Economy

UK’s inflation grows, consumer spending crashes

Rising inflation is taking its toll on British households, knocking consumer confidence to its lowest level since the aftermath of last summer’s Brexit vote. Pollsters YouGov said worries about job security and living costs pushed its monthly measure of consumer mood down a further 1.5 points to 108 in April, the weakest reading since last July. The score above 100 …

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Alibaba CEO at the UN e-comm development drive

Alibaba CEO at the UN e-comm development drive

Alibaba Executive Chairman Jack Ma said on Tuesday the Internet should be a utility available to the whole world, putting his weight behind a UN call for e-commerce to boost developing economies and help fight poverty. Ma, who advises the United Nations trade and development agency UNCTAD on small business and young entrepreneurs, was the star attraction at a conference …

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Don’t underestimate benefits of CPEC

There has been a spate of articles by journalists and statements by business leaders expressing reservations both about CPEC-related industrial zones and also our nation’s ability to meet its sovereign obligations vis-a-vis various projects undertaken by the Chinese and other investors. Whereas most of the reservations expressed are out of sincere concern, they nonetheless are, in my view, unfounded and …

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Are more taxes being collect under provincial system?

Are more taxes being collect under provincial system?

The 18th Amendment to the Constitution and the 7th National Finance Commission (NFC) award supporting it give the provinces greater control over their fiscal affairs, but has that increased revenue collection? This post compares how Sindh, Punjab, and Khyber Pakhtunkhwa (KP) have raised tax revenue following devolution. Pakistan’s tax-to-GDP ratio in 2016 stood at 12 percent. According to a recent …

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Pakistan’s circular debt spins on

Long hours of load-shedding are back. The recurrence of this is an old political issue, though successive governments are oblivious of its economics. There is a strong association between politics and economics, but the role of the latter has always been brushed under the carpet. How can one ignore economics? The habit of absolute comparison tends to create a mirage. …

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Pakistan’s real estate market trends

Everyone in Karachi believes that the safest and most lucrative investment is in the real estate sector these days since it provides the best returns with much less risk and effort. That is why, every other day, housing schemes are being launched. It means that the property boom is here. But is it here forever? That’s the million-dollar question. These …

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Coal Energy can be clean

Coal Energy can be clean

Coal power has acquired a bad image, perhaps less due to its pollution dimension and more due to the CO2 emission which produce greenhouse gases, causing climate change, in which Pakistan has been projected to be one of 10 worst victims. Despite criticism of coal, hundreds of coal power plants keep operating in the world and more than 100,000 megawatts …

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Trump’s job creation claims rejected

Trump's job creation claims rejected

At a meeting of business leaders at the White House on Tuesday, President Donald Trump claimed that he was already making good on his promise to be “the greatest jobs producer that God ever created.” “We’ve created over 600,000 jobs already in a very short period of time, and it’s going to really start catching on now, because some of …

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Pakistan – India trade expands despite tensions

Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday. A report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing imports by 23 per cent, …

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FBR to connect with mobile networks for taxes monitoring

FBR to connect with mobile networks for taxes monitoring

It could take over three months before the government can connect to the servers of cellular phone operators to monitor the taxes which these companies charge their customers, the Federal Board of Revenue (FBR) told a parliamentary committee on Thursday. “The FBR has installed a mechanism and dedicated independent servers to connect with the systems of mobile service operators. There …

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