Rupee continues upward trend as US dollar slides to Rs150.50 in open market
Monday was the third straight day that the Pakistani currency recovered at the interbank and open market against the US dollar since it slipped to record lows against the greenback the previous week.
Arif Naqvi released after arranging record £15m cash bail
Naqvi was granted conditional bail at Westminster Magistrates? Court, which was appealed, unsuccessfully, by the US Government. Mr. Justice Supperstone had ruled that the US Government, had not provided enough evidence to demonstrate that Mr Naqvi, despite the allegations made against him by the US Government, was at risk of failing to surrender to the court or that he ...
SBP issues notification related to assets declaration scheme
KARACHI: The State Bank of Pakistan on Sunday related to the assets declaration scheme, according to which repatriation of foreign assets can be done through conversion of 10 currencies into Pakistani rupee. The notification said that a taxpayer should declare the value of their assets outside Pakistan on the Federal Board of Revenue web portal in respective currency. ...
Huawei moves US court against Trump ban
SHENZHEN: Chinese telecom giant Huawei filed a motion for summary judgment as part of a process to challenge the constitutionality of the 2019 National Defense Authorization Act, as parts of its continuing efforts to challenge the US government for unfair treatment and speed up the process, Chinese media reported Wednesday. Politicians in the US are using the strength of ...
Cannot go public with IMF agreement until board approves: Dr Abdul Hafeez Sheikh
ISLAMABAD: Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh on Saturday said the Pakistani government cannot go public with the agreement with the International Monetary Funds (IMF) until the board approves. The finance advisor in his press conference along with federal ministers and FBR chairman said that the financial situation was devastating when the government took charge ...
Currency Rate in Pakistan: US Dollar, UK Pound, Saudi Riyal, UAE Dirham - 28 May 2019
KARACHI: Following were the closing rates of US Dollar, Saudi Riyal, UK Pound, UAE Dirham and other foreign currencies in kerb market, according to the Forex Association of Pakistan on Tuesday, May 28, 2019.
Pakistani stocks register highest weekly gain in a decade after record losses over rupee fluctuation
KARACHI: The benchmark index of the Pakistan Stock Exchange gained 2,537 points during the outgoing week, recovering by 7.5% since fluctuations in the exchange rate and economic uncertainty wreaked havoc in the financial markets. The IMF announcement sent shockwaves through the money and financial markets, with the KSE-100 plunging almost 4,000 points from 37,130 points on April 26 to ...
CEO Pakistan Stocks Exchange Richard Morin resigns
ISLAMABAD: Richard Morin, who joined Pakistan Stock Exchange Limited (PSX) as CEO in January 2018, has resigned, Geo News reported Tuesday.
Currency Rate in Pakistan: US Dollar, UK Pound, Saudi Riyal, UAE Dirham - 27 May 2019
KARACHI: Following were the closing rates of US Dollar, Saudi Riyal, UK Pound, UAE Dirham and other foreign currencies in kerb market, according to the Forex Association of Pakistan on Monday, May 27, 2019.
Amnesty scheme aimed at documenting economy, says FBR chief
LAHORE: Honourary Chairman of Federal Board of Revenue (FBR) Shabbar Zaidi said Friday that the purpose recently-introduced amnesty scheme is not to collect taxes, it is rather aimed at documenting the economy. Addressing attendees at an Iftar dinner here, Zaidi said people should benefit from this scheme, adding, "Our bad luck is that the tax net has been limited". ...
Pakistan's tea imports up 0.61 percent to 495.957 millions
On month-on-month basis, the tea imports, however decreased by 4.01 percent in April 2019 when compared to the imports of $52.232 million in March 2019.The overall food imports into the country witnessed decrease of 9.85 percent during the first ten months of the current fiscal year compared to the last year.
Pakistani rupee inches further up against US dollar in interbank, open markets
KARACHI: The rupee registered gains against the US dollar in the interbank and open markets for a third consecutive day on Friday, as the Pakistani currency slowly recovered after hitting record lows against the greenback earlier this week. The State Bank of Pakistan, which lifted interest rates by 150 basis points on Monday to 12.25%, said it was watching ...
Currency Rate in Pakistan: US Dollar, UK Pound, Saudi Riyal, UAE Dirham - 25 May 2019
KARACHI: Following were the closing rates of US Dollar, Saudi Riyal, UK Pound, UAE Dirham and other foreign currencies in kerb market, according to the Forex Association of Pakistan on Saturday, May 25, 2019.
KSE-100 index gains 122.47 point to close at 35,703 points
The three top traded companies were Unity with a volume of 12.258 million and price per share of Rs 11.74, MLCF with a volume of 8.75 million and its price per share increased by Rs 1.1 to Rs 22.47 and TRG with a volume of 5.76 million and its price per share of also increased by Rs 0.01 to ...
Currency Rate in Pakistan: US Dollar, UK Pound, Saudi Riyal, UAE Dirham - 24 May 2019
KARACHI: Following were the closing rates of US Dollar, Saudi Riyal, UK Pound, UAE Dirham and other foreign currencies in kerb market, according to the Forex Association of Pakistan on Friday, May 24, 2019.
Asia Stocks Sink After Losses In US, Europe
Hong Kong, (UrduPoint / Pakistan Point News - 29th May, 2019 ) : sank Wednesday, tracking losses in and on Wall Street as investors grew anxious about a possible economic slowdown and the absence of any in resolving the US-China trade war. An emboldened Salvini said Tuesday he expected to hit with a 3-billion-euro ...
Budget to be presented on June 1, top priority to reduce financial burden on common man
Dr Firdous Ashiq Awan?said the government would announce a comprehensive and well defined trade policy to increase exports, reduce imports and balance the trade deficit.
Nepra approves 55 paisas per unit hike in power tariff
ISLAMABAD?? -?? The National Electric Power Regulatory Authority (Nepra) on Tuesday allowed tariff increase of Re 0.55 per unit for ex-Wapda distribution companies on account of fuel price adjustment for April. As per the petition a total of 9717.38 gigawatt-hours (GWh) of electricity generated in April at total cost of Rs 53.63 billion. Net electricity delivered to power distribution ...
ICCI calls for cut in import duty on industrial raw material in budget
ISLAMABAD?? -?? President Islamabad Chamber of Commerce & Industry (ICCI) Ahmed Hassan Moughal has said that the industry was importing lot of raw material for manufacturing of products, but due to sharp fall in value of rupee, the import of industrial raw material has become costly leading to enhanced production cost. In a statement issued here on Tuesday, Ahmed ...
Engro Fertilizers, DFAT successfully train over 4,000 smallholder farmers
Co-funded by Engro Fertilizers Limited and the Department of Foreign Aid and Trade (DFAT), Government of Australia, Partnerships and Value Expansion in Seeds Value Chain (PAVE) project aims to build capacities of smallholder farmers to become high-skilled seed multipliers and become part of seed supply chain, as well as using certified seed in their regular cropping to earn higher ...
