Dubai Islamic Bank posts 12 percent growth in profits in Q1 2019
DUBAI, UAE: Dubai Islamic Bank (DIB) has announced a net profit of AED 1.35 billion for the quarter ended March 31, 2019, up 12 percent compared with the profit of…
Twelve Seas Investment signs agreement to Combine with Brooge Petroleum and Gas Investment Company
NEW YORK (Knowledge Bylanes): Twelve Seas Investment Company and Brooge Petroleum and Gas Investment Company, a United Arab Emirates (UAE) company in the oil storage and services business, announced they…
Al Ramz in advanced stage to acquire a UAE domiciled financial institution
DUBAI, UAE: Al Ramz Corporation Investment & Development (Al Ramz) has announced entering an advanced stage of negotiations to acquire an operational financial institution in UAE and is in the…
Emirates NBD Group’s Network International confirms IPO on London Stock Exchange
DUBAI, UAE: Network International (NI), an affiliated associate of Emirates NBD Group, has confirmed its intention to proceed with the Initial Public Offering (IPO) on the London Stock Exchange (LSE),…
Overseas Pakistanis remit $14.3 billion in eight months of FY19
KARACHI: Overseas Pakistani workers remitted US $14350.53 million in the first eight months (July to February) of FY19, showing a growth of 11.82 % compared with US $12833.64 million received…
Dubai Islamic Bank (DIB) partners Dubai Electricity and Water Authority (DEWA) for financing electric vehicles
DUBAI, UAE: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has entered into a partnership with Dubai Electricity and Water Authority (DEWA) to offer exclusive auto finance…
Dubai Islamic Bank (DIB) Board authorized to issue a total of $7.0 billion worth of Sukuk
DUBAI, UAE: The Annual General Meeting (AGM) of Dubai Islamic Bank (DIB) has authorized the Board of Directors (BoD) of the Bank to issue a total of $7.0 billion worth…
PIA starts twice a week flights from Multan to Sharjah
KARACHI: PIA has started twice a week flights from Multan to Sharjah. The inaugural flight PK 293 carrying 166 passengers departed from Multan in the early hours of Wednesday morning.…
Overseas Pakistanis remit $12.77 billion in the first seven months of FY19
KARACHI: Overseas Pakistani workers remitted $12.77 billion in the first seven months of FY19 (July-January 2018-19) as compared with $11.383 billion received during the same period in the preceding year.…
Hamid Mir’s property in Dubai; FBR notice seeking source of investment served and withdrawn
KARACHI: The Federal Board of Revenue (FBR) is undertaking an exercise of identifying and investigating individuals having assets more than their declared income and having assets abroad. In this regard,…
UAE economy to lead GCC in 2019, Saudi set for slowdown
Economic recovery across the Middle East and North Africa is set to slow down in 2019 and growth is likely to be weaker than most expect, but the UAE at…
Mini-budget lacks solutions for fiscal constraints: Moody’s
KARACHI: Pakistan’s recently announced mini budget lacks new solutions to address its fiscal constraints and debt sustainability will largely remain at risk, ratings agency Moody’s Investors Service said on Thursday.…
Overseas Pakistanis remit $9.02 billion
KARACHI: Overseas Pakistani workers remitted $9.028 billion in the first five months (July to November) of FY19, showing a growth of 12.56 percent compared with $8.021 billion received during the…
Ex-Senator Saif-ur-Rehman booked in luxury vehicles import case
KARACHI: Directorate of Customs Intelligence & Investigation Rawalpindi has nominated ex-senator Saif-ur-Rehman and officials of M/s Redco Textiles in the case regarding recovery of non-duty-paid foreign origin luxury vehicles from…
SRB restrained from recovering rupees 4,791,991
KARACHI: An appellate bench of High Court of Sindh (SHC) on Friday restrained Sindh Revenue Board (SRB) from effecting recovery of rupees 4,791, 991 from petitioner Pegasus Consultancy Private Limited.…
Pakistan Customs books PSI companies of UAE, China for fraud
KARACHI: MCC Quetta has booked certain importers and foreign pre-shipment inspection (PSI) companies including M/s Bureau Veritas of UAE and M/s SGS China for defrauding Pakistan’s authorities to enable clearance…
SHC summons Customs, East officer on Jan 31
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Yousuf Ali Sayeed on Wednesday summoned a senior appraiser of Pakistan Customs East in…
Light white oil correctly classifiable under PCT 2710.1250
KARACHI: Chairman Classification Committee Additional Collector Haris Ansari has made a ruling that ‘light white oil Farol 100’ is appropriately classifiable under PCT 2710.1250, keeping in view it is a…
Director General, Customs Valuation, Samaira Nazir disposes of revision petition of VR of Polyester fabric
KARACHI: The Director General, Customs Valuation, Samaira Nazir Khan disposed of revision petitions against Valuation Ruling (VR) 770/2015 November 5, 2015. The revision petitions were filed by A H F…
SHC disposed of petition for want of proof of payment
KARACHI: A division bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Muhammad Junaid Ghaffar on Thursday disposed of a constitution petition filed by…