Category: bussines

In order to add clarity to the reports circulating in the media, the Ministry of Finance and Revenue on Sunday said that the International Monetary Fund’s (IMF) mission is visiting Pakistan to conduct a governance and corruption diagnostic assessment (GCDA). In a statement, a spokesperson for the finance ministry said that the IMF has long been providing advice and technical assistance that has helped to foster good governance, such as promoting public sector transparency and accountability. Traditionally, the IMF’s main focus has been on encouraging countries to correct macroeconomic imbalances,…

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WASHINGTON: A US judge issued an emergency order early Saturday blocking Elon Musk’s government reform team from accessing personal and financial data for millions of Americans stored at the Treasury Department, court documents showed. US District Judge Paul A Engelmayer’s order restricts giving access to Treasury Department payment systems and other data to “all political appointees, special government employees, and government employees detailed from an agency outside the Treasury Department.” The temporary restrictive order, which remains in effect until a February 14 hearing, also says any such person who has…

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The Pakistan Bureau of Statistics (PBS) data has showed that the country witnessed a sharp increase in medical expenses in January, making the access of healthcare facilities more difficult for inflation-hit consumers. The latest data released by the PBS earlier this month showed that fees for medical tests spiked 5.36% in January as compared to December, compounding an already steep 15.16% year-on-year increase. General practitioners as well as specialist clinics have also become 4.28% more costlier in January, while dental services saw a 2.22% monthly rise — a whopping 26.16%…

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Pakistan has made significant progress in restoring economic stability and strengthening external reserves, Fitch Ratings said in a note on Thursday. The agency emphasised that advancing structural reforms would be crucial for upcoming International Monetary Fund (IMF) programme reviews and securing continued financial support from multilateral and bilateral lenders. The State Bank of Pakistan’s (SBP) decision to cut the policy rate to 12% on January 27 underscored recent progress in taming inflation, Fitch noted. Consumer price inflation fell to just over 2% year-on-year in January 2025, down from an average…

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For the first time in the country’s history, a newly established slaughterhouse in Gwadar has started production to meet the surge in demand for donkey meat, bones, and hides in China for manufacturing the traditional product, e-jiao, confirmed Ministry of National Food Security and Research (MNFSR) on Thursday. The National Assembly Standing Committee on Food Security, chaired by Committee Chairman Rana Muhammad Hayat, convened, during which officials disclosed that China has inked an accord with Pakistan for the procurement of donkey hides and bones. A Chinese company has begun operations…

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The capital market faced sustained selling pressure on Wednesday as investor sentiment remained jittery ahead of the looming International Monetary Fund (IMF) review and mounting concerns over widening revenue shortfalls. Amid persistent foreign outflows and global economic uncertainties, the market struggled to find stability, with policy shifts in the real estate sector further compounding investor anxiety. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index plunged 1,634.22 points (-1.46%), closing at 110,301.16, down from the previous session’s 111,935.38. The index hit an intraday high of 112,234.15 before plummeting to a session…

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WASHINGTON: US President Donald Trump Tuesday said that he is not in a hurry to speak with Chinese President Xi Jinping amid the trade war between the two largest economies that was triggered by his US president’s decision to impose a 10% tariff on all Chinese imports. China imposed targeted tariffs on US imports on Tuesday and put several companies, including Google, on notice for possible sanctions, in a measured response to Trump’s tariffs. “That’s fine,” Trump said at the White House when asked about China’s retaliatory duties. A conversation…

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The equity market’s downward spiral deepened on Tuesday as a flare-up in global trade tensions, plummeting oil prices, and massive foreign capital outflows hit investor morale, triggering a hedge-betting selloff that persisted throughout the session. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index saw a decline of 809.63 points (-0.72%), closing at 111,935.38, after hitting an intraday high of 113,649.07 and a low of 111,828.10 points. Market analysts attributed the bearish trend to uncertainty over global trade policies and pressure on international equity markets. Ahsan Mehanti, Managing Director and CEO…

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BEIJING: China has multiple options that it can choose as a response to United States President Donald Trump’s decision to impose additional 10% tariffs on Beijing-origin goods entering the country. China, as per analysts, has plenty of options if it wants to reply to fresh US levies including retaliatory tariffs on US goods like car parts and soybeans to controls on raw minerals essential for American manufacturing. President Trump, over the weekend, announced additional tariffs on Chinese products, upping the stakes in a trade confrontation between the global superpowers that started…

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US President Donald Trump Monday decided to delay imposing high tariffs on Mexico and Canada as he agreed to a 30-day pause after both countries pledged to step up efforts on border security and crime control. US tariffs on China are still due to take effect within hours. Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in response to Trump’s demand to crack down on immigration and drug smuggling. That would pause 25% tariffs due to take effect…

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