Category: Business

KARACHI: Hum Net­work Ltd’s Extraordinary General Body meeting held on August 22 decided to postpone the elections to its board of directors in compliance with order from the Sindh High Court. The network’s management has informed the stock exchange that it has reason to believe it is under a hostile takeover by the JS Group, which has […]

THE state of activity in the refining sector is an interesting barometer for the things to come in the crude sector. After all, we use products and not crude. And crude is converted into the required products by refineries. The rate of conversion thus remains a ‘good’ indicator of crude demand. And today, the refining […]

KARACHI: The stock market snapped the eight-week long gaining streak in the outgoing five sessions of trading as the KSE-100 index pulled back by 669 points (1.7 per cent) and finished at 39,621. Observers said the correction was due after the index had rallied by a massive 46pc from its five-month low in March. In […]

ISLAMABAD: The government has decided to release pending income tax refunds, the Federal Board of Revenue (FBR) announced on Saturday. All taxpayers are requested to contact their respective Regional Tax Office (RTO) and fulfill the legal requirements in the regard, the FBR said in a statement. The decision by the government will facilitate business community […]

BERKELEY: An appeals court has allowed ride-hailing giants Uber and Lyft to continue treating their drivers as independent contractors in California while an appeal works its way through the court. Both companies had threatened to shut down if a ruling went into effect on Friday morning that would have forced them to treat all their […]

Every year the world goes gaga over the launch of latest generation mobile phones and laptops as their specifications trigger debates among ardent fans and tech geeks. Meanwhile a related business — that of electronics repair, which in itself is quite sizable — gets little attention. But for a local startup, that hasn’t been a […]

ISLAMABAD: A Senate panel was informed on Tuesday that latest memorandums of understanding (MOU) with power producers did not include circular debt. The committee was also informed that K-Electric had caused a loss of Rs144 billion to the federal government and is holding back Rs44bn of consumers’ money through stay orders. This was the crux […]

ISLAMABAD: Federal Minister for Science and Technology Fawad Chaudhry on Tuesday announced that the government had agreed to allow export of N95 and surgical masks. According to the Ministry of Science and Technology, orders worth $100 million for export of personal protective equipment (PPE) made in Pakistan have been received from around the world, particularly […]

KARACHI: The State Bank of Pakistan (SBP) on Tuesday increased concessional financing limit for women entrepreneurs from Rs1.5 million to Rs5m in a step towards financial inclusion. “To encourage women participation in the economy, the SBP has enhanced the financing limit under its Refinance and Credit Guarantee Scheme for Women Entrepreneurs from Rs1.5m to Rs5m,” […]

• Decides to launch crackdown on hoarders of sugar, wheat flour• Shibli says shipments of imported sugar, wheat due next month ISLAMABAD: The federal cabinet on Tuesday allowed parliamentarians to become members of the boards of government departments, authorities and commissions provided they do not avail any perks and privileges in the process. The cabinet […]