Oil rises on supply cut pledges and slow return of Gulf field
NEW YORK: Oil prices rose on Tuesday in thin pre-Christmas trading after Russia said cooperation with OPEC on supply cuts would continue...
IMF notes stability in Pakistan’s banking sector
KARACHI:Â The banking sector remains stable, but credit conditions are tight, according to a staff report by the International Monetary Fund (IMF).
At end-September...
Govt’s decision to impose 8pc tax on NTC likely to be reversed
ISLAMABAD: National Telecommunication Corporation (NTC) Managing Director Brig (r) Viqar Rashid Khan said that the government has identified the flaw in 8pc...
Cement exports decline 5.2pc in five months
ISLAMABAD: The export of cement witnessed a decrease of 5.27pc during the first five months of the current financial year (FY20) as...
Revised revenue target to be reviewed in upcoming quarters: IMF
--Official stresses implementation of Public Finance Management Law to ensure fiscal discipline in Pakistan
--Says a joint working group will be constituted by...
Cabinet decides to reduce prices of 89 medicines
With an aim to provide relief to people, the federal cabinet has decided to reduce the prices of 89 medicines, including life-saving...
IMF cuts Pakistan’s revenue target by Rs265bn
--'Tax collection target has been revised to Rs5.238tr keeping in view slippages in fiscal discipline, expenditures and revenue targets'
--'A potential blacklisting by...
ECC approves Rs6bn subsidy for Utility Stores Corporation
ISLAMABAD: The Economic Coordination Committee (ECC) on Monday approved a grant of Rs6 billion as subsidy for the Utility Stores Corporation.
The approval...
Govt, stakeholders fail to reach consensus on urea price
--Fertiliser sector says OGRA-proposed gas price increase will have a direct impact on the cost of urea production
--Govt reaffirms that 'gas price...
‘World Bank willing to invest in PIA’
ISLAMABAD:Â Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik said on Monday that the World Bank was willing to...
FBR directed to take action against officials issuing ‘bogus refunds’
ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to initiate disciplinary action against tax officials involved...
CPPA proposes Rs1.73 per unit hike in power tariff
ISLAMABAD:Â The Central Power Purchasing Authority (CPPA) has asked the National Electric Power Regulatory Authority (NEPRA) to increase power price by Rs1.73 per...
KSE-100 sheds 824 points amid lack of positive triggers
KARACHI: It was a dull start to the week at the Pakistan Stock Exchange (PSX), as the indices crumbled with the benchmark...
PPL discovers oil & gas deposits in Sindh, Balochistan
The state-owned Pakistan Petroleum Limited (PPL) has announced two oil and gas discoveries in Sindh and Balochistan.
In a letter to the Pakistan...
History suggests rally may slow for US stocks in 2020
NEW YORK:Â The outsized rally in the US stock market this year may give way to a more muted performance in 2020 if...