Browsing: Business

Foodpanda introduces the “Panda Mom Care Circle,” prioritizing the well-being of its team with extended maternity leave, flexible work options, and dedicated lactation rooms, showcasing a commitment beyond food delivery to create a supportive workplace for new mothers. The initiative not only celebrates parenthood with care packages and daycare facilities but also addresses emotional challenges with compassionate leave, setting a compassionate standard in the fast-paced food delivery industry.

The Pakistani rupee strengthened against the US Dollar for the third day, closing at 281.4 after gaining 27 paisas, while the State Bank of Pakistan reported a notable weekly increase of over $464 million in foreign exchange reserves. This positive trend follows a 13-day winning streak pause earlier this week.

In the initial half of the fiscal year, our nation experienced a substantial 64% surge in revenue from agricultural and food product exports, resulting in a noteworthy reduction in the trade deficit. Key contributors to this growth included a nearly doubled income from rice exports, along with significant increases in maize and sesame seeds exports.

Pakistan’s travel services sector showed a commendable 3.25% growth, reaching $225.083 million in the first four months of the fiscal year 2023-24, reflecting resilience and expansion. Notable spikes in health and education-related expenditures contribute to this positive trend, signaling increased global participation and economic development.

JDW Sugar Mills Ltd. is set to launch a state-of-the-art Ethanol/Distillery Project, utilizing in-house sugar molasses for export-quality ethanol production, with an expected daily capacity of 200,000 to 230,000 liters and a planned Commercial Operation Date by January 2025.

The Pakistani rupee strengthened against the US Dollar, closing at 281.72, up 17 paisas, after a brief intraday dip. Forecasts indicate potential depreciation to 325 by December 2024 amid economic uncertainties.

Pakistan’s IT sector thrives, earning $892.972 million in the initial four months of fiscal year 2023-24, reflecting a 4.45% increase from the previous year. Notable growth in computer services and software consultancy contributes to the sector’s dynamic performance.

Revolutionizing grocery shopping, Sauda Store in Pakistan introduces a Buy Now, Pay Later approach, integrating with corporate payroll systems for employee perks, and plans expansion with its extensive product range. The user-centric BNPL model promises stress-free shopping and financial ease, marking a unique innovation in the market.

Pakistan intensifies efforts against tax non-filers, threatening utility and mobile disconnections to broaden the tax base, while exceeding revenue targets and aiming for a positive shift towards higher direct taxes. The move aligns with IMF requirements for a crucial loan tranche, emphasizing the country’s commitment to fiscal responsibility.

Pakistan’s trade deficit shrunk by 34% in H1 FY24, reaching $11.148 billion, driven by a 5% boost in exports ($14.981 billion) and a 16% drop in imports ($26.129 billion). December 2023 alone witnessed a notable 13% monthly and 40% yearly reduction in the deficit, signaling positive trade balance trends.