Business News
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Telecom sector calls for reducing advance tax | The Express Tribune
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[ad_1] ISLAMABAD: The telecommunication sector in its tax proposals for fiscal year 2022-23 has urged the government to reduce advance income tax (AIT) from 15% to 8%. Currently, over 193 million telecom users in the country are subjected to exorbitant taxes of 34.5% – including 19.5% goods and services tax (GST) and 15% AIT, making…
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Refineries pin hope on new govt | The Express Tribune
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[ad_1] ISLAMABAD: As a new oil refining policy could not be finalised for a couple of years during the tenure of Pakistan Tehreeke-Insaf (PTI) government, the oil refineries are now looking at the new government, hoping it will make swift headway and approve the much-awaited policy. This will pave the way for boosting oil refinery…
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‘Like family’: Japan’s virtual YouTubers make millions from fans
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[ad_1] Photo: AFP/file TOKYO: Mayu Iizuka sheds her soft-spoken personality and starts cackling, screaming and waving wildly in a makeshift studio in Tokyo as her avatar appears on a livestream before hundreds of fans. Virtual YouTubers like Iizuka, who voices and animates a character called Yume Kotobuki, have transformed a niche Japanese subculture into a…
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Oil prices rise more than 1% | The Express Tribune
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[ad_1] HOUSTON: Oil prices rose more than 1% on Friday and were set to rise for a second consecutive week, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. Brent futures rose $1.43, or 1.3%, to $112.31 per barrel by 1618 GMT, while…
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Pakistan’s exports to China up nearly 17% in Q1 | The Express Tribune
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[ad_1] BEIJING: Pakistan’s exports to China crossed $1.039 billion in the first quarter of 2022, recording a nearly 17% increase from January to March this year, as per the General Administration of Customs of China (GACC). According to data from GACC, in the first three months of this year, China’s exports to Pakistan also increased…
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State Bank revises office timings | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has revised the working days and timings with immediate effect. In a statement issued on Friday, the central bank notified the revised timings ie Monday to Thursday from 9am to 5.30pm, with prayer/ lunch break from 1.30pm to 2.15pm. Whereas, the office hours on Friday would be…
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Rupee sees fresh depreciation | The Express Tribune
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[ad_1] KARACHI: Pakistani currency came under renewed pressure, as it suddenly depreciated 0.5% (around Re1) to a two-week low at Rs186.63 against the US dollar on Friday as no meaningful progress had been made in acquiring fresh bailout packages from the friendly countries. The rupee was seen consolidating around Rs185-186 before Eid holidays on expectations…
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Trade deficit peaks at $39.3 billion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit crossed $39 billion in first 10 months of the current fiscal year, as the pace of increase in imports was double than the surge in exports, leaving the new government in search of dollars amid its weakening will to take tough policy decisions. The $39.3 billion gap between exports and…
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EU tweaks Russia oil sanctions plan | The Express Tribune
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[ad_1] BRUSSELS: The European Commission proposed changes to its planned embargo on Russian oil to give Hungary, Slovakia and the Czech Republic more time to shift their energy supplies, EU sources said, although failed to reach a breakthrough on Friday. The EU executive set out the embargo this week as part of its toughest-yet package…
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Govt asked to develop strategy to avoid loans | The Express Tribune
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[ad_1] ISLAMABAD: The key focus of the government should be on evolving a new strategy to utilise indigenous resources and get rid of IMF loans to run the economy, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. In a statement on Friday, he underlined that tough conditions of the International Monetary…
