FrieslandCampina Engro Pakistan registered a loss in the half year ended June 30, 2019 due to a notable surge in cost of sales and finance cost amid hike in key interest rate, rupee depreciation and higher inflation. The dairy foods marketing firm booked a loss of Rs238.79 million in Jan-Jun 2019 compared to profit of […]

The country’s first-ever local iron-ore steel mill to be established in Chiniot tops the list of four potential projects selected by the government from across the country for investment by Saudi Arabia, it emerged on Sunday. It may be recalled that Pakistan has signed a Memorandum of Understan­ding (MoU) for economic cooperation in mineral resources. […]

The Federal Board of Revenue (FBR) on Thursday unveiled drafts of simplified income tax schemes to address traders and small shopkeepers’ concerns that had compelled them to remain outside the tax net. The FBR notified three schemes including simplified tax regime for traders, fixed tax regime for small shopkeepers and issuance of business licences to […]

KARACHI: Despite sharp increase in the price of panels, inverters, dry batteries etc due to the steep rupee devaluation, the demand for solar power systems remains robust across the country amid higher electricity tariffs. For example, the installation of 5kW and 10kW solar power system [panels, inverter and batteries] now costs Rs500,000 and Rs1 million, […]

ISLAMABAD: Justice Qazi Faez Isa of the Supreme Court, who is facing two references before the Supreme Judicial Council (SJC) over alleged misconduct, has requested Chief Justice of Pakistan Asif Saeed Khosa to order provision of evidence so that he could write his reply to the show-cause notices issued to him. The SC judge has […]

German Development Bank Kfw will provide grant assistance of twelve million Euros for provision of quality healthcare services Phase-II in Khyber Pakhtunkhwa and Gilgit-Baltistan. Secretary Economic Affairs Division Noor Ahmed and Country Director German Development Bank Wolfgang Moeller signed agreement to this effect in Islamabad on Thursday. Minister for Economic Affairs Hammad Azhar also witnessed […]

The automotive business fears that amid declining automobile gross sales, the sector is very likely to get rid of at the very least 10-15 for every cent of the direct jobs around the subsequent several months. Warning of tough instances ahead, they reported mounting auto selling prices on the back of steep currency depreciation, imposition […]

Microsoft Corp agreed on Monday to pay about $25.3 million, including a criminal fine to settle US charges that it made improper payments that were used to bribe government officials in Hungary and other countries. Microsoft is on the hook at home for alleged crimes abroad. The company has agreed to pay about $25 million […]

Iranians feeling the squeeze from United States sanctions targeting the Islamic Republic’s ailing economy are increasingly turning to such digital currencies such as Bitcoin to make money, prompting alarm in and out of the country. The Bitcoin craze has made the front pages of Iranian newspapers and been discussed by some of the country’s top […]

Huawei, a leading Chinese mobile phone company, will invest $100 million in Pakistan this year and set up a regional headquarters in Islamabad at a cost of $55 million, Vice President of Huawei Group Mark Xueman said on Wednesday. Huawei will invest around $100 million in Pakistan during the current year.  In a meeting with […]