US President Donald Trump announced plans Thursday for sweeping “reciprocal tariffs” hitting both allies and competitors, in a dramatic escalation of an international trade war that economists warn could fuel inflation at home. Speaking in the Oval Office, Trump said he had decided to impose the reciprocal duties, telling reporters that US allies were often “worse than our enemies” on trade iss
Nissan and Honda ended merger talks to forge a $60 billion car company on Thursday, pitching Nissan deeper into uncertainty and highlighting the pressure on legacy automakers from Chinese rivals upending the industry. The talks between Honda, Japan’s second-largest automaker, and Nissan, its third, were announced in December but were soon strained by disagreements, including over the balanc
Startling revelations continued to unfold on Thursday before a Senate panel that confirmed more than Rs110 billion of fraud and money laundering in the garb of solar imports by more than 80 companies, some of which were found to be dummy entities. The sub-committee of the Senate Standing Committee on Finance, led by Senator Mohsin Aziz, vowed to continue its investigation into the scandal and h
Pakistan Stock Exchange (PSX) on Wednesday experienced volatile trading as the benchmark KSE-100 index see-sawed throughout the day and closed slightly lower by 85 points following the latest MSCI market review. The bourse faced headwinds in the face of a series of challenging factors. Foreign financing outflow weighed on investor sentiment while uncertainty surrounding the Tax Amendment Bill 2
Federal Finance Minister Muhammad Aurangzeb has emphasised that the government has achieved macroeconomic stability over the course of 12 months and now it is working on critical reforms. He expressed these views while addressing the Insure Impact Conference, held under the aegis of the Securities and Exchange Commission of Pakistan (SECP), via Zoom on Wednesday. Aurangzeb noted that Prime M