The Federal Cabinet has reportedly approved ''mini budgets'' to be introduced in the months to come under the rubric of additional revenue and administrative measures, reveal official documents exclusively made available to Business Recorder.
The Federal Cabinet has reportedly approved 'mini budgets' to be introduced in the months to come under the rubric of additional revenue and administrative measures, reveal official documents exclusively made available to Business Recorder.
The Federal Cabinet has reportedly approved 'mini budgets' to be introduced in the months to come under the rubric of additional revenue and administrative measures, reveal official documents exclusively made available to Business Recorder.
World Health Organisation (WHO) has expressed serious concern over nominal increase in the federal excise duty (FED) on cigarettes and withdrawal of excise duty on cigarette rods with no restoration of the supervised clearance system at the multinational
World Health Organisation (WHO) has expressed serious concern over nominal increase in the federal excise duty (FED) on cigarettes and withdrawal of excise duty on cigarette rods with no restoration of the supervised clearance system at the multinational
World Health Organisation (WHO) has expressed serious concern over nominal increase in the federal excise duty (FED) on cigarettes and withdrawal of excise duty on cigarette rods with no restoration of the supervised clearance system at the multinational
Ministry of Law and Justice here on Tuesday legally endorsed the Federal Board of Revenue''s measures to impose capital gains tax (CGT) on sale of property, confirming that the federal government has the authority to collect gains on the sale of immovable
Ministry of Law and Justice here on Tuesday legally endorsed the Federal Board of Revenue's measures to impose capital gains tax (CGT) on sale of property, confirming that the federal government has the authority to collect gains on the sale of immovable
Ministry of Law and Justice here on Tuesday legally endorsed the Federal Board of Revenue's measures to impose capital gains tax (CGT) on sale of property, confirming that the federal government has the authority to collect gains on the sale of immovable
US Defence Secretary Leon Panetta encouraged India to play a "more active role" in Afghanistan during talks Tuesday in New Delhi, US officials said. Washington has previously worried about India antagonising its arch-foe Pakistan and preferred New Delhi r
US Defence Secretary Leon Panetta encouraged India to play a "more active role" in Afghanistan during talks Tuesday in New Delhi, US officials said. Washington has previously worried about India antagonising its arch-foe Pakistan and preferred New Delhi r
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Tuesday (June 05, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for
Cocoa farmgate prices in Ivory Coast's principal growing regions declined last week as falling prices on the futures market sapped export demand, farmers and buyers said on Tuesday. Mid-crop harvesting in the world's top cocoa producer is beginning to pic
US soyabean exports will increase by nearly 40 percent from September 2012 to February 2013 to compensate for the shortfall in the South American crop which has been hit by drought, German-based analyst Oil World said on Tuesday. "Insufficient South Ameri
Spot basis bids for hard red winter wheat were steady to firm in the US Plains on Tuesday, supported by demand from elevators and a lack of farmer selling, dealers said. Combines were starting to roll again after a wet weekend slowed the harvest.
Tea prices in Bangladesh rose for a third straight week on Tuesday at a weekly auction on strong demand from buyers in spite of higher volumes on offer, brokers said. The average price of Bangladeshi tea was 215.05 taka ($2.6) a kg against 202.77 taka per
Vietnam's coffee exports this month could fall to between 100,000-110,000 tonnes (1.67-1.83 million bags) from 150,000 tonnes shipped in May as stocks are thin, traders said on Tuesday. Lower exports from Vietnam, a sign of tightening robusta supply, coul
The Karachi Port handled 96,716 tonnes of cargo comprising 50,159 tonnes of import cargo and 46,557 tonnes of export cargo including 7,203 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 50,159 tonn
As a result of depleting stock, rates went up on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The July vaida that had closed at Rs 850.70 commenced with a gain of 20 paisa at Rs 850.90. The December contract which
Lack of buying interest among mills and spinners was again seen on the cotton market on Tuesday, dealers said. Official spot rate was unchanged at Rs 5,500, they added. In ready business only 600 bales of cotton changed hands between Rs 5300-5600, they sa
After announcement of budget 2012-13, traders and hoarders threw on the market their huge stock of grams, which caused fall in the prices, dealers said on the wholesale grain market on Tuesday. Explaining the decline in the grams prices some commodity exp
The pace of growth in the vast US services sector edged up in May driven by gains in new orders, a welcome comfort after recent disappointing economic data. The Institute for Supply Management (ISM) said on Tuesday its services index edged up to 53.7 from
South Korea's Samsung Electronics unveiled notebook and tablet computers running on Windows 8 Tuesday, the latest firm to showcase products that use Microsoft's eagerly-awaited new operating system. On the opening day of Asia's leading IT fair in Taipei,
A flock of "vulture" funds is gathering in Madrid in the hope that a banking sector shakeout will finally deliver a bonanza of real estate and distressed company assets at rock bottom prices. Hedge funds and private equity houses are renewing ties with Sp
A flock of "vulture" funds is gathering in Madrid in the hope that a banking sector shakeout will finally deliver a bonanza of real estate and distressed company assets at rock bottom prices. Hedge funds and private equity houses are renewing ties with Sp
Investors were less optimistic on the outlook for US Treasury debt in the latest week, although with benchmark yields trading not far off record lows, most maintained a neutral position, a survey showed on Tuesday. The share of investors who said they wer
Investors were less optimistic on the outlook for US Treasury debt in the latest week, although with benchmark yields trading not far off record lows, most maintained a neutral position, a survey showed on Tuesday. The share of investors who said they wer
US debt is on track to double the size of the entire economy in the next 25 years, the non-partisan Congressional Budget Office reported Tuesday in its grim view of America's fiscal future. The CBO said that under present policy, in which current tax rate
China's services industry expanded at its fastest pace for 19 months in May, with new business and optimism about the future robust, according to a private-sector survey of purchasing managers published on Tuesday. The outcome is a stark contrast to May s
Australia's central bank cut interest rates for a second month running on Tuesday in a bid to shore up confidence at home, just as finance chiefs of advanced economies around the world prepare to hold emergency talks on the euro zone debt crisis. Citing a
Consumers in the eurozone held back from spending by more than expected in April, sending retail sales falling by the biggest margin so far this year, as rising unemployment eats into households' ability to splash out on cars and clothes. Sales at shops i
All of the eurozone's major economies are now in various states of decline, according to business surveys that suggested even Germany is no longer immune to the tremors emanating from the likes of Greece and Spain. Tuesday's purchasing managers indexes (P
EU agriculture ministers railed Tuesday against a political stalemate over the bloc's budget, warning that planned reform to ensure funding goes to "green" farmers risks huge delays. "It's almost certain that we will not be able to implement [the reform]
Spain said on Tuesday that credit markets were closing to the eurozone's fourth biggest economy as finance chiefs of the Group of Seven major economies conferred on the currency bloc's worsening debt crisis but took no joint action.
Indian shares edged higher for a second consecutive session on Tuesday as continued hopes for rate cuts boosted banks, while infrastructure shares such as Larsen & Toubro rose on optimism for a revival in stalled projects. Broader gains in indexes were pa
Japan's Nikkei average sprang back on Tuesday from four straight sessions of losses as investors snapped up big name bargains ahead of emergency talks between the G7 industrialised nations to tackle a deepening euro zone crisis. The Nikkei advanced 1 perc
The S&P 500 ended flat on Monday after recent sharp losses, though worries about the European debt crisis and weaker US data kept investors wary of equities. Signs of economic weakness around the globe and Europe's intensifying debt crisis have rattled in
US Treasuries prices fell on Monday as traders took profits on a recent rally that last week pushed yields to historic lows. Selling was limited, however, as a myriad of uncertainties ahead for the global economy and monetary policy underpinned some reluc
US Treasuries prices fell on Monday as traders took profits on a recent rally that last week pushed yields to historic lows. Selling was limited, however, as a myriad of uncertainties ahead for the global economy and monetary policy underpinned some reluc
Thai stocks fell to their lowest level in four months on Tuesday as growing political tension prompted broad based selling, but other Southeast Asian share markets pushed higher, helped by hopes for more action on the euro zone debt crisis. Thailand's ben
Seoul shares rebounded to climb back above 1,800 points on Tuesday, halting a four-day slide, as investors looked to the Group of Seven industrialised nations to take decisive action in tackling Europe's resurgent debt crisis. The Korea Composite Stock Pr
Battered Hong Kong shares rose slightly on Tuesday, partly on short-covering ahead of emergency G7 talks on the euro zone debt crisis, although investors remained reluctant to take on fresh positions because of the increasingly gloomy global outlook. The
Taiwan stocks rose 1.5 percent on Tuesday, paced by Acer and other computer firms, as investors were encouraged by news the G7 will hold emergency talks on the eurozone debt crisis that has triggered a heavy sell-off in global markets. Boosting market con
Australian shares bounced off six-month lows to close 1.5 percent higher on Tuesday on hopes for urgent action to tackle the euro zone debt crisis, but investors fled Qantas Airways after a shock profit warning from the national carrier. Qantas lost a fif
European shares rose on Tuesday after a choppy, nervous session as investors tentatively bought into beaten-down shares on hopes for global central bank policy action to revive the economic recovery. The Euro STOXX 50 closed up 0.4 percent at 2,087.31, ex
The Australian and New Zealand dollars rebounded from multi-month lows on Tuesday, amid hopes the eurozone would take steps to contain the region's debt crisis. The Australian dollar rose to $0.9795, from $0.9733 in New York, further underpinned by some s
The euro extended gains to a one-week high on Tuesday as some sellers pared back their huge bets against the currency ahead of a conference call by the Group of Seven financial policy makers on the European debt crisis. Although market players remain scep
The euro fell on Tuesday as a Spanish minister said high borrowing costs meant credit markets were closing to Spain, though losses were limited before an emergency conference call of Group of Seven finance chiefs. The G7 ministers and central bankers will
The euro slipped on Tuesday as Spain's treasury minister said high borrowing costs meant credit markets were closing to Spain and investors received little comfort from an emergency conference call of Group of Seven finance chiefs. The dollar climbed to a
The euro rebounded from last week's record lows against the dollar and yen on Monday as investors pared bearish bets on hopes that European authorities will seek greater fiscal integration within the eurozone. The euro, which was ripe for a bounce given a
Interbank buy/sell rates for the taka against the dollar on Tuesday. 81.92-81.94 (previous 81.91-81.94). Call Money Rates: 9.25-15.00 percent (previous 9.25-15.00 percent).
The yuan closed flat on Tuesday after rising in morning trading as traders took advantage of a weaker dollar index in the afternoon. The People's Bank of China (PBOC) has fixed the yuan midpoint at successively stronger levels for the last three trading d
Most emerging Asian currencies nudged higher and the Taiwan dollar pulled away from a four-month low on Tuesday as investors took a break from the incessant selling of the past few weeks to await the outcome of emergency G7 talks on the euro zone's debt c
Investors charged banks and bond dealers less to borrow dollars on Tuesday as they showed more willingness to part with cash on hopes the world's top economies make progress in containing the euro zone's debt crisis. Finance ministers from the Group of Se
The Swiss franc rose to its strongest in a week against the dollar on Tuesday, as the euro extended its rebound on optimism a conference call by Group of Seven policymakers might yield some progress in tackling Europe's debt crisis. Although a major break
Australia's Samantha Stosur will take on Sara Errani of Italy in the French Open semi-finals after both won through in straight sets on Tuesday. US Open champion Stosur powered past Dominika Cibulkova of Slovakia 6-4, 6-1, while 21st seed Errani saw off A
Roger Federer reached a record-equalling 31st Grand Slam semi-final Tuesday, surviving a brutal French Open barrage from frail Argentine Juan Martin del Potro before clinching a 3-6, 6-7 (4/7), 6-2, 6-0, 6-3 triumph. Third seed Federer, the 16-time Grand
Disappointed Chinese tennis fans flooded the country's top Twitter-style microblog site with 11 million messages Tuesday as they grappled with defending champion Li Na's shock French Open defeat. Reactions ranged from sympathy to contempt after the combus
Football chiefs have ruled out taking action after Uzbekistan were apparently denied a legitimate goal during their 1-0 World Cup qualifying loss to Iran. World body FIFA said the referee's decision was final despite TV replays which indicated the ball cr
Sally Pearson had a season to remember last year, winning all but one of her 11 races, producing seven of the quickest 11 performances and claiming world gold in the fourth fastest time ever run. The 25-year-old Australian 100m hurdler was rewarded with t
Two years ago Dutch playmaker Wesley Sneijder almost completed the perfect season as his club side Inter Milan won the Champions League as well as a domestic league and Cup double. And he then lined up in the World Cup final for Holland but a goal from An
An Indian civil engineer has complained about bias within cricket's governing body after his rival method to the Duckworth-Lewis (D/L) system for rain-affected games was rejected. V. Jayadevan, who invented the "VJD system" as a different way to calculate
Britain's Nathan Robertson, a former Olympic silver medallist, announced his retirement from badminton on Tuesday. The 35-year-old, who won the mixed doubles silver medal with Gail Emms in Athens eight years ago, decided to hang up his racquet after his f
Japan international Shinji Kagawa is set to become Manchester United's first summer signing after the Premier League club confirmed Tuesday they have "reached agreement" with his club Borussia Dortmund. "Manchester United is delighted to announce that it
Former captain Chris Gayle has been recalled by the West Indies after more than a year out of the side for the One-day international series against England later this month. The 32-year-old, a dynamic opening batsman, is back in the squad after a 14-month
Sudan on Tuesday launched a furious attack on International Criminal Court prosecutor Luis Moreno-Ocampo as he called for stronger action to arrest President Omar al-Bashir in his final appearance before the UN Security Council. Ocampo, who stands down as
A Swiss pilot flew a solar plane across the Strait of Gibraltar from Spain into Moroccan airspace Tuesday on the world's first intercontinental flight in a plane powered by the sun. Bertrand Piccard, a 54-year-old psychiatrist and balloonist, took off bef
Clashes between troops and rebels in Syria's western Latakia province killed 15 soldiers on Tuesday, the Syrian Observatory for Human Rights reported, bringing the day's death toll to at least 34. "Fifteen soldiers were killed and dozens wounded, while th
Syria has granted international relief workers access to four key sites after agreeing to a $180-million plan to help one million needy people, the United Nations said on Tuesday. The UN Office for the Co-ordination of Humanitarian Affairs (OCHA) said pla
Syria's government banned 17 Western diplomats and its helicopter gunships pounded rebels in a coastal province on Tuesday as President Bashar al-Assad defied international pressure to halt his campaign to crush the uprising against his rule.
US Secretary of State Hillary Clinton announced plans Tuesday to help Georgia improve its defences with helicopter upgrades and military training programmes, nearly four years after its war with Russia. Clinton has used her two-day visit to this Black Sea
Palestinians on Tuesday staged small demonstrations to mark the 45th anniversary of the Six Day War in which Israel seized the West Bank and Gaza Strip. Near the West Bank city of Ramallah, around 200 people protested by the Ofer military prison, with cla
Astronomers around the world will train their telescopes on the skies Tuesday to watch Venus pass in front of the Sun, a once-in-a-lifetime event that will not be seen for another 105 years. The nearly seven-hour passage of the planet between the Earth an
Five leading US global companies, including Coca-Cola and Ford, unveiled Tuesday a joint effort to develop 100 percent plant-based plastics in their products, cutting the use of fossil fuels. Coca-Cola, Ford, Heinz, Nike and Procter & Gamble said they wer
Crowds of Egyptians packed Cairo's iconic Tahrir Square on Tuesday for a mass demonstration to protest against verdicts handed down in ex-president Hosni Mubarak's murder trial. Thousands of marchers poured into the square led by the runners-up in last mo
Queen Elizabeth II greeted 1.5 million cheering subjects from the balcony of Buckingham Palace on Tuesday but faced the crowning moment of her diamond jubilee festivities without her ill husband. A dramatic flypast capped four days of celebrations marking
A Russian opposition party on Tuesday deliberately stalled the passing of a controversial bill that would greatly increase fines for protesters by calling for votes on hundreds of amendments. In a highly unusual spectacle in the usually rubber-stamp parli
Antoine Bernheim, a top financier who helped shape French capitalism from the 1960s to the 1990s and who twice was chairman of Italian insurance giant Generali, has died aged 87, an associate said Tuesday. Bernheim joined the board of Generali in 1973 and
A senior Chinese official demanded on Tuesday that foreign embassies stop issuing air pollution readings, saying it was against the law and diplomatic conventions, in pointed criticism of a closely watched US embassy index. The level of air pollution in C
Cotton futures ended down on Tuesday near a 3-year low for the third consecutive session in the face of bumper supplies and a weak global economic outlook, said brokers who expected the market to remain on the defensive.
Cocoa futures ended at a 2-week high on Tuesday amid talk that a crop disease may have struck a leading producer of the commodity, while raw sugar rose and arabica coffee futures declined as business remained subdued by a holiday in Britain.
Shanghai copper rose on Tuesday after hitting its lowest level so far this year in the previous session, buoyed by hopes that policymakers from the Group of Seven leading industrialised nations will take action to ease the euro zone debt crisis.
Brent crude prices dipped a penny on Tuesday, while US crude rose a second day as supportive US service sector data countered pressure from another batch of weak euro zone data that reinforced concerns about future demand for petroleum.