Business
All about Business, economy, international economy, Pakistan economy.
Pakistan Appoints ‘Ernst & Young’ for PIA’s privatization
In accordance with International Monetary Fund (IMF) conditions advocating the privatization of state-owned entities, Pakistan has chosen the British multinational firm ‘Ernst & Young’ as the Financial Advisor for the privatization of its national flag carrier, Pakistan International Airlines (PIA). The decision was made by the country’s privatization commission board on Friday, marking a significant […]
Indus Motor Company to Launch First Hybrid Electric Car in mid-December
Indus Motor Company (IMC), the renowned Toyota car assembler to introduce the Pakistan-made Corolla Hybrid Electric Vehicle by mid-December, Ali Jamali, the CEO revealed on Wednesday. Jamali said, “very soon” we will launch the Hybrid Electric Vehicle (HEV) while underscoring the significance of Toyota’s hefty $100 million investment in Pakistan’s HEV production. This investment not […]
Pakistan’s weekly inflation eases
Pakistan’s weekly inflation rate eased by a third of a percentage point over the previous week driven by a decline in some kitchen items’ prices, especially pulses, chicken, onions, rice, sugar, and wheat flour. During the week ending on October 26, chicken prices in one week dropped by 10.2 percent to Rs312/kg, while onions became […]
Citigroup Forecasts Crude Oil Price Drop to $70/Barrel in 2024
Citigroup Inc. has predicted that there shall be a drop in crude oil prices next year, with a likely reduction to US$70 a barrel. This is primarily because of lower demand and an anticipated “peak transport fuel demand” according to the U.S. Bank. Currently, at US$92, oil prices have risen steadily due to production cuts by […]
Chinese Coal Power Plants in Pakistan Use Lower-Quality Coal, Charge Higher Rates
Pakistan’s Power Regulatory Body Exposes This Use of Inferior Coal Under CPEC framework, Raising Concerns Over Capacity Payments. Chinese coal-fired power generators operating in Pakistan under the China-Pakistan Economic Corridor (CPEC) framework have been violating their signed agreements with Islamabad. They are using lower-quality imported coal, despite their pledge to import coal with a calorific […]
Trade Dialogue: China, US Set Up Channels to Ease Tensions
Trade Dialogue between US Treasury chief Janet Yellen and Chinese Vice-Premier He Lifeng led to the establishment of working groups. Sources say the two sides have resumed talks in several areas and are working on dialogue on arms control and AI China and the United States announced on Friday that they have set up joint […]
Adverts coming to Amazon Prime Video next year
Amazon is poised to introduce a new dimension to its Prime Video streaming service with the integration of Amazon Prime Video Ads by 2024. This strategic move is designed to fortify financial support for the creation of compelling original TV shows and films. In A statement, Amazon said Prime Video still offered “very compelling value”. […]
U.S. dollar scores first ‘golden cross’ since July 2021, signaling more trouble for stocks ahead
Heading into Friday’s settlement, the dollar scores golden cross as the 50-day average on the ICE U.S. Dollar Index a gauge of the buck’s value against a basket of its biggest rivals that’s heavily weighted toward the euro, stands at 103.15, higher than the 200-day moving average, which was 103.11. The index itself finished at […]
Indian Rupee strengthens as JPMorgan includes India’s government bonds in emerging market index
In a week marked by financial developments, the Indian rupee closed higher on Friday, settling at 82.93 against the U.S. dollar, a weekly gain of 0.3%. This performance comes on the heels of an announcement by multinational investment bank JPMorgan, revealing its plans to incorporate India’s government bonds into its emerging market index. This process […]