Business

KARACHI: This time, the wind didn’t spare anyone. No one was able to break par in the second round of the Sindh Open Golf Championship, even though Pakistan number one Shabbir Iqbal stretched his lead by two strokes to six at the Airmen Golf Course on Saturday. The strong gusts blowing since Friday afternoon continued to make shot-making difficult and …

KARACHI: Trading on the stock market remai­ned dull for the most part in the outgoing week owing to a rising number of Covid-19 cases as well as higher global commodity prices, according to Arif Habib Ltd. However, the investors’ sentiments turned positive on the last day of trading as the government revised GDP growth rate for 2020-21 from 3.94 per cent to …

BEIJING: Exports to China increased 68.9 per cent in 2021 to $3.58 billion while total trade between the two countries stood at $27.82bn, according to data released by the General Administration of Customs (GACC) of China. Exports to China crossed $365.35 million in December 2021, up 17pc from a year ago when it totalled $312.33m, China’s Economic Net (CEN) has …

KARACHI: The country’s current account deficit surpassed $9 billion in the first half of the ongoing fiscal year, accounting for 5.7 per cent of the gross domestic product, the State Bank of Pakistan (SBP) data showed on Saturday. The current account deficit — which measures the flow of goods, services and investments into and out of the country — is …

ISLAMABAD: The Pakistan Tehreek-i-Insaf-led coalition government and opposition are expected to lock horns next week over the State Bank of Pakistan (Amendment) Bill 2021 in Senate, where the latter is not only in majority but also heading the Finance Committee. The government will make an all-out attempt to pass the bill to meet the conditions of the International Monetary Fund …

ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain said on Saturday the government would soon launch property projects for overseas Pakistanis to provide them investment opportunities with peace of mind. Overseas Pakistanis stand behind Pakistan to make it economically strong, he said in an interview with Gulf News. “We are bringing completely a new concept of overseas Pakistanis’ investment in the country …

KARACHI: The cost of fuel for electricity generation in December 2021 surged 72.4 per cent year-on-year to Rs8.24 per unit, according to data released by the National Electric Power Regulatory Authority. The increase in the fuel cost, which is one of the three components of the final rate that power producers charge their government-backed buyer, was 30.4pc on a month-on-month …

ISLAMABAD: Approved by the National Assembly recently, large scale amendments in the SECP Act 1997 have curtailed the powers of the Securities and Exchange Commission of Pakistan (SECP) Policy Board not only to finish the overlapping functions of the board and the commission but also to maintain a balance between the two. The amended law has omitted the suo motu …

KARACHI: Indus Motor Company (IMC) and Honda Atlas Cars Ltd (HACL) have jacked up prices by Rs63,000-493,000 following an increase in Federal Excise Duty (FED) after the passage of Finance (Supplementary) Bill 2021 commonly known as mini-budget. According to the price announcement, the price of various Toyota Yaris models has surged by Rs63,000-76,000. The new rate of Yaris 1.3GLI MT, …

ISLAMABAD: Large-scale manufacturing (LSM) posted paltry growth of 0.30 per cent in November on a year-on-year basis, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. The LSM recorded negative growth of 1.19pc in October. The slight improvement shows a revival in large industries. The PBS has rebased the index for the manufacturing sector to 2016-17, but …