• Decline in Remittances Will Affect Businesses & Households in Pakistan: IMF

    The decline in remittances for economies such as Pakistan where remittance inflows represent more than 5% of GDP will imply significant hardship for many households and small businesses as their domestic economies are hit by the synchronized nature of the COVID-19 crisis. This has been stated in the latest report of the International Monetary Fund…

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  • ADB’s COVID-19 response reaches $9.3 billion to end July 2020

    The Asian Development Bank (ADB) committed US $9.3 billion in financial resources in the last six months since early February when ADB started its initial response to support its developing member countries and the private sector to address the impact of the coronavirus disease (COVID-19) pandemic. In addition, development partners committed $4.6 billion in co-financing,…

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  • World Bank Appoints Najy Benhassine as Pakistan’s Country Director

    Najy Benhassine has been appointed as the World Bank’s new Country Director for Pakistan, effective August 1. He succeeds Mr. Illango Patchamuthu, who completed his term on July 31. Mr. Benhassine most recently served as Regional Director for Equitable Growth, Finance, and Institutions in the Middle East and North Africa. Prior to this, he was…

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  • Pakistan Can See a Drop of 26.8% in Remittances in The Worst Case Scenario: ADB

    Pakistan could see a decline of 26.8 percent from baseline remittances under the worst-case scenario, says the Asian Development Bank (ADB). In its latest report, “COVID-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia”, ADB stated that total remittances to Asia were expected to drop between $31.4 billion (baseline scenario) and $54.3…

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  • Govt Initiates Several Infrastructure Projects in KP

    The Federal government had launched several road infrastructure projects in Khyber Pakhtunkhwa (KP) with special focus on less developed areas. An official of the National Highway Authority (NHA) told the state’s media agency that after the completion, the ongoing road infrastructure projects in the KP will not only open new vistas of opportunities for the…

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  • China to provide 38 more agricultural drones to Pakistan

    China will provide around 38 more agricultural drones to Pakistan in a few months to fight desert locust. According to a report of the China Economic Net, a leading Chinese company has also expressed willingness to set up an industrial unit in Pakistan to manufacture drones that can be used to protect crops and control…

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  • RCCI organizing country’s first Virtual Expo next month: Saboor Malik

    A delegation of Rawalpindi Chamber of Commerce and Industry (RCCI) led by its President Saboor Malik met Punjab Minister for Industries and Commerce Mian Aslam Iqbal in Lahore. They discussed smart lockdown and issued being faced by the industry during the meeting. The President RCCI said that the Chamber is organizing the country’s first Virtual…

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August 2020

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Yes, it is true that the Business Observer does what its name reveals, means covering the news from all the industries, which are putting their efforts into accelerating the economy of Pakistan. The website is the trustworthy business news website and its name is taken among those business websites of Pakistan.

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