Category: Business

The Asian Development Bank (ADB) will help the Punjab government to design comprehensive investment and public service delivery plans in preparation for upcoming urban development projects in seven districts of the province. The $15 million loan for ‘Punjab Urban Development Projects’ announced by the ADB on Thursday will finance the preparation of comprehensive master plans […]

ISLAMABAD: The Islamabad High Court (IHC) on Wednesday declared that if overloaded vehicles caused damage to highways and motorways, the loss will be recovered from the respective officials and government functionaries. The court gave the order while deciding a petition seeking implementation of axle load policy. The petition was filed by a private transport company […]

ISLAMABAD: The Federal Board of Revenue (FBR) has received nearly 40 per cent more income tax returns for the tax year 2019 compared to the preceding year ahead of the Jan 31 deadline. The board received 2.285 million tax returns until January 29 as against 1.635m returns filed in the tax year 2018. The last […]

KARACHI: Stocks plunged on Tuesday with the KSE-100 index recording a sizeable loss of 240.04 points (0.56 per cent) and settling at 42,299.19. The market presented a depressing picture, opening in the negative and sinking all the way to intraday low by 386 points without once lifting to the green. A trader pointed out that […]

ISLAMABAD: The Senate Standing Committee on Commerce on Tuesday approved the much-awaited Geographical Indications (GI) Bill which aims to protect commercial heritage of the country’s products. The Senate committee — led by its chairman Senator Mirza Muhammad Afridi — will now present the bill before the Upper House of the parliament for its consent. The […]

ISLAMABAD: Prime Minister Imran Khan on Tuesday said the ongoing development projects under the China-Pakistan Economic Corridor (CPEC) should be completed on a fast-track basis and directed to give final shape to the consultation process of the future plans on priority. Lauding the time-tested friendship with the northern neighbour, he said China had always supported […]

ISLAMABAD: The Economic Coor­dination Committee (ECC) is expected to take up approval of up to 15 per cent increase in gas tariff on Wednesday to fulfil its commitments to the International Monetary Fund. The meeting, to be presided over by PM’s Finance Adviser Abdul Hafeez Shaikh will also consider the establishment of a trust fund […]

LONDON: Global stocks and oil plunged on Monday as panicked investors fled risky assets for safer bets gold, bonds, the dollar and the yen, after China warned that a deadly new coronavirus was spreading fast. On equity markets luxury goods makers and airlines suffered particularly as Chinese tourist spending is a key factor for them. […]

ISLAMABAD: The power distribution companies (Discos) of Wapda have started filing fresh petitions for increase in tariff under the newly introduced two-part tariff mechanism to pass on full electricity costs to consumers in a timely manner. Under the amended Nepra act (Regulation of Generation, Transmission and Distribution of Electric Power Act), the power companies are […]

KARACHI: Careem, the Dubai-headquartered ride-hailing company, has reportedly laid off around 150 employees just weeks after its $3.1 billion acquisition by Uber was officially closed. The news was first reported by MENAbytes and has been confirmed with sources inside the company. An email sent out by Careem CEO Mudassir Sheikha to his employees last week, available with Dawn, says the […]