Business

Pakistanis will have to embrace tax culture: Shabbar Zaidi

Web Desk - (Syed Ahad Hussain) ISLAMABAD: Federal Board of Revenue (FBR) chairman Shabbar Zaidi said on Friday Pakistanis will have to embrace the tax culture as steps are being taken to include the middle class in the tax system. Talking to media here at the federal capital, the FBR head vowed to generate tax from income instead of commodities...

126 Views 0

India’s engineers struggle for work as jobs crisis worsens

CHINCHWAD: Santosh Gurav gained a bachelor’s degree in technology from a mid-tier college in western India last year, specializing in electrical engineering and hoping to land a job in industrial automation. Six months on, the 27-year-old repairs mixer-grinders, table fans and other household appliances at a cramped shop in the western city of Pune. On better days, he picks up...

279 Views 0

Stocks rise in broad rally, Treasury yields gain

NEW YORK: Global equity markets surged on Monday, lifted by talk of more stimulus from China and by a broad rally on Wall Street that overcame a plunge in Boeing shares after one of its newest jets crashed, while U.S. debt yields rose on improved risk appetite. China’s main bourses clawed back almost half the 4 percent they lost on...

209 Views 0

U.S. February job growth weakest in nearly one and a half years

WASHINGTON: U.S. employment growth almost stalled in February, with the economy creating only 20,000 jobs, adding to signs of a sharp slowdown in economic activity in the first quarter. The meager payroll gains reported by the Labor Department on Friday were the weakest since September 2017, with a big drop in the weather-sensitive construction industry. They also reflected a decline...

248 Views 0

Trump’s budget to land with a thud on Monday

WASHINGTON: When President Donald Trump proposes his 2020 federal budget on Monday, official Washington will likely have a quick look, shrug and move on, marking another stage in the quiet decay of the U.S. government’s traditional policy-making processes. There was a time when the release of the president’s budget was a red-letter day on the calendar of Washington wonkery, with...

233 Views 0

India’s Reliance plans major expansion of fashion store business

MUMBAI: Reliance Industries Ltd plans to grow the number of low-cost Reliance Trends fashion stores across India to 2,500 from 557 over the next five years and integrate them with its online business, two people briefed on the plans said. The expansion, which has not been reported before, is the latest move by the conglomerate’s billionaire owner Mukesh Ambani to...

192 Views 0

Chinese equity plunge leads world stocks lower as growth fears haunt

LONDON: Chinese shares were slammed more than 4 percent lower on Friday after data showed exports contracting by a fifth, deepening fears for the world economy and pushing global equities to three-week troughs. The February data, well below expectations of a 4.8 percent drop, worsened the brittle mood on world markets, following the European Central Bank’s announcement slashing growth forecasts...

187 Views 0

Dark days ahead for Indian rupee over trade, election jitters: Reuters poll

The Indian rupee’s weak start to 2019 is an indication of how it will perform over the coming year, strategists in a Reuters poll said, citing uncertainty ahead of a general election in May and a potential trade conflict with the United States. Last year, the currency tumbled about 10 percent and hit a record low of 74.485 to the...

224 Views 0

Trump plans to end India’s preferential trade treatment

WASHINGTON: US President Donald Trump said on Monday he intends to end India’s preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty-free. “I am providing notice of my intent to terminate the designation of India as a beneficiary developing country under the Generalized System of Preferences (GSP) program,” Trump...

258 Views 0

Daimler, BMW to invest 1 billion euros in venture to rival Uber

BERLIN: German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business on Friday to compete with mobility services provided by Uber and other tech firms. The luxury car firms said they would invest more than 1 billion euros ($1.13 billion) to expand the joint venture, shifting beyond manufacturing and car sales toward pay-per-minute or pay-per-mile...

286 Views 0

Honda to shut UK car plant in 2022 with the loss of 3,500 jobs

LONDON: Japanese car maker Honda is set to announce it’s closing its only British car plant in 2022 with the loss of 3,500 jobs, a lawmaker told Reuters, in the latest blow to the UK car industry as Brexit approaches. A closure of Honda’s Swindon factory in southern England would be its second plant shuttering in 2022. The automaker said...

218 Views 0

Pak-Saudi relationship starts new chapter of mutual ties: Razak Dawood

ISLAMABAD: Adviser to Prime Minister (PM) on Commerce Abdul Razak Dawood says a new chapter has begun in bilateral relations of Pakistan and Saudi Arabia. "The Saudi announcement of huge investment in various sectors of Pakistan will improve our economy" he said while addressing Pak-Saudi business conference in Islamabad. Saudi Minster for Commerce Majid Al-Qassabi said his delegation comprising representatives...

303 Views 0

PSX remains bearish, sheds 37 points

KARACHI: The KSE-100 Index closed today (Thursday) at 40506.98 points as compared to 40544.11 points on the last working day with a negative change of 37.13 points. The total turnover was 123,619,400 as compared to 160,241,810 on the last working day with Lotte Chemical having the highest turnover of 25,633,000. Total 339 companies’ transacted shares in the Stock Market today...

259 Views 0

OPEC cuts oil supply steeply but sees growing 2019 headwinds

LONDON: OPEC said on Tuesday it had cut oil production steeply under a global supply deal, although it flagged headwinds confronting its efforts to prevent a glut this year including weaker demand and higher rival output. In a monthly report, OPEC said its oil output fell almost 800,000 barrels per day in January to 30.81 million bpd. That is still...

246 Views 0

Sindh CNG stations reopen after two days

KARACHI: Compressed natural gas (CNG) stations across the Sindh reopened on Sunday after being closed for two days in the province. The Sui Southern Gas Company (SSGC) on Thursday had suspended gas supply to all CNG stations due to a shortage of 100 million square feet of gas. The company’s spokesman said the decision had been taken to fulfill the...

267 Views 0

Deepening Crisis: CNG stations in Sindh shut down for third consecutive day

KARACHI: The gas supply to compressed natural gas (CNG) filling stations across Sindh will remain suspended in Sindh due to low gas pressure. The SSGC spokesman said the decision had been taken to fulfill the demand of domestic and commercial customers. Earlier, Sindh Chief Minister Murad Ali Shah has written a letter to Prime Minister Imran Khan as the gas...

248 Views 0

NFC meeting chaired by Finance Minister Asad Umar held

ISLAMABAD: Finance Minister, Asad Umar on Wednesday chaired the first meeting of the reconstituted National Finance Commission (NFC) in Islamabad today with Finance Minister Asad Umar in the chair. The meeting discussed the financial position of the provinces and the centre with various recommendations put forward for better distribution of national resources under the new NFC award. The meeting formed...

229 Views 0
Junior - Taleem Aam Karaingay - Juniors ko Parhaingay