Category: Business

LONDON: China’s decision to let its yuan plunge through a previously sacrosanct level means a tit-for-tat trade conflict could morph into a currency war, injecting volatility into long-dormant foreign exchanges and piling pressure on world markets. Beijing on Monday allowed the yuan to breach the 7 per dollar level for the first time in 11 […]

KARACHI: The government seeks to raise Rs6.4 trillion through auction of treasury bills in the next three months in addition to lifting Rs300 billion through Pakistan Investment Bonds (PIBs). The State Bank of Pakistan (SBP) released the auction calendar for both the T-bills and PIBs auction on Monday announcing its plan to raise Rs6.4tr to […]

ISLAMABAD: Prime Minister Imran Khan on Monday directed authorities concerned to expedite the efforts for revival of Pakistan Steel Mills (PSM). Chairing a meeting to discuss the situation of country’s biggest steel mill, the prime minister said, “Saving and restoring PSM is the top most priority of the government.” PM Khan was briefed about the […]

The Federal Board of Revenue (FBR) on Friday notified a week-long extension in the filing of income tax returns for the financial year 2017-18. Previously, the last date to file the statement was today (August 2). With the extension, the facility will be available for filers to avail until August 9. “The Federal Board of […]

ISLAMABAD: Inflation has entered double digits in the first month of the new fiscal year, the biggest increase in five years and nine months. Inflation, measured by the Consumer Price Index (CPI), rose to 10.34 per cent in July this year from 8.9pc the preceding month, the Pakistan Bureau of Statistics said on Thursday. During […]

China’s yuan fell on Friday to its lowest level this year against the dollar following United States President Donald Trump’s threat of new tariffs on Chinese goods, coming close to breaking the politically sensitive level of seven to the US currency. The yuan tumbled to 6.9520 to the dollar, its lowest level since December, but […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday notified three schemes including simplified tax regime for traders, fixed tax regime for small shopkeepers and issuance of business licences to bring the undocumented sectors under the tax net. The schemes are part of government’s documentation drive to bring small businesses in the tax net. Despite […]

KARACHI: The State Bank of Pakistan (SBP) revised the Net Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) series using the updated trade weights and new countries, the central bank said in a press release issued on Thursday. The SBP updated the series by using extensive dataset provided by the International Monetary Fund […]

ISLAMABAD: A Senate panel on Thursday asked the National Electric Power Regulatory Authority (Nepra) to collect all the relevant data from the Independent Power Producers (IPPs), compare with its own record and conduct an analysis of the year-wise details of their accounting profits within 10 days and submit a report. The three-member sub-committee of the […]

The federal government on Wednesday increased the prices of all petroleum products for the month of August amid a slight reduction in the international crude price, sources told DawnNewsTV. The sources said that the government approved all the recommendations of the Oil and Gas Regulatory Authority (Ogra) for the current month. In the latest development, the government increased […]