Latest Finance News – Pakistan & World Finance news updates – Breaking news, New photo & Videos.
Haider Hussain, secretary of the Pakistan Hockey Federation, bemoaned the lack of finance It has caused hockey’s decline in the nation and expressed concern that stadium closures may result if the scenario persists Hussain claimed there were no money when he assumed the position on the Geo News show “Geo Pakistan.” If the federation does … Read more
ISLAMABAD: Prime Minister Shehbaz Sharif has appointed Former Governor State Bank of Pakistan Tariq Bajwa to the federal cabinet. Tariq Bajwa has been appointed as Special Assistant to the Prime Minister (SAPM) for Finance. His position would be equivalent to Minister of State. Tariq Bajwa is a retired civil servant who served as the Finance … Read more
The IMF blatantly ignored the rising inflation in its statement on the occasion of reaching a staff level agreement with Pakistan. The accumulation of circular debt of Rs850 billion has shocked policymakers and set off alarm bells. Overall, there are signs that Islamabad may secure $10 billion in dollar loans from multilateral creditors. The IMF … Read more
The FBR has made changes to the advance tax on capital gains from the sale of real estate. Experts call the action “unjustified and arbitrary”. Real estate was included to the capital gains tax’s purview in 2012. Officials announced Friday that the Federal Board of Revenue (FBR) had made significant changes to the advance tax … Read more
The ECC of the Cabinet agreed a 10 percent regulatory charge on the import of motor spirit. The decision was made during a meeting of the ECC convened in the Finance Division. The committee will also consider approving technical supplemental funds. A meeting of the Economic Coordination Committee (ECC) has been called by Finance Minister … Read more
People aged 21-30 are the most likely to fall for frauds on social media. Fraud in which consumers are misled into transmitting money rose 39% in 2021 to £583m. Impersonation, investment, and romance scams are “particularly harmful and frequent”. People under 35 are the “primary target” for scammers using social media sites like WhatsApp. A … Read more
After putting Boots for sale in January, Walgreens claimed to have received numerous proposals. Mukesh Ambani and Apollo Global Management were reportedly interested purchasers. The company was valued at around £9 billion when it announced its merger in 2014. According to US pharmacy behemoth Walgreens, purchasers of Boots were unable to acquire sufficient financing because … Read more
FBR generates Rs6tr in taxes from July 1 to June 28 of FY22. Achieving almost 98.3% of the target. PTI claims this is first time in 20 years that FBR has surpassed its target. ISLAMABAD: Since the beginning of the current fiscal year 2021–22, the Federal Board of Revenue (FBR) has collected Rs6 trillion in taxes, … Read more
Thousands of depositors battling to recoup their cash from at least six banks in central China. Experts fear a financial crisis may be on the horizon. Hundreds of depositors flocked to Zhengzhou, the capital of Henan, late last month. In the central Chinese province of Henan, Peter had deposited his about $6 million life savings … Read more
KARACHI: Pakistan’s addiction towards imported fossil fuels, which now has shifted towards liquefied natural gas (LNG) as a replacement fuel, undermines the country’s energy security and financial stability, IEEFA’s latest report suggests. “LNG sourced from global markets now costs 5 to 10 times more expensive than domestically produced gas in Pakistan,” Haneea Isaad, the co-author … Read more
Britain still retained the top spot in European rankings – attracting 63 projects in 2021. But the gap with second-placed France narrowed, with its neighbor recording 60 projects. Both nations enticed a higher number of projects than in the previous year. Britain and France bucked the trend for a contraction in Europe overall. Paris made … Read more
Ukraine’s GDP contracted by 15.1 percent in the first three months of this year. It is expected to decrease by 35 percent in 2022. Ukrainian finance minister Sergiy Marchenko told that he expected a drop of 45-50 percent. According to the state statistics agency, Ukraine’s GDP contracted by 15.1 percent in the first three months … Read more
Wall Street guard dog intends to examine development as of late of the installment for request stream (PFOF) practice. PFOF practice is restricted in Canada, the UK and Australia. It aims to ensure mother and-pop financial backers get the best cost for exchanges. SEC chief Protections and Exchange Commission seat Gary Gensler told an industry … Read more
As the crisis in Ukraine has disrupted global food and energy markets, UN Secretary General Antonio Guterres called for swift and decisive action to maintain a “steady flow of food.” Speaking in Stockholm, Guterres said “the war must end now” while condemning the Russian invasion of Ukraine as “a violation of its territorial integrity and … Read more
The Ministry of Finance has distinguished five principal challenges defying Pakistan’s economy including higher expansion and outside shortage, money deterioration, declining unfamiliar trade holds, and mounting vulnerability. “Pakistan is at present confronting a few serious difficulties: speeding up expansion, high outside shortages, conversion scale devaluation, declining unfamiliar trade holds and mounting vulnerability,” noted service in … Read more
When the tide goes out you find out who becomes swimming bare, Warren Buffett memorably said. The tide’s truly long gone out in markets this yr, but finance has come via with few troubles. Is it possible that this time no longer many had been skinny-dipping? The positive view is that the everyday culprits—speculators using … Read more
The federal authorities on Friday introduced the agenda for the submission of the federal price range for the upcoming fiscal year 2022-23. The Annual Budget for FY23, together with the Finance Bill 2022, is scheduled to be offered in the National Assembly on Friday, the tenth of June 2022. “Prime Minister [Shehbaz Sharif] has been … Read more
Two ministerial sources told Reuters on Friday that the cabinet of Lebanon has approved an economic recovery plan to take the country out of a three-year financial crisis. Ministers agreed on the plan at the cabinet’s final session before relinquishing decision-making authority following the election of a new parliament on May 15 that will name … Read more
The German banking regulator BaFin warned on Tuesday that cyberattacks on the financial industry pose a “very serious” threat, one that has grown “more plausible” since Russia’s invasion of Ukraine. “The risk that companies in the financial sector will fall victim to cyberattacks or that internal IT security incidents will occur is very big and … Read more
KARACHI: The unconsolidated earnings of D G Khan Cement Company Ltd (DGKC) recorded a decline of 30 per cent to Rs1.4 billion translating into the earnings per share (EPS) of Rs3.3 during the third quarter of fiscal year 2022. The company recorded a profit of Rs2 billion (EPS: Rs4.7) during the third quarter of the … Read more
US Treasury Secretary Janet Yellen this week will name on her opposite numbers to ramp up the monetary pain on Moscow over its invasion of Ukraine, a senior Treasury legit stated Monday. Yellen will participate within the spring conferences of the IMF and World Bank, as well as gatherings of finance officers from the G7 … Read more
Lt. Gov. Brian Benjamin of New York resigned on Tuesday after being detained on charges connected to a campaign finance fraud probe, according to officials. Gov. Kathy Hochul announced Benjamin’s resignation, which took effect immediately. “While the legal process plays out, it is clear to both of us that he cannot continue to serve as … Read more
LAHORE: The Small and Medium Enterprises Development Authority (Smeda) has initiated a series of consultative sessions with stakeholders for compiling recommendations for federal budget 2022/23, a statement said on Thursday. After completing a session with the chambers of commerce and industry of the country, an online session with the trade and industrial associations was held … Read more
KARACHI: The profit after tax of Engro Polymer & Chemicals Limited (EPCL) witnessed an increase of 29 per cent to Rs4.689 billion, translating into the earnings per share of Rs5.16 during the fourth quarter of 2021. The company recorded a profit of Rs3.627 billion, translating into the earning per share (EPS) of Rs3.99 during the … Read more
ISLAMABAD: With the overall debt liabilities of $5.5 trillion, including the external debt of over $127 billion, Pakistan’s economy remains stuck in a vicious cycle. The government is being forced to borrow from every possible quarter just to meet the debt repayment liabilities and finance the budgetary gap. Experts believe that the government should revisit … Read more
KARACHI: Fauji Fertilizer Company Limited (FFC) has posted a 20 per cent increase in net profit to Rs35.69 billion, translating into the earnings per share (EPS) of Rs28.06 for the year ended December 31, 2021. FFC also declared a final cash dividend of Rs4.65 along with the results, which is in addition to the interim … Read more
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has expressed concerns on the difference in the retail and wholesale prices of pulses in the country. Tarin, while presiding over the meeting of the National Price Monitoring Committee (NPMC), on Wednesday directed the Ministry of NFS&R to investigate and take appropriate action against the exploiters … Read more
KARACHI: The government, amid a heated session of the National Assembly, managed to pass the Supplementary Finance Bill 2021 and the SBP Amendment Bill 2021 in a super long session. The SBP Amendment Bill, being a legislative bill, would be presented in the Senate after which it will be referred to the Standing Committee on … Read more
