Hong Kong Stocks Up At Break
Hong Kong, June 5 (UrduPoint / Pakistan Point News - 5th Jun, 2019 ) : shares ended Wednesday's morning session with gains after the US Reserve chief indicated a greater openness to lowering interest rates, bringing positive for investors.
Dow Ends Up 2.1% As Fed Chief Signals Openness To Rate Cut
New York, June 4 (UrduPoint / Pakistan Point News - 5th Jun, 2019 ) :Wall Street rocketed higher Tuesday, shrugging off recent weakness as the US Reserve chief signaled greater openness to cutting interest rates.
Exports go up by 7pc despite difficultiesa: Dawood
ISLAMABAD?? -?? Adviser to Prime Minister on Commerce Abdul Razak Dawood Tuesday said that Pakistan?s exports went up by 7 percent as production line had gone up despite difficult environment. He said that projects like Faisalabad Industrial Estate Development and Management Company (FIEDMC) would help the industry generate economic activities by attracting foreign and local investors besides enhancing volume ...
FBR identifies five sectors to broaden tax net
ISLAMABAD?? -?? The Federal Board of Revenue (FBR) has identified five sectors for unearthing new taxpayers in the country to broaden the tax base of the country, which is extremely low. Similarly, data of all industrial and commercial power connections would be obtained from DISCOs and meaningfully extrapolated to ensure filing of tax returns by all concerned. For broadening ...
Businessmen back amnesty scheme, steps to widen tax net
ISLAMABAD?? -?? Founder Chairman Pak US Business Council and veteran trade leader Iftikhar Ali Malik Tuesday said the entire business community including Federation of Pakistan Chambers of Commerce, all its affiliated chambers, trade bodies and associations will extend full support to the tax amnesty scheme and broadening tax base. Talking to media on Tuesday, Iftikhar Ali Malik welcomed tax-amnesty ...
US manufacturing struggling as orders, shipments decline
WASHINGTON??? -?? New orders for US-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy. Factory goods orders declined 0.8%, pulled down by soft demand for transportation equipment, computers and electronic orders, and primary metals, the Commerce Department said on Tuesday. Manufacturing, which ...
Economy size can double to $1tr through reforms: APBF
All Pakistan Business Forum Patron In-chief and Pakistan Freedom Movement Chairman Haroon Khawaja said it is not possible through temporary amnesty schemes rather it can be done through reforms in bureaucracy especially in the FBR, replacing it with an independent institution, setting it free from any influence of the government and political victimization, that can effectively enforce tax laws, ...
FPCCI made a dysfunctional institution: PEW
Talking to Ahmed Jawad, Secretary General (Federal) Businessmen Panel, he said that different officials are involved in an intense power struggle which is damaging the institution.
Uber says IRS probing its 2013-14 tax returns
Washington - The U.S. Internal Revenue Service is auditing Uber Technologies Inc’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million. In its full quarterly report on Tuesday, Uber said various state and foreign tax authorities were also looking into its taxes and ...
Govt urged to take notice of LPG smuggling
Speaking at a meeting of the association, PLMA Chairman Farooq Iftikhar said that LPG marketing companies were on the verge of collapse. Besides, he said, consumers were also suffering due to smuggling and unchecked import of low-quality LPG. He said that locally produced LPG costs around Rs100,000 per ton to 17% General Sales Tax and Petroleum Development Levy, operational ...
Ailing public sector enterprises eat up Rs400b in just one year
ISLAMABAD?? -?? Public sector enterprises (PSEs) have eaten up almost Rs400 billion in just one year after the successive governments failed to improve the ailing PSEs including Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM). The debt and liabilities of PSEs including domestic and foreign had gone up to Rs1.59 trillion by end of March, which is 33.14 ...
US moving toward major antitrust probe of tech giants
WASHINGTON ?? -? ? The U.S. government is gearing up to investigate whether Amazon, Apple, Facebook and Google misuse their massive market power, sources told Reuters on Monday, setting up what could be an unprecedented, wide-ranging probe of some of the world?s largest companies. The Federal Trade Commission and the Department of Justice, which enforce antitrust laws in the ...
China warns its companies on US travel, rebuffs trade criticism
BEIJING/WASHINGTON ? -? ? China warned its companies operating in the United States on Tuesday they could face harassment from U.S. law enforcement agencies, as it also rebuffed U.S. criticism of a trade white paper as ?singing the same old tune?. ?The department reminds Chinese tourists to fully evaluate the risks of going to the United States, to understand ...
Firms fret as US-China trade war could affect business in the long-term
Further rattling nerves are Beijing?s plans to unveil an unprecedented hit-list of ?unreliable? foreign firms, groups and individuals that harm the interests of Chinese companies. ?The key point for them is that there?s a great deal of uncertainty on how the list will be implemented and what negative repercussions will be brought about should a company be added to ...
World Bank slashes 2019 growth as global trade slackens
The world economy is now expected to expand by 2.6 percent this year, three tenths of a percentage point lower than the January forecast, and well below the three percent growth seen in 2018, according to the Global Economic Prospects report. Newly-installed World Bank President David Malpass, who in his previous position with the US Treasury participated in Trump?s ...
Auto industry tallies cost of Trump’s threatened Mexico tariffs
DETROIT: Major automakers are assessing the cost of tariffs that US President Donald Trump has threatened to impose on Mexican imports, both to themselves and their supply chain, and are planning to delay some vehicle shipments, people briefed on the plans told Reuters on Tuesday. The email, dated June 3, from Toyota?s North American sales chief, Bob Carter, also ...
Canada court to hear Huawei extradition case details June 6
OTTAWA: Canadian authorities have set a June 6 court date to discuss technical issues concerning the extradition case against Huawei Technologies Co Ltd executive Meng Wanzhou, but she will not be in court, the federal justice ministry said. Meng?s lawyers last month said they would seek a stay of extradition proceedings in part based on statements by US President ...
Renault’s board triggers process to recover Ghosn’s suspect expenses
PARIS: Renault?s board triggered on Tuesday a process to recover 11 million euros ($12.4 million) in Carlos Ghosn?s suspect expenses when he chaired the alliance between the French carmaker and its Japanese counterpart Nissan. Renault?s board members were asking the group?s representatives to liaise with counterparts at Nissan to explore legal action to recover sums paid for by the ...
US Federal Reserve Prepared To Act To Limit Any Negative Impact Of Trade Tariffs - Powell
We are closely monitoring the implications of these developments for the US economic outlook and, as always, we will act as appropriate to sustain the expansion," Powell said at the Chicago Federal Reserve. Powell did not directly reference interest rates, but his comments were widely interpreted to mean that the Federal Reserve could adjust its monetary policy if the ...
Stocks Markets Climb On Positive Signs In US Tariff Battles
In Europe, Frankfurt's DAX 30 index was the lead performer, up more than one percent in afternoon trading even though data showed eurozone inflation dropped sharply in May, a possible sign of a slowdown sparked by the US-China trade war. Fears of an economic slowdown have mounted in recent days after US President Donald Trump threatened Mexico with tariffs, ...
