Category: Business

KARACHI: Amid strained bilateral relations between New Delhi and Islamabad, the trade between the two countries continued to suffer, but still mostly skewed in India’s favour in the first half of 2019-20. The latest data issued by the State Bank of Pakistan shows that bilateral trade volume plunged in the first half of this fiscal […]

DAVOS: Saudi Arabia will pump the proceeds from last month’s listing of oil giant Saudi Aramco into the local economy over several years, including building up the domestic defence industry amid tensions with Iran, its finance minister said on Tuesday. Mohammed al-Jadaan told Reuters there were “serious efforts” to reduce antagonism between Washington and Tehran after […]

ISLAMABAD: In his first public appearance since returning from a leave over health issues, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi laid emphasis on documentation measures, saying money whitening channels continued to flourish despite the government’s efforts to shut them down. Mr Zaidi, who was one of the speakers at the All Pakistan Chambers […]

ISLAMABAD: With no business plan of its own, the cash-starved Pakistan Television Corporation (PTV) is seeking to pass on Rs20 billion additional cost of its operations to the country’s electricity consumers already overburdened by up to 40 per cent increase in their power tariff over the past 18 months. The PTV board of directors, mostly […]

LAHORE: The government’s efforts for an across-the-board reduction in urea prices could face resistance from some manufacturers as the impact of cuts in Gas Infrastructure Development Cess (GIDC) on industry’s cost of production will vary from company to company. The Economic Coordination Committee (ECC) on Monday slashed the GIDC on fertiliser sector by almost 99 […]

News that a new virus that has afflicted hundreds of people in central China can spread between humans has rattled financial markets and raised concerns it might wallop the economy just as it might be regaining momentum. Health authorities across Asia have been stepping up surveillance and other precautions to prevent a repeat of the […]

KARACHI: The first day of change in circuit breakers to 5.50 per cent from 5pc was put to test on Monday when the stocks tumbled with number of shares hitting their new lower lock. The KSE-100 index started out on a positive note and took off to its intraday high 135 points, before giving in […]

ISLAMABAD: Anti-tobacco advocates on Monday alleged that the Federal Board of Revenue (FBR) failed to impose the health levy on cigarettes. Speaking at a media session organised by Human Development Foundation (HDF), they called upon the government to ensure implementation of the levy without further delay. According to a statement issued by the HDF, after […]

WASHINGTON: The global growth appears to have bottomed out but there is no rebound in sight and risks ranging from trade tensions to climate shocks makes the outlook uncertain, a top International Monetary Fund (IMF) official said on Monday. For 2020 and 2021, the IMF trimmed back its global growth forecasts, mostly due to a […]

ISLAMABAD: Owing to political pressure on the rising wheat and sugar prices, the government on Monday withheld an announcement to increase natural gas tariff by 5-15 per cent to avoid public criticism. According to informed sources, a second session of the Economic Coordination Committee (ECC) of the cabinet was called in the evening to consider […]