China's economy grew last year at its slowest pace in four decades as it was hammered by Covid lockdowns and a property crisis but the forecast-beating reading raised hopes for a strong recovery as it reopens. Beijing's rigid adherence to its zero-Covid strategy of strict containment that effectively shut the country off from the world hammered business activity last year and threw supply chain
China's economy grew last year at its slowest pace in four decades as it was hammered by Covid lockdowns and a property crisis but the forecast-beating reading raised hopes for a strong recovery as it reopens. Beijing's rigid adherence to its zero-Covid strategy of strict containment that effectively shut the country off from the world hammered business activity last year and threw supply chain
A South Korean chemical company announced on Monday it’s exiting the Pakistan market after 13 years. Lotte Chemical Company Pakistan Ltd said its South Korea–based majority shareholder is selling its entire stake of 75.01 per cent in the local firm to optimise its overall business portfolio. Separately, Lucky Core Industries Ltd said it’s buying the shareholding from the foreign investor. Ne
As the dollar crisis deepens and strong reaction is beginning to appear from almost all sectors of the economy, Finance Minister Ishaq Dar on Monday reiterated that government will facilitate all exporters, including five previously zero-rated sectors, for the import of raw material, parts and accessories to meet their requirements. Mr Dar took to Twitter to announce that the export industry wa
Oil prices were mixed on Tuesday after China posted its weakest economic growth in nearly half a century, while its late-2022 U-turn in Covid policy still supported hopes of recovery in the country’s fuel demand this year. Brent crude futures had risen 16 cents, or 0.2 per cent, to $84.62 by 0414 GMT, recouping some of the 1pc loss of the previous session. US West Texas Intermediate (WTI) cr