Business News

Title Description Publish Date Image
Nokia claims to return to profit despite drop in sales due to virus pandemic <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-31/l_694856_010437_updates.jpg"/>Net profit came in at 94 million euros ($112 million) compared to a loss of 193 million euros during April-June last year Fri, 31 Jul 2020 17:39:38 +0500 Alternate Text
Gold prices in Pakistan shoot up to Rs122,750 per tola <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-29/l_693854_065914_updates.jpg"/>Latest gold rates: Gold prices in international markets shot up $25 an ounce to almost $1,955 Wed, 29 Jul 2020 18:59:00 +0500 Alternate Text
Gold reaches another record peak; equities struggle with mounting COVID-19 fears <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-29/l_693340_125251_updates.jpg"/>Gold chalked up another record peak on Tuesday before pulling lower as the dollar clawed back earlier losses, while equity markets struggled with mounting coronavirus fears, dealers said. Wed, 29 Jul 2020 00:41:00 +0500 Alternate Text
Gold forges record high as investors rush into safe-haven commodity <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-27/l_692843_082259_updates.jpg"/>The safe haven commodity looking mighty attractive after another troubling weekend of COVID-19 and US-China headlines," says an analyst Mon, 27 Jul 2020 19:38:09 +0500 Alternate Text
Gold reaches historical high in Pakistan, clocks in at Rs123,800 a tola <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-27/l_692841_072312_updates.jpg"/>In the international markets, gold rates shot up $46 to $1,942, registering the highest price since Sept 2011 Mon, 27 Jul 2020 19:18:26 +0500 Alternate Text
Gold rally continues in Pakistan <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-24/l_691442_090238_updates.jpg"/>Gold rate for 10 grammes rose Rs1,200 to Rs101,766, according to All Sindh Sarafa and Jewellers Association Fri, 24 Jul 2020 20:59:29 +0500 Alternate Text
How the world is responding to the coronavirus pandemic with gold <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-24/l_691432_063305_updates.jpg"/>Globally, the gold rates continue rising, heading for a $1,900 mark Fri, 24 Jul 2020 20:33:00 +0500 Alternate Text
Gold skyrockets to Rs117,300 a tola in Pakistan, touching new all-time high <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-23/l_690915_072806_updates.jpg"/>Latest gold rates in Pakistan: The jewelers' association says gold rate for 10 grammes shot up Rs1,972 to Rs100,566 in Pakistan Thu, 23 Jul 2020 20:23:00 +0500 Alternate Text
US signs $2 billion vaccine deal with Pfizer and BioNTech <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-22/l_690450_120220_updates.jpg"/>This was accomplished with relatively low doses and caused side effects that were mild to moderate but transient, which is considered normal Wed, 22 Jul 2020 21:31:02 +0500 Alternate Text
Dubai's largest bank sees profit plunge over coronavirus impact <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-21/l_689485_121826_updates.jpg"/>Emirates NBD saw second-quarter net profit this year dive 58% to $545 million from $1.3 billion a year ago Tue, 21 Jul 2020 00:06:00 +0500 Alternate Text
IMF MD says global economy 'not out of the woods yet' <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-16/l_687587_115242_updates.jpg"/>Kristalina Georgieva says crisis has entered a new phase as many countries have moved to reopen the economy Thu, 16 Jul 2020 11:29:02 +0500 Alternate Text
Google to invest $4.5 billion in digital unit of India's Reliance <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-15/l_687117_083133_updates.jpg"/>The two firms will also develop "an Android-based smartphone operating system", says Ambani Wed, 15 Jul 2020 19:23:13 +0500 Alternate Text
Apple wins EU court battle in 13-bn-euro tax case <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-15/l_687116_080744_updates.jpg"/>The EU in 2016 accused Ireland of allowing Apple to park revenue earned in Europe, Africa, the Middle East and India and sparing it almost any taxation Wed, 15 Jul 2020 18:23:23 +0500 Alternate Text
Post-COVID-19 Singapore hits recession as economy shrinks 41% <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-14/l_686589_070003_updates.jpg"/>Singapore's economy shrank 12.6 percent between April and June, according to the data from the trade ministry, as strict curbs were imposed to fight the virus Tue, 14 Jul 2020 06:55:24 +0500 Alternate Text
Overseas Pakistanis sent record remittances in FY20 at $23.12bn: SBP <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-13/l_686173_051203_updates.jpg"/>Remittances during June 2020 were 50% higher than the comparable period in 2019 Mon, 13 Jul 2020 17:02:00 +0500 Alternate Text
Rs30bn subsidy allocated to Naya Pakistan housing scheme, announces PM Imran <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-10/l_684814_065834_updates.jpg"/>PM Imran says construction sector faced a lot of obstacles but NCC had worked on policies for its revival Fri, 10 Jul 2020 18:54:45 +0500 Alternate Text
IMF warns cutting spending too soon could derail recovery amid virus pandemic <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-10/l_684786_061109_updates.jpg"/>Government spending "will need to remain supportive and flexible until a safe and durable exit from the crisis is secured," says IMF Fri, 10 Jul 2020 17:35:17 +0500 Alternate Text
Gold rates shoot to all-time high in Pakistan <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-09/l_684320_073925_updates.jpg"/>Latest gold price in Pakistan Thu, 09 Jul 2020 19:34:46 +0500 Alternate Text
New bank timings from July 13: Banks to remain open from 9am to 5:30pm <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-09/l_684316_043422_updates.jpg"/>The State Bank of Pakistan had earlier shorten the banking hours due to coronavirus pandemic Thu, 09 Jul 2020 16:25:05 +0500 Alternate Text
Export gloom sours Pakistan's prized mango season <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-08/l_683848_111739_updates.jpg"/>Across Pakistan´s "mango belt" in Punjab and Sindh provinces, farmers say a long winter and changing rain patterns have slashed production by up to half this year Wed, 08 Jul 2020 17:20:23 +0500 Alternate Text
Dubai reopens doors to foreign visitors after four-month COVID-19 shutdown <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-07/l_683429_111335_updates.jpg"/>But businesses are mainly betting on those already living in the gleaming desert city to energise its ailing economy and serve as a test run before wary foreign holidaymakers return Tue, 07 Jul 2020 22:02:16 +0500 Alternate Text
UK to unveil mini-budget to kickstart economy after coronavirus wreaks devastation <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-07/l_683421_093734_updates.jpg"/>Chancellor of the Exchequer Sunak hopes the plan will help to support more than 100,000 green jobs, including across the construction sector Tue, 07 Jul 2020 19:52:40 +0500 Alternate Text
German fashion giant Hugo Boss places sports clothes order at Pakistani firm <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-07/l_683419_064639_updates.jpg"/>Dawood says 'achievement was due to the effort of PRGMEA for holding the 35th IAF Fashion Convention in Nov last year' Tue, 07 Jul 2020 18:35:38 +0500 Alternate Text
FBR gets new chairman, fourth during PTI govt <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-04/l_682020_065156_updates.jpg"/>Muhammad Javed Ghani, a grade-22 officer, has been appointed as Chairman FBR for a period of three months or till the posting of a regular incumbent. Sat, 04 Jul 2020 18:50:18 +0500 Alternate Text
KCCI demands Sindh take back decision on extension in coronavirus curbs <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-02/l_680999_075940_updates.jpg"/>"Businesses should be allowed to operate at full capacity," demands trade body Thu, 02 Jul 2020 19:51:04 +0500 Alternate Text
Virgin Atlantic close to securing rescue deal as COVID-19 slashes air travel demand <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-01/l_680543_091633_updates.jpg"/>The news comes two months after Virgin Atlantic announced plans to axe more than 3,000 jobs, or one third of its staff Wed, 01 Jul 2020 18:46:31 +0500 Alternate Text
FBR collected Rs50bn more than revised tax target for FY2019-20 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-07-01/l_680077_123730_updates.jpg"/>FBR spokesperson notes that for the first time in its history, the organisation achieved a gross revenue of Rs40 trillion Wed, 01 Jul 2020 00:32:24 +0500 Alternate Text
PSX performance: Rs1.8tr turnover recorded in FY19-20 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-30/l_680063_073419_updates.jpg"/>Benchmark KSE-100 Index gained 520 points to close the year at 34,421 points and remained in the band of 16,421 points Tue, 30 Jun 2020 19:27:44 +0500 Alternate Text
Finance Bill 2020-21 approved by President Alvi <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-30/l_680058_062424_updates.jpg"/>President Arif Alvi gave his approval to the Finance Bill 2020-21 after it was passed by the National Assembly Tue, 30 Jun 2020 18:15:31 +0500 Alternate Text
Pakistan receives $1.3 billion loan from Chinese banks <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-30/l_680029_120115_updates.jpg"/>The official inflows of the country since June 23 now stand at around $3 billion Tue, 30 Jun 2020 11:52:00 +0500 Alternate Text
Gold rates surge Rs1,600 a tola in Pakistan <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-29/l_679559_073641_updates.jpg"/>All Sindh Saraf Jewellers Association notes that after price hike, one tola of gold now costs Rs1,600 more Mon, 29 Jun 2020 19:30:53 +0500 Alternate Text
Balochistan Assembly passes Rs 451bn budget for fiscal year 2020-21 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-28/l_678720_123159_updates.jpg"/>Approval for 60 non-development and 33 development projects accorded worth Rs295 billion and Rs156 billion respectively Sun, 28 Jun 2020 00:26:30 +0500 Alternate Text
Petrol prices increased by Rs 25.58 after PM Imran's approval <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-26/l_678187_103515_updates.jpg"/>Latest prices of petrol, HSD, kerosene oil, and light diesel would be Rs100.10, Rs101.46, Rs59, and Rs55.98, respectively Fri, 26 Jun 2020 22:30:06 +0500 Alternate Text
'Fair & Lovely' to be rebranded <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-26/l_677722_115829_updates.jpg"/>To make the brand more inclusive, the company would stop using the word ‘fair’ Fri, 26 Jun 2020 06:00:00 +0500 Alternate Text
State Bank of Pakistan cuts main policy rate by 100 bps to 7% <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-25/l_677614_041716_updates.jpg"/>Decision was taken after SBP's Monetary Policy Committee met today and agreed to reduce the policy rate by 100 basis points Thu, 25 Jun 2020 16:08:00 +0500 Alternate Text
Global trade set to shrink 18.5% in second quarter: WTO <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-23/l_676715_083023_updates.jpg"/>"The fall in trade we are now seeing is historically large — in fact, it would be the steepest on record," says WTO director-general Roberto Azevedo Tue, 23 Jun 2020 19:20:30 +0500 Alternate Text
Balochistan rolls out RS465.5 billion for 2020-21 budget <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-20/l_675337_103053_updates.jpg"/>Balochistan has allocated more than Rs63.5 billion for the education sector and Rs38 billion for health Sat, 20 Jun 2020 19:57:44 +0500 Alternate Text
KP govt presents Rs923 billion budget for fiscal year 2020-21 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-19/l_674857_063103_updates.jpg"/>The provincial govt allocates Rs124 billion for health sector and Rs317.8 billion for development expenditure Fri, 19 Jun 2020 18:26:06 +0500 Alternate Text
Saudi Aramco completes acquisition of 70% stake in SABIC <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-17/l_673988_093459_updates.jpg"/>'The completion of the transaction enhances Aramco's presence in the global petrochemicals industry,' says Aramco Wed, 17 Jun 2020 20:05:41 +0500 Alternate Text
EU takes aim at Apple in landmark antitrust cases <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-16/l_673550_123338_updates.jpg"/>The cases put Apple back into the crosshairs four years after Brussels ordered it to repay 13 billion euros in back taxes on antitrust concerns Tue, 16 Jun 2020 21:15:56 +0500 Alternate Text
'Progressive' budget of Rs2.24 trillion for FY2020-21 presented by Punjab govt <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-15/l_673097_091711_updates.jpg"/>Punjab would receive Rs1.433 trillion under the NFC Award, provincial finance minister Hashim Jawan Bakht said Mon, 15 Jun 2020 21:12:46 +0500 Alternate Text
Hafeez Shaikh takes a jibe at Miftah Ismail over 'political nitpicking', theoretical suggestions <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-14/l_672671_102554_updates.jpg"/>Shaikh said he 'can't do much' about Rs2.7-trillion debt repayments and that coronavirus intervened in economic progress Sun, 14 Jun 2020 22:01:54 +0500 Alternate Text
PSMA refuses to supply sugar to utility stores at govt recommended rate <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-14/l_672650_061654_updates.jpg"/>In letter to production ministry, PSMA has agreed to supply sugar at Rs70 per kg under interim court order vs Rs63 Sun, 14 Jun 2020 18:12:45 +0500 Alternate Text
PTI government's strategy for Budget 2020-21 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-13/l_671695_122057_updates.jpg"/>What are the focus areas for the next fiscal year Sat, 13 Jun 2020 00:12:00 +0500 Alternate Text
PTI's budget 2020-21 receives mixed reactions on social media <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-12/l_671691_115442_updates.jpg"/>Dubbed as a 'coronavirus budget', the financial plan for the coming year was welcomed by few Fri, 12 Jun 2020 23:30:08 +0500 Alternate Text
Financial analysts, businessmen disappointed with 'directionless' 2020-21 budget <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-12/l_671688_112936_updates.jpg"/>Financial analyst Khurram Shehzad says that the budget did not entail anything extra-ordinary Fri, 12 Jun 2020 23:20:05 +0500 Alternate Text
Budget 2020-21: The impact of COVID-19 on Pakistan and the govt plan to overcome it <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-12/l_671687_111953_updates.jpg"/>Nearly all industries and businesses were impacted. A loss of nearly Rs3.3 trillion to the gross domestic product was experienced Fri, 12 Jun 2020 23:17:24 +0500 Alternate Text
How will the new budget impact you? <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-12/l_671683_104647_updates.jpg"/>The government has also provided some relief while also imposing a few new penalties Fri, 12 Jun 2020 22:43:58 +0500 Alternate Text
Budget 2020-21: Here's a glimpse at the PSDP <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-12/l_671644_054236_updates.jpg"/> Total outlay of the PSDP for the fiscal year 2020-21 is Rs1.324 trillion Fri, 12 Jun 2020 17:16:48 +0500 Alternate Text
Cathay Pacific unveils US$5 billion bailout plan as it fights crippling downturn due to COVID-19 <img src="https://www.thenews.com.pk/assets/uploads/updates/2020-06-09/l_670253_114727_updates.jpg"/>The airline was already under pressure after taking a hit from months of sometimes violent protests in Hong Kong last year that saw tourism battered Tue, 09 Jun 2020 22:35:54 +0500 Alternate Text