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Latest Business News From Pakistan and Around the World..

Governor SBP urges banks to accelerate lending activities in KP

KARACHI: Governor State Bank of Pakistan (SBP), Ashraf Mahmood Wathra on Monday urged the banks to acknowledge changing business conditions of Khyber Pakhtunkhwa (KP) and accelerate the pace of its credit expansion and other trade facilitation activities in the province, … Read More

ADB considering to enhance funding for Pakistan

ISLAMABAD: Asian Development Bank (ADB) says it is considering enhancing funding for Pakistan.

Executive Director of the bank, Sami Saeed made this assurance during his meeting with Finance Minister Ishaq Dar in Islamabad on Tuesday.

Sami Saeed said the ADB … Read More

SBP holds training workshop for journalists

KARACHI: State Bank of Pakistan (SBP) organized a two-day workshop for journalists, entitled Understanding Macroeconomics, Financial Sector and Banking,’ reporting on the economy and business on June 15-16, 2015 at Karachi.

The objective of this workshop was to familiarize the … Read More

Eradication of terrorism, poverty govt’s top priority: Dar

WASHINGTON: Finance Minister Ishaq Dar has said the eradication of terrorism and poverty was the utmost priority of the government, ARY News reported.

“Construction of dams is now inevitable to control the growing power crisis in the country. The incumbent … Read More

Several Swiss banks pull out of U.S. tax program: paper

ZURICH: At least 10 Swiss banks have withdrawn from a U.S. program aimed at settling a tax dispute between them and the United States, Swiss newspaper NZZ am Sonntag said on Sunday, quoting unnamed sources.

Around 100 Swiss banks came … Read More

PIA delaying forensic audit despite court’s order

ISLAMABAD: In a bid to find out the causes behind heavy deficit of Pakistan International Airline (PIA), Supreme Court ordered to carry out its forensic audit about 1.5 years back but it still remains in pending, ARY News reported.

It … Read More

CNG stations to remain close on Saturday

KARACHI: CNG stations in Sindh including Karachi will remain close on Saturday as well during current week, ARY News reported.

Sui Southern Gas Company (SSGC) has rescheduled the suspension of gas supply to CNG stations adding another day extending CNG … Read More

BlackBerry closes chapter on restructuring process: internal memo

TORONTO: BlackBerry Ltd has concluded a protracted and painful restructuring process and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters.

“We have completed the restructuring notification process, and the workforce … Read More

Yahoo to buy analytics startup Flurry

SAN FRANCISCO: Yahoo Inc (YHOO.O) will buy mobile analytics startup Flurry to beef up a fast-growing mobile advertising business that still lags Google Inc’s (GOOG.O) and Facebook Inc’s (FB.O) in scale.

Six-year-old Flurry uses analytics to help target ads at … Read More

Emirates finalizes $56 billion order for 150 Boeing 777X planes

DUBAI: Dubai airline Emirates [EMIRA.UL] finalized a $56 billion order to buy 150 Boeing (BA.N) 777X jets on Wednesday, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus (AIR.PA).

The deal includes … Read More

PM Nawaz rejects petroleum price hike

ISLAMABAD: Prime Minister Nawaz Sharif has rejected the summary of Oil and Gas Regulatory Authority (OGRA) to increase the prices of petroleum goods, ARY News reports.

OGRA had forwarded a report to the federal government to increase the prices of … Read More

PSM receives second tranche of bailout package

ISLAMABAD: The federal government of Pakistan has issued the second tranche of bailout package worth Rs. 2.55 billion to Pakistan Steel Mills (PSM), ARY News reported.

PSM spokesman, Shazim Akhtar confirmed that PSM has received the second tranche of the … Read More

World Bank approves loan for Dasu project

ISLAMABAD: The World Bank has approved the financial package amounting $700 million for two major water projects including on Wednesday, ARY News reported.

According to statement issued, the approval was given in the meeting held in Washington with board of … Read More

Shahbaz lays foundation stone of Royai Textile Industrial Park Project

FAISALABAD: Chief Minister of Punjab, Shahbaz Sharif has said that former rulers delayed the Nandipur Power Project with a capacity of 425 MWs, for the sake of commission. He once again claimed to end power outages from the country, yet … Read More

Cable operators demand immediate ban on Geo

KARACHI: Castigating Geo Tv for resorting to hooliganism and abusing cable operators at the Karachi Press Club today, the Cable Operators Association of Pakistan has demanded immediate ban on Geo TV, ARY News reported.

In an emergency press conference, Chairman … Read More