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The budget for the next financial year must stimulate growth, repair the broken economy, mitigate the pain being felt by the poor and revive public trust in the government’s capability to ferry the country through the present tough times. Read the rest of this entry »

KARACHI: Two of the largest Pakistani banks on Monday expressed their interest in acquiring domestic operations of Royal Bank of Scotland (RBS), which recently put on sale its business in 36 countries. Read the rest of this entry »

ISLAMABAD: The International Monetary Fund says that Pakistan needs additional aid to withstand a decline in domestic economic activity as exports have dropped in line with slowing growth around the world. Read the rest of this entry »

ISLAMABAD: President Asif Ali Zardari on Tuesday said the government is establishing special investment zones to attract foreign and domestic investment in the country. Read the rest of this entry »

ITB, the world’s biggest travel fair, received a lukewarm response as it kicked off in Berlin earlier this month. Both leisure and business travel has been hit hard by the global financial crisis. Read the rest of this entry »

Emirates Industrial Bank, specialized financial institution based in the UAE, will be merged with the Real Estate Bank, the government-owned entity specialized in facilitating real estate credit for establishments and government organizations in the UAE, creating a new bank – Emirates Development Bank – with Dh10 billion in capital. Read the rest of this entry »

KARACHI: Formulation of provincial investment policy is in its final stages and would be announced soon, Advisor on Investment to Chief Minister, Sindh, Zubair Motiwala said. Read the rest of this entry »

KARACHI: City Nazim Mustafa Kamal has said that infrastructure tax is just a petty amount and it must be collected as the revenue generated will be used for maintaining the city’s infrastructure. Read the rest of this entry »

KARACHI (February 05 2009): Industrial estate at Nooriabad could now attract investments from local as well as foreign business concerns after adequate water supply. The water centric industry like pharma, ceramic, steel etc could also now be planned without hesitation, this was stated by the members of Executive Club of Trade and Industry Nooriabad (ECTIN) in a statement issued here on Wednesday. Read the rest of this entry »

Dubai Group is shifting its investment focus from Asia to the Middle East, India, Turkey and sub-Saharan Africa, and will sell assets in 2009 as it revises its investments in light of the global financial crisis. Read the rest of this entry »

The 39th Annual Meeting of the World Economic Forum in Davos-Klosters concluded its deliberations highlighting the centre stage role that the Middle East region will play in ‘Shaping the Post-Crisis World.’ Read the rest of this entry »

The 39th Annual Meeting of the World Economic Forum in Davos-Klosters concluded its deliberations highlighting the centre stage role that the Middle East region will play in ‘Shaping the Post-Crisis World.’ Read the rest of this entry »

Riyadh: A top American business executive and economic expert cautioned Gulf and Arab investors against the risks of making investments in the United States at present in the wake of the global meltdown. Read the rest of this entry »

Dubai: Total investments in Dubai’s real estate sector exceeded Dh58 billion during the last quarter of 2008, representing a drop in comparison to the previous quarter of 2008, according to REIDIN.com, an online property tracker. Read the rest of this entry »

KARACHI (January 28 2009): Consul General of France, Pierre Seillan has said that Pakistan should market the name for attracting investment and should build image to give confidence to attract overseas investments. Read the rest of this entry »

ISLAMABAD: Pakistan signed an agreement with the World Bank on Tuesday for a soft loan of $500 million for launching various programmes for poverty alleviation. Read the rest of this entry »

KARACHI: The trend of retrenchment in the city’s main industrial areas has deepened as around 250,000 employees, mostly contractual and daily wage, have lost their jobs over the last six months as the economic downturn badly hit the industrial production. Read the rest of this entry »

THERE are clear indications that the mobile phone industry has peaked off its boom in the world and that its climb-down has already begun. In most countries, it is experiencing a massive slow down in sales, faster than expected. Read the rest of this entry »

THE Pakistan International Airlines (PIA), after making the candidates for management training officer (MTO) hiring 2008 wait for a year already, make them wait for another five hours on the test day. Read the rest of this entry »

ISLAMABAD (January 25 2009): Advisor to Prime Minister on Finance Shaukat Tarin said that China has provided 500 million US dollar to Pakistan to help improve its foreign exchange reserves. According to a private TV channel, the advisor said this amount would be repayable in 18 months. Read the rest of this entry »

THE manufacturing base needs to be broadened to support the sagging economy. For this, the existing archaic legal corporate framework needs to be upgraded. The absence of an exit strategy for companies in distress may erode the industrial base. Read the rest of this entry »

KARACHI (APP) – Foreign investors have pulled out $ 7.133 million from stock market during third week of January 2009, SBP report said here Saturday. Read the rest of this entry »

MOSCOW: The number of unemployed Russians rose to 6 million in December compared to 5 million in November as an economic downturn hit home, the head of the federal employment service Yuri Gertsiy said on Saturday. Read the rest of this entry »

City Nazim Syed Mustafa Kamal has said that despite of facing hardships, Haq Parast city government has completed many mega projects worth billions of rupees in Karachi during the last three years which has made the city center of attraction for investors all over the world. Read the rest of this entry »

Representatives from Sharjah’s banking and financial sectors discussed issues concerning UAE’s cultural capital’s economic sectors with The Sharjah Chamber of Commerce and Industry (SCCI). Read the rest of this entry »