KARACHI: Lacklustre activity was witnessed in the first half of the session at the Pakistan stock market, as investors were unhappy over Rs120 billion relief package announced by the prime minister, which did not live up to the expectations, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks showed recovery, as investors … Read more
ISLAMABAD: The Power Division plans to enhance peak transmission capacity of the national grid system up to 33,500MW in the next two years. A meeting of the Cabinet Committee on Energy (CCoE) was held under the chairmanship of the Federal Minister for Planning, Development and Special Initiatives Asad Umar in Islamabad on Thursday. The meeting … Read more
KARACHI: Over the past few weeks, the issue of Nasla Tower’s demolition has become the talk of the town. Some believe that the superior judiciary has set an example so that there would be more demolitions of illegal buildings in the future after the 15-storey residential project is razed. Nasla Tower has 11 residential floors … Read more
LAHORE: Punjab Cabinet on Thursday approved the removal of the Tehreek-e-Labbaik Pakistan (TLP) from the list of proscribed organisations, apparently per a secret deal signed between the federal government and the party on October 31. Thursday evening, Chief Minister Punjab Usman Buzdar approved the initial summary moved by the Home Department for the removal of … Read more
LAHORE: West Indies will play three T20Is and as many One Day Internationals in December at the National Stadium in Karachi, announced the PCB on Thursday. “Pakistan Cricket Board today announced West Indies will play three Twenty20 Internationals and as many ICC Men’s Cricket World Cup Super League matches at the National Stadium in Karachi … Read more
DUBAI: Emirates airline is to start daily flights between Dubai and Tel Aviv on Saturday, the airline announced, in the latest sign of deepening relations since the UAE and Israel normalised ties in September last year. The Dubai based carrier, one of the largest in the world, said the new service would also link Israel … Read more
ISLAMABAD: Prime Minister Imran Khan on Thursday said that the government was extending all possible support to foreign investors through the policy of “ease of doing business”. The prime minister expressed these views in a meeting with Finance Adviser Shaukat Tarin and Commerce Adviser Razak Dawood. The prime minister emphasised on improving trade with regional … Read more
MUMBAI: Scottish oil and gas producer Cairn Energy will drop legal claims against India in return for a $1 billion government refund, after lawmakers ditched a tax rule allowing massive retroactive claims. New Delhi introduced a law in 2012 that gave authorities the power to claim back taxes from enterprises that acquired the assets of … Read more
MUMBAI: There’s a new generation of investors in town. They’re young, they get their tips on YouTube, and they’re armed with apps that make the stock markets more accessible than ever before. US investment app Robinhood has made a splash in the West with its mission to open the markets to “everyday people”, but from Nigeria … Read more
WASHINGTON: The Federal Reserve will begin to slow its stimulus bond purchases this month as the US economy makes a solid recovery from the pandemic, but the central bank will be patient before raising interest rates, Fed chair Jerome Powell said on Wednesday. Amid growing concern about rising prices, Powell stuck to his view that current … Read more
GLASGOW: Attention turned Wednesday to how the world will pay for its plan to decarbonise and help vulnerable nations survive climate change, after a world leaders’ summit at COP26 that yielded a landmark methane slashing deal. But a simmering diplomatic spat between the United States, China and Russia over the other’s climate ambition showed the fragile … Read more
Prime Minister Imran Khan along with other Pakistani politicians, took to Twitter on Thursday and wished the country’s Hindu community “happy Diwali” as they celebrate the festival of lights today. “Wishing all our Hindu community a happy Diwali,” tweeted PM Imran. Wishing all our Hindu community a happy Diwali. — Imran Khan (@ImranKhanPTI) November 4, … Read more
Head of the National Command and Operation Centre (NCOC) announced on Thursday that the “national average” of coronavirus vaccination has climbed to 48 per cent. The minister on Twitter informed the nation that 52 per cent of the “eligible population” in Punjab has had at least one dose of the coronavirus vaccine. Punjab also became … Read more
KARACHI: A Sindh High Court bench on Wednesday reserved its order on a petition challenging the closure of a section of Zaibunisa Street from Rex Center to Avari Towers Hotel in the Saddar area of Karachi. Pasban Pakistan’s, in its petition, told the court that the road closure is causing inconvenience to the general public … Read more
LAHORE: Taking a jibe at Prime Minister Imran Khan, PPP’s Senator Sherry Rehman termed the relief package announced in an address to the nation “bizarre”. “The blame minister of Pakistan has given a bizarre speech where he said that all unprecedented inflation, tsunami of oil, gas prices, essentials is because of the past governments and … Read more
KARACHI: The Pakistan stock market moved both ways during the day backed by the continuous rupee appreciation for the sixth consecutive day along with the absence of any political uncertainty, while profit-taking was observed, as the government unveiled plan for raising power tariffs, dealers said on Wednesday. Ahsan Mehanti at Arif Habib Corporation said that … Read more
ISLAMABAD: The Ministry of Finance has said that it is unaware about the whereabouts of the amount worth Rs821.5 billion recovered by the National Accountability Bureau (NAB), as so far it has only collected Rs6.5 billion on account of non-tax revenue. The officials of Ministry of Finance made this startling revelation in a Public Accounts … Read more
ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin was briefed about year-on-year and month-on-month inflation indicators. He was presiding over the meeting of the National Price Monitoring Committee (NPMC) held at the Finance Division on Wednesday. The economic adviser of the Finance Division said there is a slight increase in the … Read more
KARACHI: Engro Fertilizers chief financial officer (CFO) Imran Ahmed has dispelled the impression that the food inflation is due to the urea price hike rather it is the global food inflation, which is giving rise to inflation in Pakistan. During a media briefing at the Karachi Press Club on Wednesday Ahmed said: “Food inflation is … Read more
LAHORE: The Indus Motor Company (IMC) will enhance production capacity by 20 per cent till April 2022 to meet the growing demand of customers, IMC chief executive officer (CEO) Ali Asghar Jamali said. “We have recently started enhancing the capacity of our plant. This will increase the Innovative International Multi-purpose Vehicles (IMV) production by 22 per cent,” … Read more
DHAKA: Bangladesh’s total goods export income in the first four months (July-October) of the current fiscal year surged around 23 per cent on a year-on-year basis to nearly $16 billion, thanks to a hefty rise in shipments of readymade garments, an official said on Wednesday. The Export Promotion Bureau (EPB) official told Xinhua that Bangladesh earned a … Read more
GLASGOW: Finance minister Rishi Sunak on Wednesday said that he plans to make Britain the world’s first net-zero financial services centre, even as environmental campaigners quickly criticised the proposals. “Today I’m announcing that the UK will go further and become the first ever net-zero aligned financial centre,” the Chancellor of the Exchequer said at the … Read more
KARACHI: The banks have shown overwhelming response to an innovative financing scheme for collateral-free lending to the Small and Medium Enterprises (SMEs), a statement quoted State Bank of Pakistan Governor Dr Reza Baqir, as saying, on Wednesday. This is the first time a comprehensive collateral-free SME lending scheme has been introduced by the central bank … Read more
LAHORE: Pakistan and Kazakhstan are striving to enhance bilateral trade and cooperation in diverse sectors to achieve regional connectivity, a diplomat said on Wednesday. Addressing the members of the All Pakistan Textile Mills Association (Aptma) at the Aptma House, Ambassador of the Republic of Kazakhstan to Pakistan Yerzhan Kistafin said that both the countries enjoy … Read more
KARACHI: The Federal Tax Ombudsman (FTO) has reconstituted the Advisory Committee (South) for the year 2021, a statement said on Wednesday. Federal Tax Ombudsman Dr Asif Jah will chair the committee. Other members of the Advisory Committee included the presidents of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI); Karachi Chamber of Commerce … Read more
As people bear the brunt of inflation, Prime Minister Imran Khan unveiled Pakistan’s “largest welfare programme” in a televised address to the nation. “Today, I am really happy that we are [announcing] Pakistan’s largest welfare programme,” said PM Imran. He added that it took “three years” for the government to collect the data of families … Read more
JERUSALEM: Israel’s Prime Minister Naftali Bennett voiced confidence Wednesday that his ideologically disparate government will pass the first state budget in three years. The eight-party coalition has until November 14 to get the budget approved or Israel’s parliament, the Knesset, will be dissolved, forcing new elections. “We are at the finish line and before us … Read more
KARACHI: The Sindh government on Wednesday informed a one-judge bench of Singh High Court that it intends to file an intra-court appeal against the court’s decision to establish a medical college in the premises of Mohatta Palace. On October 13, Justice Zulfiqar Ahmed Khan had passed the order with the consent of the parties of … Read more
