Category: bussines

US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners ahead of further promised trade levies next week. As Asian markets opened Thursday, shares in carmakers were down sharply. Japan’s government described the Washington move as “extremely regrettable,” while Prime Minister Shigeru Ishiba said Tokyo was “considering all kinds of countermeasures.” “What we’re going to be doing is a 25% tariff on all cars that are not made in the United States,” Trump said, as he signed the order in…

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The stock market surged sharply on Wednesday, driven by a major breakthrough as the International Monetary Fund (IMF) struck a staff-level agreement with Pakistan for a fresh $1.3 billion package and concluded the first review of the ongoing 37-month bailout programme. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index gained 1,139.15 points, or 0.98%, to settle at 117,772.31 by session’s end. The index touched an intraday high of 118,220.88 and a low of 117,178.23, reflecting a session driven by investor optimism following key economic developments. “The IMF review is the…

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The first-ever EU-Pakistan Business Forum is set to take place in Islamabad from May 14-15 to enhance economic cooperation, a joint announcement by the government and European Union said. The EU is the largest single market in the world and the largest destination for Pakistani exports. The EU is also the world’s largest foreign investor representing 42% of outward foreign direct investment globally. “With a rapidly growing market of over 240 million people, competitive labour costs, strategic geographical access to Central and South Asia and a preferential trade access to…

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WASHINGTON:  International Monetary Fund staff reached a deal with Pakistan for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout program, the IMF said on Tuesday. “Over the past 18 months, Pakistan has made significant progress in restoring macroeconomic stability and rebuilding confidence despite a challenging global environment,” the IMF said in a statement. The new 28-month deal would support Pakistan’s efforts to mitigate and adapt to climate change, the Fund said in the statement announcing its decision. Both the new programme…

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The first-ever EU-Pakistan Business Forum is set to take place in Islamabad from May 14-15 to enhance economic cooperation, a joint announcement by the government and European Union said. The EU is the largest single market in the world and the largest destination for Pakistani exports. The EU is also the world’s largest foreign investor representing 42% of outward foreign direct investment globally. “With a rapidly growing market of over 240 million people, competitive labour costs, strategic geographical access to Central and South Asia and a preferential trade access to…

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ISLAMABAD: Ease in inflationary pressures is likely to keep Pakistan’s Consumer Price Index (CPI)-based between 1-1.5% in March 2025. As per the statistics released by Finance Divisions in its “Economic Update and Outlook March 2025” report, the CPI inflation was recorded at 1.5% on YoY basis in February 2025 compared to 2.4% in the previous month and 23.1% in February 2024. On MoM basis, it decreased by 0.8% as compared to an increase of 0.2% in the previous month. However, the key indicator is likely to witness an increase and…

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The capital market took a sharp downturn and closed in the red on Monday, driven by mounting concerns in the cement sector, thin trading volumes ahead of Eid ul Fitr holidays, and intensified pressure from rollover week dynamics. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index dropped 2,002.55 points, or -1.69%, to close at 116,439.62. The day’s high was recorded at 118,797.70, while the low touched 116,257.51 — a fall of 2,184.66 points, or -1.84% from the previous session’s close of 118,442.17. According to market analysts, investor sentiment was dampened…

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The Pakistan Railways has announced a special Eid-ul-Fitr gift for passengers by offering a 20% discount on train fares. According to an official notification issued on Saturday, the discounted fares will be applicable on all mail, express and intercity trains for the first three days of the Eid. Passengers making advance bookings will also be eligible for the reduced fares. However, the discount will not apply to Eid Special Trains. The PR has directed all booking offices to strictly implement the fare reduction to ensure passengers benefit from the offer.…

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ISLAMABAD: The federal cabinet has approved a significant up to 188% hike in the salaries of the federal ministers, state ministers and advisers, sources confirmed on Friday. Sources told Geo News that the salaries of federal ministers, ministers of state, and advisers have been increased by up to 188%, with the federal cabinet approving the summary through circulation. Sources added that after the approval, the salary of a federal minister, minister of state, and adviser will be Rs519,000, whereas previously, federal ministers were paid Rs200,000, and ministers of state received Rs180,000.…

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The vacation of stay orders by the high courts in the cases related to windfall income of banks has helped the federal government to recover Rs34.5 billion in a period of four weeks, it emerged on Friday. This success was gained due to the vision of economic reforms of Prime Minister Shehbaz Sharif and improvement in the performance of the Federal Board of Revenue (FBR), the law ministry said in a statement issued today. The prime minister had taken notice of the stay order on cases related to tax on…

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