Important Business News 27 Jan , 2018

Important Business News 27 Jan , 2018

27 January, 2018

S.# Description Pg # Source
1.      

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.
This was announced by Indonesian Minister of Trade, EnggartiastoLukita, Fridaywhile addressing the Indonesia-Pakistan Business Forum which met here for fostering trade, investment and economic partnership between the two countries. The Indonesian government has also agreed to relax quota restriction on Kinnow import from Pakistan.

http://epaper.brecorder.com/2018/01/27/1-page/696354-news.html

1 Business Recorder
2.      

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.

http://epaper.brecorder.com/2018/01/27/1-page/696362-news.html

1 Business Recorder
3.      

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.

http://epaper.brecorder.com/2018/01/27/1-page/696356-news.html

1 Business Recorder
4.      

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.
http://epaper.brecorder.com/2018/01/27/1-page/696357-news.html

1 Business Recorder
5.      

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.

http://epaper.brecorder.com/2018/01/27/3-page/696377-news.html

3 Business Recorder
6.      

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.

http://epaper.brecorder.com/2018/01/27/3-page/696386-news.html

3 Business Recorder
7.      

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.

http://epaper.brecorder.com/2018/01/27/5-page/696391-news.html

5 Business Recorder
8.      

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).

http://epaper.brecorder.com/2018/01/27/7-page/696407-news.html

7 Business Recorder
9.      

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.

http://epaper.brecorder.com/2018/01/27/7-page/696407-news.html

8 Business Recorder
10.   

Seed cotton prices drift lower

Seed cotton prices drifted lower on the cotton market on Friday in the process of slow trading, dealers said.
The official spot rate was unchanged at Rs 7,500, they added. In ready session, over 4000 bales of cotton changed hands between Rs 6500-7535, they said. In both Sindh and the Punjab, seed cotton prices were down by Rs 200 to Rs 2700 and Rs 3300, they said.

http://epaper.brecorder.com/2018/01/27/16-page/696492-news.html

16 Business Recorder
11.   

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.

http://epaper.brecorder.com/2018/01/27/20-page/696539-news.html

20 Business Recorder
  International Business News    
12.   

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.

http://epaper.brecorder.com/2018/01/27/1-page/696361-news.html

1 Business Recorder
13.   

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.

http://epaper.brecorder.com/2018/01/27/7-page/696407-news.html

8 Business Recorder
  Editorial/Reports

 

   
14.   

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”.

http://epaper.brecorder.com/2018/01/27/18-page/696521-news.html

18 Business Recorder
15.   

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.
The high points of Pakistan’s presence and acceptance at Davos was in 2006 and 2007 when investors’ interest in investing in Pakistan was at its peak. The comeback, somewhat to that level, is being witnessed in 2018 under the influence of the presence of Prime Minister Abbasi, in the backdrop of CPEC and Pakistan’s GDP growth of over 5.5 percent.

http://epaper.brecorder.com/2018/01/27/18-page/696523-news.html

18 Business Recorder
16.    Currency exchange rates

 

Countries

 

U.S.A

U.K

EURO

CANADA

CHINA

SAUDIA ARABIA

Selling TT & OD 110.55

156.82

137.37

89.53

17.89

29.48

Buying TT Clean

110.35

156.54

137.213

89.37

17.86

29.42

Buying OD/T.CHQ

110.12

156.22

136.84

89.13

17.81

29.35

11 Business Recorder

 

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