Important Business News 27 Jan , 2018
27 January, 2018
22 tariff lines: Jakarta agrees to provide level playing field
Indonesia has agreed to provide a level playing field to Pakistan on 22 tariff lines, so Pakistan can compete with Indonesia’s Free Trade Agreement (FTA) partners for those tariff lines.
Policy rate raised by 25bps to 6pc
The State Bank of Pakistan (SBP) on Friday, taking a precautionary measure ahead of expected inflationary pressure on the economy, increased key policy rate by 25 basis points (bps) to 6 percent for the next two months.
Senate chairman irked by concession to Chinese company
The government came under severe criticism in the Senate on Friday for exempting a Chinese company from sales tax and federal excise duty through an SRO which the House declared contrary to the rules as well as violation of the Supreme Court judgment.
CPHGC achieves financial close: Imported coal plants, jetty being set up at Hub
An important milestone has been achieved Friday when the financial close of the China Power Hub Generation Company Pvt. Limited (CPHGC), a project of the China Pakistan Economic Corridor (CPEC), was achieved.
PAMA awaits govt-supported tractor scheme
On the one hand, the tractor industry of the country is still waiting for government-support scheme that was promised at the time of the fiscal budget and on the other it is also being denied opportunity under Sindh Tractor Scheme, as the share under scheme is apparently not being fairly given by Sindh government.
PIA to increase number of flights to SA, China
PIA is planning to introduce new destinations and increase its flights to Saudi Arabia and China. This decision has been taken after comprehensive analysis and detailed evaluation of existing network, as said by PIA spokesperson.
Muradokays 38-km-long Malir Expressway project
Sindh Chief Minister Syed Murad Ali Shah on Friday said that the Malir Expressway would be launched under public-private partnership on a design, build, operate, maintain and transfer basis to connect the motorway with the city centre.
Foreign entrepreneurs: Gwadar Expo to provide more business opportunities: Chinese official
Chinese Counselor Jiang Han Friday said the first-ever two-day Gwadar Expo-2018, scheduled to start from January 29 in Balochistan, would help provide more business opportunities to foreign entrepreneurs under China-Pakistan Economic Corridor (CPEC).
SBP’s policy to help develop 3.2m SMEs across country
Small & Medium Enterprises (SME) policy of State Bank of Pakistan (SBP) will play a pivotal role in providing congenial environment to 3.2 million registered SMEs to play their productive role in the overall development of Pakistan, said TasleemQazi Director DFSD, SBP Karachi.
Seed cotton prices drift lower
Seed cotton prices drifted lower on the cotton market on Friday in the process of slow trading, dealers said.
Borrowing from global capital market: Govt to face challenges: economists
Pakistan will face challenges in borrowing from the international capital market in the wake of negative outlook on Pakistan’s long-tern foreign and local currency issuer default ratings by Fitch, according to former advisors to Finance Ministry.
|International Business News|
Trump warns Davos on ‘unfair’ trade
US President Donald Trump took his “America First” message to the world’s elite on Friday, telling a summit of business and political leaders that the United States would “no longer turn a blind eye” to what he described as unfair trade practices.
Saarc General Assembly, Chamber to meet in Islamabad on Feb 6
Pakistan will host top level 73rd Executive Committee and 22nd General Assembly meetings of the South Asia Association for Regional Co-operation (Saarc) Chamber of Commerce and Industry in Islamabad on Feb 6.
Trade wars in the offing?- Editorial
The US wants a “fair economic competition”. This official statement stems from President Donald Trump’s eagerness to implement his “America first” agenda as early as possible. Coming as it does from a top US economic official, it tells the world that the global trade is skewed against Washington’s economic interests. Seeking to turn this “unfair” competition into a “fair” one, the US wants to weaken its currency as a first, and major, step towards “striking a delicate balance”.
Davos 2018- Article
The footprints of Pakistan at the World Economic Forum at Davos is a promising improvement, compared to its pathetic participation and at times no show at Davos, and it happened at a very short notice.
|16.||Currency exchange rates