Total external debt & liabilities soar to $99.1 billion by end of December 2018

During the first half (July-December) of FY19, the government procured $11.3 billion loans from several countries compared to $8.6 billion till the end of June last year

State Bank amends restrictions imposed on advance payments against imports

In mid-July, the central bank had revised the instructions relating to advance payment facility allowed to importers through authorized dealers and had also restricted the import on open account basis to manufacturing and industrial users for import of spare parts/raw materials only

Monster of circular debt resurfaces, goes beyond Rs729bn

ISLAMABAD Despite tall claims of good governance by Pakistan Muslim League-Nawaz (PML-N) government, the menace of circular debt has resurfaced once again to...

Oil edges up on Saudi output cut and Iran sanctions, but slowing economic growth drags

In July, Saudi Arabia told the producer group of the Organization of the Petroleum Exporting Countries (OPEC) that it had curbed production by 200,000 barrels per day (bpd) to 10.288 million bpd

Goldman Sachs chief Blankfein to retire soon

NEW YORK: Longtime Goldman Sachs chief executive Lloyd Blankfein is in talks to retire and has been contributing to the bank’s choice...

Try Try Again

Mother of two teenaged boys, daughter of Anwar Moosajee (owner of the famous A. Moosajee and sons), a food and nutrition scientist,...

ZTE seeks resolution of US export ban

BEIJING: China’s ZTE is seeking a resolution to a U.S. ban on selling it parts and software that it has said threatens...

Nokia set to introduce efficient 5G network chipsets in 3rd quarter of 2018

FRANKFURT: Nokia is introducing new silicon chipsets for running next-generation 5G wireless networks that promise to cut antenna size in half, triple...

In sharp U-turn, monetary policy easing back in play across Asia

A softer dollar and lower oil prices played an important role in the turnaround. But crucially for Asia, regional growth engine China is having a worse than expected start to the year and is exporting disinflation to the rest of the region

Govt urged to remove import duties on industrial machinery

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Ahmed Hassan Moughal on Thursday lauded the government’s initiative for removing customs duty on...

How HSBC went kaput three times trying to establish a presence in Pakistan’s banking sector

LAHORE: Many foreign banks have forayed into Pakistan’s banking sector with aplomb in the last few decades, namely Citibank, Barclays, HSBC, Crédit...

PM wants exporters to push country’s exports to $100bn

LAHORE: Prime Minister of Pakistan Shahid Khaqan Abbasi on Sunday stressed upon the exporters to increase Pakistan's exports to at least $100...

‘Tariff structure being rationalised to improve Pakistan’s industrial competitiveness’

--PM's adviser says govt is targeting a $200bn share in Chinese imports LAHORE: Adviser...

Bags carry Hermes to record sales in 2018

Hermes saw its strongest growth in China and South Asian countries with a 14pc increase when measured in constant exchange rates PARIS: French...

Market Daily: Waning investor confidence leads to PSX losing 411.62 points

LAHORE: The final day of the week saw investors opting out of the market. Indices added on to the losses as the...

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FBR proposes up to Rs40,000 tax for shopkeepers

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed a maximum Rs40,000 fixed tax for shopkeepers, Pakistan Today has learnt. As per the documents, the tax...

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China to target around 6pc growth in 2020, step up state...

BEIJING: China plans to set a lower economic growth target of around 6pc in 2020 from this year's 6-6.5pc, relying on increased state infrastructure...