The government will introduce new tax policy to raise tax-to-GDP ratio to 10 percent in 2013-14 through measures envisaging re-imposition of Federal Excise Duty (FED) on a number of items, withdrawal of domestic sales tax zero-rating on all items, taxatio
The government will introduce new tax policy to raise tax-to-GDP ratio to 10 percent in 2013-14 through measures envisaging re-imposition of Federal Excise Duty (FED) on a number of items, withdrawal of domestic sales tax zero-rating on all items, taxatio
The government will introduce new tax policy to raise tax-to-GDP ratio to 10 percent in 2013-14 through measures envisaging re-imposition of Federal Excise Duty (FED) on a number of items, withdrawal of domestic sales tax zero-rating on all items, taxatio
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
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
US hard red winter wheat cash bids in the southern Plains were steady on Monday in quiet country dealings. The market was on edge because foreign buyers were evaluating news that experimental genetically modified wheat, long thought dead, was found growin
The July vaida extended losses while the December vaida retained week-end level on the forward cottonseeds oilcake market on Monday in process of trading, dealers said. The July vaida ended at Rs 998.50, they said. The next day, the business commenced wit
Official spot rate was higher on the cotton market on Monday in the process of modest trading, dealers said. The official spot rate was up by Rs 50 Rs 6,450, they said. In the ready business, over 2,000 bales of cotton sold between Rs 6350-6800 as ginners
Rice and seeds prices moved cautiously on the wholesale grain market on Monday in the process of lean business, dealers said. On the rice sector, Irri-6 Sindh low type rose by Rs 25 to Rs 3625 and the best type was higher by Rs 50 to Rs 3750, other items
Algeria's total wheat imports dropped 7.32 percent to 1.873 million tonnes but were up 11.5 percent in value in the first four months of this year, compared with the same period in 2012, official figures showed on Monday. Soft wheat purchases fell 4.7 per
Indian oilseeds and soyaoil futures edged up on Monday on short-covering, driven by gains in the world market and on a weak rupee, though timely progress of the monsoon capped the upside. At 0758 GMT, the benchmark Malaysian palm oil contract was down 0.1
Saudi Arabia bought 410,000 tonnes of hard wheat (12.5 percent protein minimum) and 115,000 tonnes of soft wheat (11 percent protein minimum) for shipment between September and October, from Toepfer, the Grain Silos and Flour Mills Organisation said on Mo
Indian sugar futures hit an 11-day high on Monday on expectations of higher buying by stockists and concerns over output of the sweetener in the top-producing Maharashtra state due to a drought, though ample supplies restricted the upside.
The Karachi Port handled 250,332 tonnes of cargo comprising 189,740 tonnes of import cargo and 60,592 tonnes of export cargo including 5,621 loaded and empty containers during the last 48 hours ended at 0700 hours on Monday. The total import cargo of 189,
Inequality is on the rise in most advanced economies, the International Labour Organisation lamented Monday, decrying surging executive compensation and large companies hording profits rather than investing. The world economy is slowly recovering from the
British water firm Severn Trent has rejected an improved 5-billion-pound ($7.6 billion) bid proposal from a consortium led by a Kuwaiti sovereign wealth fund and two pension companies, saying the price fails to recognise its long-term potential.
The UAE emirates of Abu Dhabi and Dubai said Monday they have merged their two aluminium smelters to form a $15 billion entity that would be the world's fifth largest producer of the metal. Emirates Aluminium (Emal) and Dubai Aluminium (Dubal) will be mer
Spain is on track to salvage its bad loan-ridden banking sector with a huge European rescue loan but a biting recession and the nation's high debt levels pose risks, the European Union and IMF warned Monday. Spain has so far used 41.3 billion euros ($54 b
The eurozone economy is on track for a recovery later this year driven by the European Central Bank's loose monetary policy and demand from abroad, the bank's President Mario Draghi said. The ECB cut interest rates to a new record low in May and said it w
Myanmar's 800-kilometre gas pipeline from the western coast to the Chinese border has been completed on schedule, officials said Monday. The Chinese-built, 2.5-billion-dollar project comprises two pipelines across central Myanmar. "The Myanmar-China natur
NYSE Euronext shareholders approved Monday their $8.2-billion acquisition by the InterContinentalExchange, which will create the world's biggest exchange operator. NYSE Euronext shareholders representing 64 percent of the company's stock voted to approve
Swiss-based Glencore Xstrata has dismissed 1,000 workers who staged wildcat strikers at its South African chrome operations last week, the firm said Monday, amid continuing tensions between rival unions in the key mining sector. "These thousand people hav
Global airlines have agreed on a proposal for tackling aircraft emissions in a bid to break international deadlock over an issue that has stoked fears of a carbon trade war. Airlines representing 85 percent of global traffic urged governments to adopt a s
An improving housing market spurred pickup truck sales and helped boost US auto sales in May after a disappointing April, automakers reported on Monday. The three major US automakers dominate pickup truck sales, which generally are sold at a higher profit
Manufacturers in the United States, China and Europe struggled last month as demand fell, suggesting an ailing world economy that still needs a steady diet of central bank support. Output at US factories declined in May for the first time in six months, t
Dubai's rally stalled on Monday but trading volumes surged as investors chased expectations of a possible upgrade for the United Arab Emirates (UAE) by index compiler MSCI. Saudi banks rallied to a 12-month high, helping lift the bourse. Dubai's index sli
Seoul shares fell on Monday as foreign investors turned net sellers after a weak survey on manufacturing in China added to worries about economic growth and made investors more cautious ahead of key data from the United States this week. "Market atmospher
The Nikkei share average tumbled 3.7 percent to a six-week low on Monday as weak Chinese factory activity and concern that the US Federal Reserve may scale back stimulus earlier than expected weighed on investors. The Nikkei dropped 512.72 points to 13,26
US stocks were mostly lower in choppy trade on Monday as the latest data on manufacturing continued to paint a mixed picture on the strength of the economy. The S&P 500 fluctuated between losses and gains but the Dow managed to post a slight gain, boosted
Southeast Asian stock markets fell on Monday, with Philippine shares slipping almost 4 percent and Indonesian stocks posting their biggest one-day drop in a year, amid concerns the US Federal Reserve may start pulling back on quantitative easing. Leading
Indian shares fell for a second straight session on Monday to their lowest close in nearly a month as Sun Pharmaceutical Industries Ltd dropped on reports of its talks to buy Sweden's Meda AB, while Maruti Suzuki India Ltd slumped after sales declined 14.
Sri Lankan shares slipped on Monday from their one-week high hit on Friday in thin trading, as retail investors booked profits in banking and hotel shares, but foreign buying in blue-chip companies helped an overbought market resist further fall. The main
Hong Kong and China shares stretched losing streaks on Monday, hurt by fears of tighter money supply and contrasting manufacturing surveys that compounded the uncertainty over the strength of the economic recovery. While the official manufacturing purchas
European shares fell on Monday, with concerns about the health of the economy in Germany and the United States prompting investors to lock in profits on top performers of recent months. Data from the Institute for Supply Management pointed to an unexpecte
Taiwan stocks fell for a second session in three on Monday along with other regional bourses, with techs and banks ending lower. The main TAIEX index was 0.7 percent down at 8,201.02 points, closing lower for the second time in the last three sessions. Te
Australian shares fell 0.8 percent to their lowest close in four months on Monday as weak metal prices dragged down miners, while disappointing local and Chinese data soured investor sentiment. Blue-chip miners finished the session weaker. BHP Billiton Lt
Britain's benchmark share index, which hit near 13-year highs in May, fell to a one-month low on Monday as a global equity pullback deepened over signs of weakness in the world economy. The blue-chip FTSE 100 index closed down by 0.9 percent, or 57.97 poi
The Indian rupee weakened for a fifth straight session on Monday weighed down by losses in domestic shares and on continued growth concerns as investors pare back expectations of central bank rate cuts next month. An HSBC survey that showed Indian manufac
The Australian dollar recovered a tad on Monday from its deep losses last month after official data showed factory activity in China was better than expected, offering hope that the world's second-largest economy may be stabilising. The Aussie added as mu
The dollar plunged against a broad swath of currencies on Monday as weak US manufacturing data curbed expectations that the Federal Reserve will rein in its bond purchases anytime soon. Investors pared lofty positions in the greenback after data showed ou
The euro rose broadly on Monday after the euro zone manufacturing sector showed signs of stabilising, while a slip in equities weakened the dollar against the yen. Both the euro and the yen could, however, trade lower against the dollar in coming months i
Interbank buy/sell rates for the taka against the dollar on Monday. 77.75-77.76 (77.75-77.75). Call Money Rates: 05.30-07.00 percent (previous 05.30-07.50 percent).
The Philippine peso led gains among emerging Asian currencies on Monday as weakness in the US dollar had investors covering short positions in the regional units, but caution over possible reduction in the Federal Reserve's monetary easing capped their ga
The Swiss franc fell against the euro on Monday as an easing in the euro zone's manufacturing downturn lifted the single currency. PMI data published on Monday showed a marked improvement in business surveys from the eurozone's big four economies, even th
The yuan closed up slightly against the dollar on Monday as traders said demand for dollars returned to the market, showing that a long-running yuan rally may be finally cooling off. The People's Bank of China (PBOC) fixed the midpoint at 6.1806 per dolla
Data showing UK manufacturing activity grew at its fastest pace in more than a year last month lifted sterling to its highest in more than two weeks against the dollar on Monday. This contrasted with an equivalent survey revealing an unexpected contractio
India's media on Monday lashed out at the country's cricket board for "shaming the nation" after it allowed president N. Srinivasan to avoid resigning over a spot-fixing and betting scandal that has engulfed the national sport. The 68-year-old, considered
Punjab Chief Minister Najam Sethi has said that sports play an important role in the creation of a healthy society and there is a need for effective measures to promote sports activities in the society. While addressing a reception held in honour of the p
World number one Novak Djokovic reached his 16th consecutive Grand Slam quarter-final on Monday to set-up a clash against evergreen Tommy Haas for a spot in the French Open semi-finals. Top seed Djokovic carved out a 4-6, 6-3, 6-4, 6-4 win over 16th seed
Seven-time champion Rafael Nadal celebrated his 27th birthday in ruthless style on Monday by trouncing outclassed Japanese 13th seed Kei Nishikori 6-4, 6-1, 6-3 to reach the French Open quarter-finals. It was third-seeded Nadal's 56 win in 57 career match
Third seed Victoria Azarenka reached the French Open quarter-finals for the third time on Monday with a 6-3, 6-0 win over 2010 champion Francesca Schiavone. The double Australian Open champion will now face Russian 12th seed Maria Kirilenko for a semi-fin
Excellent swing bowling from Wahab Riaz and Asad Ali set up Pakistan's six-wicket victory over South Africa in a Champions Trophy warm-up match at The Oval on Monday. The game did not carry full one-day international status as the teams used their full 15
The agent of Indian cricket captain M.S. Dhoni admitted Monday that the World Cup winner had briefly held a stake in a management company that represents several other players in the national side. Rhiti Sports, a group run by Dhoni's agent Arun Pandey, i
Chelsea confirmed one of the worst-kept secrets in European football on Monday when they revealed that charismatic and controversial former manager Jose Mourinho has returned to the club on a four-year contract. The 50-year-old Portuguese, who led Chelsea
A Saudi prince spent 15 million euros ($19.5 million) for three days of fun at Disneyland near Paris to celebrate his degree, the group that runs the theme park said Monday. Prince Fahd al-Saud booked entire areas of the park over May 22 to 24 for his 60-
A Myanmar news journal editor on Monday won the World Association of Newspapers and News Publishers' annual media freedom award for years spent defying restrictions under the junta. Than Htut Aung, head of Myanmar's Eleven Media Group, was presented with
China warned the UN High Commissioner for Refugees on Monday against making "irresponsible remarks" about nine North Korean defectors the UN believes were repatriated to their isolated, authoritarian homeland by China last week. The United Nations said on
Taliban leaders said Monday they had sent a delegation to Iran, Afghanistan's western neighbour, to hold meetings that could signal a future role for Tehran in the search for peace. After 12 years of violence in Afghanistan since the Taliban were ousted f