Category: Latest News

DAVOS: The State Oil Company of the Republic of Azerbaijan (SOCAR) is set to finalise its investment in Pakistan’s oil and gas sector in February, following a high-level business roundtable chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on the sidelines of the World Economic Forum (WEF) Annual Meeting. According to an official statement issued on Thursday, the announcement was made by SOCAR President Rovshan Najaf during his engagement with the finance minister. Najaf said SOCAR views Pakistan as a long-term energy partner, citing the country’s market…

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KARACHI: China has finalised new joint venture agreements worth $1.5 billion with Pakistan and signed memoranda of understanding (MoUs) valued at around $9 billion in the agriculture, automotive and minerals sectors, Federal Minister for Investment Qaiser Ahmed Sheikh said on Thursday. Speaking to The Express Tribune, the minister said China is also expected to make an additional $10 billion investment in Pakistan in the near future, as global interest in the country continues to grow and broader foreign investment inflows are anticipated in the coming years. He disclosed that a…

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QUETTA: Heavy rain and snowfall swept across the Quetta valley and large parts of northern and central Balochistan on Thursday, ending a prolonged dry spell but bringing routine life to a standstill across the province. The severe weather led to the closure of major highways, effectively cutting off the provincial capital, while strong Siberian winds caused temperatures to plunge sharply across the region. Authorities reported that six members of a family were injured when their vehicle skidded off the Quetta–Karachi national highway in the Surab area of Kalat district due…

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ISLAMABAD: The cost of doing business in Pakistan is approximately 34 per cent higher than in comparable regional economies, creating a severe competitiveness crisis for local industry, the Pakistan Business Forum (PBF) warned on Thursday. In a statement, the PBF said elevated operating costs—driven by irrational taxation, excessive energy prices and currency instability—have significantly undermined the ability of Pakistani industries to compete in international markets. As a result, exports have remained largely stagnant since 2022, despite a recovery in global trade across several sectors. PBF Chairman Ahmad Jawad said Pakistani…

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Karachi: Building on the resounding success of its inaugural edition, the Sustainable Tourism Forum & Expo (STF) 2026 returned for its second edition under the theme “Transforming Tourism for Community Development”. The two-day international forum was organized by the Islamic Chamber of Commerce and Development (ICCD) under the esteemed patronage of the Ministry of Commerce and the Board of Investment, Government of Pakistan, and was held on January 21–22, 2026, at PC Hotel, Karachi. With Al Baraka Bank Pakistan and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI)…

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