Sindh shuts educational institutions till May 30 on coronavirus threat

Mar 12

National

Sindh shuts educational institutions till May 30 on coronavirus threat

KARACHI: The Sindh government on Thursday decided to extend the closure of educational institutions up to May 30, 2020 as prevention measures against coronavirus pandemic. Sindh Chief Minister Syed Murad Ali Shah presiding over special cabinet meeting decided to keep the educational institutions closed up to May 30, 2020. This will be treated as summer […]

by Mrs. Anjum Shahnawaz

SECP issues advisory for companies on coronavirus threat

Mar 12

Stock & Commodity

SECP issues advisory for companies on coronavirus threat

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Thursday issued advisory for companies to protect from coronavirus threat. In light of the threat posed by the evolving COVID-19 situation (Corona Virus) and to protect the wellbeing of shareholders, the SECP advised all companies to modify their usual planning for annual general meetings. Meeting of […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves increase to $18.906 billion

Mar 12

Finance

Foreign exchange reserves increase to $18.906 billion

KARACHI: The foreign exchange reserves of the country increased by $37 million to $18.906 billion by week ended March 06, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves were at $18.869 billion a week ago. The official reserves of the central bank increased to $12.789 billion by week ended March […]

by Mrs. Anjum Shahnawaz

Rupee falls 71 paisas on financial crisis

Mar 12

Money & Banking

Rupee falls 71 paisas on financial crisis

KARACHI: The Pak Rupee declined by another 71 paisas against dollar on Thursday amid global financial crisis have been deepened after World Health Organization (WHO) declared coronavirus as global epidemic. The rupee ended Rs159.14 to the dollar from previous day’s closing of Rs158.43 in interbank foreign exchange market. The local currency fell by Rs4.89 or […]

by Mrs. Anjum Shahnawaz

Stock market faces another crash; ends down by 1717 points

Mar 12

Stock & Commodity

Stock market faces another crash; ends down by 1717 points

KARACHI: The stock market crashed on Thursday following deterioration in world stock markets after World Health Organization (WHO) declared coronavirus as global pandemic. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) failed to sustain 36,000 level and ended down by 1717 points to 35,956 points. The benchmark index witnessed sharp decline on Monday this […]

by Mrs. Anjum Shahnawaz

Trading at PSX halts; KSE-100 falls 1324 points

Mar 12

Stock & Commodity

Trading at PSX halts; KSE-100 falls 1324 points

KARACHI: The trading activities at Pakistan Stock Exchange (PSX) halted as KSE-30 index fell more than 4 percent in intraday on Thursday. The benchmark KSE-100 index also witnessed 1324 points or 3.64 percent decline during intraday trading. The KSE-100 has come down and is trading at 36,348 points. The PSX is also following the global […]

by Mrs. Anjum Shahnawaz

No refund payment made on fake claims: FBR

Mar 12

Taxation

No refund payment made on fake claims: FBR

KARACHI: Federal Board of Revenue (FBR) has said that it had never paid refunds against fake claims. In a statement issued on Thursday, the FBR clarified the news item about loss of revenue caused due to issuance of refund claims on fake registration by FBR published by some section of press and stated that no […]

by Mrs. Anjum Shahnawaz

US stocks tumble as coronavirus declared pandemic

Mar 12

World

US stocks tumble as coronavirus declared pandemic

The US stock indices plunged on Wednesday after World Health Organization (WHO) declared coronavirus. This is the second major fall in just three days and wipe out Tuesday’s recovery. The major indices ended down included: Dow Jones plunged by 1465 points or 5.9 percent to close at 23,553 points. The S&P 500 fell by 4.9 […]

by Mrs. Anjum Shahnawaz

Mar 12

World

World services trade to further weaken on coronavirus impact: WTO

KARACHI: World Trade Organization (WTO) has said ongoing weakness in world service trade likely to worsen due to economic impact of the COVID-19 virus. “World services trade growth continued to weaken toward the end of 2019 and into the first quarter of 2020,” according to the WTO’s Services Trade Barometer, released on 11 March 2020. […]

by Mrs. Anjum Shahnawaz

Foreign transactions through debit, credit cards generate Rs670 million income tax

Mar 12

Taxation

Foreign transactions through debit, credit cards generate Rs670 million income tax

KARACHI: The revenue authorities have collected Rs670 million as income tax from foreign transactions through debit or credit card during first eight months of current fiscal year. The tax was collected by Regional Tax Office (RTO)-II Karachi. The tax office collected only Rs83 million in the corresponding period of the last fiscal year. The collection […]

by Mrs. Anjum Shahnawaz