Business

ISLAMABAD: Pakistan was rescheduling flights, blocking-off luxury hotels, and — according to one report Friday — collecting 3,500 pigeons and colourful balloons to release during a welcome ceremony for Saudi Arabian Crown Prince Mohammed bin Salman. Islamabad is hoping to sign a raft of investment deals and other agreements during the two-day…

ISLAMABAD: In order to reach a staff-level agreement with the International Monetary Fund (IMF), Pakistan will require to bring down its borrowings from the…

LAHORE: Renowned foreign banks JP Morgan, Credit Suisse and CLSA are said to be in the running for a financial advisory role in Pakistan’s largest privatization…

ISLAMABAD: The central bank is set to cease the issuance of Rs40,000 denominated national prize bonds starting Friday, which will enable to seal a gap which allowed people to legalize their black money. According to an internal notification issued by the State Bank of Pakistan (SBP), it is set to terminate issuance of fresh bonds of Rs40,000…

By Our Staff Reporter LAHORE: Minister for Agriculture Punjab Malik Nauman Ahmad Langrial, Minister for Information & Culture Fayyaz-Ul-Hasan Chohan and…

By M J Hayat LAHORE: The economy is expected to revert to a stable macroeconomic environment over the medium term, said a recent report of the State Bank of…

ISLAMABAD: The textile industry received Rs14 billion during the first seven months of the current fiscal year under the prime minister’s exports enhancement package. “The sector would get an additional Rs115 billion through the package in the next five years,” said Textile and Industry Secretary Iftikhar Babar said on Tuesday. “For the…

ISLAMABAD: Prime Minister Imran Khan on Tuesday ordered countrywide crackdown against gas theft, saying that gas worth Rs50 billion was being stolen annually…

PARIS: Global oil cartel Opec said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell…

ISLAMABAD: Finance Minister Asad Umar on Wednesday said Pakistan welcomes investments of Saudi Arabia’s companies in various sectors, including petro-chemicals and mining sector. Talking to a Saudi Arabian delegation in Islamabad, he appreciated Saudi Arabia for joining the China-Pakistan Economic Corridor (CPEC) projects. Asad Umar said both…

ISLAMABAD: Chief Minister Balochistan Mir Jam Kamal Khan on Wednesday said online tax collection was a step towards improved tax system in the province.…

SINGAPORE: The dollar held steady versus its peers on Tuesday, hovering close to its 2019 high as U.S.-Sino trade tensions and global growth worries underpinned…

SINGAPORE: Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 percent, from…

ISLAMABAD: The Tax Reforms Commission headed by the Minister of State for Revenue, Hammad Azhar on Monday has decided to refine the system for valuation of…

ISLAMABAD: Pakistan and Saudi Arabia are expected to sign major trade deals amounting to $20 billion during Saudi Crown Prince Mohammed bin Salman’s…

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday approved an additional guarantee of Rs5.6 billion for Pakistan International Airlines (PIA). Finance Minister Asad Umar chaired a meeting of the ECC during which approval was accorded for an additional guarantee for the national carrier. The funds will be utilised for maintenance,…

KARACHI: Withholding tax collection from non-banking transaction recorded a 1% increase to Rs6.156 during the first seven months of the current financial year…

In April last year, Raheel had already traveled to more countries than anyone else from his neighbourhood in Multan at just the age of 24. A college student…

While e-commerce threatens to devour traditional retailing in most industries, the one sector that has thus far remained resistant to its pull, even in the most developed of e-commerce markets such as the United States, is grocery shopping. There have been some nascent online grocery shopping websites in developed economies, but they have been slow…

German philosopher Friedrich Neitzsche once said, “Many are stubborn in the pursuit of the path they have chosen, few in pursuit of the goal.” It may be early…

Moody’s Investors Service has changed its outlook for the banking system in Pakistan (B3 negative) to negative from stable. “Over the next 12-18 months,…

ISLAMABAD: Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood on Monday said the government's decisions pertaining to the economy have started yielding positive results and imports have decreased. Addressing a news conference in Islamabad, the adviser to the PM on commerce said, "We saved $2 billion on imports in the…

LAHORE: Chingiz Coribhi, Deputy Head of Mission, Embassy of Azerbaijan has said that a joint trade exhibition of Pakistan, Azerbaijan and Turkey will be held in…

Dubai: Christine Lagarde, Managing Director of the International Monetary Fund (IMF), has held meeting with Pakistan‘s Prime Minister Imran Khan in Dubai on the…

ISLAMABAD: Prime Minister Imran Khan departed for Dubai on Sunday to attend the seventh edition of World Government Summit. Accompanied by Foreign Minister Shah Mehmood Qureshi, Finance Minister Asad Umar, Minister for Maritime Affairs Syed Ali Haider Zaidi and Adviser to the PM on Commerce Abdul Razak Dawood, the premier is visiting Dubai on…

Bilal Azhar Generally a large portion of the total populace still lives on what might be compared to about US$2 per day with worldwide joblessness rates of…

LAHORE: Federal Board of Revenue (FBR) chairman Jahanzeb Khanhas said that the board is mulling to get rid of the advance tax collections and ensure early…

Hundreds of jobless young people marched on Thursday through the streets of the Indian capital demanding Prime Minister Narendra Modi’s government tackle what they called a rising unemployment crisis. The protesters disputed the government’s claim that it has created millions of jobs since it came to power in 2014 with the economy growing around…

ISLAMABAD: Prime Minister Imran Khan will address the World Government Summit’s 7th edition on Feb 10 during his day long visit to United Arab Emirates on the…

NEW YORK: A New York developer and a partner plan to demolish the Grand Hyatt New York, the hotel that launched US President Donald Trump’s real estate career…