Jul 22

KCCI hails withholding tax exemption to yarn traders

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has hailed the decision of Federal Board of Revenue (FBR) to exempt withholding tax for yarn traders. In a statement issued on Monday President KCCI Junaid Esmail Makda appreciated the FBR for holding numerous meeting with KCCI and taking into consideration KCCI’s suggestion pertaining to exemption of […]

by Mrs. Anjum Shahnawaz

KSE-100 gains 126 points on prime minister’s US visit

Jul 22

Stock & Commodity

KSE-100 gains 126 points on prime minister’s US visit

KARACHI: The share market increased by 126 points on Monday owing to US visit of Prime Minister Imran Khan and activation of market opportunity fund. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,585 points as against 32,459 points showing an increase of 126 points. Analysts at Arif Habib Limited said that […]

by Mrs. Anjum Shahnawaz

Rupee falls by 34 paisas in interbank market

Jul 22

Money & Banking

Rupee falls by 34 paisas in interbank market

KARACHI: The Pak Rupee fell by 34 paisas against dollar on Monday due to higher demand for import and corporate payments. The rupee closed at Rs160.53 to the dollar from last Friday’s closing of Rs160.19 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs160.30 and Rs160.60 to the […]

by Mrs. Anjum Shahnawaz

Hascol, Vitol Dubai enter $42 million financial arrangement

Jul 22

Corporate, Energy

Hascol, Vitol Dubai enter $42 million financial arrangement

KARACHI: Vitol Dubai Limited (VDL) has agreed to provide financial facility of $42 million to Hascol Petroleum Limited, an announcement said on Monday. The announcement informed Pakistan Stock Exchange (PSX) that Hascol Petroleum Limited and Vitol Dubai Limited, a major shareholder of Hascol, had entered into financial arrangement whereby VDL had agreed to provide facilities […]

by Mrs. Anjum Shahnawaz

Imran Khan discusses economic reforms with IMF chief

Jul 22

Finance

Imran Khan discusses economic reforms with IMF chief

WASHINGTON: Prime Minister Imran Khan on Sunday met David Lipton, Acting Managing Director of International Monetary Fund to discuss economic reform program. David Lipton, Acting Managing Director of the International Monetary Fund (IMF), issued the following statement today, following his meeting with the Prime Minister of Pakistan, Imran Khan: “I was pleased to meet Prime […]

by Mrs. Anjum Shahnawaz

Imran Khan invites investors to benefit from Pakistan’s business opportunities

Jul 22

National

Imran Khan invites investors to benefit from Pakistan’s business opportunities

KARACHI: Prime Minister Imran Khan has invited overseas businessmen and investors to benefit from the economic and business opportunities afforded by Pakistan’s strategic location and the connectivity to the broader region. He was talking to a group of prospective investors that led by Javaid Anwar, a leading Pakistani-American businessman, called on the prime minister at […]

by Mrs. Anjum Shahnawaz

SBP issues revised instructions for foreign currency dealings

Jul 22

Money & Banking

SBP issues revised instructions for foreign currency dealings

KARACHI: State Bank of Pakistan (SBP) has amended Foreign Exchange Manual and issued revised Chapter 11 of the manual related to dealings in foreign currency notes and coins etc. by the authorized dealers including banks and exchange companies. Following is the revised chapter 11 issued by the SBP dated July 16, 2019: 1. Introduction. Authorized […]

by Mrs. Anjum Shahnawaz