Category: Business

BEIJING: Stepping up Beijing’s propaganda offensive in the tariffs standoff with Washington, Chinese state media on Friday accused the US of seeking to “colonise global business” with moves against Huawei and other Chinese technology companies. There was no word from either side on progress toward resuming talks between the world’s two largest economies, though President […]

KARACHI: The four-session winning streak of the local equity market extended into the last day of the week with the KSE-100 index gaining 122.47 points (0.34 per cent) and close at 35,703.81. But unlike the past four days, the bulls appeared to have tired out as the Index was volatile and moved between the intra-day […]

Global stocks were rebounding on Friday following Thursday’s sell-off, with markets hoping for an easing in the US-China trade dispute and after British Prime Minister Theresa May said she plans to resign as of June 7. Investors appear to hope May’s pending resignation could unblock the political stalemate over Brexit. Some analysts are warning it could simply mean another […]

ISLAMABAD: According to a detailed revenue plan drawn up by the tax bureaucracy, and shared with the International Monetary Fund in the last round of meetings, the government is aiming to introduce new tax measures equal to Rs775 billion in the forthcoming budget for the fiscal year 2019-20. The revenue plan has been seen by Dawn, […]

ISLAMABAD: Fixing the budget announcement date on June 11, the government on Thursday approved a consolidated development portfolio of Rs1.837 trillion, targeting an economic growth rate of four per cent for the next fiscal year. A meeting of the Annual Planning Coordination Committee (APCC) presided over by Minister for Planning and Development Mukhdum Khusro Bakhtyar […]

KARACHI: Manufacturers of two and three-wheelers and auto loaders jacked up prices in the range of Rs500-Rs10,000 citing rising raw material prices in the international market and recent bouts of currency devaluation. Crown Motorcycle, manufacturer of bikes and loaders, raised prices by Rs2,000-5,000 on Thursday. In addition, rickshaw and motorcycle manufacturer Road Prince jacked up […]

WASHINGTON: The IMF sounded the alarm on Thursday about the escalating US-China trade war, warning it will “jeopardise” 2019 global growth, undermine confidence and raise prices for consumers. Gita Gopinath, the International Monetary Fund’s chief economist, directly refuted President Donald Trump’s claim that tariffs are paid by China and provide a windfall for the US […]

KARACHI: The stunning victory at the stock market extended into the fourth day where the KSE-100 index cumulatively gained 2,414 points (7.13 per cent). On Thursday, the KSE-100 index rose 944.20 points (2.73pc) and closed at 35,581.34, taking the last two sessions’ collective gains at 6.3pc, which marked the highest two-day gains in a decade. […]

KARACHI: In a bid to safeguard Al Futtaim-Renault investment of $165 million, Adviser to Prime Minister on Commerce and Industry Abdul Razak Dawood on Thursday assured full cooperation and support to Al Futtaim in resolving various issues. Faisalabad Industrial Estate Development and Management Company (FIEDMC) arranged the meetings in Islamabad on Thursday to facilitate Al […]

Mohammad Younus Dagha was removed as the secretary finance on Thursday, a notification issued by the Cabinet Secretariat/Establishment Division said. A separate notification announced the transfer of Naveed Kamran Baloch, who was posted as cabinet division secretary, to the role of finance secretary. Baloch has previously served as Khyber Pakhtunkhawa Chief Secretary. He joined the […]