Category: Business

KARACHI: The stock market was on a rollercoaster ride for the second day amid investors’ hopes and despair over the monetary tightening. The KSE-100 index settled a step higher by 9.97 points (0.03 per cent) at 32,981.99. The index opened on a positive note and remained volatile throughout the session as investors continued to consider […]

ISLAMABAD: Clouds of uncertainty gathered around the Federal Board of Revenue (FBR) as talk continues to swirl in the capital that its chairman, Shabbar Zaidi, could be replaced in the coming days. Zaidi himself could be moved up the heirarchy, either to the position of Minister of State for Revenue that fell vacant after its […]

ISLAMABAD: The country’s services exports dipped by 4.64 per cent in May, Pakistan Bureau of Statistics (PBS) data showed on Tuesday. Services exports during the month dipped to $434.08 million compared to $455.19m during the same month last year. The fall in monthly exports come after recording modest gains in the preceding months. Data for […]

DUBAI: The United Arab Emirates’ state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its trading operations as it seeks to emulate the success of rival oil majors and bolster its regional influence. The company has splurged on hiring former employees of private-sector peers […]

KARACHI: Stock market presented a picture of volatility all through the day with the KSE-100 index closing with a minor gain of 13.67 points (0.04 per cent) at 32,972.02, which remained at 39-month low. Starting out on a desolate note, the index extended the earlier day’s declines and nose-dived to intraday low by 353 points […]

BRUSSELS: The European Union is bracing for either a no-deal Brexit or another delay if Boris Johnson becomes Britain’s prime minister next week with a pledge to renegotiate a deal the bloc says it will not reopen. The three-year Brexit crisis could be about to deepen as Johnson’s pledge to leave the EU “do or […]

PARIS: Finance officials from the Group of Seven rich democracies will weigh risks from new digital currencies and debate how to tax tech companies like Google and Amazon when they meet this week in the Paris suburb of Chantilly. Those two issues, raised by the impact of the digitalisation on the world economy, are at […]

The State Bank of Pakistan (SBP) raised its main policy rate by 100 basis points on Tuesday to 13.25 per cent, citing increased inflationary pressures and a likely near-term rise in prices from higher utility costs. SBP Governor Reza Baqir said the decision to raise rates took into account upside inflationary pressures and the impact […]

LAHORE/KARACHI: On the first business day after the nationwide traders’ strike, various chambers of commerce and industry associations gave a mixed response. Where all agreed that documentation of the economy is a worthwhile objective, some felt that the government should adopt a softer approach towards the concerns of the trader community whereas others denounced the […]

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Monday approved 13 development projects worth Rs335.61 billion, including revision of the cost of Dasu hydropower project. The approval was given during an Ecnec meeting chaired by Adviser to the Prime Minister on Finance and Revenue Dr Hafeez Sheikh. The meeting approved the foreign […]