Category: Business

ISLAMABAD: The two telecom operators — Telenor and Jazz — on Wednesday announced to pay the licence renewal fee. While Jazz will be paying around $291 million, Telenor Pakistan will voluntarily pay $224.6m saying that it is to “re­affirm its commitment to the country.” “In order to reaffirm its commitment to the country, Telenor Pakistan, […]

BERLIN: British Prime Minister Boris Johnson told German Chancellor Angela Merkel on Wednesday that the UK “cannot accept” the current terms of their Brexit deal to leave the European Union. “Clearly we cannot accept the current withdrawal agreement, arrangements which either divide the UK or lock us into the regulatory and trading arrangements of the […]

China Mobile Pakistan (CMPak, popularly known as Zong) on Thursday successfully conducted 5G trials in Pakistan, a press release issued by the company said. By doing so, Zong has become “the first and only operator to officially test 5G services in the country”, the statement added. “This success marks an important milestone in Pakistan’s telecom […]

The United States tariffs on China won’t fix the trade deficit, and neither will weakening the US dollar through interest rate cuts, the International Monetary Fund economists said on Wednesday. In unusually blunt language, the blog post seemed targeted straight at US President Donald Trump who has loudly and constantly demanded the Federal Reserve cut […]

The Asia-Pacific Group on Money Laundering (APG) reviewed Pakistan’s third Mutual Evaluation Report (MER) that detailed measures taken by the government to counter terror-financing and money laundering from February 2018 to October 2018, a press release by the finance ministry said on Wednesday. The MER was adopted by the APG — the regional affiliate of […]

Telecom giant Telenor Pakistan announced on Wednesday that it has offered to pay $224.6 million to the government “under protest” for licence renewal purposes. The licences, which Telenor and Jazz had acquired in 2004 through an auction at a cost of $291m or approximately Rs17 billion then, expired over two months ago on May 25. […]

ISLAMABAD: Regional tax offices have widened the scope of issuing tax notices to the owners of private schools and tuition centres over their failure to come into the tax roll and pay their due taxes despite having booming business in big cities. The notices have been issued to unregistered private schools and tuition centres by […]

KARACHI: The current account deficit (CAD) shrank by a massive 73 per cent in the first month of this fiscal year, reported the State Bank of Pakistan on Tuesday. The CAD plunged by 72.81pc to $579 million in July, as compared to $2.13 billion in same period of 2018-19. This was in line with the […]

ISLAMABAD: Comm­erce Adviser Abdul Razak Dawood on Tuesday said the government is focusing on boosting exports through tariff rationalisation to attrac investment. Undertaking institutional reforms, documentation of economy and easing of doing business regulations was the priority of the incumbent government, he said while meeting with the delegation of the business community. Dawood said that […]

ISLAMABAD: The accountability court of Islamabad has recalled arrest warrants for the chairman of a private bank in Pakistan, Nasser Abdulla Lootah, after the United Arab Emirates national turned approver against former president Asif Ali Zardari. The top businessman was one of the accused persons in the fake accounts case along with Faryal Talpur, Omni […]