Important Business News
15th October, 2019
Trio wins economics Nobel for fighting poverty
US-based economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize on Monday for work in fighting global poverty that has helped millions of children by favouring practical steps over theory.
Mahathir’s criticism of India’s Kashmir action
Indian buyers slash Malaysian palm oil purchases
Indian refiners have stopped buying Malaysian palm oil for shipment in November and December fearing New Delhi could raise import taxes or enforce other measures to curb imports from the Southeast Asian nation, five traders told Reuters on Monday.
Ministries asked to help achieve price stability
Prime Minister Imran Khan chairing a meeting of the federal cabinet has directed the ministries concerned to take measures to stabilize the prices of essential items and ensure their availability in markets for the benefit of common man.
Profit-taking pulls down KSE-100 Index
BRIndex100 sheds 43.74 points
The investors Monday preferred to book profit on available margins on the first day of the week that forced the bourse to close on a negative note.
Spouses, dependent children: Lawmakers asked to share wealth details with ECP
The Election Commission of Pakistan (ECP) on Monday asked all the lawmakers, including the parliamentarians and members of the provincial assemblies, to share with the commission of their wealth details as well as those of their spouses and dependent children by the end of this year.
Iranian CG for strengthening economic relations with Pakistan
Iranian Consul General Mohammad Reza Nazeri on Monday said that despite all odds, the bilateral trade between Pakistan and Iran is good and hoped that mutual trade and economic relations would be stronger in future.
Azhar described as right choice to lead team
The government’s decision to pick Hammad Azhar, Minister for Economic Affairs Division, to represent Pakistan in the critical Financial Action Task Force (FATF) meeting this week in Paris, is a right move given his qualifications as a lawyer and his recent exposure to economy related portfolios.
The government is committed to end smuggling and encourage legal trade with neighbouring countries including Iran and Afghanistan, Chairman Senate Standing Committee on Commerce Mirza Khan Afridi said on Monday.
Investment in government papers, mainly dominated by the banking sector, set new record as it crossed Rs10 trillion-mark.
Russia, Saudi Arabia seal key oil deal
Russian President Vladimir Putin signed a key deal Monday with Saudi Arabia during a key visit for an OPEC+ grouping aimed at stabilising global oil prices and seeking to calm regional tensions with Iran.
EU agrees sanctions framework for Turkey Cyprus drilling
The EU on Monday opened the way to sanctions over Turkey’s controversial drilling for hydrocarbons off Cyprus, approving a legal framework to target those involved.
China imports, exports down in September as growth cools
China’s imports and exports fell more than expected in September, official data showed Monday, as US tariffs and cooling demand at home and abroad hit trade in the world’s second largest economy.
Singapore eases monetary policy for first time in 3 years
Singapore’s central bank eased monetary policy for the first time in three years on Monday, as widely expected, with the city-state’s bellwether economy narrowly dodging recession.
Trade costs of non-tariff measures now more than double that of tariffs: UN report
While applied tariffs in the Asia-Pacific region have halved over the past two decades, the number of non-tariff measures (NTMs) – policy regulations other than tariffs affecting international trade – has risen significantly, according to a new report launched today by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Conference on Trade and Development (UNCTAD).
Only a day after the financial adviser to the prime minister, Hafeez Shaikh, announced that both the critical deficits — fiscal and external — that have plagued the economy — are under “complete control”, the World Bank reminded us that far more remains to be done. In a new report in which the bank takes a deep look at growth, its risks and drivers, in the greater South Asian region, the picture that emerges is a bleak one.
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