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Wednesday 2, September 2015
 
 
 
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Economy


Dollar floats at 104.30 rupees in open market

By: Web Desk, Uploaded: 24th August 2015

Dollar floats at 104.30 rupees in open market Karachi: On the first business day in an open market, rupee depreciated against dollar by one. Initially it was recorded at 103.50 whereas it is floating at 104.30 in the open market, Aaj Tv News reported. Karachi Stock Exchange is declining on the first day of the business working. The index declines 1400 points at...


Gold prices increased by Rs1,150

By: Web Desk, Uploaded: 21st August 2015

Gold prices increased by Rs1,150 KARACHI: Due to price increase of gold in international market, Pakistani market also increased its prices by 1,150 rupees for 10 gram. This increase takes the prices to 46,500 rupees for 10 grams. According to Sindh Sarafa Association, this increase in gold prices is caused by fall in oil prices. This constitutes for gold price...


CSF beyond 2015

By: Web Desk, Uploaded: 19th August 2015

CSF beyond 2015 The United States Congress extended its limitation on reimbursement to Pakistan under the Coalition Support Fund (CSF) by amending the National Defense Authorization Act for Fiscal Year 2014 by striking “fiscal year 2014″ and inserting “fiscal year 2015″. However, a US Congressional research report has “asked the 114th US Congress to consider whether it should...


Let us not blur SBP’s vision

By: Web Desk, Uploaded: 18th August 2015

Let us not blur SBP’s vision -Editorial The State Bank of Pakistan has unveiled its strategic plan, which covers a five-year period to help focus on key strategic priorities which include enhancement and effectiveness of monetary policy; strengthening of financial system’s stability; improved efficiency, effectiveness and fairness of the banking system; increased financial inclusion; efforts towards creating a robust payment system...


Shutter-down strike by traders community against with-holding tax

By: Web Desk, Uploaded: 31st July 2015

Shutter-down strike by traders community against with-holding tax WEB DESK: All Pakistan Traders’ Association announced a shutter down strike tomorrow to protest the 0.3 with-holding taxes on bank transactions. Lahore, Karachi, Interior Sindh, Punjab, Khyber Pakhtunkhwa, Balochistan, Azad Kashmir will observe a strike against taxation policy. This policy was recently announced in the parliament and it was criticized by the business community. PTI...


Meezan Bank strikes a good balance

By: Web Desk, Uploaded: 29th July 2015

Meezan Bank strikes a good balance WEB DESK: As discount rates fall, banks surplus funds rise and so does their exposure in investments. It gets trickier in case you are an Islamic bank, as Meezan Bank, the countrys largest Islamic bank has been doing lately. When ideally, a cut in discount rates should mean an up tick in financing or advances,...


Economy on a treadmill

By: Web Desk, Uploaded: 28th July 2015

Economy on a treadmill -Editorial Pakistan’s central bank has kept its policy rate unchanged at 6.5 percent, thereby maintaining its accommodative monetary policy stance for the next two months. This ‘wait and see’ attitude is based on some sound reasons. Banks on the other hand are making heavy investment in government papers and trades on the secondary market have...


Policy rate: What is in store?

By: Web Desk, Uploaded: 24th July 2015

Policy rate: What is in store? -Editorial The central bank Governor, Ashraf Mahmood Wathra, is expected to announce the monetary policy-for the next two months-tomorrow. Will the recommendations of the monetary policy committee, approved by the Central Board of Directors of SBP, be to hold the SBP policy rate at the present level or cut it further from 7 percent? The...


Be aware of the pitfalls

By: Farah Jamil, Uploaded: 14th July 2015

Be aware of the pitfalls -Editorial According to a Business Recorder exclusive, the Federal Board of Revenue (FBR) and the tax experts from the International Monetary Fund (IMF) are going to hold discussions in Dubai on the pitfalls of the General Sales Tax (GST) presently collected in VAT mode; they are said to be seeking to replace it with Single...


Less is more

By: Web Desk, Uploaded: 13th July 2015

Less is more -BR Research High population growth rate is one of the biggest problems in Pakistan’s economy. Yet there seems to be zero discourse on this ubiquitous issue. Such is often the case in nations where economic discourse is dictated only by the business community and macro economists, at the exclusion of the discourse generated by social...


Test of PML-N’s political will!

By: Web Desk, Uploaded: 8th July 2015

Test of PML-N’s political will! Editorial Will the PML(N) government show the spine and ensure that the law of the land is implemented in letter and in spirit? And, non-filers of income tax returns are charged 0.6 percent on banking transactions of more than Rs 50,000 in a day. Now that it is law of the land – banks will...


Relations with India in deep freeze: Dastgir

By: Web Desk, Uploaded: 2nd July 2015

Relations with India in deep freeze: Dastgir by Mushtaq Ghumman ISLAMABAD:Commerce Minister Engineer Khurram Dastgir has said that relations with India are practically in deep freeze and situation is worsening with every passing month instead of improving due to Indian leadership’s attitude. Commerce Minister’s comments came a few days after the Indian Prime Minister Narendra Modi phoned his Pakistani counterpart Prime Minister...


Opting out of budget debate

By: Web Desk, Uploaded: 25th June 2015

Opting out of budget debate Editorial Of all the legislation, parliaments do the most crucial is the passage of the annual budget. That the Opposition in the parliament would let the government pass the federal budget without offering it the obligated resistance is unthinkable, but not in Pakistan. Apparently, both on the final and penultimate days of budget discussion in...


Per capita income records significant 9.25 % growth this year

By: Web Desk, Uploaded: 21st June 2015

Per capita income records significant 9.25 % growth this year ISLAMABAD: Per capita income in dollar terms has registered a significant growth of 9.25 percent during this year and increased to US $ 1,512 from US $ 1,384 last year. The per capita income, an important economic indicator is mostly used to measure economic development of a country and also make comparison of well-being among...


Dar Sahib, mere tinkering won’t do

By: Web Desk, Uploaded: 20th June 2015

Dar Sahib, mere tinkering won’t do Editorial Federal Finance Minister Muhammad Ishaq Dar went to great lengths to explain that the Finance Bill 2015, ie, the proposed budget for next financial year, is pro-poor and it has a number of proposals that are clearly aimed at helping the weaker class of society. However, what he fails to understand is the fact...


The KPK budget

By: Web Desk, Uploaded: 17th June 2015

The KPK budget The Khyber Pakhtunkhwa (KPK) government presented a budget that envisages an 89 percent rise in its own revenue – to 54.4 billion rupees against 28.7 billion rupees budgeted in 2014-15. The major contributor to this rise would be sales tax from services budgeted to net around 44 billion rupees as opposed to around 12 billion...


Budget: Raise in government employees pay by 20 percent proposed

By: Web Desk, Uploaded: 5th June 2015

Budget: Raise in government employees pay by 20 percent proposed ISLAMABAD: Federal cabinet has proposed to raise the pay scale of government employees by 20 percent, Aaj News Reported. Ishaq Dar, Federal Finance Minister was briefing Nawaz Sharif, Prime Minister of Pakistan and federal cabinet about the upcoming budget 2015-16. A 10 percent raise has been shown in the budget documents for government employees. However,...


CPEC: It’s none of India’s business

By: Web Desk, Uploaded: 4th June 2015

CPEC: It’s none of India’s business Is the China-Pakistan Economic Corridor in any manner hurtful to the Indian economy, or does it threaten its security? The people in the world, including pro-India West, don’t think so. But that is not the case with Prime Minister Narendra Modi-led cabinet, which appears to be hell-bent on sabotaging this historic Pak-China enterprise – with...


China offering Pakistan ‘huge’ financing: Chinese assistant foreign minister

By: Web Desk, Uploaded: 20th April 2015

China offering Pakistan ‘huge’ financing: Chinese assistant foreign minister BEIJING: Pakistan needs a “huge amount of financing” for infrastructure and energy projects and China is ready to announce help when President Xi Jinping visits next week, a foreign ministry official said Friday. Islamabad has for decades been Beijing´s closest ally in South Asia, and China — which is expanding its influence in the region...


German economy minister plays down boost from EU-US trade deal: magazine

By: Web Desk, Uploaded: 11th April 2015

German economy minister plays down boost from EU-US trade deal: magazine BERLIN: Germany’s economy minister warned on Saturday against overblowing expectations for an economic boost from a trade deal between the United States and European Union but said the pact was needed to set high common standards for consumers. The European Commission is trying to finalise a deal on the Transatlantic Trade and Investment Partnership (TTIP),...


Pak-China economic corridor to bring prosperity’

By: Web Desk, Uploaded: 10th April 2015

Pak-China economic corridor to bring prosperity’ LAHORE: The Pakistan China economic corridor has strategic importance and it will bring about a new age of development and prosperity in the region. This was stated by Brig (retd) Muhammad Saeed Sharif,  a defense analyst, while addressing a seminar on the Pakistan  China friendship here at Pakistan Study Centre on Friday. Saeed Sharif said...


Pak forex surge to $16.70603 bln

By: Web Desk, Uploaded: 9th April 2015

Pak forex surge to $16.70603 bln KARACHI: Total liquid foreign exchange reserves of the country increased to dollars 16.70603 billion during the week ending on April 3, said State Bank of Pakistan (SBP). SBP’s weekly statement here Thursday said the foreign reserves held by State Bank were $11.61605 billion and the net foreign reserves with other banks amounted $ 5.08908 billion....


World Bank ready to share experience with China-proposed AIIB

By: Web Desk, Uploaded: 8th April 2015

World Bank ready to share experience with China-proposed AIIB ISLAMABAD: World Bank welcomes the new development banks, such as China-proposed Asian Infrastructure Investment Bank (AIIB) and the New Development Bank established by the BRICS countries, and is ready to share experience with them, World Bank President Jim Yong Kim has said. The new multilateral banks could help bridge financing gaps in areas such as...


Wall St up on deals, biotech boost

By: Web Desk, Uploaded: 7th April 2015

Wall St up on deals, biotech boost NEW YORK: U.S. stocks rose on Tuesday, extending two sessions of gains for the S&P 500, with deals including a bid from FedEx for a Dutch peer indicating companies still see value in the market. Shares of FedEx rose 3.3 percent to $172.14 as it seeks to buy Dutch package delivery company TNT Express for...


US stocks open higher

By: Web Desk, Uploaded: 4th April 2015

US stocks open higher NEW YORK: Wall Street stocks opened higher Friday following a report showing weaker-than-expected US economic growth as the market sought to snap a four-day losing streak. Five minutes into trade, the Dow Jones Industrial Average was at 17,692.58, up 14.35 points (0.08 percent). The broad-based S&P 500 added 2.88 (0.14 percent) at 2,059.03, while the...


Euro under pressure on jitters over Greece debt deal

By: Web Desk, Uploaded: 4th April 2015

Euro under pressure on jitters over Greece debt deal TOKYO: The euro drifted lower in Asia on Tuesday with investors following talks between debt-hit Greece and its international creditors as Athens looks to reform its bailout obligations. In Tokyo, the single currency slipped to $1.0813 and 129.92 yen, from $1.0825 and 130.10 yen in New York, while the dollar was at 120.16 yen against...


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