Tag: Business

Textile exports to surge all-time high as rivals lose orders to Pakistan

Pakistan’s textile exports are poised to surge 40% from last year to a record $21 billion in the 12 months ending June, as the country gained an edge over South Asian rivals during pandemic. According to Abdul Razak Dawood, commerce adviser to PM Imran Khan, the figure would expand to $26 billion in the next fiscal year, surpassing the nation’s total exports last year.

Malaysian PM proposes common East Asia currency for trading

At the Future of Asia forum in Tokyo, Malaysia’s PM Mohamad Mahathir proposed that East Asia should consider a common regional trading currency based on gold to promote commerce and stability, and free the region from relying on dollar transactions. He emphasised that this currency would be used for regional trade only and would not replace domestic currencies.