Category Archives: Business

Nestlé MD Sees Pakistan In ‘Hot Zone’ Of High Economic Activity

Anticipating bright prospects for industry, local head of the global food giant has said that Pakistan seems poised to enter high economic activity ‘hot zone’, potentially moving to post double-digit growth. “With increasing per capita income, gradual improvement in economic growth, better law and order

Pakistan Predicted To Be World’s Fastest-Growing Muslim Economy In 2017

Pakistan has been forecasted to be the world’s fastest-growing Muslim economy in 2017 ahead of Indonesia, Malaysia, Turkey and Egypt, says “The Economist” magazine. Pakistan’s estimated GDP growth “5.3%” is also ahead of 4% GDP growth of Israel, making Pakistan world’s fifth fastest-growing economy in

China Develops Its Own Ballpoint Pen Tips

China, the world’s biggest manufacturer of ballpoint pens, has finally developed its own pen tips, ending a long-term reliance on imported ones. Taiyuan Iron & Steel (Group), or TISCO, said it has mastered the production of steel components for pen tips after trying for five

Alibaba To Buy China Mall Operator In $2.6 Bn Plan

Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a $2.6 billion privatisation scheme, the companies said Tuesday, sending shares of the mall operator surging. Alibaba and Intime founder Shen Guojun have together offered to pay HK$10 per share to buy

Capital Market Reforms Make Pakistan Attractive For FDI: Expert

Certain effective checks and systematic changes recently applied by Securities and Exchange Commission of Pakistan (SECP) bring transparency to Pakistan Stock Exchange (PSX) and brokers’ business. Thus, Pakistan becomes a big attraction especially for foreign investors. Economic indicators of the country were positive. China-Pakistan Economic Corridor (CPEC)

China Forex Reserves Fall By $320 bln In 2016

BEIJING, JChina’s foreign exchange reserves fell by $320 billion last year, Beijing announced Saturday, as authorities sought to support the yuan against a soaring dollar which is encouraging capital outflows. The country’s vast foreign exchange reserves, the largest in the world, slipped to $3.011 trillion

Forex Reserves Stand At US $23.163 bln

The total liquid foreign reserves held by the country stood at US $23,163.6 million as on December 30, the State Bank of Pakistan (SBP) reported. According to break up figure, the foreign reserves held by the State Bank of Pakistan stood at US $ 18,268.9 mln

China Remains Major Engine For World Economic Growth

BEIJING, Jan. 6 (Xinhua) — China has remained the world’s major growth engine in 2016, shoring up global economic growth through such channels as trade, market and investment. The latest report of the International Monetary Fund showed that China contributed 1.2 percentage points to global

China Sets Biggest One-Day Yuan Increase In Over Decade

China on Friday hiked the yuan against the dollar in its biggest one-day increase since 2005, after the greenback fell against leading currencies the previous day. The People’s Bank of China (PBoC), which has been battling to shore up the sagging yuan, fixed it at 6.8668 to

S.African Investors Keen To Invest At Gwadar

South African investors are keen to invest at Gwadar through China-Pakistan Economic Corridor (CPEC) and have demanded allotment of 100 acres of land to set up state of the art industries there. Chairman, Pakistan South Africa Business Forum Rafiq Dawood Memon, in a statement here on Wednesday, said