Category archives for: Business

ADB shows Pakistani economy growing at higher rate than projected

Asian Development Bank

Asian Development Bank (ADB) in its 2014 Asian Development Outlook supplement shows Pakistani economy growing at a higher rate than projected for 2013-14 on Friday July 19, 2014. The report indicates that that economic growth in Pakistan is 4.1% which is above the forecast of 3.7% in April.  The outlook also suggest reduction in the […]

Economic sanctions hit Ruble

russian ruble

The new sanctions imposed by the U.S. and the European Union on Russia have been quick to take effect. The ruble depreciated Thursday to its lowest against the dollar since March, when Russia started operations in Crimea, and the bag was left Moscow 2.31% amid fears that Russian companies are facing problems of liquidity after […]

Emerging economies approve new bank and a reserve fund

BRICS new development bank

The bank of the BRICS, ie the group of countries comprising Brazil, Russia, India, China and South Africa, is emerging. It will be based in Shanghai. Its first president will be Indian, his first director general, Brazilian and its first governor, Russian. It was born to confront, from a financial point of view, ” deficits […]

LPG use in public transport banned in Pakistan

LPG banned in Pakistan for Public Transport

Oil and Gas Regulatory Authority (OGRA) on Wednesday July 16, 2014 has banned the use of Liquid Petroleum Gas (LPG) in public transport sector with immediate effect as it could be extremely dangerous. However, it is not clear what will be  penalty for violating the imposed ban. OGRA issued the notification after approval from the […]

Australian senate scraps visa rules for offshore rig workers

offshore oil rigs

Australian Senators on Wednesday July 16, 2014 teamed up to vote down  a new visa regime that allowed the skilled migrants to be hired at the offshore rigs in the Australia’s Exclusive Economic Zone. The rules were exploiting the foreign workers at the expense of Australian workers as claimed by the Senators. The governing party, […]

Shortage of innovation slows export pace in Latin America

lack of innovation in Latin America

Latin American leads global entrepreneurship among the emerging economies, but are slowing down due to lack of  innovation. A deadly equation which neither multinationals are not spared, and penalizes the growth of the region and exports. Examples abound. Chinese multinationals investing in R & D 34 times more than Latin American transnational manufacturing, except for […]

Large-scale theft of oil in Pakistan State Oil uncovered

Paksitan Statel Oil PSO

Public Accounts Committee have met in Islamabad to discuss the audit reports of the Pakistan State Oil on July 11, 2014. The committee expressed resentment on the discovery of large-scale oil. Committee asked to implement tracking and monitoring system for the movement of oil tankers. Committee also recommended strict action against culprits. Public Accounts Committee […]

Modi encourages large investments in modernizing India

India Finance Minister Arun Jaitley

Two months after winning the elections in India with the largest parliamentary support of the past 30 years, the government of Narendra Modi on Thursday presented his first budget to Parliament, a project that is far from the great expectations created himself Executive but proposed to the third largest economy in Asia lead to the […]

Export of Pakistani basmati rice increased by 16%

basmati rice

Pakistan rice exporters earned $1.9 billions from July 2013 to 30 June 2014 from the export of basmati and non-basmati rice with an increase of 16% in the export of basmati rice. Pakistani basmati rice is being exported at 35% higher price than the competitors. The former chairman of Rice Exporters Association of Pakistan and […]

Pakistan Eyes $40billion Investment from China

It has been proposed by Beijing that they are willing to make an investment worth $40 billion as they are trying to penetrate through the Pakistani market. Pakistan is currently the first priority target market for China because they can see a lot of potential in it. Moreover, the biggest deep sea port in the […]

LPG prices increased third time in 3 days

LPG banned in Pakistan for Public Transport

The price hike spree of LPG marketing companies in the country shows  no sign of coming under control as LPG prices have been increased for the third consecutive day. After the most recent raise, the price of LPG cylinder for domestic use has now increased by Rs200 during past three days. LPG marketing companies today […]

Al Sisi increases gasoline prices upto 80% in Egypt

egyptian president al sisi

The new Egyptian President Abdelfatá al Sisi, in a risky move that has attracted widespread unrest among the citizenry, has raised the price of petrol grades between 40% and 78 % in order to save the public purse billions of pounds in subsidies. Quarterback Al Sisi took office in early June, almost a year after […]


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