CNG sector needs urgent bailout package
KARACHI: The All Pakistan CNG Association (APCNGA) on Monday said the CNG sector is collapsing due to the economic slowdown and it requires an urgent bailout package from the government.…
EU focuses antitrust probe on Facebook’s online classifieds service
BRUSSELS: The EU is focusing the next stage of its competition probe into Facebook on whether the social media network is distorting the classified advertising market by promoting its free…
China to Start Buying Oil for State Reserves After Price Crash
BEIJING: China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter. The world’s…
Agha Shahab asks Sindh Govt. to discontinue SRB’s tax collection for next four to six months
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has requested Chief Minister Sindh to devise some kind of an effective mechanism for providing immediate relief…
KCCI seeks 50 pc reduction for three months in tax, petroleum prices, interest rates
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has requested the Federal Government to permanently withdraw Industrial Support Package Adjustment (ISPA) arrears which would provide…
North Karachi Industries reject KE’s formula of average billing
KARACHI: North Karachi’s industrialists have refused to pay ad-hoc bills on average billing and demanded K-Electric to generate the bills according to the units used in the industries. In a…
FBR collects Rs3.06tr in taxes, misses target
ISLAMABAD: The month of March proved catastrophic for the Federal Board of Revenue (FBR) that missed its collection target by a record Rs263 billion despite releasing Rs12 billion fewer tax…
US gasoline prices are below $2 per gallon on average for first time in four years
NEW YORK: As the coronavirus outbreak wreaks havoc on global markets, U.S. consumers are catching a break in one area: at the pump. For the first time in four years,…
Toyota suspends vehicle production in Vietnam due to COVID-19 epidemic
HANOI: Toyota Motor Vietnam (TMV) has temporarily suspended vehicle production in order to prevent the COVID-19 outbreak from spreading, Vietnam News Agency reported. The outbreak has impacted all aspects of…
China’s manufacturing activity expanded in March, defying expectations of a contraction
BEIJING: China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak. Analysts polled by Reuters had expected…
Byco Puts Its Refining Complex On “Cold Circulation”, Due To Lack Of POL Demand
Karachi: Byco Petroleum Pakistan Limited, Pakistan’s largest oil refinery by design and installed capacity, has been constrained to put its refinery on “cold circulation”, due to absence of demand for…
CPHGC Supports the Fight Against Coronavirus
Karachi: China Power Hub Generation Company (Pvt.) Ltd. today donated 1000 kg of ready-to-spray disinfectant and 2000 face masks to the local Hub administration in support of its fight against…
Putin Orders Measures to Support Small, Medium Enterprises Amid COVID-19 Pandemic by Monday
MOSCOW (Sputnik) – Russian President Vladimir Putin on Sunday instructed the government to take a set of urgent measures to support small and medium enterprises in Russia amid the COVID-19…
Pharma Bureau Urges Uninterrupted Movement of Medicines and Pharma Employees
Shortage of Medicines feared in the country amid lock-down as despite the exclusion, security agencies are hindering movement and transportation of medicines and employees of Pharma companies. The Pharma Bureau…
UK Credit Rating Cut Due to Coronavirus Pandemic, Uncertainty Over Post-Brexit Trade Deal With EU
LONDON: The move comes shortly after UK Prime Minister Boris Johnson confirmed on Friday that he tested positive for the coronavirus, and despite mild symptoms, will self-quarantine in Downing Street.…
Trump signs historic $2 trillion stimulus after Congress passes it Friday
Washington (CNN) President Donald Trump signed into law Friday afternoon a historic $2 trillion stimulus package as the American public and the US economy fight the devastating spread of Covid-19.…
ECC Decision to release subsidy heartening for Karachi: KE
Karachi: K-Electric welcomes the Economic Coordination Committee’s (ECC) decision to facilitate the power utility through advance provision of PKR 26 billion as subsidy. Provision of this amount will off-set a…
Crocs donating its shoes to healthcare workers
New York (CNN Business) Go into most US emergency rooms, and you’ll find staff wear Crocs. Now their manufacturer has announced a program to donate 10,000 a day to healthcare…
K-Electric encourages online bill payment, suspends physical meter reading, during the Covid19 lockdown
Karachi: Committed to playing its due role in the fight to control the COVID-19 outbreak, K-Electric has decided to suspend physical meter reading in the interest of the safety of…
SBP and PBA issue Relief Package for households and businesses to cope with impact of COVID-19 Pandemic
Amid growing concerns about the potential economic impact of the COVID – 19 pandemic, State Bank of Pakistan (SBP) with the collaboration of Pakistan Banks Association (PBA), has announced a…