Business

FM Qureshi urges citizens to pay taxes so Pakistan can prosper

ISLAMABAD: Pakistan’s Foreign Minister Shah Mehmood Qureshi on Tuesday tweeted about the country’s drive to increase its tax base. FM Qureshi said in the post, “no nation can prosper under the burden of debt. The only way out is by increasing our tax base and documenting the economy.” The foreign minister urged every Pakistani to play their part, pay taxes...

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China: PM , Investment by Chinese companies to boost Pakistan’s economy

Prime Minister Muhammad Nawaz Sharif on Thursday said the investment by Chinese companies will give a rise to the country’s economy. The Prime Minister expressed these sentiments in a meeting with the President, EXIM Bank of China, Li Ruogu here on the sidelines of Boao Asia Forum 2014. During the meeting, financing of infrastructure and energy sector projects in Pakistan...

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Pakistan lifts $2 billion through Eurobonds

NewsONE: Pakistan successfully upraised $2 billion from global capital markets worth five- and 10-year Eurobonds on Wednesday, as statedto a local brokerage house. The recent dollar-denominated bonds have collected the highest amount that Pakistan has ever produced in a single attempt from international investors. As stated to Topline Securities Research Analyst Zeeshan Afzal, the government has raised $1 billion through five-year...

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Asian shares mainly get high, HONG KONG

NewsONE: Asia's markets largely rose on Wednesday nect in time a slight rebound on Wall Street but Tokyo took another strike from a firmer yen. Oil prices eased after surging on Tuesday on renewed concerns about tensions in Ukraine. Tokyo tumbled 2.1%, or 307.19 points, to 14,299.69, but Seoul rose 0.30%, or 5.92 points, to 1,998.95. Sydney ended 0.98% higher...

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ISLAMABAD/PESHAWAR: N-PTI pull of war warms up once again.

NewsONE reported: Abid Sher Ali, the State Minister for Water and Power, hurled angry accusations at political rival Pakistan Tehreek-e-Insaf (PTI) on Tuesday, alleging that PTI ministers were involved in power theft in Khyber Pakhtunkhwa. Nevertheless, his allegations were taken on with equally bitter denunciation by Khan's party members, who rubbished the state minister's claims as political point- making. Not...

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KARACHI- KSE index acquires by 170 points on institutional buying

NewsONE-The Karachi Stock Exchange benchmark 100-index increased by 170.93 points on Monday to a fresh all-time high of 28,579 points on institutional buying in selected funds, traders say. An analyst and a senior member of the KSE- Zafar Moti, stated that the quarter-end results were better and further good results are expected frontward. “There is a good element feeling and...

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Retired Major Gen Zaheer Ahmed appointed as Pakistan Steel Mills CEO

Retired Major Gen Zaheer Ahmed appointed as Pakistan Steel Mills CEO

ISLAMABAD: Prime Minister Nawaz Sharif appointed Major Gen (R) Zaheer Ahmed as new CEO of Pakistan Steel Mills. The PM approved the recommendation sent by a commission headed by Ishaq Dar for Zaheer’s appointment today. Recently, Punjab Chief Minister Shahbaz Sharif also vowed to establish world largest steel mill in Chiniot district of Punjab.

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Petroleum prices reduced on PM orders and other product prices slashed

ISLAMABAD – Dollar rate decreases, the government has reported to reduce prices of petroleum products with effect from today (Tuesday). As stated to a government notification, the price of petrol has been reduced by Rs 1.72 per litre and its new price will be Rs 108.31. The costs of high octane, light diesel and high speed diesel have been reduced...

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ISLAMABAD: LNG import motionless hangs in stability

Newsone - Opposition to the government’s claim of LNG import by November, sole bidder has yet to obtain prerequisites to the building of LNG terminal that alone takes, at least, 11 months. Engro Corporation Pakistan has not obtained two major perquisites to applying for terminal constructionlicenses, namely the approval of the port concerned, that is Port Qasim in this case and an NOC of...

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SHENZHEN: ‘Maintained calm’ throughout NSA hacking describes, China’s Huawei

Newsone: China's Huawei Technologies Co Ltd "maintained calm" and operated "business as usual" later than media stories stating the US evaluated servers at the telecom giant's Shenzhen headquarters, acting Chief Executive Eric Xu said on Monday. Before this month, the New York Times and Der Spiegel cited documents escaped by former US security contractor Edward Snowden as stating the National...

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ECC dry tenure of 8 A320S from Qatar

ISLAMABAD:" The Economic Coordination Committee (ECC) of the locker on Thursday approved acquisition of eight A320S type passenger aircraft on dry-lease from Qatar to enable the national carrier to improve its flight operations". The strict criteria approved by ECC for allowing short-term IPPs for generation of power without government obligation of the public entities to buy all of the generated...

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Toyota to elevate segregation in India

BANGALORE: Toyota aforementioned that it'd raise a resistance next week on its Indian assembly plants once a gathering with labor teams and an area government negotiator to determine a pay dispute. A total of seventeen staff are excluded for apparent delinquency and undisciplined as well as threats opposed to management and intended assembly-line stoppages over the protests at 2 factories...

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WB to pass $1.5bn loan next month

ISLAMABAD:The World Bank is anticipated to pass $1.5 billion program and project loans for Pakistan upcoming month later than completing of deliberation on energy sector improves over the upcoming days. Temporarily, Japanese ambassador Islamabad Hiroshi Inomata talked on Dar to dispute bilateral economic cooperation among the two countries. He was enlightened that structural ameliorates introduced by the new government had started to display positive...

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IT minister, operators consider 3G auction governement

KARACHI: The government is going to recommend all the stakeholders, especially the cellular mobile operators, prepare for the upcoming generation spectrum auction (3G). Each one of the components would be organized for the sake of the general public, to make sure the highest investment into a rise of networks and able to pay entity of the mobile broadband market. Minister of state added, for IT Anusha Rehman in...

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Oil prices facilitate on feeble Chinese trade information.

SINGAPORE: Oil prices facilitated in Asian market Monday as feeble Chinese trade information stoked interest on call in the world´s high energy user. New York´s main commitment, West Texas Intermediate for April consignment, was downward nine cents at $102.49 in mid-morning business. Brent North Sea crude for April was down 41 cents at $108.59.

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Pakistani Rupee formed recent boost against the US dollar

KARACHI: The Pakistani rupee managed its higher momentum as the local currency, formed recent boost against the US dollar in the currency marketplace on Monday, NewsOne reported. Foreign exchange traders told that the rupee boosted 80 passes oppose the currency in early morning business in the open marketplace. The rupee is exchanging at 102.40 to the dollar. The rupee lost...

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Rupee assembles sharp gets against dollar

KARACHI: The native currency overwhelmed the dollar on Thursday, forcing the buck to shed worth in each the inter-bank and open markets. The dollar was listed at Rs103.50 in each markets indicating that the rupee is gaining quicker than the market supposition that pushed investors to sell their holdings. The merchandising volumes dual in last 2 days within the open market. The financial organization reportable on Thursday that the country’s reserves accumulated to $8.7bn whereas the belongings of the banking company were $3.9bn. The minister of finance recently aforementioned the books would overreach $10bn by finish of this month. The forex coalition...

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