Category: Business

ISLAMABAD: Moody’s Investors Service on Tuesday placed on review for downgrade both local and foreign currency deposits highlighting the government’s weakening capacity to support banks in case of need. In a statement, the New York-based rating agency said it placed the B3 long-term local-currency deposit ratings of the Allied Bank Ltd (ABL), Habib Bank Ltd. […]

ISLAMABAD: Rejecting the constitution of the 10th National Finance Com­mission (NFC), the Pakistan Peoples Party called upon the government on Sunday to immediately withdraw its notification. Dr Nafisa Shah, the PPP’s information secretary, made the appeal while speaking at a news conference at the party’s media office. Palwasha Khan and senator Rubina Khalid accompanied her. […]

ISLAMABAD: Federal Minister for Planning, Development & Special Initiatives Asad Umar has assured newspaper sellers that the government will play its role for pulling them out of the financial crisis in this critical time. The minister said this while talking to a delegation of the All Pakistan Akhbar Farosh Federation headed by its secretary general […]

ISLAMABAD: Amid disbursement of Rs1.3 billion by the finance ministry as partial payment of retirement dues to former employees of Pakistan Steel Mills, a group of suppliers, dealers, contractors and pensioners of the PSM have demanded constitution of a committee to investigate ‘deliberate destruction’ of the mills. A senior government official confirmed to Dawn “Rs1.3bn […]

ISLAMABAD: Amid tight demand-supply conditions of high-speed diesel during the wheat harvesting season, the government has asked the oil marketing companies and refineries to beef up supplies of major transport fuels ahead of Eidul Fitr. In an advisory issued on the weekend, the petroleum division directed “all OMCs to enhance their logistics movement from Karachi […]

European stock markets rose on Monday and oil prices climbed to their highest in more than a month as a loosening of coronavirus shutdowns boosted market sentiment, even as the deadly outbreak has yet to be fully contained. Warm weather is enticing much of the world to emerge from coronavirus lockdowns as centres of the […]

KARACHI: Hysab Kytab, a mobile app aimed to help people stay within budget and spend and live better by managing their finances better, organised a webinar on the topic of Covid-19 and its impact on consumer spending behaviour on Thursday. The world has changed a lot. From a 66 per cent decline in the amount […]

ISLAMABAD/KARACHI: Adviser to the Prime Minister on Commerce Razak Dawood on Thursday appeared before an inquiry commission investigating a sugar scam and recorded his statement on the decisions taken by the Sugar Advisory Board regarding export of the commodity. The commission had also summoned Sindh Chief Minister Syed Murad Ali Shah, but he refused to […]

ISLAMABAD: The proposals firmed up by the tax authorities for making part of next year’s finance bill do not represent the vision of the government and need to be simplified and kept fewer than before to ensure ease of doing business and reduce compliance costs. This was a clear message given by Economic Adviser Dr […]

NEW DELHI: To expand the drug’s access, Gilead Sciences said this week it had signed non-exclusive licensing pacts with five generic drug-makers based in India and Pakistan, allowing them to make and sell remdesivir for 127 countries. But health access groups claim the pacts mean cheaper forms of the drug may not become available in […]