Category: bussines

China is considering exempting some US imports from its 125% tariffs and is asking businesses to provide lists of goods that could be eligible in the biggest sign yet that Beijing is worried about the economic fallout from its trade war with Washington. A Ministry of Commerce taskforce is collecting lists of items that could be exempted from tariffs and is asking companies to submit their own requests, according to a source who spoke on condition of anonymity. Financial news magazine Caijing reported on Friday citing sources that Beijing was…

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ISLAMABAD: The government has formally launched the privatisation process of Pakistan International Airlines (PIA), inviting expressions of interest (EOIs) from local and international investors for a majority stake in the national carrier. According to the Privatisation Commission, the plan involves selling between 51% and 100% of PIA’s shares, along with transferring management control to the successful bidder. Interested investors have until June 3 to submit their EOIs. To encourage participation, the government has also announced a range of incentives. These include exemption from the 18% general sales tax (GST) on…

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Geopolitical tensions rocked the stock market on Thursday as uncertainty over Pakistan’s response to India’s provocative actions shook investor sentiment, triggering a sharp selloff. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index fell to an intraday low of 114,661.20, down 2,564.94 points or 2.19% from the previous close of 117,226.14. Although some recovery was seen, the benchmark remained under pressure throughout the session. The day’s high of 116,568.13 still reflected a decline of 658.01 points, or 0.56%, highlighting the market’s nervousness. “Markets are uncertain over our response to India’s action…

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SEOUL: As a third Boeing aircraft began returning to the US, the US aircraft manufacturer on Thursday acknowledged that its Chinese customers are rejecting delivery of newly manufactured aircraft because of tariffs. During a first-quarter net income call on Wednesday, CEO Kelly Ortberg stated: “Many of our customers in China have indicated that they will not take delivery due to the tariffs.” Ortberg said China was the only country where Boeing was facing this issue and the planemaker would redirect new jet supply to other customers eager for earlier deliveries…

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WASHINGTON: The US has warned the International Monetary Fund and World Bank to drop what it sees as “sprawling and unfocused agendas”. Treasury Secretary Scott Bessent on Wednesday said the two institutions should stop chasing social issues and get back to their main jobs – providing support to stabilise economies and driving growth, stressing that the IMF and the World Bank “must be made fit for purpose again”. Speaking on the sidelines of the organisations’ spring meetings in Washington, Bessent said the IMF devotes “disproportionate time” to climate change, gender,…

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The market’s momentum faltered on Wednesday, breaking a four-day rally, after downbeat economic forecasts from the International Monetary Fund (IMF) and Fitch dampened investor confidence, prompting a selling spree. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index closed at 117,226.14, down 1,204.21 points or 1.02% from the previous close of 118,430.35. The index touched an intraday high of 118,811.24 and a low of 117,120.39. Trading volumes stood at 242.5 million shares, with the total value of traded shares recorded at Rs18.6 billion. Traders walked on eggshells throughout the session, alarmed…

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The door for trade talks with Washington is “wide open”, China said on Wednesday, a day after US President Donald Trump signalled the possibility of a “substantial” lowering of tariffs on Beijing. Bringing further relief to global markets spooked by his aggressive trade policies, Trump also said on Tuesday he had no intention of firing US Federal Reserve Chair Jerome Powell. Since returning to the White House in January, Trump has imposed additional tariffs of 145% on many products from China. These include duties initially imposed over China’s alleged role…

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Federal Minister for Finance Senator Muhammad Aurangzeb showcased Pakistan’s commitment to sustainable growth during a series of high-level meetings in Washington, DC, according to a press release issued by the finance ministry on Wednesday. Speaking at the annual spring meetings of the International Monetary Fund (IMF) and the World Bank, he highlighted key issues such as economic stability, necessary reforms, and investment opportunities. As the Second Vice Chair of the G-24 Finance Ministers and Central Bank Givernors, Aurangzeb underscored Pakistan’s macroeconomic resilience, attributed to robust banking systems and ongoing challenges like…

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ISLAMABAD: The International Monetary Fund (IMF) in its World Economic Outlook report has revised Pakistan’s economic growth projection for the current fiscal year from 3% to 2.6%. The downgraded forecast follows fresh US tariff hikes of up to 29% by US President Donald Trump, which have led the IMF to cut growth estimates for several developing economies. The report, however, noted that Pakistan’s GDP growth for the next fiscal year (2025–26) is projected to rise to 3.6%. Inflation in Pakistan — which stood at 23.4% in 2024 — is forecast at 5.1%…

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The International Monetary Fund on Tuesday downgraded its global growth forecast for 2025, citing the growing impact of President Donald Trump’s new tariff measures. The IMF now expects worldwide economic growth to reach just 2.8% this year, down 0.5 percentage points from its January estimate. The growth outlook for 2026 has also been revised downward, now projected at 3.0%. Speaking in Washington, IMF chief economist Pierre-Olivier Gourinchas warned that the global economy is undergoing a major transformation. “We are entering a new era,” he said. “If sustained, increasing trade tensions…

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