Oil prices decline on oversupply concerns as OPEC output increased in July
For the month, Brent futures are set to drop 6.2 percent, the most since July 2016, while WTI futures set to decline 5.9 percent to, the biggest monthly drop since March 2017
Tax amnesty scheme results in Rs115 billion tax collection
The FBR has fetched Rs97 billion from these declarants, of which Rs36 billion have been retrieved on overseas assets, Rs61 billion on domestic assets and $40 million has been repatriated
Chinese company interested in acquiring 51 percent stake in Fauji Foods
Inner Mongolia Yili Industrial Group Co., Ltd. produces and sells dairy products in China and internationally
Asia stocks dip to start week, following Wall Street losses
Japan’s Nikkei 225 index dropped 0.8 percent to 22,536.81 and South Korea’s Kospi edged 0.2 percent lower to 2,291.09
PSX surges 608 points in first hour of trading
LAHORE: The Pakistan Stock Exchange (PSX) surged 608.16 points, touching 43,394.61 within the first hour of opening, as it continued its momentum...
Oil prices mixed; Brent eases as trade tensions weigh
Brent crude futures fell 5 cents to $74.24 a barrel, after notching up a 1.7 percent weekly increase last week, the first gain in four weeks
UK drafts legislation, compelling offshore entities to reveal real owners of properties
According to the legislation, individuals illegally profiting from properties they own in the UK would be jailed for five years
Rupee gains Rs2.82 against dollar in inter-bank market
The dollar last week shed Rs7.60 in the open market due to an abundance of supply of US dollars in the kerb market
Iran’s rial extends record fall as U.S. sanctions loom
The rial has lost about half of its value since April because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians who fear the effects of sanctions
Declarations to whiten domestic, foreign assets gain momentum after elections
Since July 1, FBR has received more than 2,500 declarations until July 27. The number of declared assets was also not significant. The declarants have paid around Rs11 billion in taxes so far this month
Handling of economic challenges to guide investors’ sentiments next week
LAHORE:Â Experts believe the relief rally is to be fizzled out gradually over the upcoming week following the shift of focus on key...
Colgate-Palmolive to raise prices as raw materials costs surge
Colgate, which makes Speed Stick deodorants and Softsoap hand-wash, said raw material inflation had hurt second-quarter gross margins by 320 basis points
Pakistanis working and buying assets in UAE out of tax amnesty scope
The scheme is only applicable only to Pakistani residents obliged to register under the country’s law and pay tax on the purchase of foreign assets
LNG prices rise in Asia as heatwave grips Japan
Spot prices for September LNG-AS delivery in Asia were assessed at $9.75 per million British thermal units (Btu), up 25 cents from the previous week
A narrow tax base to be the main challenge for next government: Moody’s
LAHORE:Â July 25 saw Pakistan transitioning into a democratic system for the second time in its 71 year history. The former government left...