Browsing Category
Business
China becomes key point in Starbucks’ global roasting network
The Starbucks China Coffee Innovation Industrial Park was officially opened in Kunshan, Jiangsu Province on Tuesday. With a total investment of 1.5 billion yuan, around 220 million US dollars, the industrial park will be the largest…
Revenue shortfall due to petroleum products smuggling angers IMF
ISLAMABAD – With the smuggling of petroleum products in Pakistan reaching 0.15 million tonnes a month, the International Monetary Fund (IMF) has expressed its concerns, sources say, asking the top government authorities to inform about the…
Geneva flood pledges: Pakistan receives only $1.48bn of $10.9bn
ISLAMABAD: Pakistan has, to date, received only $1.48 billion in funding from both multilateral and bilateral creditors as part of the Geneva pledges totaling $10.9 billion designated for the reconstruction of areas affected by devastating…
Raids on houses planned to recover stashed dollars as rupee makes more gains
ISLAMABAD – As reversing the rupee depreciation on a sustainable basis has become the biggest challenge for Pakistan, authorities are ready to carry out raids the houses of those involved in hoarding the US dollar.
Security…
Cash-starved Pakistan gets ready for bumper cotton crop
LAHORE – Cotton arrivals are witnessing a massive surge in Pakistan with the total reaching 3.933 million bales by September 15, 2023 compared to the same period last year when the figures stood at 2.187m bales – showing a 79.87 per cent…
Erdogan asks Musk to build Tesla factory in Turkiye
ISTANBUL – Turkish President Tayyip Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country's communications directorate said on Monday.
It cited Musk as saying that many Turkish suppliers are already working…
PIA’s several flights cancelled, delayed amid liquidity crisis
KARACHI: Pakistan International Airlines (PIA), which is facing serious cash flow problems, cancelled several domestic and international flights.
A top official of the national flag carrier earlier told Geo News that that flight operations…
Suzuki Pakistan extends ongoing Wagon-R, Swift exchange bonus campaign
LAHORE - Suzuki Pakistan has taken the step to extend the ongoing Wagon-R & Swift Exchange Bonus Campaign during the current economic challenges in Pakistan, which are impacting various industries, including the automobile sector.…
State bank keeps interest rate unchanged at 22%
The State Bank of Pakistan (SBP) on Monday announced maintaining the key policy rate at 22%.
According to a statement issued by the central bank, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 22%. This…
Pakistan military helps stifle currency black market to stabilise rupee
KARACHI/PESHAWAR – When the military was called on to help defend Pakistan's ailing currency, licensed foreign exchange traders cheered while their black market rivals in the bazaars of Peshawar, Karachi and other cities shuttered their…
