BERLIN (Reuters)- Volkswagen (VOWG_p.DE) announced on Wednesday that it is collaborating with Chinese EV startup Xpeng and joint venture partner SAIC to develop new vehicles and perhaps co-create platforms in order to defend market share. The Volkswagen brand will collaborate with Xpeng Inc (9868.HK) to build two cars aimed atRead More →
The benchmark KSE-100 index for the Pakistan Stock Exchange (PSX) rose more than 600 points on Friday and surpassed the 46,000 level. At 3:46 p.m., the index had risen 675.30 points, or 6.07 percent, from its previous closing of 45,398.31. Director of Arif Habib Corporation Ahsan Mehanti claimed that theRead More →
According to a representative for the Karachi Port Trust, a second shipment of crude oil from Russia is expected to arrive in Pakistan tomorrow. The ship, “Clyde Noble,” will transport 55,000 metric tonnes of crude oil. On June 11, the first Russian crude oil ship arrived in Pakistan with 45,000Read More →
The staff-level agreement between Pakistan and the International Monetary Fund (IMF) is anticipated to be signed on Tuesday. According to sources with direct knowledge of the situation, the negotiations with the international lender are now in their final phases, and all conditions are no longer in a state of deadlock.Read More →
LAHORE (Web Desk)- Hamid Zaman, the chairman of the All Pakistan Textile Mills Association (APTMA) North Zone, has expressed concern about widespread closures and layoffs of textile workers due to the Regionally Competitive Energy Tariff (RCET), which sets petrol prices for the export sector at $9/MMbtu and electricity at 9Read More →
Reuters: ISLAMABAD Pakistan’s petroleum minister said on Monday that the South Asian nation’s first government-to-government purchase of discounted Russian oil was paid for in Chinese currency, marking a major change in its export payment policy, which had previously been dominated by the U.S. dollar. Discounted crude provides relief as PakistanRead More →
Finance Minister Ishaq Dar has said that the government is considering eliminating a 2% final tax on the acquisition of real estate for Pakistanis living abroad in an effort to promote remittances via official channels. In his budget address to the National Assembly on Friday, the financial czar said thatRead More →
ISLAMABAD (APP) – Approximately 12 multinational businesses have shown a strong interest to the parliament in the outsourcing-bidding process for airport facilities, which is anticipated to begin in July, according to Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Saturday. Speaking at the post-budget news conference, he saidRead More →
ISLAMABAD : The 2023–24 budget, according to Finance Minister Ishaq Dar, focused on economic development and was thus distinct from other budgets. In answer to a question during the post-budget news conference in the nation’s capital, Dar said that the government was developing a “Plan B” in the event thatRead More →
ANKARA (AP) — Recep Tayyip Erdogan was re-elected as president of Turkey last month, even though the economy is in bad shape and there is a cost-of-living problem that experts say is made worse by his unusual economic policies. The longtime leader put a well-known former banker in charge ofRead More →
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