Category: Business

ISLAMABAD: The Federal Board of Revenue busted a gang of 50-60 unscrupulous persons for issuing invoices in the name of bogus companies involving tax fraud of billions of rupees. The Karachi-based Directorate of Intelligence and Investigation of FBR has unveiled a scam of evaders, who are engaged in issuing and utilising fake and flying invoices […]

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday approved an increase of Rs1.56 per unit in power tariff on account of fuel adjustment cost of electricity consumed in October. The Central Power Purchasing Agency (CPPA) had sought an increase of Rs1.73 per unit. The raise will put an additional burden of Rs14.50 billion […]

KARACHI: Leaders representing Karachi Industrial Forum and members of different textile bodies have criticised the utility company over its failure to supply gas to industrial units and warned of protests in case the Sui Southern Gas Company (SSGC) failed to restore gas at normal pressure. Addressing a press conference at the Karachi Press Club on […]

Prime Minister Imran Khan on Friday announced the passage of a new ordinance which will “insulate the business community” from the scrutiny of the National Accountability Bureau (NAB). The premier’s announcement came during an awards ceremony of the Pakistan Stock Exchange at the Governor House in Karachi to which he had been invited as the […]

ABIDJAN: A decade after rubber was heavily promoted as a goldmine for Ivory Coast’s cocoa-dependent economy, planters are under pressure to address criticism that they are damaging the environment and weakening the country’s ability to feed itself. “Well-managed rubber production is an asset,” said Eugene Kremien, the president of the Association of Professionals of Natural […]

FAISALABAD: The Directorate of Intelligence and Investigation (Inland Revenue), Faisalabad, has detected a dummy unit allegedly involved in million of rupees tax fraud. The directorate has unearthed a scam of issuing/adjusting fake and flying invoices involving tax fraud of millions of rupees. On a tip-off, the IR section initiated a probe into the issue and […]

TOKYO: Nissan shares hit an eight-year low on Wednesday after the senior executive in charge of plans to revive crisis-hit Nissan has decided to quit just weeks after taking the job, sending the carmaker’s stock plunging more than three per cent on Wednesday. Jun Seki, 58, number three at Nissan, had informed them of his […]

CHENGDU: China made overtures on trade to Japan and South Korea and offered support for an infrastructure initiative as it hosted the leaders of its two neighbours this week amid strained ties with the US. Chinese Premier Li Keqiang said on Wednesday at a meeting with Japanese Prime Minister Shinzo Abe that Beijing was willing […]

RIYADH: Saudi Arabia and Kuwait have ended a nearly five-year-long dispute over shared oil fields and have agreed to resume oil production from the divided Neutral Zone, but stressed this would not change their OPEC commitments to crude oil production cuts. The allied Gulf Arab nations signed the agreement in Kuwait City on Tuesday. Local […]

KARACHI: Despite auto assemblers’ reservations regarding the National Electric Vehicle Policy (NEVP), the government has aimed at making it operational by January 2020. The federal cabinet approved NEVP on Nov 5 and the Ministry for Climate Change (MoCC) has summoned an inter-ministerial meeting on Thursday in Islamabad to discuss the same. The MoCC has informed […]