Category: Business

KARACHI: Signs of panic are now appearing in foreign currency markets as the dollar touched Rs148 in open trading on Friday and the information minister announced that “a full-fledged operation against dollar hoarding and speculative currency trade” is going to be launched. Meanwhile, the finance minister issued a renewed assurance that the “rupee is in equilibrium” and “there is […]

KARACHI: A high-ranking official of the State Bank of Pakistan (SBP) created a stir on social media with remarks given to a regional newspaper, which quoted him saying “Pakistan will be out of grey list by September 2019”. The remarks were given to the UAE-based daily, Khaleej Times, which headlined them as “Pakistan to be […]

KARACHI: Criticising the government for its failure to handle the economy and inflation, senior leader of the Pakistan Muslim League- Nawaz (PML-N) Miftah Mohammad Ismail has said that his party will support every protest and movement against current economic conditions and growing unemployment. Speaking at a press conference on Friday, the former finance minister claimed […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday announced rules and procedures for the selection of audit cases under the new Audit Policy, 2018. The FBR notified that “in line with the earlier practice, this year for Audit Policy, 2018, the FBR would do a parametric selection.” The FBR plans to run data analytics […]

WASHINGTON: Presi­dent Donald Trump on Friday said talks with Beijing were making progress toward ending the trade war between the world’s two top economies, but he again stopped short of predicting success. “The China meeting was a big success,” Trump told reporters, discussing the latest round of shuttle diplomacy conducted this week in Washington. “I […]

LONDON: Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing Opec members to US antitrust lawsuits, three sources familiar with Saudi energy policy said. They said the option had been discussed internally by senior Saudi energy officials in recent months. Two of the sources […]

DINARD: British Foreign Secretary Jeremy Hunt on Friday said neither Britain nor other European Union member states wanted a no-deal Brexit and that economies in the bloc were not growing fast enough to stave off a recession in such an event. “A no-deal outcome is bad for the UK. It’s also very bad for the […]

ISLAMABAD: Adviser to the Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood on Friday said that the stage for the second phase of the China-Pakistan Economic Corridor (CPEC) was now set to expedite the industrial collaboration, which would help attract private investments and diversify the country’s exports. “We are now in the second […]

ISLAMABAD: The Cabinet Committee on Legislative Cases (CCLS) on Friday approved import of bio-pesticide ‘Gossy­plure’ to help eradicate the population of pink bollworm that attacks cotton crop. Punjab government and cotton growers had been urging for the bio-pesticide’s import which was barred due to some legal issues. The CCLS approved the import of Gossyplure as […]

Finance Minister Asad Umar on Friday ruled out a further devaluation of the rupee, which has lost about 25 per cent of its value over the past year, urging people to invest in the stock market and not waste money buying dollars. Since coming to power in August, much of the government’s focus has been […]