Business

PSX considers the trades as valid On Friday evening: management Our Special Correspondent Lahore: Trending continued for three additional minutes at the Pakistan Stock Exchange (PSX) for the first time after the exchange was closed on Friday and the management took no notice of the violation, two different sources said. It was…

M Jahangir Hayat LAHORE: Directorate Customs Investigation and Intelligence Anti-Smuggling superintendent has been tested COVID-19 as positive and is…

By M Jahangir Hayat Pakistan needs to take tough economic decisions amid pandemic as it has lost over $6 billion in trade with China, US and EU alone during…

Asks for deferment of gas, electricity, other bills Says 70pc percent wages payment to employees is not an individual's demand Jahangir Hayat LAHORE: The government should introduce Bangladesh like full-fledged bailout package and deferment of gas, electricity and other bills for Pakistani business and industry. Following the unusual and…

Our Special Correspondent LAHORE: Local markets and small & medium industries (SMEs) should be allowed to open for a specific time under strict SOPs…

Jahangir Hayat LAHORE: The Ministry of Commerce (MoC) has proposed opening of Industrial Units with confirmed exports orders under special SOPs amid the…

LAHORE: A Karachi based startup is among eleven businesses from around the world who are the successful applicants of Google’s Accelerator programme on Sustainable Development Goals. These startups address a wide range of social and environmental challenges, and are working toward at least one of the 17 Sustainable Development Goals outlined by…

By Our Special Correspondent LAHORE: Cement Industry has demanded of the newly-appointed Federal Board of Revenue (FBR) Chairperson Nausheen Javed Amjad to…

By Our Special Correspondent LAHORE: Customs authorities have finally come to know that their terminal operators have done away with the Federal Board of…

Jahangir Hayat LAHORE: The government has not announced any packages for the small scale industry and the packages announced are for the large scale. Leather industry is also hit hard by Corona and it should also be considered or employees would lose jobs as the business has come down to zero. This was stated by PALIMA (Pakistan Artificial…

KARACHI: State Bank of Pakistan has taken a number of measures to support the economy, since the outbreak of COVID-19. One of the earliest measures taken by SBP…

Makes Nausheen Javed Chairperson on permanent basis Jahangir Hayat LAHORE: The Federal government on Monday appointed Nausheen Javed as new Federal Board…

LAHORE: Special Assistant to Prime Minister (SAPM) Dr. Firdous Ashiq Awan said on Saturday the government would open the essential industry  in phases to ensure that food-supply chain was not affected in the country. “The government was in consultation with the industry to chalk-out Standard  Operating Procedures (SoPs) regarding health and…

Jahangir Hayat LAHORE: Friends of Economics and Business Reforms (FEBR) president Kashif Anwar has urged the government to take up the issue of…

By Our Staff Correspondent ISLAMABAD: Prime Minister Imran Khan on Friday said that the source of income of those investing in the construction sectors will…

Islamabad: Prime Minister Imran Khan on Thursday said the federal government will announce a relief package for the construction industry on Friday to maintain economic activity in the country. During a tax-refund cheque distribution ceremony in Islamabad, PM Imran said a balance has to be created which benefits the economy and limits the spread…

KARACHI: Given the worsening financial situation owing to the coronavirus-induced lockdown, some retailers and mid-level businessmen have asked their employees…

Developing countries, including Pakistan, will be hit hardest by the economic shockwaves caused by the novel coronavirus crisis that has shaken the world and…

Reduces lending to Rs 540.04b from Rs 546.80 in 2018 By M Jahangir Hayat LAHORE: MCB Bank’s Non-Performing Loans (NPLs) have touched to a record high of Rs49.42 billion in 2019 from Rs 20. 37 billion in 2015, registering a growth of 142 percent in five years increasing the infection ratio, MCB Annual Report 2019 indicated. As per the report…

By M Jahangir Hayat LAHORE: As many as Rs4,000 each would be distributed among 25 lakh families affected by the lockdown due to COVID-19 for which Rs10 billion…

ISLAMABAD: The International Monetary Fund (IMF) Executive Board decided on Friday to allow all member countries with per capita income below the World Bank’s…

M Jahangir Hayat LAHORE: Habib Bank Limited (HBL) Patoki MTO has stolen over Rs 70.5 million cash which was to be uploaded in a nearby Automated Teller Machines (ATMs) and run away, officials sources told Daily The Business on Friday. Sources said that the HBL MTO Fiaz Ahmad slipped away with the cash of over Rs 70.5 million which was to be…

Our Special Correspondent LAHORE: State Bank of Pakistan (SBP) in collaboration with Pakistan Banks Association (PBA) has announced a comprehensive relief…

Our Special Correspondent Lahore: The State Bank of Pakistan (SBP) has allowed all federal and provincial government departments, hospitals in public and…

M jahangir Hayat LAHORE: The State Bank of Pakistan Monetory Policy Committee (MPC) has decided to cut the policy rate by a further 150 basis points to 11 percent which brings the cumulative easing over the past one week to 225 basis points. At its last meeting on 17thMarch 2020, the Monetary Policy Committee (MPC) noted considerable…

Our Special Correspondent LAHORE: SBP held a meeting with banks today,through link, to assess their readiness to SBP takes measures to ensure continuous…

Bank increases provision for NPLs to Rs 45.12 billion from Rs 43.53 billion in 2018 By M Jahangir Hayat LAHORE: The Bank of Punjab (BoP) mounting Non-…

Our Special Correspondent LAHORE : In light of the pandemic faced by the whole nation Punjab Industrial Estates Development & Management Company (PIEDMC) has initiated a campaign in which hand sanitizers will be placed in all the factories and compulsory handwashing will implemented before entering the premises to safeguard the workers,…

Our Special Correspondent LAHORE: To protect internal and external stakeholders, JS Bank has implemented a business continuity plan to fight the spread of…

M Jahangir Hayat LAHORE: In the wake of the time when Habib Bank Limited (HBL) has announced to complete its US New York operation by March 31, 2020, losing…