Business

KARACHI: Overseas investors’ confidence has seen a sharp decline in July-Dec 2018 due to change in economic landscape with pressures on the balance of payments front, depreciating rupee, rising interest rates and subsequent inflationary pressures dampening investor sentiment. The findings of the business confidence survey (BCS), conducted by the Overseas Investors Chambers of Commerce and Industry. (OICCI), revealed that the …

ISLAMABAD: A Mala­ysia-based company has pledged to make $250 million investment in the telecommunication sector in Pakistan during next five years. Malaysia’s Edotco Group chairman of the board of directors, Datuk Azzat Kamaluddin, made this commitment during a meeting with Prime Minister Imran Khan along with a delegation at Prime Minister Office (PMO) on Friday. According to the media cell …

ISLAMABAD: Influenced by faster rupee depreciation and demand pressure, inflation resurged to 7.2 per cent year-on-year in January, undermining earlier gains, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. The country’s inflation has now crossed the four-year high of 6.78pc recorded in October last year — the period when global oil prices started declining. Inflation …

The government has decided to reduce the prices of petroleum products barring HSD, for the month of February 2019. While price of HSD is being maintained at the current level, price of petrol has been reduced by Rs 0.59, kerosene by Rs 0.73 and that of LDO by Rs 0.25 per litre. The new prices shall be applicable from 1st …

SAN FRANCISCO: Amazon on Thursday reported its profit in the past quarter surged on strong holiday retail sales and its soaring cloud computing business. The US tech giant said profit jumped 63 percent from a year ago to $3.0 billion in the fourth quarter as revenues increased 20 percent to $72.4 billion. The results reflected growth in Amazon´s ever-expanding online …

Karachi: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Friday, February 01, 2019.

Instead of indulging in  rhetoric,   a historian chose to call a spade  a spade at the World Economic Forum in Davos. Rutger Bregman, s a Dutch historian and author, during a panel discussion found it ironic  that people talked about  justice, equality and transparency while overlooking the  issue of tax avoidance. He took billionaires to tasks for  not addressing the real …

Karachi: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Wednesday, January 30, 2019.

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has recommended cut in petrol and diesel prices for the month of February. Sources said the regulatory body has sent the summary to decrease petrol and diesel prices to the ministry of petroleum. The Petroleum Minister has received the OGRA summary. The final decision will be made by Ministry of Finance after the …

ISLAMABAD: The UK Department for International Development (DFID) has asked the government to take ‘tough decisions’ to reform various sectors of the economy. The DFID is working with the World Bank and Asian Development Bank to support Pakistan’s economic reform programmes. Talking to a group of journalists on Tuesday, DFID Chief Economist Rachel Glennerster said there exists a good understanding …