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PM announces one-time amnesty scheme on offshore assets
Express Tribune (January 18, 2018)
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ISLAMABAD: Prime Minister Shahid Khaqan Abbasi announced on Wednesday that a one-time tax amnesty scheme on offshore assets will be offered to Pakistanis,
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while also saying that tax rates on personal income will be lowered amid his disapproval of the Federal Board of Revenue’s (FBR) performance. The premier’s
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dissatisfaction was not only limited to the tax machinery, as Abbasi also refrained from talking confidently about overall economic
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Modi launches $6.8bn refinery in Rajasthan
Dawn (January 17, 2018)
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BARMER: Indian Prime Minister Narendra Modi on Tuesday launched the construction of a $6.8 billion refinery in the western state of Rajasthan, in the hopes of
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meeting the rising fuel demand. By 2030, India’s demand for petrol and diesel is expected to go up by two-thirds to 170bn litres, as an expanding middle class
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spends on cars and air travel. The 180,000-barrel-per-day refinery and petrochemical
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Foreign direct investment drops 3pc despite growing inflows from China
Dawn (January 17, 2018)
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KARACHI: Foreign direct investment (FDI) fell 2.8 per cent to $1.38 billion in the first half of 2017-18, although inflows from China rose 2.4 times, the State Bank of Pakistan
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reported on Tuesday. Data showed the pattern of inflows significantly changed recently. China now dominates FDI with a share of more than two-thirds in total
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investments. Beijing emerged first as the largest trading partner of Islamabad and now it has become the top foreign
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Government lowers additional borrowings to Rs 20,000 crore this fiscal
Times of India (January 17, 2018)
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NEW DELHI: The government on Wednesday lowered the additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore estimated
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earlier. “Government has reassessed additional borrowing requirements taking note of revenue receipts and expenditure pattern. Requirement of
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additional borrowing being reduced from Rs 50,000 crore as notified earlier to Rs 20,000 crore,” Economic Affairs
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Eurozone inflation revised up to 0.2% in November
Times of Malta (January 17, 2018)
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Eurozone inflation was revised up to 0.2 per cent in November, rising slightly more than expected mostly because of a slowdown in the decline of energy prices, the
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EU statistics agency said yesterday. Eurostat previously estimated inflation at 0.1 per cent last month in the 19 countries sharing the euro. The
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monthly consumer price change was -0.1 per cent, slightly higher than the expected -0.2 per cent. The revision
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France’s 2017 state budget deficit lowest since 2008
Business Recorder (January 16, 2018)
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budget ministry said on Tuesday. The deficit came to 67.8 billion euros ($82.99 billion) last year, marking an improvement of 1.5 billion euros from 2016, the
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budget ministry said on Tuesday. The deficit came to 67.8 billion euros ($82.99 billion) last year, marking an improvement of 1.5 billion euros from 2016, the
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ministry said. It was also better than the 69.3 billion euros originally budgeted by the previous Socialist government
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First ever citizen’s budget of District Charsadda presented
The Statesman (January 14, 2018)
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CHARSADDA: Centre for Peace and Development Initiatives (CPDI) launched the first-ever Citizens’ Budget of District Charsada with support of Saiban
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Development Organization. Jamshed Tariq, Project Coordinator CPDI Khyber Pakhtunkhwa said this is for the first time in Pakistan that citizens’ budget was
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developed at district level. For the understanding of budget allocations, a citizens’ budget is developed in jargon free and easy to
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World Economic Forum ranks India 30th on global manufacturing index; Japan Tops
Hindustan Times (January 14, 2018)
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Press Trust of India: New Delhi/Geneva: The report, which analyses development of modern industrial strategies and urges collaborative action, has categorised 100 countries
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into four groups — Leading (strong current base, high level of readiness for future); High Potential (limited current base, high potential for future); Legacy (strong current base, at risk for
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future); or Nascent (limited current base, low level of readiness for future).
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CPDI launches ‘Citizens Budget’ for Charsadda
Express Tribune (January 13, 2018)
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CHARSADDA:Â Centre for Peace and Development Initiatives (CPDI) launched a first-ever Citizens’ Budget of District Charssada with support of Saiban
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Development Organisation. Khyber Pakhtunkhwa CPDI Project Coordinator Jamshed Tariq said this is for the first time in Pakistan that citizens’ budget was developed at
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district level. For the understanding of budget allocations, a citizens’ budget is developed in easy to
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Chinese economy grew “around 6.9%” in 2017: premier
Daily Times (January 12, 2018)
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Agencies: China’s premier expects economic growth of around 6.9 percent for 2017, as he saw a “better than expected” outlook for the world’s second-largest
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economy, state media said Thursday. The authorities will release official gross domestic product figures next week but Premier Li Keqiang has given his own forecast.
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“Over the past year, the Chinese economy has been on a stable and favourable development path, with its overall circumstances better excess
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Pak growth rate to reach average 5.9pc: WB Report
Business Recorder by Parvez Jabri (January 10, 2018)
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ISLAMABAD: The World Bank (WB), in its recent report, has predicted that Pakistan economic growth would reach at an average 5.9 percent a year over the
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medium term on the back of continued robust domestic consumption, rising investment, and a recovery in exports. “In Pakistan, growth is forecast to pick up to 5.5
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percent in FY2017/18, and reach at an average 5.9 percent a year over the medium term on the back of continued
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India to be fastest growing economy again in 2018: World Bank
Hindustan Times (January 10, 2018)
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After conceding the top spot in economic growth among major economies to China for a year in 2017, India is likely to regain the position in 2018 with growth expected to
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accelerate to 7.3% in the year, according to the World Bank’s Global Economic Prospects released on Tuesday. The World Bank report projected China’s
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economy to further slow down to grow at 6.4% in 2018 from 6.8% in 2017. The multilateral institution
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Pakistan procured $40 billion loans in last four years
Pakistan Today (January 08, 2018)
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ISLAMABAD: Pakistan procured $40 billion of loans during PML-N’s four-year tenure till end of October 2017. The figure is $6.2 billion higher than the one shared with the National
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Assembly last month, reported Express Tribune. As per data shared by Economic Affairs Division (EAD) with the National Assembly Standing Committee on Finance and Economic
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Affairs, gross foreign loan procurement from July 2013-October 2017 was recorded at $34.2 billion. This $34.2
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Most Asian markets rise as 2018 rally extends
Daily Times (January 06, 2018)
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The equity rally that has kicked off 2018 continued on Friday, with Asian markets picking up the baton from another set of records on Wall Street. Dealers are now
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turning their attention to the release later in the day of key US jobs data, which is expected to show the world’s top economy continuing to improve. A forecast-smashing
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reading Thursday on private take-ups boosted optimism, which had already been bolstered by US tax cuts, healthy
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Canada trade deficit swells in November on surge of imports
Business Recorder (January 05, 2018)
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OTTAWA: Canada’s trade deficit grew to C$2.54 billion ($2.03 billion) in November from C$1.55 billion in October as imports posted their biggest surge in more
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than eight years and far outpaced the growth of exports, Statistics Canada said on Friday. The deficit far exceeded the C$1.20 billion shortfall estimated by
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analysts in a Reuters poll. Exports grew by 3.7 percent, the most in a year, on higher shipments of motor vehicles and consumer
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