Business

Imran to blaze a new trail in policy-making

LAHORE: The State bank of Pakistan has decided that the restrictions earlier imposed on advance payment against imports shall not apply on letters of credit…

By Our Staff Correspondent KARACHI: JazzCash has achieved yet another milestone by achieving four million active mobile account subscribers, stated one…

Donald Trump has tweeted that it is "great" that many Harley-Davidson owners plan to boycott the firm as a row over tariffs escalates. The US president said "most other firms... including Harley competitors" agreed with his decision to impose tariffs on steel and aluminium imports.In June, Harley-Davidson said it would move some production out…

ISLAMABAD: Pakistan on Monday expressed solidarity with Turkey as the country grapples with a currency crisis that saw the lira plunge as much as 20% last week…

KARACHI: The KSE-100 index failed on Friday to sustain the moderate gains made on the previous day and closed lower in range bound trading. The day kicked off…

KARACHI: In a positive development, the remittances received from overseas Pakistanis rose markedly in July 2018, according to data released by the central bank on Friday.Remittances stood at $1.93 billion in the first month of fiscal year 2019, up 25.17% compared to $1.54 billion in the same month of previous year.The inflows were 21.03%…

Although China calls Pakistan and itself iron brothers, when it comes to trade, Pakistan stands at a weaker position in comparison to India, which is Beijing’s…

ISLAMABAD: The previous government of Pakistan Muslim League-Nawaz (PML-N) caused a loss of Rs40 billion in six months to Peshawar Electric Supply Company…

By Our Staff Correspondent KARACHI: Foreign exchange reserves held by the State Bank of Pakistan have slightly improved by 20 million to $10.369 billion on August 3, 2018 against $10.349 billion on July 27. According to data released by the State Bank of Pakistan on Friday, the total liquid foreign reserves held by Pakistan slightly decreased to…

Bangladesh inflation rate eased slightly to 5.51 percent in July 2018 from 5.54 percent in the previous month. It was the lowest inflation since April 2017, as…

KARACHI: Credit to agriculture sector increased by over 38 per cent during 2017-18, inching closer to Rs1 trillion mark.The double-digit growth during the…

ISLAMABAD: Ahead of the new elected government, the Commerce Division and Customs Department are working on various proposals to curtail the rising import bill of the country.The Commerce Division is working on an exercise to identify certain tariff lines that will be proposed to the incoming government for imposing quantitative restrictions on…

KARACHI: The ministry of finance has allowed Federal Board of Revenue (FBR) to add Rs97 billion, collected under the amnesty scheme for the period ended June…

ISLAMABAD: The caretaker government has prepared a set of proposals for the upcoming regime for overhauling outdated tax machinery, including separating policy…

M J Hayat LAHORE: Specialized banks have failed to meet their targets for agricultural loaning disbursement as Zarai Taraqiati Bank Ltd (ZTBL) disbursed Rs 83.2 billion or 66.6% of its annual target of Rs 125 billion while PPCBL disbursed Rs 10.7 billion by achieving 71.5% against its target of Rs 15 billion during FY 2017-18, State Bank of…

M J Hayat  LAHORE: Both a large fiscal deficit and widening of current account deficit led to a considerable accumulation in public debt during Jul-Mar FY18,…

Special CorrespondentLAHORE: State Bank of Pakistan has noticed misleading rumors spreading in social media regarding clearing operations of Summit Bank…

Islamabad - Pakistan Wednesday defended its economic partnership with China, amid fears that the terms of opaque multi-billion dollar investments by Beijing could be exacerbating Islamabad´s economic woes as it considers a fresh IMF bailout."We have noted recent media reports questioning the viability of China Pakistan Economic Corridor (CPEC),…

KARACHI:  Two private sector companies have joined hands  to establish  reliable domestic online payment gateway which aims to serve as a tool for merchant…

KARACHI: Businesses, individuals and government can save up to $1.5 billion from Karachi if consumers adapt digital payment systems, according to a study…

KARACHI: Stocks managed to climb on the first trading day of the week with the KSE-100 index gaining 303.61 points (0.71 per cent) to close at 42,808.66.Market opened positive and traded sideways in the early hours due to lack of interest by participants in the absence of market-specific triggers. Investors were haunted over the fragile…

ISLAMABAD: A Special Senate Panel on Monday questioned the creation of a Rs22 billion power sector revolving fund as a special arrangement to make preferred…

A prototype computer that could become the world's fastest began operating at the national supercomputer center in the East China city of Jinan on Sunday.…

ISLAMABAD: Anti Narcotics Force (ANF) Pakistan has seized 1.8 Tons narcotics and arrested 30 persons involved in drug trafficking during its campaign against the menace across the country. The Force also impounded 18 vehicles while conducting 26 counter-narcotics strikes across the country. The seized drugs comprised 1713.35 Kg Hashish, 59.22 Kg…

The Business ReportKARACHI: As more clarity emerged on the political scene, the stock market continued to march upwards on Monday after investors picked…

ISLAMABAD: The Federal Board of Revenue (FBR) has initiated disciplinary action against all those Pakistanis having immovable properties in Britain, and did not…

By Our Staff Correspondent KARACHI: The most popular variant of Toyota’s flagship Corolla, XLi 1.3 is set to change the auto sector dynamics of Pakistani market with launch of advanced version with 4 speed automatic (super electronic controlled transmission), dual SRS airbags, immobilizer and many more advanced features. Indus Motor Company…

Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau.Markets also…

Saudi Arabia will suspend new trade and investment with Canada after that country’s foreign ministry urged Riyadh to release arrested civil rights activists, it…

By M J Hayat LAHORE: Large-Scale Manufacturing (LSM) marginally improved on a YoY basis, growing by 5.9 percent during July-March FY18, compared to 5.4 percent in the corresponding period last year, State Bank of Pakistan (SBP) reported. The factors which facilitated LSM growth mainly included: (i) increased capacity utilisation due to ease in…

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar, who is likely to be the next finance minister of the country, says the country’s economy may need…

KARACHI: The upcoming Pakistan Tehreek-e-Insaaf (PTI) government is ready to convert the conventional government system with e-government system by allocating…

Huawei Technologies Co Ltd, which overtook Apple Inc as the world’s second-largest smartphone vendor in the June quarter, said on Friday it shipped more than 95 million smartphones globally in the first six months.Huawei said its wearables posted growth of 147 percent during the period from a year ago, and it plans to add another 10,000…

Oil prices edged lower on Friday after strong gains the previous day, easing on persistent supply concerns as Russia increased production in July and Saudi…

Asian stocks inched on Friday following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington capped…

China must manage the relationship between steady economic growth and risk prevention as external uncertainties are increasing, according to a recent meeting of a high-level government body.The State Council Financial Stability and Development Commission said more attention needs to be paid to the transmission of monetary policy and its support…

SAN FRANCISCO: Apple became the first private company to exceed $1 trillion in market capitalization Thursday, two days after reporting better-than-expected…

China’s stock market has been overtaken as the world’s second-biggest by Japan’s, having been swiped this year by the threat of a trade war with the United…

TOKYO: The dollar firmed against a basket of currencies on Friday and hit a more than 14-month high against the yuan, with markets gripped by worries over escalating trade tensions between the United States and China.China vowed on Thursday to retaliate if the U.S. acted on a threat to raise tariffs on the Asian nation’s exports after U.S.…

ISLAMABAD: Federal Board of Revenue (FBR) says that Switzerland never, at any time, offered to return even a single dollar of Pakistanis deposited in Swiss…

By Our Special Correspondent LAHORE: Habib Bank Limited (HBL) on Thursday declared a consolidated profit after tax of Rs 8.1 billion, with earnings per share…

ISLAMABAD: The Veterans of Pakistan (formerly PESA) on Thursday expressed satisfaction at the peaceful conclusion of the general elections barring two terror incidents. Army's role to provide security at polling stations was highly appreciated. Troops were seen to be very polite with voters and were ready to provide guidance to various enclosures.…

The measure’s reach was not immediately clear and previous moves to tweak the economic model have had little impact. It is unlikely, economists say, that…

Companies will now be able to pay to put ads into user's status updates  Will also pay to be able to send messages to customers  Around 60 billion…

LAHORE: The total liquid foreign reserves held by the country stood at US$17,079.7 million on 27July2018.The break-up of the foreign reserves position is as under:- i) Foreign reserves held by the State Bank of Pakistan : US$ 10,349.7 million ii) Net foreign reserves held by commercial banks : US$ 6,730.0 million iii) Total liquid foreign…

By Our Staff CorrespondentKARACHI: Uber has announced it will provide all driver-partners, with an insurance product, known as ‘injury Protection’ across…

KARACHI: US Dollar shows continuous downward trend by losing its value against Pakistani rupee since last week of July 2018. This US dollar trend creates a…

ISLAMABAD: With the curtain set to drop on the amnesty scheme, nearly 15,000 people have filed returns declaring their domestic as well as foreign assets and deposited Rs21 billion in taxes till July 31, Dawn has learnt through knowledgeable sources.On the other hand, the Federal Bureau of Revenue (FBR) has claimed to have collected…

ISLAMABAD: The caretaker government has decided to keep the prices of petroleum products unchanged, ignoring recommendations of the petroleum regulator and…