2 °C Prince George's County, US
November 17, 2018

Business News

Pakistan Can Lead in Making South Asia Export Powerhouse: World Bank

Pakistan and its neighbors can turn South Asia into an Export Powerhouse only if they improve the business environment, connect to global value chains, leveraging clusters, and strengthening firm capabilities, a World Bank report says. The report titled “South Asia’s Turn: Policies to Boost Competitiveness and Create the Next Export Powerhouse” speaks about the need […]

Korean Carmaker Kia to Assemble Cars in Pakistan

In yet another major boost to its efforts to attract foreign investment, Korean carmaker Kia will start assembling cars in Pakistan in a joint venture with a local partner, a new addition to the car industry which has long been dominated by Japanese companies. Karachi-listed company Lucky Cement will invest $115 million to set up […]

Pakistani Expatriates Send 6.2 billion in Remittances During July-Oct

Pakistanis expatriates sent $6.2 billion back home in remittances during the first four months of the 2016-17 fiscal year, according to the State Bank of Pakistan,  posting a slight decline when compared  with the same period last year. During July-October, 2015, overseas Pakistani workers remitted $6.5 billion. During October 2016, the inflow of worker’s remittances […]

Pakistan’s Gwadar Activated For International Trade As Chinese Ships Sail

Chinese ships loaded with cargoes sailed to overseas destination from Gwadar this week,  as Pakistan activated the much-awaited deep sea port for international trade route that is seen as a rival to Iran’s port of Chabahar. Pakistan’s Prime Minister Nawaz Sharif and Chinese officials gathered on the port to receive the first trade convoy from […]

World Bank Raises Oil Prices Forecast to $43 per Barrel on Strong Demand

Robust demand and supply outages pushed the World Bank to raise its 2016 forecast for crude oil prices to $43 per barrel from $41 barrel, but overall energy prices are expected to fall in the year. Disruption to supply, particularly caused by wildfire in Canada and sabotage of oil infrastructure in another major oil producer, […]

World Bank’s Investment Arm Keen to Raise Portfolio in Pakistan

Multilateral Investment Guarantee Agency (MIGA), an investment arm of the World Bank, has expressed interest in engaging the private sector in Pakistan and explore opportunities to facilitate foreign direct investment in the country. MIGA’s Chief Executive Keiko Honda met Finance Minister Ishaq Dar in Islamabad and discussed areas where the agency can introduce its products. […]