Business

ISLAMABAD: While Pakistan is fighting its case in the European Union against the Indian move to get Basmati rice registered as its product, the commodity is still not registered as a local product in the country. Laws require that before applying for registration of any product at the international market it has to be protected under the geographical indication (GI) …

Covid-19 has disrupted international trade and investment flows all over the world. According to the United Nations Conference on Trade and Development (UNCTAD), global FDI flows were down by 49 per cent in the first half of 2020. Greenfield investments have been hit especially hard, falling by 37pc in the first nine months of the year. Despite this bleak picture …

When the coronavirus outbreak spread earlier this year, it brought the movement of people to a standstill. Flights were stopped, borders sealed and roads barricaded to make sure the virus didn’t spread any further. In a matter of weeks, airline stocks were down by more than half. In Pakistan, too, the effect was disproportionately felt by ride-hailing companies, which saw …

LAHORE: Commerce Adviser Abdul Razak Dawood has announced that duty on the import of raw materials for industries is being reduced by six per cent from Jan 1, 2021. “The reduction of import duty on raw materials will benefit the industry. I am the representative of industrialists in Islamabad and will help resolve all their genuine problems,” Dawood said while …

KARACHI: The four-week rally at the stock market was snapped in the outgoing shortened four-session week as the KSE-100 index lost 324 points, or 0.74 per cent, to close at 43,417. The index tumbled by 834 points in the first two days of the week. The trading was led by the news flow on the Covid-19. The market lost 406 …

KARACHI: A day after Aviation Minister Ghulam Sarwar Khan expressed hopes that the ban imposed on Pakistan International Airlines (PIA) to operate flights in Europe would be lifted soon, the European Union Aviation Safety Agency (EASA) informed the national flag carrier that the ban had been extended by three months and that it would not be reviewed until a safety audit of …

ISLAMABAD: Pakistan’s non-textile exports shrank 1.85 per cent year-on-year to $3.7 billion in the first five months of this fiscal year due to delays of orders amid Covid-19-related closures in major export markets, latest data released by the Pakistan Bureau of Statistics (PBS) showed. The non-textile sector was yet to receive export orders in the post first wave of Covid-19. …

LONDON: China will overtake the United States to become the world’s biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the Covid-19 pandemic, a think tank said. “For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and …

KARACHI: Commerce Adviser Abdul Razak Dawood has said issues relating to the bottlenecks in export of fruit and vegetables will be taken up with the governments of Afghanistan, Indonesia and Iran. During a meeting held in Islamabad a delegation of Pakistan Fruits and Vegetable Exporters Association, led by Patron-in-Chief Waheed Ahmed, informed the adviser that Kabul had imposed duty on …

ISLAMABAD: Minister for IT & Telecommunication Syed Amin ul Haque on Friday said that the IT sector has to harness the potential arising out of the digital shift due to the pandemic and achieve $5 billion export target by the end of FY23. In a statement, Haq said the measures taken by the IT ministry was moving on the right …