NEW YORK: Federal Minister for Finance Senator Mohammad Ishaq Dar met Chairman Exim Bank, Fred p. Hochberg here on Monday and briefed him on the positive outlook of Pakistan’s economy which he said has been on a consistent positive trajectory since the current government introduced vital economic reforms two years ago. He told Mr. Hochberg...
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September 29, 2015September 29, 2015Business
Army, Govt cooperation infusing confidence in businessmen ; General Raheel termed leader of exceptional qualities and courage: ACCI
ATTOCK: Founder president of Attock Chamber of Commerce (ACCI) Mirza Abdul Rehman has been elected as president of the Chamber in the annual elections. Ayaz Adil has been elected as Senior Vice President while Arshad Mughal has been elected as Vice President of the ACCI. Senator Haji Adeel, Senator Haji Ghulam Ali and others have...
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September 24, 2015September 24, 2015Business
WHT emerges as threat to banks: Mian Shahid
ISLAMABAD: Chairman of the United International Group Mian Shahid on Thursday said lack of financial inclusion is keeping masses poor. Relationship between masses and financial institutions is getting weak which is hurting banks as well as the economy, he said. In a statement issued here, he said that resilient Pakistani banking industry braved the global...
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September 24, 2015September 24, 2015Business
Foreign reserves likely to reach at highest level of $20b by Oct
ISLAMABAD: The government expects GDP growth of 5.5 percent in the current fiscal year hoping that it will help further strengthen the economy. Federal Finance Secretary Waqar Masood said in an interview that economic indicators are positive and it is expected that foreign exchange reserves will reach at their highest ever level of twenty billion...
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September 22, 2015September 22, 2015Business
Only reforms can lift stagnant exports: PEW
ISLAMABAD: The Pakistan Economy Watch (PEW) on Tuesday asked the government to focus on reforming export sector as too much emphasis on getting trade relaxations from other countries and blocks has proved counterproductive. Government avoided reforming external sector to get trade benefits which has taken toll on economy, it said. Reforms should be initiated by...
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September 22, 2015September 22, 2015Business
Dar leaves for New York to lead last road show for Eurobond launching
ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar later left Islamabad Tuesday for New York to attend the road shows being organized in connection with launching of Eurobond. The road shows commenced at London on 18th September with Secretary Finance, Dr. Waqar Masood and Governor State Bank, Ashraf Mahmood Wathra having meetings with leading investors,...
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September 22, 2015September 22, 2015Business
Only reforms can lift stagnant exports: PEW
ISLAMABAD: The Pakistan Economy Watch (PEW) on Tuesday asked the government to focus on reforming export sector as too much emphasis on getting trade relaxations from other countries and blocks has proved counterproductive. Government avoided reforming external sector to get trade benefits which has taken toll on economy, it said. Reforms should be initiated...
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$10m invested for edible packaging technology
A company has invested $10m to launch a food packaging technology that could finish the need of plastic containers. WikiCells Designs encloses food or drinks in similar ways to the natural skins that protect fruits such as grapes, apples, oranges or coconuts. It has a membrane made of charge particles (of edible substances) bound by...
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September 6, 2015September 6, 2015Business
EU cereal prices predicted to be high and unstables, says EU Commission
EU cereal prices are predicted to remain high and unstable and are wary of the destabilising effect of other commodities such as maize and wheat. Despite drought being in certain member states, the European Commission predicts the full year EU cereals forecast to be only 2% lower than the average over the past five years...
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September 6, 2015September 6, 2015Business
Coca-Cola to manufacture energy drinks in India
Giant beverage company Coca-Cola has received the thumbs-up to manufacture and sell energy drinks in India. The approval from the Indian authorities makes the multinational company the first corporation to receive permission. Launched in 2009, the company does sell its Malaysian-imported energy drink burn. A Coca-Cold spokesperson confirmed the go-ahead but refused to reveal any...