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Business

Mobile phone users cross 140.5 million in Pakistan

ISLAMABAD (Web Desk) Mobile phone users in the country have reached 140.5 million by May this year which was 133.2 million till July 2016, showing a moderate growth with each passing month.All the operators providing mobile phone services have added around 7.3 million new users in their subscribers during the …

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A ridiculously expensive accountability

ISLAMABAD (Web Desk) The Supreme Court’s landmark decision to disqualify the prime minister has exposed the fragile and nascent democracy to a tough endurance test.The system, fortunately, is expected to survive but the short-term cost to the economy is projected to be immense. A leading light of the business community …

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Businesses divided on verdict fallout

ISLAMABAD (Web Desk) The Supreme Court disqualified Prime Minister Nawaz Sharif from his job on Friday under the controversial articles 62 and 63 of the Constitution for mis-declaring his assets.His sacking has indeed ratcheted up political uncertainty in the country but the markets appear to have already factored it in …

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‘20 business groups get 30pc of total bank loans’

KARACHI: (Web Desk) A research report by the State Bank of Pakistan (SBP) said 30 per cent of banks’ exposure is to only 20 business groups. Growth in credit depends heavily on the appetite of the corporate sector, which currently receives nearly 70pc of total bank lending, according to “Bank …

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Tesla begins to deliver model for the masses

USA (Web Desk) Tesla began delivering on a dream to make an electric car for the masses, rolling out the first of its keenly-awaited “Model 3” cars, aiming to disrupt a world accustomed to automobiles powered by pollution-spewing fossil fuel.An initial batch of the ‘Model 3’ cars that rolled out …

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Businesses offer mixed views on Panamagate verdict

KARACHI (Web Desk)  Avoiding direct comments on the Supreme Court’s order to disqualify Nawaz Sharif in the Panamagate case, most trade and industry leaders shared mixed views and seemed apprehensive about the upcoming days.Talking to Dawn, some leaders opined that businesses would feel the negative impact while others maintained that …

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Nepra notifies reduced upfront tariff for Thar coal-based plants

ISLAMABAD (Web Desk) The National Electric Power Regulatory Authority (Nepra) announced on Thursday a fresh upfront tariff for power projects based on Thar coal that is slightly lower than the last tariff that expired in January.The decision came after almost four months as the regulator conducted a public hearing on …

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Bears dominate PSX before Panamagate verdict

KARACHI (Web Desk) Bears dominated the market in the first session of trading at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index down 719 points ahead of the Panamagate verdict.The KSE-100 Index had nosedived in the opening five minutes, losing 1,134 points, but managed to recover to hover …

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Rs134.4bn development schemes approved

ISLAMABAD (Web Desk) The Executive Committee of the National Economic Council (Ecnec) approved on Wednesday seven development projects at an estimated cost of Rs134.4 billion.Presided over by Finance Minister Ishaq Dar, the body approved the projects that included an Rs8bn road launched by former PPP Prime Minister Raja Pervez Ashraf. …

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IMF to launch new form of aid—with no money

WASHINGTON (Web Desk) The International Monetary Fund (IMF) announced on Wednesday it will launch a new tool to support governments in financial trouble — but one that involves no money — formalising a step it took last week for Greece.Instead of providing cheap loans to member countries, the new IMF …

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