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
Last year when BR Research met with the CEO of Ghani Global Group, the conversation revolved around the group's plans to expand its gases and glass business. A year later, it was the right time for an update on the group's plans. Following is an e
Last year when BR Research met with the CEO of Ghani Global Group, the conversation revolved around the group's plans to expand its gases and glass business. A year later, it was the right time for an update on the group's plans. Following is an e
My workplace is situated at Bin Qasim industrial area. Every day, going to work is a challenge as my travel route is through the Malir Road which nowadays has been partially closed off for repairs. I have been forced to leave the house much earlier, simpl
Carole, a scientist from Zurich, recently received a dream message on her phone: she will receive 2,500 Swiss francs ($2,500, 2,300 euros) a month for the next year, no strings attached.
Describing the May 12 Summit of 40 Heads of state and government along with important business leaders as "the biggest demonstration of the political will to address corruption", British PM David Cameron said: "I've really sensed today there is far more p
A friend asked to outline as to what should be ideal budgets for Pakistani people at federal and provincial levels. Our answer is simple: an ideal budget is one that has long-term vision of prosperity by doing justice with all economic classes within soci
The annual ritual of President's address to a joint session of Parliament at the start of the new parliamentary year proved to be yet another unremarkable event. President Mamnoon Hussain mostly recounted the government claims of successes, such as that e
The Chairman of the National Tax Reform Commission (TRC), Masood Naqvi, together with two other members of the Commission, stated during a briefing to the Senate Standing Committee on Finance that "reforms in the tax system are a major issue," and added m
On Wednesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 5,244 million and the number of lots traded was 11,595. PMEX Commodity Index closed at 2,831. Major business was contributed by currencies through COTS amounting to PKR 2,533 milli
US wheat futures fell 3.2 percent on Tuesday on forecasts for good weather as harvest of the winter wheat crop nears. An outlook for rain in the northern Plains, seen as beneficial for development of the spring wheat crop there, added pressure to the mark
Vietnam's rice paddy output will likely fall this year for the first time since 2005 following the worst drought in 90 years, but the decline will be limited as farmers expand planting in the current and final crops, a government official said.
The Karachi Port handled 174,499 tonnes of cargo comprising 136,116 tonnes of import cargo and 38,383 tonnes of export cargo including 6,429 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
An upward trend was seen on the forward cottonseeds oilcake market on Thursday in the process of trading, dealers said. The July vaida settled at Rs 2049.50 and it commenced with 20 paisas gain at Rs 2049.70 in wee hours, they added.
There was mostly a lull on the cotton market as traders awaited the scheduled announcement of the federal budget (2016/2017) on Friday. Thus the pace of business in the ready market was slow on Thursday while only a few lots of cotton changed hands. Not m
There was mostly a lull on the cotton market as traders awaited the scheduled announcement of the federal budget (2016/2017) on Friday. Thus the pace of business in the ready market was slow on Thursday while only a few lots of cotton changed hands. Not m
Cotton futures fell more than 1 percent, the most in nearly two-weeks, on Wednesday on profit-taking after the holiday weekend. "Some of the new longs that had come into the market decided to exit them in the last two days," said Jim Lambert, Director of
Indian oilseed prices rose on Thursday on short-covering and tracking gains in Malaysian palm oil futures. Malaysian palm oil futures pared losses from the previous session, tracking competing vegetable oils and helped by a weaker ringgit.
Shanghai Futures Exchange copper slipped 0.3 percent to 35,330 yuan ($5,374) a tonne on Thursday. "Copper and aluminium prices failed to sustain their April gains despite the large boost to Chinese credit growth early this year," said Societe Generale in
Zinc prices rose on Thursday to their highest in nearly 10 months as a flurry of buying based on expectations of tight supplies fuelled upward momentum, but analysts expect optimism to fade as demand weakens. Benchmark zinc on the London Metal Exchange en
Oil prices rose on Thursday, with Brent returning to above $50 a barrel, after data showing a weekly drawdown in US crude stockpiles offset OPEC's decision not to set a ceiling for its production. US crude stockpiles fell 1.4 million barrels in the last w
Benchmark Tokyo rubber futures rebounded on Thursday, recovering from a one-week low hit earlier in the day, as short-covering kicked in after the market hit a technical resistance at 156 yen and ahead of US job data due on Friday.
China on Thursday sold nearly 108,000 tonnes of rice in its latest auction of state reserves, around 4 percent of the total amount of grain available, the National Grain Trade Center said.
Malaysian palm oil futures pared losses from the previous session to rise on Thursday, tracking competing vegetable oils and helped by a weaker ringgit . The market made its strongest rise in nearly a month, matching gains on May 25.
Raw sugar futures on ICE climbed to their highest level in almost two years on Thursday as rains disrupted the cane harvest in top producer Brazil while cocoa and coffee prices also rose. July raw sugar was up 0.36 cent, or 2.1 percent, at 17.77 cents per
Gold turned negative on Wednesday, as the dollar briefly pared losses following US manufacturing data and US equities came off their lows, while the market tried to assess how close the Federal Reserve is to raising interest rates.
Gold inched up on Thursday on the back of a weaker dollar, as investors assess whether the latest set of US economic data will boost the prospect of an early interest rate hike by the Federal Reserve. Bullion had turned negative on Wednesday after the gre
Gold was little changed on Thursday as the dollar cut losses after the European Central Bank said it made only marginal upward adjustments to its inflation projections, while investors remained cautious ahead of US labour data.
Rain delays to Brazil's sugar harvest could mean that a long expected global deficit finally bites. Despite forecasts by several analysts for a substantial global sugar deficit in 2015/16, immediate supplies have been plentiful due to a flying start to th
Gold was little changed on Thursday as the dollar turned positive after the European Central Bank said it made only marginal upward adjustments to its inflation projections, while investors remained cautious ahead of US labor data. The bank kept interest
Novak Djokovic insisted Thursday that money will never be a driving force in his life despite becoming the first player to earn $100 million in prize money. The 29-year-old world number one reached the landmark figure by making the French Open quarter-fin
Novak Djokovic reached his 30th Grand Slam semi-final on Thursday but his quest for a first French Open title was almost scuppered by disqualification. The world number one, a three-time runner-up and seeking a maiden Roland Garros crown to complete the c
Argentina football star Lionel Messi said Thursday he trusted his father with his finances and "knew nothing" about how his wealth was managed as he took the stand at his tax fraud trial. "I was playing football. I had no idea about anything," the five-ti
Australian experience and guile takes on Spanish youth and power at the French Open on Friday when Samantha Stosur plays Garbine Muguruza in the first of the semi-finals. Stosur at 32 is a veteran of 15 years on the WTA circuit who won the 2011 US Open an
India's newly elected cricket chief Anurag Thakur has laid out an action plan for the women's team to attain world-beating status alongside their male counterparts in the next four years. While the Indian men's team is rated among the top sides in the wor
Hosts West Indies and South Africa get a tri-nation One-Day International series under way on Friday in Guyana with both teams in rebuilding mode following last year's World Cup.
Determined opener Shan Masood on Thursday vowed Pakistan were ready to take up the stiff challenge in a Test series in England, where sub-continent batsmen have struggled in the past. Pakistan play a four-match Test series, starting at Lord's from July 14
In the rolling foothills of the Bavarian alps, where cows lazily chew grass on sun-drenched meadows, Germany and Bayern Munich star Thomas Mueller is the pride of his ex-club TSV Paehl.
India will begin a seven-week tour of the West Indies starting on July 6 with four Tests and two practice matches, the cricket boards of both countries confirmed on Thursday. The tour will get underway with a two-day practice match from July 9 in St Kitts
International Cricket Council chief executive David Richardson expects Pakistan quick bowler Mohammad Amir to tour England next month, saying the former spot-fixer's return is a "good thing" for the sport. Amir, 24, featured in two one-day internationals
Lockheed Martin Corp and Europe's MBDA hope to complete negotiations with Germany on the MEADS next-generation missile defense system by the end of the year, before next year's German elections, top company officials told Reuters.
Poland's economic growth slowed in the first quarter, hit by the first decline in investment in over two years and a negative contribution from foreign trade, statistics office data showed. The breakdown of first-quarter gross domestic product (GDP) data,
Thailand's cabinet approved a plan to double tax breaks for private investors this year to boost sluggish investment. The government is seeking to arrest a long and slow decline in Thailand's share of regional foreign investment over more than a decade of
Italian fashion group Giorgio Armani reported slower revenue growth of 4.5 percent at current exchange rates for 2015 and said its core profit had remained broadly unchanged.
India's largest drugmaker Sun Pharmaceutical Industries Ltd reported a near-doubling in fourth-quarter profit, although that missed analysts' estimates as weakness in emerging markets outweighed higher sales in India and the United States.
Russia's Gazprom sees no need to wage gas price wars in Europe to squeeze out rivals, including expected liquefied natural gas (LNG) from the United States, Deputy Chief Executive Alexander Medvedev said.
The Reserve Bank of India on Thursday said the country's lenders must put in place a cyber security policy "immediately" in order to combat internet threats and asked the sector to identify risks according to the degree of potential danger.
US asset manager Pacific Investment Management Co on Wednesday warned of a risk that zero interest rates and other unconventional monetary policies in place will be insufficient to maintain global growth, close output gaps and raise inflation to target.
US asset manager Pacific Investment Management Co on Wednesday warned of a risk that zero interest rates and other unconventional monetary policies in place will be insufficient to maintain global growth, close output gaps and raise inflation to target.
South Korea's industrial output fell in April for a second straight month and at a faster-than-expected pace, highlighting how weak exports continue to hobble Asia's fourth largest economy.
Revenues of Telecom sector during July 2015 to March 2016 were estimated at Rs 333.2 billion, revealed the Economic Survey (2015-2016) released on Thursday.
Pakistan spends $37 per head on health that is lower than the World Health Organisation's prescribed minimum $44 for each person's health. Pakistan Economic Survey 2015-16 notes that total public health expenditure as percentage of GDP increased to 0.45 p
The government is expected to target tax revenue growth of up to 20 percent by focusing on tax evaders and will offer concessions to the industrial and agricultural sectors to spur growth, analysts said on Thursday, a day before the annual budget was rele
A delegation from China on Thursday visited the Regional Office of the Pakistan Federation of Chambers of Commerce and Industry (FPCCI) and discussed matters of mutual interest.
Being sixth populous country of the world with estimated population growth rate of 1.89 percent, Pakistan is under pressure due to its scarce resources.
The gas utilities have provided 254,870 new connections during July-February 2015-16 and planning to provide an additional 412,058 connections in 2016-17, revealed Economic Survey of Pakistan 2015-16.
Following the undue concessions on the import of used hybrid cars, the government is expected to pay a heavy tax rebate of over Rs 6.7 billion against the import of around 9,500 used luxury hybrid vehicles by the end of FY2015-16.
Pakistan's economy has suffered $118.3 billion loss equivalent to Rs 9,869.16 billion [directly and indirectly] during the last 14 years due to war on terror. According to Economic Survey 2015-16, Pakistan's economy suffered a total loss of $14.80 billion
'GDP growth rate has fallen short of government's target, as economic stability remains the objective of choice' while the economy's productive sectors have been sluggish. This was stated in a report issued by the Institute for Policy Reforms (IPR) follow
'GDP growth rate has fallen short of government's target, as economic stability remains the objective of choice' while the economy's productive sectors have been sluggish. This was stated in a report issued by the Institute for Policy Reforms (IPR) follow
The federal government has proposed Rs 12 billion Block allocations for Azad Jammu and Kashmir (AJK) and Rs 9 billion for Gilgit-Baltistan for development projects in budget 2016-17, it is learnt.
Following withdrawal of concessionary/exemption Statutory Regulatory Orders (SROs) of Rs 132 billion in 2015-16, total tax exemptions and concessions to various sectors, lobbies/groups and investors have cost the government Rs 394.593 billion during 2015-
Following withdrawal of concessionary/exemption Statutory Regulatory Orders (SROs) of Rs 132 billion in 2015-16, total tax exemptions and concessions to various sectors, lobbies/groups and investors have cost the government Rs 394.593 billion during 2015-
For the graduation of Benazir Income Support Programme (BISP) beneficiaries, a total of 165,987 direct beneficiaries or their immediate family members were provided interest-free loans, micro-finance and technical training.
Pakistan's public expenditure on education as percentage of GDP stood at 2.2 percent, ranking it below Afghanistan (4.6 percent), while the literacy rate increased from 58 percent to 60 percent, revealed the Economic Survey (2015-16) released Thursday.
The Benazir Income Support Programme (BISP) has requested a budgetary allocation of Rs 115 billion for the fiscal year 2016-17 to ensure an increase in its beneficiaries' number and meet expenses of a resurvey.
Dubai on Thursday announced plans to build a 1,000-megawatt solar power plant by 2030, the year it aims to turn to renewable energies for 25 percent of electricity needs. The first stage of the concentrated solar power (CSP) plant aims to produce 200 MW i
Japan's government will set out a new growth strategy on Thursday that has already disappointed many economists for lacking the bold structural reforms needed to narrow income disparity and reverse rapid population decline.