Headline inflation increases by 11.4 percent in September

Oct 2

Finance

Headline inflation increases by 11.4 percent in September

ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has increased by 11.4 percent in the month of September 2019, said Pakistan Bureau of Statistics (PBS) on Wednesday. It said that CPI inflation general with base year 2015-2016, increased by 11.4 percent on year-on-year basis in September 2019 as compared to an increase of […]

by Mrs. Anjum Shahnawaz

Oil sales show continuous decline for 8th consecutive quarter

Oct 2

Energy

Oil sales show continuous decline for 8th consecutive quarter

KARACHI: The oil sales witnessed continued downward trend in first quarter of fiscal year 2019/2020 for 8th consecutive quarter and posted fall of 13 percent Year on Year (YoY). Major decline was witnessed in Furnace Oil (FO) and Hi Speed Diesel (HSD) to the extent of 29 percent and 16 percent YoY, respectively, analysts at […]

by Mrs. Anjum Shahnawaz

Karachi Chamber expresses concerns over pathetic performance of new refund issuance module

Oct 2

Trade & Industry

Karachi Chamber expresses concerns over pathetic performance of new refund issuance module

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has expressing deep concerns over the poor and pathetic performance of the recently launched Fully Automated Sales Tax e-Refunds (FASTER) module. In a statement on Wednesday he stated that FBR claimed of processing payments of Sales Tax Refunds for the tax period […]

by Mrs. Anjum Shahnawaz

Stock market gains 109 points in narrow range trading

Oct 2

Stock & Commodity

Stock market gains 109 points in narrow range trading

KARACHI: The stock market ended with gain of 109 points on Wednesday while trading in a narrow range activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,363 points as against 32,254 points showing an increase of 109 points. Analysts at Arif Habib Limited said that the market traded in a narrow […]

by Mrs. Anjum Shahnawaz

Oct 2

Money & Banking

Rupee ends firmer against dollar

KARACHI: The Pak Rupee ended firmer against dollar on Wednesday amid lackluster demand for the foreign currency against import and corporate payments. The rupee ended Rs156.35 to the dollar from previous day’s closing of Rs156.36 in interbank foreign exchange market. Currency dealers said that the foreign currency witnessed lower demand for import and corporate payment. […]

by Mrs. Anjum Shahnawaz

Karachi Chamber demands complete ban on car imports

Oct 1

Trade & Industry

Karachi Chamber demands complete ban on car imports

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has demanded complete ban on import of luxury cars and those goods, which are already available in Pakistan. Speaking at the 58th Annual General Meeting of KCCI, Chairman BMG, Siraj Teli commented on the economic issues being faced by the country pointed out that Karachi Chamber […]

by Mrs. Anjum Shahnawaz

Oct 1

World

WTO sharply downgrades global trade growth forecast

KARACHI: World Trade Organization (WTO) has sharply downgraded the global trade growth forecast for 2019 and 2020. “World merchandise trade volumes are now expected to rise by only 1.2 percent in 2019, substantially slower than the 2.6 percent growth forecast in April,” the WTO said in a press release on Tuesday. The projected increase in […]

by Mrs. Anjum Shahnawaz

Oct 1

Taxation

FBR eyes 5 million return filers

ISLAMABAD: Federal Board of Revenue (FBR) is eyeing five million return filers during next two years after achieving 2.6 million return filers for tax year 2018. The FBR attributed the high number of return filers to its helpline, which is facilitating the taxpayers in filing their returns. “The success of FBR Helpline can be gauged […]

by Mrs. Anjum Shahnawaz

Stock market gains 175 points as buying seen in many scrips

Oct 1

Stock & Commodity

Stock market gains 175 points as buying seen in many scrips

KARACHI: The stock market gained 175 points on Tuesday as buying was seen in many scrips. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,254 points as against 32,079 points showing an increase of 175 points. Analysts at Arif Habib Limited said that the market performed well today with an increase of […]

by Mrs. Anjum Shahnawaz

Oct 1

Money & Banking

Rupee ends flat amid inflows

KARACHI: The Pak Rupee ended flat against dollar on Tuesday despite inflows of remittances and export receipts. The rupee ended Rs156.36 to the dollar from previous day’s closing of Rs156.37 in interbank foreign exchange market. Currency dealers said that the foreign inflows appreciated the rupee value during the day. However, the higher demand offset the […]

by Mrs. Anjum Shahnawaz