Transparency concerns heighten after government’s decision to keep terms of foreign loans secret By: Web Desk on April 23, 2019Under the tutelage of the de-facto adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh the government is expected to launch the Economic Survey of the first year of the PTI government a day before the announcement of the budget.Pakistan Tehreek-e-Insaf led government has decided to drop the details of $3.7 billion commercial loans from the Statistical Supplement of the Pakistan … [Read more...] about Transparency concerns heighten after government’s decision to keep terms of foreign loans secret
PSX starts week on bearish note, sheds 391 pointsBy: Staff Report on April 22, 2019Pakistan equities closed Monday on a negative note with benchmark KSE-100 Index losing 391 points, closing at 36,902 levels, down 1 percent.The local bourse remained volatile throughout the trading session making a high and a low of +187 & -453 points, respectively. From the Oil Marketing Company (OMC) sector, Sui Northern Gas pipelines Limited (SNGP) (+0.1%) closed positive after … [Read more...] about PSX starts week on bearish note, sheds 391 points
PAJCCI lauded across the border for action against delayed clearance of containers and trucksBy: Staff Report on April 22, 2019The continuous efforts of PAJCCI across the border ultimately realized in clarifying back log of trucks and containers alongside Torkham border, which was intermittently pending since eight months. This unlawful detention not only devastated trust but has led to a shortage of containers and trucks in Pakistan leading to exorbitant rates imposed by shipping lines and bonded carriers along with the … [Read more...] about PAJCCI lauded across the border for action against delayed clearance of containers and trucks
Oil prices spike as US prepares to end waiver of Iran sanctionsBy: Agencies on April 22, 2019The United States is expected to announce on Monday that all buyers of Iranian oil will have to end their imports shortly or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent rise in crude prices.The source confirmed a report by a Washington Post columnist that the administration will terminate the sanctions waivers it granted to some importers of … [Read more...] about Oil prices spike as US prepares to end waiver of Iran sanctions
UBL leads digital revolution in PakistanBy: News Desk on April 22, 2019As part of the Bank's Digital Agenda, UBL was the Title Sponsor of the 12th International Mobile Commerce Conference, held at a local hotel in Karachi on 18 April 2019. This half-day conference focused on Digital Transformation and how financial institutions like banks are using digital technology as enabler of digital commerce. Leading local and international experts from banks and the digital … [Read more...] about UBL leads digital revolution in Pakistan
Ghosn hit with fresh charge in Japan, files for bailBy: Agencies on April 22, 2019Japanese authorities Monday hit former Nissan boss Carlos Ghosn with a fresh charge of aggravated breach of trust, the fourth formal indictment against the auto sector tycoon who immediately filed for bail.The Tokyo District Court confirmed that prosecutors had filed the new indictment and hours later said that Ghosn's crack legal team had filed a request for the executive to be released on … [Read more...] about Ghosn hit with fresh charge in Japan, files for bail
Govt has no intention to remove FED for cars 1700cc and aboveBy: News Desk on April 22, 2019There is fake news in the market about the removal of the 10% federal excise duty (FED) on all cars above 1700cc. Our sources confirmed that there is no such intention by the Government or the FBR on the removal of 10% FED. Local cars that have an engine displacement of 1700cc and above will continue to pay the 10% FED which means a higher price for all car manufacturers. The imposition of 10% FED … [Read more...] about Govt has no intention to remove FED for cars 1700cc and above
Tech, green features, power mix to boost luxury car salesBy: Agencies on April 22, 2019US auto sales may be slowing, but carmakers have high hopes for luxury vehicles, which are imbued with increasingly sophisticated gadgetry and sex appeal to seduce a new generation of millionaires.Luxury car companies brought their "A" game to the New York International Auto Show, which opened Friday with a mix of new models, some featuring envelope-pushing technology and others pitched as … [Read more...] about Tech, green features, power mix to boost luxury car sales
Inflation nightmare returns to haunt ZimbabweBy: Agencies on April 22, 2019The price of bread almost doubled for Zimbabweans last week, as the inflation nightmare that marked the rule of long-time authoritarian leader Robert Mugabe returns to haunt his successor Emmerson Mnangagwa.There have been warnings of the mental and physical toll the rampant price increases will have on Zimbabweans after the cost of a loaf of bread rose from $1.80 to $3.50, and a tub of butter … [Read more...] about Inflation nightmare returns to haunt Zimbabwe
Mali hopes to cotton on to added valueBy: Agencies on April 22, 2019For five months straight the farm hands in the Malian village of Siby walk out together to the cotton fields, a clean sack in hand, for a long day of the meticulous work of picking the crop.In this field not far from the border with Guinea, several teams are out from daybreak to sunset, the first link in a global production chain that takes the cotton from the plantation to consumers."For … [Read more...] about Mali hopes to cotton on to added value
