Business

KARACHI: Trading in the shares of Gamer Pakistan, one of the first Pakistan-based firms to get listed on a US stock exchange, began on Monday with the share price losing about 30 per cent of its value by the time of the filing of this report. Gamer Pakistan is an early-stage technology and e-sports company focused on game development, in-game …

MARRAKESH: The IMF and World Bank began talks on Monday in their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every …

KARACHI: Share prices rose on the Pakistan Stock Exchange on Monday despite a selloff in the early hours of trading. Topline Securities Ltd said the KSE-100 index slid into the red zone in the early part of the session but buying interest resumed in the last hour, letting the benchmark close on the higher side. The sell-off in the initial …

The Organisation of Petroleum Expor­­­ting Countries (Opec) and the Organisation for Economic Co-operation and Deve­lopment’s energy watchdog — the International Energy Agency (IEA) — are on a war path. In an opinion piece dated September 11 carried in the Financial Times, Fatih Birol, the executive director of the IEA, said the world was heading towards the end of the fossil fuel era. “The …

In today’s dynamic global economy, research and development (R&D) serve as a pivotal driver of progress, nurturing the birth of innovative products, state-of-the-art technologies, and revolutionary methods to connect with clients to enhance market share and profit margins. Nevertheless, amidst its unquestionable importance, a worrisome trend has surfaced within Pakistan’s business realm — a hesitancy to allocate resources for R&D. …

With an alarming backdrop of a 170 per cent increase in carbon emissions over the past three decades and an increased climate flooding risk, Pakistan’s environmental canvas demands urgent attention. The price of neglect? According to the World Bank, an astronomical 6pc of Pakistan’s GDP (Rs365 billion per year) is lost to environmental degradation annually. Over 7,200 glaciers in Northern …

In a recent Dawn article, the authors — a former governor of the State Bank of Pakistan (SBP), chairman of Habib Bank Limited and president of Bank of Punjab — have discussed in detail a serious problem of Pakistan’s economy: unsustainably high level of currency in circulation (CIC). Apart from unleashing other miseries in the economy and society, consistent buildup in CIC …

RIYADH: Opec heavyweights said on Sunday oil and gas should not be stigmatised in the climate debate and that the industry had a role to play in an orderly energy transition. Energy ministers from Saudi Arabia, the United Arab Emirates and Iraq, the three largest members of the Opec, have gathered in the Saudi capital Riyadh for the UN MENA …

KARACHI: Minister for Energy, Power and Petroleum Muhammad Ali has said there are no short-term solutions to the issue of the circular debt. Speaking at the 20th Annual Excellence Awards organised by the CFA Society Pakistan on Friday evening, Mr Ali said a roadmap to address the issues in the energy sector, including the circular debt, will be developed by …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued a warning to the general public against investing in fraudulent investment schemes of Meilleuretech Services, a sole proprietorship concern. The SECP has noticed that the entity, owned by Zeeshan Munir, is prima facie accepting deposits from the public illegally by offering various illegal “advertisement watching packages” and promising unrealistic …