Category: Business

KARACHI: Outflow of profits and dividends from the country fell by 25 per cent, dropping by over $560 million during the first 11 months of the current fiscal FY19. The State Bank of Pakistan on Tuesday reported that the outflow profits during July-May clocked in at $1.673 billion, from $2.237bn in the same period of […]

KARACHI: The United Kingdom has increased its funding support to Pakistan from £400 million pounds to £1 billion and this is an important statement of our confidence and commitment for trade with Pakistan, said Simon Penney, Her Majesty’s Trade Commissioner (HMTC) for the Middle East, Afghanistan and Pakistan. The words reiterate a commitment made between […]

KARACHI: Amid stability in rupee-dollar parity, a massive jump in international gold prices on Tuesday pushed up local yellow metal rates to an all-time high of Rs80,500 per tola and Rs69,016 per 10 grams, up Rs1,300 and Rs1,115 over Monday’s rate. International gold price swelled by $21 per ounce to $1,429 which triggered a fresh […]

KARACHI: Bears ran amok for the second day at the stock market where the KSE-100 index extended losses by 281.33 points (0.82 per cent) and closed at 34,190.62 on Tuesday. In the absence of positive triggers, worries over several issues weighed on the investors’ mind. Major index heavyweight sectors which included banks, exploration and production, […]

ISLAMABAD: The Islam­abad Stock Exchange REIT Management Company (ISE REIT) on Tuesday demanded the establishment of regulatory authorities at federal and provincial levels to monitor real estate sector and encourage construction activities across the country. Addressing the press conference here, ISE REIT Board of Directors Chairman Zahid Latif Khan highlighted the issues faced by the […]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has taken several measures to revamp the regulatory framework governing mutual funds to ensure ease of doing business, the regulator said in a press release on Tuesday. The SECP said the measures have been taken after consultations with the Mutual Fund Association of Pakistan which includes […]

The Petroleum Division has sought an increase of up to 200 per cent in the prices of gas for domestic consumers with effect from July 1, 2019. The summary prepared by the division based on the decision of the Oil and Gas Regulatory Authority (Ogra) has been sent to the Economic Coordination Committee (ECC), which […]

ISLAMABAD: Prime Minister Imran Khan on Monday approved the constitution of a steering committee on Pakistan Regulatory Modernisation Initiative (PRMI) to help devise a regulatory framework for simplifying the process of business registration. The government said that the high-powered body will support the business community to start new ventures and attract investments by improving the […]

ISLAMABAD: The Senate on Monday adopted all of the 61 recommendations of its standing committee on finance and revenue, asking the National Assembly to delete the much-talked Asset Declaration Scheme, the Stamp Act of 1899 and West Pakistan Motor Vehicles Taxation Act 1958 from the Finance Bill 2019-20. The upper house praised the committee headed […]

Qatar is making $3 billion dollars worth of new investments in Pakistan, in the form of deposits and direct investments, said Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Monday. The economic partnership between Qatar and Pakistan will reach $9 billion, Qatar News Agency quoted foreign minister Sheikh Mohammed bin Abdulrahman Al Thani […]