Category: Business

SINGAPORE: State-owned Pakistan LNG has cancelled a tender to buy liquefied natural gas over a 10-year period and may turn to the spot market instead, two sources familiar with the matter told Reuters on Tuesday. The company issued the tender in early June to import 240 LNG cargoes of 140,000 cubic metres each for delivery over 10 […]

WASHINGTON: The International Monetary Fund (IMF) on Monday estimated that Pakistan’s economy would slow down to 2.4 per cent in 2020 and pick up quickly after that as stabilisation measures bear result. Speaking at a news conference at the launch of the World Economic Outlook 2019, IMF’s economist Gian Maria Milesi-Ferrtti said Pakistani authorities remained […]

India wants to comply with global sanctions, including US sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests, Finance Minister Nirmala Sitharaman said in an interview on Tuesday. The United States in January imposed the toughest sanctions yet on Venezuela’s oil industry. The move has scared away some […]

KARACHI: The State Bank of Pakistan (SBP) said on Tuesday that a comprehensive framework has been developed to deal with the money laundering and terror financing to restrict misuse of banking channels. “In order to strengthen trade-related Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime and restrict possible misuse of banking channels, a […]

The pound held most of its gains on Wednesday after hitting a five-month high on growing hopes that Britain and the European Union (EU) are close to a Brexit deal, while equity markets remained buoyed despite signs of fresh China-US tensions over Hong Kong. Sterling surged on Tuesday as negotiators voiced optimism that they could […]

FRANKFURT: The sanctions the US announced against Turkey this week over its offensive in Syria fall well short of doing serious damage to an economy still healing from a recession and currency collapse. President Donald Trump could take far tougher action that would deter foreign investment and credit that Turkey badly needs but doing so […]

QUETTA: The Balochistan Revenue Authority (BRA) collected record Rs11 billion in sales tax revenue on services during the last fiscal year. The provincial revenue authority’s collections increased by 22 per cent to Rs11bn from Rs9bn in FY18 after the introduction of online tax collection service. Balochistan’s Finance Minister Mir Zahoor Ahmed Buledi disclosed the numbers […]

KARACHI: Investment in government papers, mainly dominated by the banking sector, set new record as it crossed Rs10 trillion-mark. The State Bank of Pakistan (SBP), in its latest report released on Monday showed that banks and non-banks including corporate sector investments in the government papers reached Rs10.3 trillion by the end of August. The major […]

ISLAMABAD: The federal cabinet, which met on Monday under Prime Minster Imran Khan, took some important decisions, approving an ordinance regarding formation of a regulatory authority on real estate and calling a meeting of the provinces to bring down skyrocketing prices of essential items. The cabinet, which usually meets on Tuesdays, held its meeting a […]

Prime Minister Imran Khan on Tuesday welcomed a $240 million foreign investment from Hong Kong-based port operator Hutchison Port Holdings, the Prime Minister’s Office said in a statement. A delegation of Hutchison Port Holdings led by their Group Managing Director Eric Ip called on the prime minister at his office today. Ip apprised the prime […]