Business community rejects 100bps hike in interest rates
KARACHI: Business community has lashed out at the State Bank of Pakistan (SBP) for jacking up key interest rate by 100 basis points to 13.25 percent for the next two…
TDAP to hold Pakistan Pavilion at textile sector expo in New York
KARACHI: Trade Development Authority of Pakistan (TDAP) has organized a Pakistan Pavilion at the summer 2019 edition of Texworld USA, Apparel Sourcing USA and Home Textiles Sourcing being held from…
M/s Steel Vision files complaint against Deputy Director Sanam Qureshi and Superintendent Dost Muhammad
KARACHI: Desperate, M/s Steel Vision has lodged a complaint with Director General Audit Inland Revenue & Customs (South) against Deputy Director Customs Intelligence Sanam Qureshi and Superintendent SIU Dost Muhammad…
Under threat Superintendent CIU seeks action against Assistant Collector
KARACHI: Superintendent CIU Dost Muhammad has sought protection for him and his family after receiving threats of dire consequences from a lawyer and Assistant Collector Customs, Karachi Export Processing Zone…
US deeply interested in expanding trade, investment ties: Chad Miner
KARACHI: Chief of the Economic Unit of Consulate General of United States Chad Miner has said that the US government was deeply interested in expanding trade and investment ties between…
SBP increases interest rates by 100bps to 13.25pc
KARACHI: The State Bank of Pakistan (SBP) has announced to increase the interest rates by 100bps to 13.25 percent for July and August 2019. Addressing a press conference on Tuesday,…
Pakistan Customs undertakes biggest ever shakeup to control smuggling
KARACHI: As part of the Prime Minister’s drive to change Federal Board of Revenue (FBR), the Customs Wing has undertaken one of its biggest ever shakeup for meeting the challenging…
ASO Karachi seizes large quantity of smuggled betel nut
KARACHI: Customs Intelligence and Investigation has started raiding markets and warehouses housing smuggled goods, as the government has planned an across country crackdown on smuggling. Director General Customs Intelligence and…
SBP releases 3rd quarterly report on state of economy for FY19
KARACHI: While Pakistan’s economy moved along the stabilization phase led by demand management policies, vulnerabilities in the external and fiscal sectors persisted during Jul-Mar FY19, according to the State Bank…
WANdisco partners with Databricks
LONDON: WANdisco, the live data company, has announced a partnership with Databricks the leader in unified analytics and founded by the original creators of Apache SparkTM, to accelerate and dramatically…
Abcam acquires EdiGene’s knock-out cell lines and lysates portfolio
LONDON: Abcam, a global innovator in life science reagents and tools, announced the acquisition of the entire live cell line and lysates portfolio of EdiGene Inc, a leading company focused…
EMMAC acquires 100% of Terre Verde
LONDON. EMMAC Life Sciences Ltd, the leading European independent medical cannabis and wellness company, has acquired 100% of Terra Verde, LDA, a Portuguese genetics and cultivation company. This acquisition establishes…
Masraf Al Rayan posts net profit Of QAR 1.078 billion during the first half of 2019
DOHA: Masraf Al Rayan Bank has announced its financial results for the six months ending 30 June 2019, achieving a net profit of QAR 1.078 billion, an increase of 1.15%…
Asem Iftikhar appointed Director IRS Intelligence Karachi
KARACHI: The Federal Board of Revenue (FBR) has posted Asem Iftikhar as the Director of Inland Revenue Intelligence and Investigation Karachi, as the board plans to tighten the noose around…
SGX RegCo consults on proposed enhancements to securities trading auction mechanism
SINGAPORE: Singapore Exchange Regulation (SGX RegCo) is seeking feedback on possible changes to the auction mechanism in the securities market, to consider their feasibility for implementation. The proposed enhancements are…
Mobile phones under personal baggage exempted from taxes
KARACHI: The government has exempted mobile phones imported under personal baggage scheme from duties and taxes, officials said on Monday. The Federal Board of Revenue (FBR) said mobile phones brought…