Category: Business

UAE telecom company Etisalat has submitted a framework of settlement to the government for the long-outstanding payment of $800 million against shares of the Pakistan Telecommunication Company Limited (PTCL). Etisalat had, on June 18, 2005, acquired 1.36 billion shares or a 26 per cent stake in PTCL for $2.598 billion. The government has a 62 […]

KARACHI: Pakistani stocks managed to eke out a positive return of 10pc in 2019, after investors were faced with negative returns for two consecutive previous years: (minus 8pc in 2018 and minus 15pc for 2017). The returns in dollar terms, however, still clocked in at negative 1.4pc during the outgoing year. The tide turned in […]

KARACHI: Almost all of the international currencies gained against the rupee in 2019 but the biggest appreciation was seen in the British pound which gained over 15 per cent. The Forex Association Pakistan on Tuesday issued a compiled report showing the devaluation trend of the rupee against major international currencies in interbank market. The US […]

ISLAMABAD: The government on Tuesday increased fuel prices for January, raising the petrol price to Rs116.60 per litre with the increase of Rs2.61, while app­roving the recommendations made by the Oil and Gas Regulatory Authority (Ogra). A notification issued by the finance ministry says that the new rate for the most widely used fuel consumed […]

ISLAMABAD: The Federal Board of Revenue (FBR) missed revised revenue collection target for the first half year of current fiscal year by a wide margin of Rs287 billion against the target of Rs2.367 trillion despite several measures and double-digit consumer inflation. The FBR has collected Rs2.080tr during the first half year as against the target […]

Stocks began the new year in the green, with the benchmark KSE-100 index closing at 41,400 points – up 664 points – registering a 1.64 per cent increase from the opening bell. Analysts have attributed this rise to the new year’s “euphoria” coupled with a positive economic outlook in the medium to long term. Speaking, […]

ISLAMABAD: Pakistan is eyeing the Vietnamese market to export electric fans as the East Asian country’s demand for fans has increased amid rising tourism. In a visit organised by the Engineering Development Board (EDB), a nine-member trade delegation representing electric fan sector visited Ho Chi Minh City in order to develop business-to-business meetings and explore […]

KARACHI: The stock market closed nearly flat on the first trading day of the week with the KSE-100 index up by marginal 39.10 points (0.10 per cent) at 40,887.63. The index took a positive start and buying, mainly by individuals who bought stocks of net worth $4.19 million, carried it higher by massive 447 points. […]

ISLAMABAD: The provinces have finally agreed over the establishment of uniform standards for food and other consumer items across the country with the condition that enforcement will be the responsibility of respective provincial authorities. The decision was taken at the Council of Common Interests (CCI) recently. All provinces agreed to have a uniform standard of […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Monday waived all duties and taxes on import of cotton and allowed its import via the Torkham border land route from Afghanistan and Central Asian States to meet the growing demand of the textile value-added sector. The decision taken at a meeting of the ECC, […]