Retail store closures in the US could explode because of the coronavirus
2019 brought with it record store closures in the retail industry in the U.S. 2020 looks like it is about to be a lot worse. With a coronavirus pandemic hitting…
Pakistan to Cut Import Duty to Make Exports More Competitive
Pakistan plans to remove duties on many raw materials used by exporters, aiming to make them more regionally competitive and help the economy escape a recurring boom-bust cycle. Duties on…
Stocks fall as U.S. virus response disappoints investors
TOKYO (Reuters) – Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an…
European markets look to higher open as coronavirus remains in focus
European markets are expected to open higher Wednesday as investors continue to watch the spread of the coronavirus, oil prices and geopolitics. London’s FTSE index is seen 27 points higher…
American companies in China count costs of trade war
SHANGHAI — American companies had a difficult year in China in 2019 amid their country’s trade war with Beijing and slowing economic momentum, as those reporting revenue growth or profitability…
ASEAN Economic Ministers Begin Three-Day Meeting in Vietnam on Tuesday
MOSCOW (Sputnik) – Association of Southeast Asian Nations (ASEAN) member states will convene on Tuesday in the Vietnamese city of Da Nang for the start of the ASEAN Economic Ministers’…
Saudi Arabia to hike oil output above 10 million barrels per day in April after OPEC+ deal collapse
Saudi Arabia, the world’s top oil exporter, plans to raise its crude oil production significantly above 10 million barrels per day (bpd) in April, after the collapse of OPEC’s supply…
Currencies in South Korea, Australia and New Zealand crumble as market volatility shoots up
Major Asia Pacific currencies dropped against the U.S. dollar on Monday morning, as investors took a risk-off approach with volatility across markets shooting up over an oil price war. The…
Pakistan Reopens Border Crossing With Iran Despite Coronavirus Fears – Reports
Pakistan reopened the border crossing with Iran in the western town of Taftan on Saturday. Trucks were allowed to cross the border after a 14-day quarantine imposed over fears of…
‘No guarantee’ that Saudi Arabia will get what it wants at the OPEC meeting, expert says
If Saudi Arabia wants OPEC and its allies to agree to lower oil output, it will likely have to do “a lot of the heavy-lifting,” one oil watcher has told…
China Car Sales Drop Record 80% as Virus Empties Showrooms
China’s car sales had the biggest monthly plunge on record as the coronavirus kept shoppers away, intensifying the pressure on automakers already battling an unprecedented slump before the outbreak. Sales…
Dollar Dips to Five-Month Low Despite Fed’s Emergency Rate Cut
A surprise basis point cut in interest rates spearheaded by the Fed in a bid to nullify the negative effect of the spread of the coronavirus on the greenback is…
Bank of Japan’s Kuroda offers bleak view on economy, warns of big hit from virus
TOKYO: Bank of Japan Governor Haruhiko Kuroda on Wednesday said the coronavirus outbreak could inflict big damage on the economy, stressing the central bank’s readiness to take “appropriate action” to…
Sales of electric cars in Norway hit a record high
OSLO: Sales of new electric cars in Norway hit a record high last year, sector experts said Friday, reaching 42.4 percent of all nearly-registered cars in 2019, mostly thanks to…
Canada agrees to explore avenues for defense and security cooperation
OTTAWA: General Jonathan Vance, Chief of Defence Staff, Canadian Armed Forces has agreed with the High Commissioner of Pakistan in Ottawa, Raza Bashir Tarar to further explore the avenues for…
Global economic outlook ‘precarious,’ no room for mistakes, IMF warns
WASHINGTON: The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war and other factors like Brexit undercut business confidence and investment,…
Saudi Aramco to resume full oil production capacity by end of November
DUBAI: Saudi Arabia’s full oil production capacity will be recovered by the end of November, Saudi Aramco CEO Amin Nasser said on Wednesday. “By September we will be, in terms…
Oil prices increase on signs of easing US-China tensions
DUBAI: Oil rose on Wednesday following media reports that China was open to agreeing a partial trade deal with the United States. on the other hand, Turkey’s military operation in…
Beneficial owners of Benami accounts to face consequences: FBR
ISLAMABAD: After refusal of Pakistan Banking Association (PBA) for updating Know Your Customer (KYC) requirements on account of beneficial owner in the light of Benami law, the FBR has warned…
Imran Khan meets Chinese corporate heads to reinvigorate business and investment ties
BEIJING: Prime Minister of Pakistan Imran Khan held a series of meetings with the Chairpersons and CEOs of top-ranking Chinese Companies on 8 October 2019. This is Pakistan Prime Minister…