Category: Business

KARACHI: The spectacular rally for the first four days of the week that sent the KSE-100 index up by 3,121 points and 10.85 per cent ceased to a halt on Friday as bulls appeared to take a breather. The market opened in the positive but could not sustain the high levels and succumbed to profit […]

China announced on Friday it will hit United States imports worth $75 billion with new tariffs as retaliation for Washington’s planned tariff hikes, further intensifying the pair’s bruising trade war. The punitive tariffs of 5 to 10 per cent will apply to 5,078 items from the US, starting September 1 and December 15, China’s state […]

National Accountability Bureau (NAB) Chairman Justice retired Javed Iqbal has announced that the anti-corruption watchdog will not pursue cases pertaining to income tax or sales tax against members of the business community, a press release issued on Friday said. The NAB chairman added that ongoing such cases against businessmen will be sent to the Federal […]

ISLAMABAD: World Bank President David Malpass will visit Islamabad in the first week of November to finalise enhanced financial support for institutional reforms and growth agenda. The Ministry of Finance on Thursday said World Bank’s country director in Pakistan Patchamuthu Illangovan and his team called on Adviser to the Prime Minister on Finance Dr Abdul […]

Chinese technology giant Huawei said on Friday the impact of US trade restrictions on its business will be less than what it initially feared, though the curbs could push its smartphone unit’s revenue lower by about $10 billion this year. Huawei Technologies’ $100 billion business has been hit hard since mid-May after Washington put the world’s second-largest […]

ISLAMABAD: The government is introducing reforms in the Trade Development Authority of Pakistan (TDAP) to make it relevant to the country’s changing export base that has witnessed drastic changes over time. On Thursday, Commerce Adviser Razak Dawood chaired a meeting for the reorganisation of TDAP to better facilitate the country’s export sectors. It was focused […]

ISLAMABAD: Prime Minister Imran Khan on Thursday said the government is prioritising alternative and renewable energy to meet the country’s growing requirements. “The new energy policy focuses on promoting alternative and renewable sources,” the prime minister said while meeting a delegation of China Power Hub Generation Company (CPHGC), led by CEO Zhao Yonggang at the […]

The Pakistan Stock Exchange (PSX) on Thursday witnessed a bullish trend with the benchmark KSE-100 index gaining 912 points to close up 2.9 per cent. The benchmark index closed at 31,884 points after hovering in the green throughout the day on the back of rumors that “Pakistan might exit the FATF grey list“. The market had […]

ISLAMABAD: The Asia-Pacific Group — a regional affiliate of the Financial Action Task Force (FATF) — has adopted Pakistan’s third Mutual Evaluation Report (MER) on strengthening of anti-money laundering and countering financing terrorism (AML/CFT) safeguards and is expected to make public its assessment shortly. The Ministry of Finance on Wednesday said the 22nd Annual Meeting […]

ISLAMABAD: Concerned over a slower beginning of development programme and overall economic activities in the country, the government on Wednesday decided to relax procedures for release of development funds and improve utilisation of external financing to fast-track the execution of development projects particularly those relating to social sector. The decision to this effect was taken […]