Commerce

IT, ITES exports expected to exceed USD 5 billion by 2020

ISLAMABAD (APP)- It is expected to make Pakistan an outsourcing destination in the region by 2020, and increase IT & ITES exports to exceed US$ 5 billion due to launching of strategic initiatives along with tax holiday and capital repatriation incentives for private sector. There is a tremendous opportunity for Pakistan as its ICT sector

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Pakistan’s debt may be soaring, but it has its benefits

LAHORE(Sarzameen News) – There is news in the print media that the external debt of Pakistan was hovering around $92 billion till March 2018. The current government is blamed for an astounding increase in the external debt and liabilities over the past four and a half years. There is half-truth in this statement since it ignores

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German companies worry Trump moving toward ‘America Alone’

BERLIN(Sarzameen News) – German companies are concerned that US President Donald Trump is increasingly thinking only of America rather than just putting his country first, the head of Germany’s DIHK Chambers of Commerce told media. The United States has pulled out of the 2015 Iran nuclear deal and Germany has acknowledged it could be hard

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Foreign currency reserves remain persistently on downhill course

KARACHI(Sarzameen News) – Pakistan’s goods-import capacity has dropped to an alarming level of less than two and a half months after its foreign currency reserves fell to a four-year low of $10.79 billion on May 11 this year. “Pakistan’s foreign exchange reserves are insufficient for two and a half months of imports,” JS Global Chief Commercial

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China agrees to import more from US, no sign of $200bn number

WASHINGTON (Sarzameen News) – China has agreed to take measures to boost imports from the United States to reduce America’s trade deficit, the two countries said on Saturday, although without mentioning the $200-billion target the White House had touted earlier. Beijing and Washington agreed they would keep on talking about measures under which China would

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Pakistan stocks plunge 4.5 percent this week

KARACHI (Sarzameen News) – Pakistan equities lost 4.5 percent in a single week and closed at 41,624 index level, that is highest weekly loss of 2018 amidst depleting foreign reserves and rising political noise ahead of general election 2018. Topline Securities in its weekly review said that traded value during the week went down by

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LSMI grows by 5.89pc in 9 months

ISLAMABAD (APP) – Large Scale Manufacturing Industries (LSMI) of the country witnessed an impressive growth of 5.89 percent during the first nine months of the current fiscal year as compared to the corresponding period of last year. The country’s LSMI Quantum Index Numbers (QIM) was recorded at 149.26 points during July-March (2017-18) against 140.97 points

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Weekly inflation up by 0.93 percent

ISLAMABAD (APP) – The weekly inflation for the week ended on May 17 for the combined income group witnessed increase of 0.93 percent as compared to the previous week. The Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 226.56 points against 224.47 points registered in the

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NA passes Finance Bill for next fiscal year

ISLAMABAD (Web Desk) – National Assembly (NA) on Friday has passed the Finance Bill 2018 giving legal cover to the budgetary proposals for the next financial year. A number of proposals given by members during debate on the budget and recommendations of the Senate have been incorporated either fully or partially but the basic structure

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Pakistan’s reserves stand at US$17.067bn

KARACHI (Sarzameen News) – Total liquid foreign reserves of the country stand at US$17.067 billion after dropping by US$219 million, said the State Bank of Pakistan (SBP). In a statement issued by the SBP on Thursday, the foreign reserves held by the State Bank on May 11, amounted $10,798.9 million and the net foreign reserves

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