Pakistan Automobile Manufacturing Association (PAMA) Reports Significant Growth in Car Sales Sales of cars in the first five months of 2024-25 increased by 49.66% compared to 2023. Honda Civic and City saw sales rise to 5,434 units, Toyota Corolla and Yaris saw a 79.40% increase, and Suzuki Swift saw a 57.45% increase. The sale of … Read more
The head of the IMF, Kristalina Georgieva, warns that the economic picture has darkened. Inflation in the US has risen to 9.1%, the highest level in more than 40 years. The G20 finance ministers and governors of the world’s central banks are meeting in Bali. The head of the International Monetary Fund has stated that … Read more
The Office for National Statistics said that the economy expanded by 0.5 percent in May. Every sector of the economy saw growth, including manufacturing, transport, and construction. There is still a real risk that the UK could enter recession, according to chief economist Paul Dales. According to official data, the UK economy expanded in May … Read more
Walgreens Boots Alliance reported quarterly sales and profitability that beat estimates. Shares fell by roughly 2% in premarket trade after the release of the earnings report. The company has increased its online offerings, such as curbside pickup and delivery. As its retail sales increased and its online sales increased, Walgreens Boots Alliance on Thursday reported … Read more
Total sales by China’s e-commerce giant JD.com rose 10.3% over the 18 days to Sunday. Chinese shoppers purchased 379.3 billion yuan ($56.48 billion) of goods on JD’s platform. The 618 event is China’s second-largest shopping festival after Singles Day. All out deals by China’s internet business monster JD.com (9618. HK) rose 10.3% over the 18 … Read more
KARACHI: The government is expected to take harsh tax measures in the federal budget 2022/23 scheduled on June 10, 2022, in order to meet expenses and improve fiscal condition. Analysts at Arif Habib Limited outlined the expected tax measures to be announced by the government to generate additional up to Rs450 billion. According to the … Read more
India’s wholesale price index (WPI) increased by 15.08 percent year on year, reaching a new high. Annual inflation rose to 7.79 percent in April, the highest level since May 2014. India is a member of the G20, a worldwide economic intergovernmental organisation. The government must be innovative and think of new ways to protect people’s … Read more
KARACHI: Moody’s on Thursday downgraded Pakistan’s outlook from stable to negative due to the country’s external vulnerability risk and uncertainty around the country’s ability to secure additional financing to meet its needs, a statement said. Pakistan’s external vulnerability risk has been amplified by rising inflation, which puts downward pressure on the current account, currency and … Read more
India’s economy slowed even more in the first three months of 2022, the National Statistics Office reported Tuesday, as inflation and increasing oil costs hampered the country’s post-pandemic recovery. According to NSO data, Asia’s third-largest economy gained 4.1 percent year on year in the fourth quarter. The annual growth rate for the 12 months ending in … Read more
Thailand’s exports, which are a major engine of the country’s economic development, increased 9.9% year on year in April, according to figures released on Friday. According to figures issued by the country’s Ministry of Commerce, growth slowed from an increase of 19.5 percent in March, falling below market expectations of 14.6 percent. According to the … Read more
KARACHI: The unconsolidated earnings of D G Khan Cement Company Ltd (DGKC) recorded a decline of 30 per cent to Rs1.4 billion translating into the earnings per share (EPS) of Rs3.3 during the third quarter of fiscal year 2022. The company recorded a profit of Rs2 billion (EPS: Rs4.7) during the third quarter of the … Read more
Russia’s invasion of Ukraine has rocked markets and triggered nations to impose retaliatory measures that would hurt the global economic system, however, no economic crisis has materialized, the IMF said Tuesday. In its present-day Global Financial Stability Report, the Washington-primarily based crisis lender said Moscow’s assault on its neighbor is “no longer a globally systemic … Read more
European stock markets the majority of time fell Tuesday, as the impact of the Ukraine war spread with the IMF slashing its world’s growth forecasts. Wall Street became up, with the three primary indices reporting rises of round zero. Eight percentage after starting, a marked alternate from Monday when markets have been decreasing over issues … Read more
Tracee Ellis Ross recently discussed her personal growth, saying that she was pleased of who she was today since she had never felt comfortable in her own skin before. Despite the fact that the Girlfriends star is the daughter of legendary singer Diana Ross, she has carved a name for herself in Hollywood because to … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Rice Exports Convener Rafique Suleman congratulated Mian Shahbaz Sharif on becoming Prime Minister of Pakistan, a statement said. In the current situation, the focus should be on improving the economic situation, improving the GDP growth rate, and further developing the agricultural … Read more
KARACHI: The profit before tax of Standard Chartered Bank Pakistan Limited (SCBPL) recorded a growth of 5 per cent to Rs24.8 billion in 2021, compared with Rs23.6 billion in 2020. Performance was driven by strong balance sheet growth, continued productivity improvements and risk discipline. The bank’s revenue was lower by Rs3.5 billion primarily due to … Read more
KARACHI: Toyota will invest over $100 million for the local production of hybrid electric vehicles (HEVs) in Pakistan. The investment would go towards localisation of components, plant expansion and production preparation for the first hybrid electric vehicle to be manufactured at the Indus Motor Company Limited (IMC) plant located at Port Qasim, Karachi, said Ali … Read more
BEIJING: Chinese investors are pivoting to new opportunities in hard technologies with venture capital investments in related areas hitting a new high, which experts believe will help replicate the success of the consumer internet in new growth. Hard tech, which is also known as deep tech, is the term coined for areas that rely heavily … Read more
BEIJING: China will be able to achieve around 5.5 per cent GDP growth this year, and it has room for making macroeconomic policy adjustments to support the economy, experts said on Friday. Zhu Guangyao, former vice-minister of finance, told a news briefing in Beijing that the economy’s potential growth rate will likely be between 5 … Read more
ISLAMABAD: Minister for National Food Security and Research Syed Fakhar Imam on Wednesday stressed the need for ensuring easy access to credit facility for growers in order to promote and develop the agricultural sector in the country. The Minister chaired a meeting of the National Coordination Committee of Agriculture Transformation Plan to discuss the progress … Read more
Just like the whole world, Pakistan’s economy also showed signs of recovery from the Covid-19 pandemic in 2021 but rising twin deficits and inflationary pressures eroded the gains and made the life of a common man miserable. Unlike 2020, in which lukewarm economic activity was witnessed, the year 2021 remained better for the economy. The … Read more
ISLAMABAD: The exports of services from Pakistan witnessed an increase of 22.94 per cent during the first five months of financial year 2021/22 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-November 2021/22 were recorded at $2720.94 million against the exports of $2213.16 … Read more
RIYADH: Saudi Arabia was among the top countries in the Middle East and North Africa for new venture capital deals in the third quarter of 2021 with startups raising SR769 million ($205 million) from 91 deals, Arab News reported. It is a 439 per cent hike as compared with the figures of a year ago during which … Read more
WASHINGTON: China has an important part to play in the global economy, as it recovers from the Covid-19, but its growth is slowing, IMF managing director Kristalina Georgieva said on Monday. The head of the Washington-based crisis lender held a virtual meeting with Chinese Premier Li Keqiang and discussed topics ranging from inflation to the recovery … Read more
LAHORE: Speakers at the launching ceremony of a report have stressed the need for devising short-term and long-term strategies for achieving potential growth of the economy. Speaking at the launching of “The state of the economy: changing world-Pakistan reset” at the Lahore Chamber of Commerce and Industry (LCCI), they highlighted critical challenges that needed to … Read more
JEDDAH: Renewable energy will make up to 95 per cent of the total global power capacity growth in the next five years, Arab News quoted the International Energy Agency, as saying. IEA executive director Fatih Birol said when it comes to renewables, solar power plays the most significant role. “Solar is the new king of … Read more
ISLAMABAD: Islamic finance is one of the most rapidly growing sectors of the global financial system, as it has emerged as an effective tool for financing development worldwide, including in non-Muslim countries, a senior government official said. Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin virtually addressed the 10th Islamic Finance Expo … Read more
RIYADH: Saudi Arabia is taking more steps to develop and protect the Red Sea, which the kingdom deems to be a big contributor to the growth of its tourism industry, Arab News reported. The Saudi Cabinet approved on Tuesday the establishment of a new body to protect the coral reefs and sea turtles in the Red Sea, … Read more
