Creditor starts legal proceedings for Abraaj restructuring
Auctus is the second creditor, after Kuwait’s Public Institution for Social Security (PIFSS), to start legal action in the Cayman Islands, where Abraaj Holdings is registered
SC informed defective laws are hindering tracing of foreign bank accounts
The DG FIA informed the court Pakistani citizens had invested 4,240 billion UAE dirham in the Gulf nation
Oil prices fall on prospects of increasing supplies
Brent crude futures, the international benchmark for oil prices, were at $75.65 per barrel at 0329 GMT, down 23 cents, or 0.3 percent, from their last close
Mobile phone card tax suspension could cause Rs123 billion loss to national exchequer
Before the apex court decision, provinces were collecting around 19.5 percent tax on a prepaid phone card, so their revenue collection losses would touch Rs75 billion annually
Inflation to spike up after latest rupee devaluation
The country’s business community believes Pakistan would feel the pressure sooner rather than later due to an almost 13 percent dip in the value of the rupee in the last six months
Market Daily: Steepest fall after 20 sessions; market sheds 700 points
LAHORE: Indices at Pakistan Stock Exchange (PSX) posted the steepest fall on Tuesday since May 14, 2018, as Monday’s 4 per cent rupee devaluation...
Rupee devaluation not a surprise, further devaluation expected
LAHORE: The State Bank’s move to devalue the rupee by 3.6 per cent on Monday did not surprise experts; however, they suspect deficit risk...
Dubai real estate a money-laundering haven: Report
DUBAI:Â War profiteers, terror financiers and drug traffickers sanctioned by the U.S. in recent years have used Dubai's real-estate market as a haven...
Drive system in BMW i8 wins International Engine of the Year award
KARACHI: The plug-in hybrid drive system in the BMW i8 won the international engine of the year award in its category in...
US dollar touches Rs122 in interbank, closes at Rs121.50
KARACHI:  The dollar continued its upward trend in the interbank market on Tuesday closing at Rs121.50 against a dollar.
“The dollar touched Rs122 in the interbank...
Asian stocks mostly higher, as all eyes on Trump-Kim summit
Japan’s benchmark Nikkei 225 was up 0.3 percent in early trading at 22,867.41. Australia’s S&P/ASX 200 was also up nearly 0.3 percent at 6,061.30.
Oil prices inch up on cautious optimism over Trump, Kim summit in Singapore
Brent crude futures were trading at $76.56 per barrel at 0201, up 10 cents from their last close
Pakistan’s new rupee devaluation shows economic risk before election
Growing speculation Pakistan may return to IMF for loans
Amnesty scheme attracts 1000 tax returns since being unveiled
The success of the tax amnesty scheme is contingent on the Supreme Court’s decision and it was expected the hearing of the case would commence in its Lahore registry on Monday
Rupee devaluation could attract foreign investors back into stock market
Foreign investors have been pulling out their money from the stock market and were net sellers of $266 million during FY18 compared to $728 million in the corresponding period of last year