Business News
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Federal cabinet okays third tax amnesty
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[ad_1] Prime Minister Imran Khan chairs a federal cabinet meeting in Islamabad on November 23, 2018. — PID/file ISLAMABAD: The federal cabinet Tuesday formally approved a summary moved by the finance ministry, paving the way to promulgate an ordinance to offer a third tax amnesty scheme to industrialists. The finance ministry circulated a summary among…
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Banks reluctant to open LCs for oil import | The Express Tribune
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[ad_1] KARACHI: The Oil Companies Advisory Council (OCAC) has once again approached the State Bank of Pakistan (SBP) governor, requesting him to intervene following reluctance of banks to open Letters of Credit (LCs) for oil import in the wake of rapidly rising crude prices. The oil industry group, comprising refineries and oil marketing companies (OMCs),…
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Equities rise as volatility eases slightly
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[ad_1] Equities rose Tuesday as the volatility that has gripped markets after Russia’s invasion of Ukraine eased slightly. — NYSE HONG KONG: Equities rose Tuesday as the volatility that has gripped markets since Russia invaded Ukraine eased slightly, though oil extended gains as the United States contemplates releasing some of its reserves to temper prices.…
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World’s biggest crypto exchange refuses to block Russian accounts | The Express Tribune
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[ad_1] Cryptocurrency exchange Binance refused to ‘freeze’ accounts of Russian users, despite requests coming from Ukraine, where Russian troops are currently conducting a military operation, RT reported. “We are not going to unilaterally freeze millions of innocent users’ accounts,” a spokesperson for Binance told CNBC on Monday. “Crypto is meant to provide greater financial freedom…
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Market watch: Stocks rally on PM’s relief package | The Express Tribune
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[ad_1] KARACHI: Bulls maintained their grip on the Pakistan Stock Exchange on Tuesday, as the announcement of a relief package by Prime Minister Imran Khan instilled a ray of optimism among investors. The benchmark KSE-100 index stayed in the positive territory throughout the day and staged a handsome rally, gaining 342 points by the end…
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Oil prices soar as Ukraine conflict stokes supply concerns | The Express Tribune
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[ad_1] LONDON: Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25%, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the…
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PM Imran unveils incentives package for export industries | The Express Tribune
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[ad_1] LAHORE: Prime Minister Imran Khan on Tuesday unveiled an incentive package for the promotion of the country’s industrial sector, with a focus on attracting investment from local and expatriate business communities. The package is also aimed at strengthening the country’s export-oriented industrial and manufacturing base. According to the premier, overseas Pakistani entrepreneurs, along with…
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Govt set to offer third tax amnesty scheme | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to promulgate an ordinance to offer a third tax amnesty scheme in as many years — this time to industrialists — by offering them to whiten their black money at 5% rate by investing in the manufacturing sector. The amnesty is part of an industrial package that also includes…
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E-payments show robust growth | The Express Tribune
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[ad_1] KARACHI: After receiving a boost in the wake of Covid-19 lockdowns, the uptrend in digital payments continued as Pakistan recorded a robust increase in the number of electronic transactions in the first quarter of fiscal year 2021-22. According to the State Bank of Pakistan’s (SBP) Payment Systems Review released on Monday, e-banking continued to…
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Call to introduce new marble technology | The Express Tribune
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[ad_1] ISLAMABAD: Several construction sector projects are being developed in Dubai and the rest of the UAE and Pakistan has immense potential to increase exports of its value-added marble products to the Middle Eastern nation, said Dubai-based businessmen Amin Noorani and Nasir Ahmed. They made the remarks in a meeting with Islamabad Chamber of Commerce…
