Commerce dept backs Trump’s proposal to impose tariffs on steel, aluminum
WASHINGTON: The Commerce Department is urging President Donald Trump to impose tariffs or quotas on imported aluminum and steel, which it calls...
OECD treaty regulations bar member nations from prosecuting its nationals
ISLAMABAD: According to regulations of the Organisation for Economic Co-operation and Development (OECD) agreement, no member nation can prosecute its nationals for having...
Parliamentary panel dismisses KP industry’s claim of gas overbilling
ISLAMABAD: A parliamentary panel dismissed Khyber-Pakhtunkhwa industries claim of overbilling after Sui Northern Gas Pipeline’s (SNGPL), managing director promised to resolve the...
Government contemplating withdrawal of electricity surcharge for Punjab’s textile industries
LAHORE/KARACHI: Punjab and federal governments are contemplating to provide energy pricing subsidies to textile manufacturers to make them more competitive in international...
Law ministry advises govt against notifying drug price increases
ISLAMABAD: The government has been told to withhold a drug price revision notification by the Law Division regarding change in prices of...
Govt allows PSO to import furnace oil for power sector after three-month ban
ISLAMABAD: The government lifted a three-month ban on import of furnace oil as it directed state-owned Pakistan State Oil to ensure import...
Being put on FATF list, may spike up banks foreign transaction costs
KARACHI: Pakistani banks could see a major spike in costs of their foreign transactions if the country is put on the international...
SWIFT makes headlines as hackers steal $6mn from Russian bank
MAGNITOGORSK: Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international...
SECP adopts three AAOIFI Shariah Standards
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the adoption of three Shariah Standards of the Accounting and Auditing...
U.S crude oil consolidates gains, as dollar slips to three-year low
TOKYO: U.S. crude extended gains in subdued trade on Friday as the dollar slipped to a three-year low, with many Asian markets...
General Electric divests lighting business, kicks-off restructuring drive
BOSTON: U.S. industrial conglomerate General Electric has reached a deal to sell parts of its overseas lighting business to a company controlled...
Senate approves setting up of tribunal to challenge Nepra decisions
ISLAMABAD: A key legal change has been approved by a senate body to clip the powers wielded by National Electric Power and...
MCB Bank profits plunge 14.03pc to Rs31.01bn
LAHORE: The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on February 15, 2018, to...
Meezan Bank plans capital-boosting sukuk
SYDNEY: Meezan Bank, Pakistan’s largest sharia-compliant lender, aims to raise up to Rs7 billion ($63.34 million) through capital-boosting Islamic bonds, or sukuk, according...
Aamir Ibrahim appointed VEON Group Head of Emerging Markets
LAHORE: VEON Limited (formerly VimpleCom the parent company of Jazz), announced today that Aamir Hafeez Ibrahim will replace Jon Eddy as the...