Business News
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PSX continues record breaking streak, crosses 75,000 points | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) surpassed the 75,000 points mark for the first time on Wednesday after the global index provider MSCI upgraded PSX’s status with the addition of one new company to its mainstream Frontier Market Index. The benchmark KSE-100 Index hit a new record high at 75,115 points, adding 0.78% or…
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Minister unveils Sindh’s industrial expansion plan | The Express Tribune
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[ad_1] KARACHI: Sindh Minister for Industries and Commerce, Jam Ikramullah Dharejo, announced that the Sindh government is planning to establish new industrial zones across the province, primarily in Karachi, as part of a new industrialisation policy. The aim is to attract both local and foreign investors and businessmen to boost economic activities throughout the province.…
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Pakistanis own properties worth billions of dollars in Dubai
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[ad_1] General view of Palm Jumeirah development, in Dubai, United Arab Emirates, June 1, 2023. — Reuters ISLAMABAD: A global collaborative investigative journalism project has revealed the ownership of properties of the global elite in Dubai. The list includes political figures, globally sanctioned individuals, alleged money launderers and criminals. Pakistanis have also been identified on…
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BRICS: India, Nigeria ditch US dollar, will trade in local currency
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[ad_1] Doubts in US dollar begin to seep in as new currency comes to the rescue. — Business Forward/File In a bid to counter the United States dollar’s supremacy, BRICS member countries India and Nigeria have agreed to trade in their local currencies and not the greenback anymore, Watcher Guru reported. The two countries have…
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IHC stays govt’s plan to block SIMs of non-filers till May 27 | The Express Tribune
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[ad_1] ISLAMABAD: The Islamabad High Court (IHC) issued a stay order till May 27 on Tuesday preventing the government from blocking mobile phone SIMs of tax non-filers. Chief Justice Aamer Farooq led the proceedings of the petition filed by a private mobile company. Last week, the telecom operators after several deliberations with the Federal Board…
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UBL regional office to be set up in Karachi’s Naya Nazimabad
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[ad_1] UBL logo seen on the bank’s building in this undated image. — UBL website/file KARACHI: A new regional office of the United Bank Limited (UBL) — a leading bank of Pakistan, is set to be established in Karachi’s Naya Nazimabad, on an area of 14,092 square yards. The bank has acquired a commercial plot to…
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Ministries clash on SOE privatisation | The Express Tribune
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[ad_1] ISLAMABAD: The fate of 40 state-owned enterprises (SOEs) deemed strategic and essential by respective ministries but not accepted as such by Deputy Prime Minister Ishaq Dar remained undecided after Finance Minister Muhammad Aurangzeb chaired a cabinet committee meeting on Monday. The Cabinet Committee on State-Owned Enterprises (CCoSOEs) refrained from confirming the classification of these…
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FBR proposes charging non-filers Rs90 out of every Rs100 mobile recharge | The Express Tribune
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[ad_1] ISLAMABAD: In a bid to bolster tax revenues and broaden the nation’s tax base, the Federal Board of Revenue (FBR) has proposed a bold new initiative targeting non-filers. Under the initiative, the FBR plans to implement a substantial increase in withholding tax, hiking it from 2.5 per cent to a staggering 90 per cent…
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Pakistan stocks hit record high just shy of 74,000 points
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[ad_1] Pakistani traders stand beneath an electronic board displaying share prices at the Pakistani Stock Exchange (PSX). — INP/File KARACHI: Stocks on Monday briefly breached 74,000 points barrier amid reports Pakistan may sign a deal with International Monetary Fund (IMF) for a new four-year programme of up to $8 billion by end-July, traders said, but…
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Saudi Arabia’s new $22bn 109-mile Riyadh Metro to connect desert with cities
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[ad_1] Riyadh Metro is one of the world’s biggest metro projects. — Business Insider/File The Riyadh Metro is a rapid transit system under construction in Saudi Arabia that will cover an area of 109 miles. The project, set to be one of the largest public transport systems, is part of the Riyadh Public Transport Project…
