Category: Business

Asian markets turned lower on Monday as another record close on Wall Street was overshadowed by uncertainty over the China-US trade talks, while Hong Kong was also hit by fresh protests in which at least one person was shot. Expectations Beijing and Washington will agree a mini pact have fuelled an equity rally for the […]

Oil prices fell on Monday amid renewed doubts over the prospects of a trade deal between the United States and China, while concerns over excess supplies also weighed on the market. Brent crude was down 55 cents, or 0.9 per cent, at $61.96 by 3:50am GMT. The contract rose 1.3pc last week. US crude was […]

Saudi Aramco’s much-anticipated initial public offering will begin on November 17, the company’s prospectus said, without revealing the size of the stake sale or the pricing range. The 658-page document, released just before midnight on Saturday, said the final share price will be determined on December 5 — a day after the subscriptions close — […]

KARACHI: The open market currency dealers said they have sold $2.4 billion to the banks in last twelve months while increase in inflows is likely to surpass the selling target of $3.5bn for the ongoing fiscal year. They said that since September last year, they sold $1bn more to banks increasing the total to $1.4bn. […]

ISLAMABAD: In a large swoop to widen tax net and check evasion, the government has decided to evolve a comprehensive plan for nationwide tax assessment and documentation drive to bring affluent people and untapped sectors in the net. Prime Minister Imran Khan has tasked the tax department for coming up with a detailed plan until […]

Forget stocks, real estate, even cryptocurrencies — China’s hottest investment nowadays may be the Nike, Adidas, and Puma basketball shoes that “sneakerheads” like Hu Huaiyuan fight to get their hands on. Enthusiasts worldwide have fuelled an expanding bubble in high-priced sneakers, often limited-edition collaborations between big names in sportswear and fashion, rappers or athletes. But […]

A New York financial regulator said on Saturday it is investigating claims of gender discrimination by the new credit card from tech giant Apple and its issuer Goldman Sachs, after a cardholder’s tweet about his wife’s credit limit went viral. American businessman David Heinemeier Hansson had tweeted on Thursday that the Apple Card is a […]

The International Monetary Fund (IMF) mission and the local authorities reached a staff-level agreement on the first review under the Extended Fund Facility (EFF) for Pakistan after it was observed that the end-September performance criteria “were met with comfortable margins”. According to a press release issued by the mission on Friday, the two sides reached […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday put off the settlement of a dispute between the Power and Petroleum Divisions over proposed withdrawal of guaranteed 66 per cent liquefied natural gas (LNG) offtake by two power plants — Haveli Bahadurshah and Balloki — on the priority privatisation list. The meeting presided […]

BENGALURU: Moo­dy’s Inves­t­ors Service cut India’s ratings outlook to “negative” from “stable”, citing increasing risks that Asia’s third largest economy will grow at a slower pace than in the past, sending stock markets nearly 1 per cent lower at Friday’s close. However, Moody’s retained the country’s foreign and local currency ratings at ‘Baa2’. The cut […]