ISLAMABAD: The proposed unprecedented tax hike for the tax-paying tobacco companies will effectively benefit the already vast illicit cigarette manufacturers in Pakistan, a statement said on Wednesday. A spokesperson for Philip Morris Pakistan Limited said that this will also lead to significant shortfalls in the government revenues, as the volumes will massively shift from the … Read more
US and European stocks are mostly superior Wednesday notwithstanding statistics that showed the USA inflation bogged down less than investors were looking forward to. Soaring inflation and the trekking of interest quotes with the aid of vital banks in reaction have been one of the reasons why stocks have taken a beating so far this … Read more
Philip Morris International, the manufacturing company of Marlboro cigarettes, said Wednesday that it has offered $16 billion to acquire Swedish Match, a maker of smokeless tobacco, as the US company seeks to diversify away from its traditional cigarette business. Swedish Match’s board of directors recommended that its shareholders accept the bid of 106 Swedish kronor … Read more
KARACHI: A range-bound trading was witnessed at the local bourse on Friday, as stocks closed lower, amid rising Covid cases, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks closed bearish on investors’ concerns for economic uncertainty, amid Covid outbreak. “Weak rupee, falling global crude oil prices, circular debt crisis and uncertainty … Read more
