Turkey’s largest enterprise, Arcelik’s Technology chief visits Pakistan Arçelik invested over 36m euros in its Pakistani subsidiary
During this 3-days tour, the CTO ? Mr. Oguzhan Ozturk held meetings with the corporate leaders and operational teams of Dawlance ? the market-leader in Pakistan?s home-appliances industry. Ozturk commented that: Since acquiring Dawlance in 2016, Ar?elik has invested more than 36 Million Euros in its Pakistani subsidiary, to improve productivity through research and development of new products, in ...
Growing consumption of dairy products bringing vital nutritional benefits
Growing consumption of dairy and other livestock products is bringing important nutritional benefits to large segments of the population of developed and developing countries, although many millions of people in developing countries are still not able to afford better-quality diets. Number of studies have been conducted on the role of animal source of food, including milk, in the diets ...
Unregistered industrial units can get themselves registered: FBR
Staff Reporter Islamabad Chairman Federal board of Revenue (FBR) Shabbar Zaidi says the sales tax unregistered industrial units can get themselves registered by paying two percent tax, benefiting from Asset Declaration Scheme by June this year.
Customs, NBP to automate daily upload of dollars exchange rate in WeBOC
Staff Reporter Karachi FBR has decided to electronically link customs automated system WeBOC with the Treasury and Capital Markets Group of the National Bank of Pakistan so that the daily exchange rate of major currencies are uploaded into WeBOC directly as soon as the same are notified. As per current procedure, Exchange rate for various currencies is procured from ...
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UNFPA team visits Women Development Department LAHORE (PR): United Nations Population Fund (UNFPA) team visited Women Development Department, Punjab Lahore Tuesday and called upon Secretary WDD, Mrs Irum Bukhari. In conversation with Ms Saliah Ramay, Program Analyst Gender UNFPA, Ms Dilshad Pari, Gender Consultant UNFPA and Dr Shoiab Ahmed, Technical Specialist UNFPA Punjab, Mrs Irum Bukhari stated that WDD had ...
Bosnia And Herzegovina Says To Discuss Inclusion In TurkStream Gas Pipeline At SPIEF
BELGRADE (UrduPoint News / Sputnik - 23rd May, 2019) The inclusion of (BiH) in the TurkStream pipeline project will be discussed at the upcoming International Economic Forum (SPIEF), Milorad Dodik, who currently heads the tripartite presidency governing BiH, said on Wednesday. I think it would be beneficial if and the BiH Federation discussed this project ...
Govt offering incentives to exploration firms: PM
Staff Reporter Islamabad Prime Minister Imran Khan says government is working on a new petroleum policy offering incentives to foreign exploration and production companies and removing impediments in way of smooth and profitable business ventures. The Prime Minister welcomed Shaikh Nawaf Saud Al-Sabah and his delegation to Pakistan and assured Government?s continued support to the company in their smooth ...
Oil prices drop on swelling US stockpiles
?Buying pressures are sandwiched between mounting geopolitical disruption risks in the Middle East and jitters over the fallout from the intensifying US-China trade dispute,? PVM?s Stephen Brennock said in a note. ?As a result, the oil market is at a crossroad with both these risks carrying the potential to send prices $10 a barrel in either direction? Even a ...
Mobile connectivity of millions in Pakistan at risk: GSMA warns
Observer Report Islamabad The GSMA, Wednesday, raised serious concerns over the unreasonable fees set by the government and Pakistan Telecommunication Authority (PTA) on operators renewing mobile spectrum licenses in Pakistan, which it believes pose a significant risk to the mobile connectivity of millions of citizens. The GSMA warns that the high fees proposed for renewing these licenses will slow the ...
Textile exports fall 0.02pc to $11.129b
The textile exports from the country during July-April (2018-19) were recorded at $11129.192 million compared to the exports of $11131.612 million of the same period of last year, according to the latest data of Pakistan Bureau of Statistics (PBS). The textile commodities that contributed in positively in external trade included knitwear, exports of which grew from $2203.500 million last ...
Rise in policy rate
Daroo Khan Achakzai has expressed serious concerns over increase in policy rate by another 150 basis points in view of prevailing inflation, devaluation of currency and twin deficit in Pakistan. He indicated that 12.25 percent policy rate is very high compared to regional economies like India 6.0 percent, China 4.35 percent, Sri Lanka 9.0 percent, Thailand 1.75 percent, Indonesia ...
NBP announces Rs2.00 EPS
Staff Reporter Karachi NBP announced earnings on Wednesday for 1QCY19 at PKR 4.3bn (EPS: PKR 2.00), depicting a YoY decline of 16% and sequential uptick of 12%. However, the bank?s NII declined 9% QoQ which we attribute to a seasonal trend observed for NBP which usually shows an NII downturn during 1Q and 3Q of the year. On a sequential basis ...
One year tenure of FPCCI President insufficient
The meeting was held under the chairmanship of Senator Mirza Muhammad Afridi at the Parliament House, and was attended among others by Leader of the House Senator Shibli Faraz; senators Nauman Wazir Khattak, Mian Ateeq Shaikh, Dilawar Khan, Ghous Muhammad Niazi and Ahmed Khan; Commerce Secretary Ahmed Sukhera; the FPCCI president; SLIC executive director; the NICL acting CEO and ...
UN cuts economic growth forecast New York
The United Nations has announced a broad-based slowdown in the global economy and cut its growth predictions in view of the unresolved trade tensions, high international policy uncertainty and softening business confidence. The data comes from the UN Department of Economic and Social Affairs (DESA) in its mid-year World Economic Situation and Prospects (WESP) report, which finds that all major developed ...
Chinese envoy, WB laud steps taken by FBR
The World Bank Country Director welcomed the appointment of Syed Shabbar Zaidi as Chairman FBR and hoped that under his command the FBR would be able to devise a strategy to achieve its targets in the long run.
Dawood, FPCCI share budget proposals to enhance export growth
ISLAMABAD, May 22 (APP):A delegation of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Wednesday called on Adviser to Prime Minister on Commerce, Textile, Industries and Production and Investment Abdul Razak Dawood and shared the budget proposals to enhance the export growth.
US Imports Venezuelan Oil For First Time In Weeks - Energy Information Administration
The EIA reported zero crude imports during the previous week ending on 10, compared with 352,000 barrels per day (bpd) during the period last year, and 585,000 bpd in , the EIA data showed. Venezuela has already lost some $30 in revenues over the past three months as a of the sanctions and ...
Migrant Influx To Germany To Weigh Down Economy In Years To Come
Finance Ministry figures, published in German media this week, show that 300,000 of them receive a monthly 450 euros ($502) in unemployment benefits under the Hartz IV system. The immigration flow is much lower now than at the height of the Syrian war, but the cost of integration for Germany looks set to increase in the coming years. A ...
National Bank Of Pakistan Board Of Directors Approves Quarterly Financial Statements
The Bank earned mark-up/interest income amounting to PKR 45.8 billion which is 45.9% higher than PKR 31.4 billion earned during the corresponding period last year. Also, the Bank's non-mark-up/interest income increased by 40.2% YoY and amounted to PKR 8.3 billion. Pre-tax profit of the Bank amounted to PKR 8.7 billion as against PKR 7.6 billion for the corresponding quarter ...
Pakistan Stock Exchange PSX Closing Rates 22 May 2019
393.13 Dewan Farooque Motors Limited [DEFAULTER SEGMENT] 7.84 Ghandhara Industries Ltd. 97.55 Ghandhara Nissan Ltd. 53.01 Ghani Automobile Industries Ltd. 4.38 Hino Pak Motor Limeted. 331.8 Honda Atlas Cars (Pak) Ltd. 137.24 Indus Motor Company Ltd.(XD) 1183.94 Millat Tractor Ltd.(XD) 838.27 Pak Suzuki Motors Co Ltd.(XD) 246.84 Sazgar Engineering Works Ltd. 227.01 AUTOMOBILE PARTS & ACCESSORIES: Agriautos Industries Co. Ltd. 204.72 Atlas Battery Ltd. 75.2 Exide Pakistan Ltd. 132.9 General Tyre & Rubber Co. ...
