Business

AFTER a tumultuous 2023, most people remain “cautiously optimistic” about Pakistan’s economic outlook as we enter the new year, waiting with bated breath for a new government to take office. Last week, we had an interview with Muhammad Ali Tabba, Lucky Cement’s Chief Executive Officer (CEO) and one of the most dynamic businessmen this country has ever produced, to know …

AS 2023, what the farmers call a disastrous year, wears out, they do not have much hope for 2024 as well. They list expected problems they are expected to face next year, some of them existential in nature: rising cost of production, market cartelisation, profiteering, price crashes, scarcity of seeds, bad and deteriorating governance and agriculture falling out of ruling …

ISLAMABAD : In a first of its kind advisory to commercial outlets, the Com­petition Commission of Pakistan (CCP) has war­ned shoe and clothing brands offering discounts to ensure complete and visible disclosures regarding actual and discounted prices. “Brands violating this directive may face enforcement actions by the CCP,” the advisory issued on Saturday said. It added that during the ongoing …

KARACHI: Amid an annual increase of 43.25 per cent in weekly inflation ending Dec 28 and soaring utility bills, manufacturers of consumer goods items recorded brisk sales in the first nine months of 2023. Market people believe that the jump in sales was because of price increases but they must have suffered a slowdown in volume or quantity of goods …

KARACHI: The stock market witnessed a meltdown at the beginning of the outgoing week amid profit-taking by investors because of a substantial reduction in leveraged positions. Arif Habib Ltd said the bearish momentum proved short-lived as the market rebounded the following day by 1,693 points, marking the third-highest day-on-day increase in its history. Foreign exchange reserves of the State Bank …

KARACHI: The share of digital payments in retail transactions of banking system increased to 80 per cent in the July-September quarter versus 74pc a year ago, according to the Quarterly Payment Systems Report for the first quarter of 2023-24 released by the State Bank of Pakistan on Saturday. While share of over-the-counter (OTC) transactions was 20pc in retail transactions in …

KARACHI: Multina­tional companies operating in Pakistan are concerned about the low level of priority that the intellectual property rights (IPR) regime receives from government authorities and other key stakeholders. According to the IPR Survey 2023 conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI) among its 200-plus members, there’s growing concern about the functionality of the intellectual property …

LONDON: Misfiring Arsenal spurned the opportunity to reclaim first place in the Premier League as they lost 2-0 to spirited fellow Lon­d­o­ners West Ham United at the Emir­a­tes while Tottenham Hotspur went down in a six-goal thriller against Bri­ghton and Hove Albion on Thursday. West Ham only had three efforts on target but Tomas Soucek gave them a halftime lead …

KATHMANDU: Nepal’s cricket star Sandeep Lamichhane was on Friday convicted of rape after a repeatedly delayed trial that had left him free to continue his sporting career. Lamichhane, 23, was once the poster boy for the rise of cricket in Nepal and the leg-spinner’s on-field success had boosted the sport’s profile in the country. Last year, he was accused of …

BRISBANE: Rafael Nadal said it is still “impossible” for him to think about winning tournaments as he prepares for his much-awaited comeback at the Brisbane International after spending almost a year on the sidelines with a hip injury. The 22-times Grand Slam champion, who is gearing up for next month’s Australian Open, sustained the problem during his second round defeat …