China approves rollover of $2b SAFE deposits
IMF puts pressure on Pakistan to bridge $6b gap, urges bilateral partners to fulfill commitments
Is Ernst & Young about to exit Pakistan?
Ernst & Young, the global accounting and professional services firm that goes by its brand name EY, is re-evaluating its relationship with...
NAB starts graft probe against Customs DG
-- Complainant claims DG created and operated an unlawful “incentive system” at Faisalabad Dryport
ISLAMABAD: The National Accountability Bureau (NAB) has formally started its...
SECP disposes proceedings against K-Electric, imposes fine on CEO and directors
KARACHI: Securities and Exchange Commission of Pakistan (SECP) on Friday said it had disposed of proceedings initiated against the CEO and board of...
Customs officers grapple with each others over fraudulent import scam worth $1.4bn
ISLAMABAD: Customs officers are reportedly grappling with each other's over fraudulent imports scam worth $1.4 billion.
Sources said that Syed Shakeel Shah has...
Fresh audit reveals PIA’s market share greatly diminished between 2008-2017
According to the audit report, the state-owned airline couldn’t continue as a going concern without the assistance of the government since it had accumulated a loss of Rs361 billion till December last year
Has CPEC hit a major roadblock?
China’s infrastructure building spree across the nation seems to have been halted due to Pakistan’s inability to pay its loans
Naqvi shouldn’t be blamed for Abraaj’s disintegration, says lawyer
Mr Naqvi’s lawyer Habib Al Mulla, executive chairman of Baker & McKenzie said the Abraaj scandal had inflicted “some damage” to Dubai’s reputation and raised fingers at the local regulators including DFSA
President stresses need to automate audit processes
President Dr Arif Alvi has emphasised the need to introduce modern technology in the audit processes so as to ensure maximum transparency,...
Abraaj fund investors hire Duff & Phelps to help recover money: sources
The advisory firm will seek to trace an estimated $33 million owed by Abraaj relating to the Infrastructure and Growth Capital Fund
Saudi Arabia to announce slight rise in oil, gas reserves after audit – source
For almost 30 years - despite rising production, large swings in oil prices and improved technology - Riyadh has annually reported the same number for reserves at around 261 billion barrels, according to a statistical review by BP
Special audit of PIA-owned Roosevelt Hotel recommended
Profit of the New York hotel plunged from $21m in 2008 to $3m in 2017
ISLAMABAD: The auditor general of Pakistan has been...
Abraaj shutting down London office, as woes mount
Earlier this week, Bloomberg reported Abraaj’s fund unit had received an offer of $1 from private equity firm Actis, sources aware of the development disclosed
AGP forms team to conduct forensic audit of loss-making SOEs
ISLAMABAD: The Auditor General of Pakistan (AGP) has constituted a four-member team to conduct forensic audit of major loss-making state-owned entities (SOEs).
According...
Stakeholders point out serious flaws in OGRAs foreign exchange losses adjustments
The stakeholders of the oil sector have pointed out serious flaws in the policy of the Oil and Gas Regulatory Authority (OGRA)...