Prime Minister Shehbaz Sharif (Photo: Dawn)

Political stability must for economic recovery, says Pakistan PM; calls for ‘Charter of Economy’

The IMF’s refusal to revive the $6 billion bailout package over the government’s initial refusal to implement austerity measures made things worse for the government. In recent weeks, the Sharif government has reduced fuel subsidies drastically and increased electricity tariffs.

World Bank cuts India’s 2022-23 growth to 7.5%, but will keep top spot; South Asia growth to get affected

In South Asia as a whole, the report said, “The Russian Federation’s invasion of Ukraine has weighed on growth in the South Asia region (SAR) after a solid recovery in the second half of last year and amplified pre-existing vulnerabilities”

Pakistan plans IT park in Karachi to boost exports and create jobs

Significantly, the country’s IT exports are rising and has already crossed over $2 billion in the first eight months of the current financial year.  In 2021, the Overseas Investor Chamber of Commerce and Industry (OICCI) said in its report that the country had the potential of $10 billion in annual IT exports.

Power-surplus Nepal hopes to earn $100 million from electricity exports to India

From Thursday this week, Nepal started selling electricity, around 37 MW to Indian buyers, Nepal Electricity Corporation spokesperson Suresh Bhattarai confirmed to The Kathmandu Post. More bids are invited to sell 200 MW in India’s power exchange market on a long-term basis.

More on Economy-Business

'Public-private partnerships critical to pandemic response, big challenges': US CEOs recall coming together to help India during its Covid crisis

Top American CEOs, who were at the forefront of galvanising the business community to help India during its COVID-19 crisis early this year, on Wednesday reflected upon the outpouring of support for their efforts to save lives

UAE investors asked to be part of the Indian growth story: Indian economy is open, asserts Modi

The Indian economy is open to innovation and investment, Prime Minister Narendra Modi told UAE investors, and promised to keep up the reforms momentum in the economy

India’s Adani Group signs deal for Sri Lanka’s West Container Terminal Port, to have 51 percent stake

India's Adani Group has signed a deal worth $700 million with the Sri Lanka Ports Authority (SLPA), the country’s state-owned port firm, and its local partner John Holdings Kneells PVC to develop and run the West Container Terminal (WCT) Port in Colombo

Indian IT firm HCL Technologies hires 1000 IT professionals in Sri Lanka

HCL Technologies, a multinational Indian IT firm, said it hired 1,000 IT professionals in Sri Lanka since June last year when the company started its operations in the island nation as the Rajapaksa government has been pushing the sector in which it sees great growth potential

India, US to co-host Indo-Pacific Business Forum on October 28-29

The United States and India will co-host the fourth annual Indo-Pacific Business Forum (IPBF) October 28- 29 that will bring together leaders in government, industry, media, and non-profits from across the Indo-Pacific, a White House statement said Friday on the occasion of the Quad Summit

India inks USD 2.7 million deal with Airbus to buy 56 military transport aircraft; big boost for Indian aerospace industry

India's Defence Ministry on Friday inked a nearly Rs 20,000-crore (USD 2.7 mn) deal with Airbus Defence and Space, Spain to procure 56 C-295 medium transport aircraft which will replace the ageing Avro-748 planes of the Indian Air Force

After meeting Modi, hi-tech CEOs see India as big investment destination

India has great potential for attracting investments and manufacturing under the various programmes introduced by Prime Minister Narendra Modi as companies try to diversify their global footprints, according to hi-tech CEOs who met him in Washington Thursday

Modi meets with Qualcom CEO to highlight hi-tech opportunities in India

Prime Minister Narendra Modi started his campaign to welcome more investments and enterprise creation in India with a meeting with wireless technology giant Qualcomm CEO Cristiano Amon in Washington on Thursday

Nepal to sign deal with India's AAI for technical assistance at airports

Nepal will sign a deal with India for technical assistance for testing of surveillance and radar systems installed at its airports

Sri Lanka begins first aerial mapping of petroleum resources: Bell Geospace to conduct exploration survey

Sri Lanka has started for the first time an airborne oil exploration survey in its seawater for potential petroleum resources, Energy Minister Udaya Gammanpila said, adding the data and other information collected from the survey will help oil investors looking to invest in the island’s energy sector

Sri Lanka prized tea industry under threat from Rajapaksa’s organic utopia

Sri Lanka’s world-renowned tea industry--accounting for almost ten percent of its total exports--is staring at a disaster, industry players believe, as they anticipate a failing crop by next month due to the blanket ban President Gotabaya Rajapaksa has put early this year on the use of chemical fertilizers

India, US bilateral trade projected to reach $500 billion by 2025: Indian minister

India's Minister for Road Transport and Highways Nitin Gadkari said on Tuesday that the bilateral trade between India and the US has grown from $16 billion to $ 149 billion in the last two decades

Nepal government hikes excise duty on two weekers; festival business likely to be affected

The Nepal government has hiked taxes on two-wheelers automobile in its revised budget presented recently where it proposed an increase in excise duty and road development tax, raising the likelihood of decreased sales in the coming festive seasons

India to help Colombia in vaccine production, space entrepreneurship

India and Colombia have signed a memorandum of understanding on space cooperation and cooperation in biotechnology and pharmaceuticals

India to procure 56 military transport aircraft for $2.6 billion from Airbus Spain

The Indian government has approved a whopping $2.6 billion deal with Airbus Defence and Space S.A. Spain to buy 56 C-295MW transport aircraft, replacing Indian Air Force's aging Avro transport planes inducted some 60 years ago