United States authorities are in the “advanced” stages of a criminal probe that could result in an indictment of Chinese technology giant Huawei, a report said on Wednesday. The Wall Street Journal, citing anonymous sources, said the Department of Justice is looking into allegations of theft of trade secrets from Huawei’s US business partners, including a T-Mobile […]
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LONDON: Britain’s blue chip stocks fell on Wednesday as a stronger pound lured investors toward cheap domestic companies and away from exporters after Prime Minister Theresa May’s heavy Brexit defeat, while weak results weighed on Pearson. The top share index ended down 0.5 per cent at 6,862 points, lagging European peers as sterling hit its […]
CLICK HERE TO READ MOREKARACHI: The foreign direct investment (FDI) jumped by 17 per cent during December 2018, according to latest data released by the State Bank of Pakistan (SBP) on Wednesday. The FDI increased to $319 million during December from $272.8m in the same month last year. Higher inflows during the month improved overall six-month FDI figures since […]
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Former Nissan boss Carlos Ghosn will stay behind bars in Japan for the foreseeable future after a Tokyo court quashed his appeal for bail as he faces charges on three counts of financial misconduct. Since his stunning arrest on November 19, 2018 the auto tycoon has languished in a Tokyo detention centre, facing questioning over allegations he […]
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ISLAMABAD: The government has agreed to abolish 0.02 per cent advance tax on sale and purchase of shares in the upcoming mini-budget. It was a major demand of the stock market players. The Ministry of Finance in its summary has suggested that Section 65C of the Income Tax Ordinance (ITO) allows incentives for listing by […]
CLICK HERE TO READ MOREKARACHI: Bulls dominated the stock market on Tuesday pushing the KSE-100 index up by 201.63 points (0.5 per cent). The intraday movement was relatively restricted as investors await economic clarity on budgetary front. The index closed at 39,615 after hitting an intraday high of 299 points. Positive investor sentiment was driven by anticipation of hydrocarbon […]
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ISLAMABAD: Federal Planning and Statistics Minister Khusro Bakhtyar has on Tueday directed Pakistan Bureau of Statistics (PBS) to start the process for appointing a new chief statistician as the post has been lying vacant for the last one year. The minister was chairing the 16th meeting of Pakistan Bureau of Statistics (PBS), where he was […]
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ISLAMABAD: The government on Tuesday ordered immediate clearance of about Rs36 billion refund claims of exporters and allowed tax and duty-free import of cotton in addition to mandating the payment of duties and taxes on import of vehicles in foreign exchange. The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of […]
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ISLAMABAD: China and Pakistan agreed on Tuesday to make 2019 the ‘year of industrial, socio-economic and agriculture cooperation’ as Beijing promised to despatch a series of business delegations over the next two months to move forward on at least four special industrial zones during the year. As a follow up to the recently concluded Joint […]
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ISLAMABAD: Pakistan International Airlines (PIA) will submit a five-year ‘Strategic Business Plan 2019-2023’ to the government by March. Addressing a press conference on Tuesday, PIA CEO Air Marshal Arshad Malik said the plan, currently being developed, consists of cost-cutting and revenue generation through detailed analysis of the market, right sizing operations, work centre, flights and […]
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