Sri Lanka has approved gradually lifting some limits on converting rupees to foreign exchange for outward remittances and the new directions will be presented to parliament for approval, cabinet spokesperson Bandula Gunawardane said on Tuesday. The island nation’s central bank had suspended permission to remit funds for overseas investments by Sri Lankan residents from mid-2020 except under cer
S&P Global Ratings has hinted at upgrading Pakistan’s credit rating to ‘B’ following the new political government that comes into power post-Thursday (February 8) elections in the country, but the change in the rating would largely depend on the economic roadmap of the new rulers. To upgrade the rating, the global rating agency will closely watch the new government’s moves towards securing the
The amount of clothing that Pakistan exported to China, both for men and women, significantly increased in the past year. Based on available data, the export of men’s and women’s clothing from Pakistan to China increased by 3% between January to December of 2023, said Ghulam Qadir, Commercial Counsellor at the Pakistani Embassy in Beijing. The strong demand for Pakistani textiles in the Chinese
Caretaker Federal Minister for Information Technology and Telecommunications (MoITT), Dr Umar Saif on Tuesday inaugurated the country’s first e-Rozgar Centre in collaboration of Excel Consulting Services. The centre boasts around 100 workstations fully equipped with state-of-the-art facilities tailored for freelancers, with plans to expand to 300 workstations in the future. Additional Secretary
Cabinet members and two telecom operators have opposed the scheme of providing smartphones to the public on easy instalments. The issue was taken up in a meeting of the cabinet held last month by the Ministry of Information Technology & Telecommunication, which proposed to issue a policy directive to encourage Cellular Mobile Operators (CMOs), as well as agencies working under agreement with CM