Category: Business

Facebook is buying a stake in Indian e-commerce start-up Meesho, Ajit Mohan, the head of the United States tech giant’s Indian business said on Thursday, looking to deepen its reach in one of the world’s biggest internet markets. Meesho, a digital platform on which re-sellers of everything from jewellery to mobile phones reach prospective customers […]

Oil prices jumped as much as 4 per cent on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes. The Marshall Islands-flagged Front Altair carrying naphtha and the Panama-flagged Kokuka Courageous carrying methanol have been evacuated and […]

The value of the US dollar against the rupee continued to strengthen, with the greenback reaching Rs153 in the open market on Thursday afternoon. The US dollar climbed Re1 each in the interbank and the open market. Its value strengthened to Rs152.95 in the interbank market. Currency dealers held the financial year end responsible for […]

Uber Technologies Inc has launched a new ride-hailing service in India’s tech capital Bengaluru that will use miniature gas-powered cars called “Qute” to win over commuters stressed out by the sprawling city’s heavily-congested streets. Uber’s first market in India, Bengaluru has struggled to hold onto its nickname as the “Garden City” over the past two […]

China’s Ambassador to London Liu Xiaoming warned the British government that if Huawei is blocked from developing 5G networks then it will hurt Chinese trade and investment relationship with the United Kingdom (UK). “It will send a very bad message not only to Huawei but also to Chinese businesses,” Ambassador Liu Xiaoming told the BBC. He added […]

ISLAMABAD: The government has proposed several amendments to the income tax laws to tighten the noose around offshore tax evaders. Under the proposed amendments, tax evasion via offshore accounts will be deemed as a punishable crime and those found guilty will either have to pay hefty fines or face jail time of up to seven […]

KARACHI: Amid a good wheat crop, consumers continue to take a costly ride as millers in less than three months made 5th price hike in flour No. 2.5 rate to Rs39 per kg from Rs37.50 prevailing ahead of Eid. Similarly, the rates of fine and super fine flour have been jacked up to Rs43 per […]

Uber Technologies said it will use Australia’s second-largest city, Melbourne, as the first international test site for the group’s planned flying taxi service. The United States ride sharing firm had previously chosen Dubai as the first test site outside the US for its UberAIR service but reopened its request for proposals last month after launch […]

ISLAMABAD: the incumbent government plans to increase foreign borrowing for budgetary support by threefold in the next fiscal year compared to the proposals in the budget 2018-19. The budget document released on Tuesday announced that the government is likely to obtain foreign loans worth Rs3.003 trillion compared to Rs1.087tr during the final budget presented by […]

Stocks rose amid mixed reviews by the business community on Wednesday a day after Prime Minister Imran Khan’s government presented its first annual budget. The benchmark KSE-100 index of the Pakistan Stock Exchange rose 278.08 points, or 0.8 per cent, to close at 34,939.16 points led by gains in materials, energy and financial stocks. Engro, […]