Business

PARIS: Global oil cartel Opec said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela. In its monthly report, Opec said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel’s pledge to…

ISLAMABAD: Finance Minister Asad Umar on Wednesday said Pakistan welcomes investments of Saudi Arabia’s companies in various sectors, including petro-chemicals…

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 the greenback’s safe-haven appeal. Investors are focusing on high-level trade talks in China this week where Washington is expected to keep pressing Beijing on long-standing demands that…

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…

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 upcoming visit to Islamabad, diplomatic sources said. Mohammed bin Salman will arrive in Pakistan on February 16 for a two-day visit and is expected to stay at the Prime Minister House during…

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday approved an additional guarantee of Rs5.6 billion for Pakistan International Airlines (PIA).…

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 with a knack for online marketing, he had amassed thousands of air miles and had more money in his bank account than his father. How did he do it? By selling hoodies and T-shirts on Amazon.…

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…

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, banks in Pakistan will see their credit profiles challenged by their high exposure to the country’s low-rated sovereign debt and a slowing economy,” Constantinos Kypreos, Moody’s Senior Vice…

ISLAMABAD: Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood on Monday said the government's decisions pertaining to the economy…

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 sidelines of the World Government Summit hosted by the United Arab Emirates. She highlighted strong economic package will restore confidence in the South Asian country’s economy and lay…

ISLAMABAD: Prime Minister Imran Khan departed for Dubai on Sunday to attend the seventh edition of World Government Summit. Accompanied by Foreign Minister…

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 reimbursement of the refunds and rebates enabling the business community to circulate their funds in order to uplift their business. He was addressing the concluding session of the…

Hundreds of jobless young people marched on Thursday through the streets of the Indian capital demanding Prime Minister Narendra Modi’s government tackle what…

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 in Manhattan decades ago, the two companies said on Thursday. Developer TF Cornerstone and MSD Partners, which manages the assets of Dell Technologies founder Michael Dell and his family,…

Apple on Thursday rolled out software updates to iPhones to fix a privacy issue in its FaceTime video calling service, and said it would contribute toward the…

WASHINGTON: Jeff Bezos, chief executive of Amazon.com Inc, has accused the owner of the National Enquirer of trying to blackmail him with the threat of…

ISLAMABAD: With a huge repayment of over $5 billion approaching in the next six months, Pakistan may be compelled to take a bailout package from the International Monetary Fund (IMF). According to sources, repayment of over $700 million would be made to multilaterals from January-June 2019, which includes over $500 million principal amount and…

ISLAMABAD: Amid pledges of addressing the woes of media workers, the ruling Pakistan Tehreek-e-Insaf (PTI) government has failed to provide relief to even those…

DI KHAN: The task forces of Peshawar Electric Supply Company (PESCO) on Wednesday conducted raids in Bannu, Swat and Peshawar circles and recovered Rs3.02…

WASHIGNTON: Both sides in the US-China trade WASHINGTONns are making a “big commitment” to reach an agreement by the March 1 deadline, US Treasury Secretary Steven Mnuchin said Wednesday. President Donald Trump and Chinese leader Xi Jinping agreed to a 90-day truce in the ongoing trade war, but US tariffs on $200 billion in Chinese imports are…

ISLAMABAD: Concerned authorities on Wednesday apprised Prime Minister Imran Khan that a comprehensive business plan for the Pakistan International Airlines…

Addressing a three-day ‘International Conference on Taxation, 2019’ in Lahore, State Minister for Revenue Hammad Azhar on Wednesday directed the Federal Board…