Important Business News 10th October, 2019

Important Business News

10th October, 2019

 

S.# Description Pg # Source
1

Global Competitiveness Report 2019

Pakistan’s ranking drops

Pakistan’s ranking on the ‘Global Competitiveness Report 2019’ dropped to 110th during the tenure of Pakistan Tehreek-e-Insaf (PTI) government from 107th recorded during Pakistan Muslim League-Nawaz tenure.

https://epaper.brecorder.com/2019/10/10/1-page/804763-news.html

1 Business Recorder
2.

PM meets NPC chairman

CPEC’s phase-II to pave way for socio-economic uplift

 

Prime Minister Imran Khan on Wednesday stressed that completion of China Pakistan Economic Corridor (CPEC) was top priority of his government and hoped that its Phase-II would pave the way for further socio-economic development and livelihood opportunities for the people of Pakistan.

https://epaper.brecorder.com/2019/10/10/1-page/804768-news.html

1 Business Recorder
3.

Trade wars lose US its competitiveness top spot: WEF

The United States fell to second place behind Singapore in the World Economic Forum’s flagship Global Competitiveness Report, with the slippage linked in part to President Donald Trump’s trade wars.

https://epaper.brecorder.com/2019/10/10/1-page/804764-news.html

1 Business Recorder
4.

ADB to provide $2.5bn in approved financing

 

 The Asian Development Bank (ADB) will provide $2.5 billion in approved financing to Pakistan in 2019, while recently approved Country Operations Business Plan (COBP) 2020-22 will increase average lending to $2.4 billion a year – a record increase over the $1.4 billion average from 2015 to 2018.

https://epaper.brecorder.com/2019/10/10/1-page/804770-news.html

1 Business Recorder
5.

Major export sector hamstrung by duties: WB

Pakistan’s tariffs on imported intermediate goods average 8 percent – four times the average in the East Asia – and its regulatory and additional duties are also high, making it difficult for the country’s major export sector of textiles and apparel to import artificial fibers, says the World Bank (WB).

https://epaper.brecorder.com/2019/10/10/1-page/804772-news.html

 

1 Business Recorder
6.

Privatisation process

Hafeez for following timelines

Prime Minister’s Advisor on Finance and Revenue Dr. Abdul Hafeez Shaikh has directed the Ministry of Privatisation that timelines set for implementation of privatisation program should be followed in letter and spirit by using formal and informal communication channels, well-informed sources told Business Recorder.

https://epaper.brecorder.com/2019/10/10/1-page/804771-news.html

1 Business Recorder
7.

KSE-100 Index inches up

BRIndex100 little changed

Pakistan Stock Exchange Wednesday managed to close on a positive note on the back of select buying, mainly by local investors.
https://epaper.brecorder.com/2019/10/10/1-page/804765-news.html

1 Business

Recorder

8.

Russian envoy for enhancing two-way trade

Russian Trade Representative Yury Kozlov has said the bilateral trade volume between Pakistan and Russia is far less than the potential and stressed the need for enhancing cooperation with each other to increase the two-way trade.

https://epaper.brecorder.com/2019/10/10/15-page/804849-news.html

15 Business

Recorder

9.

Taskforce reviews prices of essential items

The Taskforce for Price Control has decided to provide training to price control magistrate as well as to expedite crackdown against hoarders and illegal profiteers.

https://epaper.brecorder.com/2019/10/10/15-page/804850-news.html

15 Business

Recorder

10.

Reforms start bearing fruit: SBP chief

Governor State Bank of Pakistan Dr Reza Baqir has said that the reforms to address the macroeconomic challenges faced by the economy are now beginning to bear fruit and improvement in the external sector has become visible.

https://epaper.brecorder.com/2019/10/10/22-page/804907-news.html

22 Business

Recorder

11.

PM hailed for turnaround

Textile industry achieves 26pc growth in quantitative terms: APTMA

As a result of the progressive policies and personal interest of the Prime Minister, especially by providing regionally competitive energy tariffs the textile industry has become viable after remaining in the red for 10 long years, said All Pakistan Textile Mills Association (APTMA).

https://epaper.brecorder.com/2019/10/10/22-page/804909-news.html

22 Business

Recorder

12.

Pakistan, China resolve to build shared future

Pakistan and China have reaffirmed their resolve to “further deepen strategic communication and strengthen all-weather cooperation” aimed at building a community of shared future in the new era, as Prime Minister Imran Khan and Chinese President Xi Jinping exchanged views on a wide range of bilateral, regional and global issues during their meeting on Wednesday.

https://www.dawn.com/news/1510029/pakistan-china-resolve-to-build-shared-future

1 Dawn
13.

‘Global value chains can spur growth’

The ‘World Development Report 2020’ released by the World Bank has shown its optimism that developing countries can achieve better outcomes for their citizens through reforms which boost their participation in global value chains.

https://www.dawn.com/news/1510039/global-value-chains-can-spur-growth

10 Dawn
14.

Compliance report ready as FATF meeting approaches

The next meeting of the Financial Action Task Force (FATF) is scheduled to be held in Paris from Oct 12 to 15 and Pakistan has already prepared its compliance report, which will be presented by Minister for Economic Affairs Division Hammad Azhar.

dawn.com/news/1510030

14 Dawn
EDITORIAL
15.

Human intervention to be minimized in trade process: Shabbar

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that ultimate goal of incumbent government is to minimize human intervention in trade process for ease of doing business and this process has been initiated.

https://epaper.brecorder.com/2019/10/10/22-page/804908-news.html

22 Business

Recorder

16. Currency exchange rates

 

 

Countries

 

U.S.A

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

 

Rates

 

156.00

191.00

171.30

22.20

41.50

  Business

Recorder

 

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