Fund announced for Saudi filmmakers
RIYADH: Private-sector businesses in Saudi Arabia on Wednesday were ordered to introduce enforced remote working for all employees for 15 days in an attempt to prevent the spread of the…
ASO recovers smuggled betel nut, lodges FIR
KARACHI: Anti-smuggling Organization (ASO) of MCC Preventive Karachi has recovered large quantity of smuggled betel nut (areca) and rice from Metroval Banaras area and lodged an FIR against the financiers…
Business community not happy with just 75bps cut in policy rates
KARACHI: The business community, which was expecting at least 200 basis points reduction in the interest rates, expressed dissatisfaction over the nominal 75 basis points cut to 12.5 percent. The…
Gold prices surge Rs500/tola
KARACHI: Bullion prices rose Rs500/tola in the local market on Tuesday. According to the data released by the All Sindh Saraf Jewellers Association, gold rates in the local market increased…
SECP Introduces Cyber Security Framework for Insurance Sector
ISLAMABAD: The SECP has issued guidelines on cyber security framework for the Insurance Sector, providing principles to make the information technology systems of insurance companies and their partners secure and…
Coronavirus and steep fall in oil prices affecting economy
Karachi: President, Lasbela Chamber of Commerce and Industry (LCCI) has said that following the twin shocks of COVID-19 as pandemic and global oil price reduction, Pakistan’s export-driven strategy has signaled…
Unease increases among lawyers of Sindh
KARACHI: An unease increases among lawyers of Sindh as figures of patient suffering from Novel Coronavirus increases swiftly. The lawyers are anticipating a closure of courts in Sindh and their…
SHC adjourns fabric case third alleged assessment attempt by DIT
KARACHI: A customs appellate bench of High Court of Sindh (SHC) adjourned hearing of a petition filed by Mengal Trading company which imported a consignment of fabric. Ms Dil Khurram…
State Bank reduces interest rates by 75bps to 12.5pc
KARACHI: Monetary Policy Committee (MPC) of State Bank of Pakistan decided to cut the policy rate by 75 bps to 12.50 percent. The decision reflected the MPC’s view that the…
KCCI asks members to submit fee online through any HMB branch
KARACHI: Keeping in view the rising fear amongst the masses due to the outbreak of coronavirus, the Karachi Chamber of Commerce & Industry (KCCI) has advised all its members to…
Airlines to go bankrupt due to coronavirus
SYDNEY: Global aviation consultancy firm CAPA notes most airlines in the world will be bankrupt by the end of May and only a coordinated government and industry action right now…
No grocery store or pharmacy to be closed in any circumstances, says CM Murad Ali Shah
KARACHI: In view of the coronavirus emergency, Sindh’s chief minister on Monday said his government will not order the closure of groceries, general stores or pharmacies in the province in…
IMF relaxes budget deficit ceiling
ISLAMABAD: The International Monetary Fund (IMF) has agreed to relax budget deficit ceiling aimed at allowing Pakistan to meet emergency fiscal needs to fight deadly coronavirus contagion that has started…
Gold falls below $1,500 as it is dragged into the global market rout
Gold has been swept up in the broad market sell-off to fall below $1,500 on Monday, down $200 from its peak early last week. The precious metal hit a low…
Fake hand sanitizers on sale as genuine products disappear, Masks shortage reported Karachi swarm medicine market for masks, sanitizers
KARACHI: Amid increasing number of Novel Coronavirus cases in Sindh, residents of Karachi panicked to buy masks and hand sanitizers but are ending up getting fake sanitizers and masks at…
SHC stay assessment under disputed PCT Pre-admission notice issued in petition by Oreal Ceramic Industries (Pvt) Limited
KARACHI: Pre-admission notices were issued for April 09 by a custom appellate bench of High Court of Sindh (SHC) in a petition filed by Oreal Ceramic Industries (Pvt) Limited challenging…
Hong Kong’s Cathay Pacific to sell six Boeing aircrafts to BOC Aviation
Hong Kong’s Cathay Pacific Airways on Monday said it would sell six Boeing 777-300ER aircrafts and its associated equipment for $703.8 million to BOC Aviation Ltd. The sale will enable…
Retail store closures in the US could explode because of the coronavirus
2019 brought with it record store closures in the retail industry in the U.S. 2020 looks like it is about to be a lot worse. With a coronavirus pandemic hitting…
FBR amending Rules to broaden the scope of transit trade to Central Asian states
KARACHI: The Federal Board of Revenue (FBR) has proposed certain amendments in Customs Rules and Transit Trade Rules as a seamless transit trade would magnify Pakistan’s role in the immediate…
Misclassification of imported mobile parts; Revenue evasion reference prepared against M/s Three Biz Telecom
KARACHI: Customs Intelligence and Investigation has referred a case to Federal Board of Revenue (FBR) seeking approval to proceed with the legal action against M/s Three Biz Telecom, which has…