Category: Business

PARIS: Even as warnings of climate catastrophe and calls for greener economies grow ever louder, the world is still spending hundreds of billions of dollars every year to subsidise the fossil fuels that are causing the planet to overheat. With mankind’s plan to avert runaway global warming this century badly off course, scrutiny is mounting […]

FAISALABAD: Value-added textile exporters on Friday said the rupee depreciation will increase the cost of doing business and affect the sector adversely. The rupee has devalued approximately 20.16 per cent against the US dollar from Rs123.6 to Rs149.07 in just 9 months of the PTI government. Talking to Dawn Central Chairman Pakistan Hosiery Manufacturers & […]

KARACHI: Amid reports that Al Futtaim is considering pulling back from the Renault project, the government departments concerned say that “nothing concrete has so far come from the Gulf and French-based companies.” A microblogging website had earlier claimed that “Renault has revoked Al-Futtaim’s license to build its manufacturing plant in Pakistan” following which Al Futtaim […]

The Pakistan Stock Exchange (PSX) on Friday witnessed bearish trend as KSE-100 index plunged by 804 points (2.43 percent) to close at 33,166 points. A total of 63,321,430 shares were traded, whereas the value of shares traded during the day stood at Rs 2.757 billion. Out of 305 companies, share prices of 32 companies recorded […]

The trade war with the United States will only make China stronger and will never bring the country to its knees, the Communist Party’s People’s Daily wrote in a front page commentary that evoked the patriotic spirit of past wars. The world’s two largest economies are locked in an increasingly acrimonious trade dispute that has […]

The value of US dollar against rupee on Wednesday touched an all-time high of Rs146.25 in the open market, DawnNewsTV reported. The greenback’s value increased by Rs2.25 to reach an all-time high amid speculations that the local currency will depreciate further. Earlier on Monday, the US dollar had gained Rs2 against the rupee in the open market […]

ISLAMABAD: The newly-appointed chairman of the Federal Board of Revenue (FBR), Shabbar Zaidi, has asked tax officers to seek his prior approval before the suspension of sales tax registration of taxpayers. After taking charge as FBR chairman on Friday, this is the second major directive of Mr Zaidi to all chief commissioners of Inland Revenue […]

ISLAMABAD: The government is expected to approve on Wednesday a plan for procurement of about 6.9 million tonnes of wheat in the public sector during 2019-20 and allow the sale of additional 150MW cheaper electricity from the national grid to K-Electric without settlement of old liabilities. A meeting of the Economic Coordination Committee (ECC) of […]

ISLAMABAD: Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh on Tuesday defended the bailout package that he negotiated with the Intern­ational Monetary Fund (IMF) saying it is in favour of Pakistan. “Those who are opposing the IMF programme are the ones who had already done the same,” Dr Shaikh said in response to a […]

After much deliberation, the government has announced its tax amnesty scheme — Asset Declaration Scheme — after it was approved by the cabinet on Tuesday. Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh briefed the media on the scheme. He was accompanied at the presser by Federal Board of Revenue (FBR) Chairman Syed […]