Business

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi Wednesday witnessed signing of an agreement between Pakistan and Somalia for grant of US$ 10.5 million and provision of technical assistance for development of Somalia’s National Identification System. The signing ceremony here at the Prime Minister Office was attended by Minister for Finance Miftah…

The largest vertical cement grinding mill with cope drive, the cement silos, and the packing plant have all started trial operations. The cement produced in…

LONDON: The merchandise trade volume between Pakistan and the United Kingdom (UK) during the calendar year 2017 has increased to over £ 1.93 billion showing an…

ISLAMABAD: Minister for Planning, Development and Reform Ahsan Iqbal Tuesday said Pakistan’s future lay in knowledge-based economy and that was why the government was investing in the higher education sector. Ahsan Iqbal was chairing a meeting of vice chancellors hosted by the Higher Education Commission (HEC) here to review progress on higher…

The United Arab Emirates' Federal Tax Authority has issued guidance on obtaining refunds of value-added tax (VAT) on new homes. Emirati nationals who incur…

Paris 22nd May, 2018: Multan Carpet Industries has opened its first outlet and warehouse in Paris under the name “Noble Natural” to market Pakistan made…

ISLAMABAD: Pakistan is hosting the Shanghai Cooperation Organization – Regional Anti-Terrorist Structure (SCO-RATS) Legal Experts meeting here from May 22 to 25. According to a Foreign Office press statement issued here on Tuesday, this is the first ever SCO meeting being held in Pakistan since becoming member of SCO in June 2017. The Pakistan is…

Catherine Downey was duped into giving away £4000 by phone fraudsters The mother-of-three was victim to the 'most sophisticated' telephone scam yet The con…

CTC Global (Irvine, CA, US) and Pakistan Cables Ltd. (Karachi, Pakistan) announced May 21 a partnership to produce, distribute, market and sell ACCC electrical…

Have you ever wondered how much your favourite WWE star makes? Well, the salaries of every single WWE superstar have been revealed. It is no surprise to see Brock Lesnar, the current Universal Champion, leading the way, pocketing a cool $12million after bonuses. Lesnar, who woks limited dates, also receives $500,000 per main event and…

ISLAMABAD: It is expected to make Pakistan an outsourcing destination in the region by 2020, and increase IT & ITES exports to exceed US$ 5 billion due to…

ISLAMABAD, May 21 (APP):Senior Vice President (SVP) SAARC Chamber Iftikhar Ali Malik Monday said better exchange, cooperation and building of joint ventures…

Make-up and cosmetics sales in Poland in 2017 topped 2 billion zloty for the first time ever. In 2018 sales in the sector are expected to increase by a further 5 per cent, which according to a report from Euromonitor International, makes Poland’s growth twice as high as any other market in the central and eastern European (CEE) region. Colour…

Jean could not understand how she had ended up so out of pocket and when her efforts to get a refund stalled she came to Crusader. It was last November that…

Hundreds of Marks & Spencer staff will find out as soon as Monday whether their store is closing, as the retailer accelerates its retrenchment from…

By M J Hayat LAHORE: The Bank of Punjab (BoP) has posted a loss after taxation of Rs3.32 billion for the calendar year (CY) 2017 owing to the unreasonably high administrative expenditures of Rs 10.08 billion which is 20 percent additional as compared to the last CY 2016 and provisions against the Non-Performing Loans (NPLs) of Rs 14.13 billion,…

President Donald Trump has demanded China cut its trade deficit with the U.S. by US$200 billion by 2020 or face a host of punishing tariffs. After recent talks…

CHINESE Vice-Premier Liu He announced in Washington at the weekend that China and the United States have reached consensus on economic and trade issues,…

Less than ten days ago, Ethereum World News, ran an article highlighting the dethroning of Bitcoin (BTC) from the number one spot by Ethereum (ETH) that had been predicted by Roger Keith Ver; also known as ‘Bitcoin Jesus’. This act of Ethereum gaining dominance over Bitcoin is known as ‘Flippening’ in the Crypto-verse and has been further defined…

ISLAMABAD: The Federal Board of Revenue (FBR) has filed its reply in the Supreme Court (SC) in respect of suo motu notice regarding tax deduction on mobile card…

LAHORE: ACCA Pakistan hosted an expert discussion on “The Budget 2018–19: Challenges and Opportunities for Economic Reforms” which was aimed at keeping…

LAHORE: The Board of Directors of LG Electronics (LG) approved the acquisition of leading automotive lighting and headlight systems provider ZKW Group, capping a deal worth more than EUR 1.1 billion, LG’s largest acquisition to date. Under the terms of the transaction, LG Electronics will acquire a 70 percent stake in ZKW Group with parent company…

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan have further fallen 3.3 percent in one week to $10.79 billion from $11.16 billion on May…

Pakistan Announces $9.6 Billion Defense Budget The defense budget for the next fiscal year is up 10.22 percentIndia and China are among the world’s top five…

French oil giant Total seeks Iran sanctions waiver from Trump for $2 billion project The French oil giant Total threatened Wednesday to pull out of a $2 billion natural gas project in Iran if President Trump does not give it a waiver from sanctions he reimposed on Iran last week. Total said it was seeking French government support for a license —…

Alibaba has expanded its ecommerce operations into South by acquiring ecommerce business Daraz in an undisclosed deal. Founded by Rocked Internet in 2012 and…