The World Economic Forum (WEF) launched on Monday the Global Cooperation Barometer to measure the state of global cooperation. The barometer indicates that global cooperation was resilient in multiple dimensions from 2012 until 2020 but overall cooperation declined by 2 per cent from 2020 to 2022. The Global Cooperation Barometer, developed in collaboration with McKinsey and Company, uses 42 i
The services sector exports in November contracted year-on-year for the first time during the current fiscal year, according to data compiled by the Pakistan Bureau of Statistics. The services exports fell to $631.93 million in November marking a 15.85 per cent decline from the $750.95m in the corresponding month last year. Contrary to this, merchandise exports reversed the trend and increas
The caretaker government plans to get going Pakistan Development Fund Ltd (PDFL) — a $1.5 billion state-owned shell entity — to provide an alternative financing source to public sector development projects through divestment of government stakes in public sector and public-private partnerships (PPP). The entity was created in June 2014 with inflows of $1.5bn financial support from Saudi Arabia
The regular appreciation of the rupee has compelled exporters to sell their dollars in the banking market, which has helped the exchange rate remain stable, said sources in the financial sector. The financial sector also noted another confidence boost with hopes attached to the Special Investment Facilitation Council (SIFC), as business delegations from Gulf countries have started visiting Paki
As Pakistani exporters continue cashing in on the situation that emerged after the Indian ban on onion exports, local consumers are taking the hit of an improvement in foreign exchange earnings by paying up to Rs240 per kg for the commodity in the domestic markets. When India imposed a ban on Dec 8, 2023 till March 2024, local rates suddenly crawled up to Rs160-180 from Rs120-140 on intense buy