJING: Getting wine, chocolate, and coffee into China could get even harder from Saturday, with new import restrictions, adding fresh hurdles for the foreign companies bringing products into the world’s largest market for food and drink. Chinese consumers bought $108 billion worth of imported produce in 2020, with that number set to grow for 2021 as … Read more
BEIJING: Beijing has tightened the rules on overseas listings by Chinese firms in a series of new regulations that increase scrutiny of companies seeking to raise funds on foreign stock markets. China has stepped up scrutiny of major overseas listings after a controversial New York IPO by ride-hailing giant Didi Chuxing went ahead this year, despite … Read more
RIYADH: Saudi Arabia’s Public Prosecution on Tuesday announced the establishment of an independent specialised unit to investigate financial frauds, the Saudi Press Agency reported. Saudi Arabia is taking several measures to ensure the protection of consumers and businesses within the kingdom and from criminals operating outside. [embedpost slug=”/saudi-arabia-to-privatise-all-its-airports/”]
LONDON: Britain and Australia finalised in a virtual ceremony on Thursday a free trade deal that is expected to unlock more than £10 billion in trade annually. The deal, which was agreed in principle in June, is the first free trade deal that Britain negotiated from scratch since its EU exit earlier this year to have … Read more
LAHORE: Minister for Labour Ansar Majeed Khan has inaugurated the electronic balloting for annual audit of businesses establishments, a statement said. The Punjab Employees Social Security Institution (Pessi) arranged the event at its head office. The minister said 18,269 enterprises and factories have been included in the balloting, which choose a self-assessment scheme. Through this … Read more
DUNMURRY, United Kingdom: In a factory in Dunmurry on the edge of Belfast, black and green boxes of ventilation systems destined for Poland are piled high, each bearing the European energy label. The EU member state is Brookvent’s largest market, despite the UK’s departure from the bloc and disputes about post-Brexit trading arrangements in Northern Ireland. … Read more
BEIJING: China’s largest e-commerce group Alibaba said on Monday it is appointing a new chief financial officer and reorganising its e-commerce businesses, amid a regulatory crackdown in the technology industry, Arab News reported. The company said in a statement that Toby Xu will succeed Maggie Wu as its new CFO from April 1, 2022. Xu joined Alibaba … Read more
KARACHI: The business community has suggested the State Bank of Pakistan (SBP) adopt an accommodative monetary policy stance instead of further raising it. In a statement on Saturday, the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Businessmen Panel (BMP) warned the central bank of any aggressive jump in the key policy rate in … Read more
KARACHI: United States Consul General Mark Stroh visited Hub, one of the largest industrial cities of Balochistan, on December 2 to explore opportunities for the US technologies and businesses in the province and strengthen US-Pakistan economic ties, a statement said. Consul General Stroh toured the 1,292MW Hubco Power Plant, which is Pakistan’s first and largest … Read more
