Category: Business

Google appears to have misused its dominant position in India and reduced the ability of device manufacturers to opt for alternate versions of its Android mobile operating system, Indian officials found before ordering a wider probe in an antitrust case. A 14-page order from the Competition Commission of India (CCI), reviewed by Reuters this week, found Google’s […]

The National Assembly accorded formal approval to the federal budget for fiscal 2019-20 late Friday evening, with the coalition and its allies comfortably defeating the combined opposition’s bid to block the passage of the Finance Bill 2019-20. The total outlay of the budget is Rs7.022 trillion, focusing on fiscal consolidation, revenue mobilisation, austerity measures and […]

ISLAMABAD: Minister of State for Revenue Hammad Azhar on Thursday explained that of the total Rs1.5 trillion increase in tax target for the next fiscal year, the government has introduced additional taxes worth Rs516 billion. The remaining amount will be collected through withdrawal of subsidies, rationalisation of exemptions and revival of taxes that were not […]

Apple’s longtime design chief Jony Ive, who played a key role in the development of the iPhone and other iconic products, is leaving the tech giant to set up his own firm, Apple said on Thursday. Ive will depart later this year “to form an independent design company which will count Apple among its primary […]

ISLAMABAD: The Eco­nomic Coordination Com­mittee (ECC) of the Cabinet on Wednesday approved in principle up to 191 per cent increase in gas price and allowed signing of an agreement with Saudi Arabia for formal start of $270 million monthly oil imports on deferred payments. The ECC meeting, presided over by Finance Minister Dr Abdul Hafeez […]

Prime Minister Imran Khan on Thursday announced his intent to launch a special campaign targeted at ensuring that state departments improve their efficiency in controlling prices. The announcement came via a statement released by the Prime Minister’s Office, which also outlined a strategy to implement price controls. The nine-point strategy, quoted verbatim, is given as […]

ISLAMABAD: The Pakistan Tehreek-i-Insaf (PTI) continues to maintain its numerical strength in the National Assembly after 10 months in power, as the lower house of parliament on Wednesday conveniently rejected the cut motions of the opposition parties with their main leadership preferring the multi-party conference to the crucial vote. While Prime Minister Imran Khan attended […]

WASHINGTON: The United States has not put any specific conditionalities on a $6 billion aid package the International Monetary Fund (IMF) is finalising for Pakistan, according to the country’s envoy Asad Majeed Khan. At a recent congressional hearing in Washington, a senior US official also ruled out the possibility of blocking the IMF loan until […]

KARACHI: The State Bank of Pakistan (SBP) on Wednesday promulgated Assets Declaration Ordinance 2019 to facilitate voluntary declaration of undisclosed assets. The ordinance has been introduced with a view to provide for voluntary declaration of undisclosed assets, sales and expenditures, for the purposes of allowing the non-documented economy’s inclusion in the taxation system and encouraging […]

ISLAMABAD: Growers on Wednesday lauded the government’s decision of abolishing Rs300 additional tax on tobacco crop and asked the government to impose higher taxation on the multinational companies that were making huge profits. The speakers also asked the authorities to play their role for restoration of workers terminated by the multinational tobacco companies. Addressing a […]