Category: Business

THE Asian Development Bank (ADB) on Thursday agreed to give $1bn budgetary support to Pakistan soon after a green signal from the International Monetary Fund (IMF) as the government had promised to have a majority transformation of its high debts having serious socio-economic and financial repercussions. Speaking at a news conference at the 52nd Annual […]

ISLAMABAD: The country’s inflation slightly decelerated to 8.8 per cent in April from a month ago, owing to a slight decline in prices of essential kitchen items, the Pakistan Bureau of Statistics reported on Thursday. In March, the consumer price index had surged to 9.4pc — highest level in five years — on account of […]

KARACHI: Sindh has asked the federal government to ensure that whatever commitments it has given to the International Monetary Fund (IMF) regarding collection of sales tax must comply with the Constitution, which gives the provinces the right to collect sales tax on services. Sindh Chief Minister Syed Murad Ali Shah demanded this in a letter […]

ISLAMABAD: Pakistan Stock Exchange (PSX) has issued a notice warning stockbrokers against violation of short-selling rules but brokers fear that the move will likely reduce volumes in the market. The notice issued by the PSX directed all trading right entitlement certificate (TREC) holders to comply with clause 13.5.2 of PSX Regulations relating to execution of […]

WASHINGTON: Sec­retary of State Mike Pompeo asked corporate America on Tues­day to think twice when doing business in Chi­na’s Xinjiang region, where he appeared to liken the scale of mass incarceration of Muslims to Nazi abuses. Speaking to a business group, Pompeo stopped short of asking firms not to work with China but said he […]

ISLAMABAD: The Ministry of National Health Services (NHS) has defended the government for accepting a donation from a tobacco company after severe criticism on social media. In a statement issued on Wednesday, Special Assistant to the Prime Minister on NHS Dr Zafar Mirza said the government was “firmly committed to its anti-tobacco police based on […]

KARACHI: Pakistan needs a lax regulatory environment for startups and investors alike, in the form of simpler business structures and tax breaks for the former and incentives for the latter, said Invest2Innovate Ventures Managing Partner Misbah Naqvi. She was addressing the panel discussion ‘Fund raising – the Venture Capital Lens’ at the two-day Momentum Tech […]

KUWAIT CITY: Kuwait on Wednesday inaugurated one of the world’s longest causeways, linking the oil-rich Gulf state’s capital to an uninhabited border region set to become a major free trade hub. The 36-kilometre (22-mile) bridge connects Kuwait City to the northern desert area of Subbiya, where Kuwait aims to create the “Silk City” project linking […]

ISLAMABAD: The Federal Board of Revenue (FBR) collections during the first 10 months of the fiscal year showed marginal growth of three per cent posting a shortfall of more than Rs356 billion during July-April period. The total revenue collection was recorded at Rs2.981 trillion during the first 10 months of this fiscal year as against […]

ISLAMABAD: Health advocates on Tuesday were shocked after they came to know that Prime Minister Imran Khan not only held a meeting with the representative of an international tobacco company, but also received a cheque for Rs5 million from him as a donation for the construction of dams in the country. It is a clear […]