Asian shares are cautious as Wall St futures slip. Soft U.S. data suggests downside risks for this week’s June payrolls report. 10-year yields holding around 2.88% having fallen 61 basis points from their June peak. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.3%. Investor demand for the most liquid safe haven has … Read more
Micron Technology (MU.O) projected final quarter income and benefit beneath market gauges on Thursday. A sign that international strife and shortcoming in purchaser spending would burden interest for its memory chips. Micron gauge changed income for the ongoing quarter to be $7.2 billion, give or take $400 million. Investigators on normal expected a figure. Amount … Read more
ISLAMABAD: The government has revised tax deduction criteria for the salaried class and withdrawn relief given in the federal budget. The government had decided to waive off taxes on earnings of Rs1.2 million which has now been withdrawn on the demands of the International Monetary Fund (IMF). The tax collection target of the Federal Board … Read more
Cloud and enterprise software firm Oracle Corp (ORCL.N) topped Wall Street estimates for quarterly profit and revenue. More businesses are spending on cloud services while transitioning to a hybrid work environment. Shares in the Austin, Texas-based company have declined about 27% so far this year. Cloud and undertaking programming firm Oracle Corp (ORCL.N) bested Wall … Read more
Stocks fell on Friday after the May consumer price index showed hotter-than-expected inflation numbers. Among the stocks that fell were Stitch Fix and DocuSign, which Cramer highlighted as two names that illustrate his warning against investing in former high-flyers. Stocks fell on Friday after the May consumer price index showed hotter-than-expected inflation numbers. Among the … Read more
Amber has been in the headlines for a long time due to her court fights with her ex-husband. JD had sued The Sun for libel over ‘wife-beater’ charges, but the libel case was dismissed. JD however, prevail in his slander claim against her. As everyone knows, the court ordered Amber Heard to pay $10.38 million … Read more
U.S. stock fates were level Wednesday night as financial worries hauled down financial backer feeling. Fates attached to the Dow Jones Industrial Average edged lower by 13, or 0.04%. S&P 500 prospects plunged 0.02%, and Nasdaq 100 fates were lower by 0.02%. Portions of pet retailer Chewy flooded night-time by almost 20% after the organization … Read more
U.S. families are presently spending what might be compared to $5,000 a year on fuel, up from $2,800 a year prior, as per Yardeni Research. In March, the yearly pace of gas spending was at $3,800, Yardeni noted. During the seven day stretch of May 16, the public retail cost for gas arrived at a … Read more
KARACHI: The MCB Bank net profit showed a growth of 6 per cent to Rs31.1 billion for the year 2021, compared with the earnings of Rs29.56 in the preceding year, a bourse filing said. Analysts at Arif Habib Limited said that the earnings increased on a year-on-year basis on the back of reversals in provisioning … Read more
The UAE will introduce a 9 per cent corporate tax on business profits of more than Dh375,000 ($102,000) from June 1, 2023, the Finance Ministry said, in a major change of course, as the country seeks to diversify its income. For the UAE, the regional headquarters for a swathe of multinationals, the move marks a … Read more
RIYADH: Saudi Real Estate Refinance Company has completed issuing a SR2 billion ($533 million) Sukuk to support lenders in the kingdom’s housing market, Arab News reported. The 10-year Sukuk was issued at a fixed profit rate of 3.04 per cent marketed to Saudi institutional investors, the deal was oversubscribed 2.5 times, the company said in a statement. … Read more
KARACHI: Faysal Bank Limited on Thursday announced profit-after-tax of Rs4.067 billion for the half-year ended June 30, 2021, a bourse filing said. The bank posted 7.33 per cent growth in its net profit, compared with Rs3.79 billion in the corresponding period last year. Faysal Bank announced Rs2.68 as earnings per share (EPS) for the period … Read more
KARACHI: The Pakistan Oilfields Limited (POL) has announced a net profit of Rs15.40 billion for the year ended June 30, 2021, which is 6.2 per cent higher than the profit of Rs14.50 billion recorded in FY20, a bourse filing said on Wednesday. The earnings per share (EPS) for the year clocked-in at Rs54.24, compared with … Read more
BEIJING: China’s international goods and services trade surplus stood at 237.8 billion yuan (about US$ 37 billion) in June, official data showed Friday. Last month, the country’s trade income amounted to nearly 1.89 trillion yuan and expenditure was over 1.65 trillion yuan, according to data released by the State Administration of Foreign Exchange. China’s goods … Read more
KARACHI: The housing and construction finance registered a significant increase of Rs111 billion, or 75 per cent during FY21, compared with FY20, to reach Rs259 billion by the end of June 2021, a statement quoted a senior government official, as saying, on Thursday. Briefing Prime Minister Imran Khan in a meeting of the National Coordination … Read more
KARACHI: The profitability of banks is expected to slump for the second quarter of the calendar year 2021 ended June 30, 2021, owing to a decline in net interest income, analysts said on Thursday. The analysts at the Topline Securities said the earnings of banks may decline 19 per cent Year-on-Year (YoY) to Rs42 billion … Read more
Prime Minister Imran Khan highly praised the Federal Board of Revenue (FBR) after they achieved a “historic level of tax revenue of Rs4,732 billion in the fiscal year 2020-21.” On Twitter, Prime Minister Imran said that the FBR tax collection in the previous fiscal year was more than the revised target of Rs4,691 billion and … Read more
Regional Taxpayer Unit –II registered unprecedented increase in salaried class income tax return filing in with increase of over 479 percent in the first quarter of 2019 as compared to the corresponding period of last year. According to the details shared by the Chief Commissioner RTU-II Ahmed Shuja Khan here on Wednesday in a briefing, … Read more
