Croatia was counting down the hours on Saturday ahead of a switch to the euro and entry into Europe’s passport-free zone — two major milestones for the country after joining the EU nearly a decade ago. At midnight (2300 GMT) the Balkan nation will bid farewell to its kuna currency and become the 20th member of the eurozone. It will also be the 27th nation in the passport-free Schengen zone, the
The prices of cement and steel — the two key building materials — have jumped 41 per cent and 16pc, respectively, pushing up the cost which resulted in a construction slowdown in the outgoing calendar 2022. The 50-kg cement bag rate rose to Rs1,043 from Rs738 on Dec 30, 2021 while per tonne steel bar prices increased to Rs224,500-225,500 from Rs194,500-197,500 a year ago. Steel bars, which h
Having exceeded projections in the first five months of the current fiscal year, the Federal Board of Revenue (FBR) missed its collection target for December by almost 24 per cent, or Rs225 billion, owing to a sharp drop in imports as well as delay in collection of super tax from maximum taxpayers, showed provisional data on Saturday. The provisional revenue collection stood at Rs740bn in Decem
Nothing less than a miracle would dramatically change the manufacturing sector’s fortunes in the current election year after the challenging 2022 that saw temporary closures, deferments of expansion plans and scaling down of production by multiple businesses. Risks are higher for energy-intensive, import-reliant units, but prospects are relatively brighter for fast-moving consumer goods provide
Good things come to those who wait and for Pakistan’s tech ecosystem, the wait finally seemed to be over in 2021. Funding surged over 5x to $366 million and tech exports crossed $2 billion. Big shot investors entered the market, things were on the go and optimism was all abound. But that cliched saying doesn’t really mention anything about good things lasting, and that’s exactly what happened i