KARACHI: The US dollar bounced back within a week to gain its lost position and set a new all-time high record price of Rs175.73 in the inter-bank market on Friday. The open market also witnessed a record dollar price at Rs178. Bankers dealing in the currency market said that the sentiment providing support to rupee on the promised $3 billion …

ISLAMABAD: Finance and Revenue Adviser Shaukat Tarin has launched the formulation of Inland Revenue Code (IRC) in a bid to harmonise all inland taxation laws and maximise facilitation of taxpayers as part of government initiative on simplification of tax laws. It is positively hoped that the IRC will be enforced from July 1, 2022. The proposed reforms are in line …

WARSAW: Turkey on Friday halted airline ticket sales to Iraqi, Syrian and Yemeni citizens wanting to travel to Belarus, which in recent months has become a key launching point for migrants and refugees trying to enter the European Union illegally. The move, announced by Turkeys Civil Aviation Authority, follows EU pressure on airlines to stop bringing people from the Middle …

ISLAMABAD: 500 Glo­bal, a leading international venture capital firm, has expressed interest in making investment in Pakis­tan by providing funds, support and mentorship to the burgeoning tech start-ups. A delegation of 500 Global, led by its Managing Partner Courtney Powell, on Friday held a meeting with the senior management of Special Technology Zones Authority (STZA). The delegation during the visit …

DUBAI: New Zealand will bring Tim Seifert in to replace Devon Conway in Sunday’s final against Australia after the wicketkeeper-batsman broke his right hand with a frustrated punch of his bat following his dismissal against England. Conway, who hit a 38-ball 46 in Wednesday’s semi-final win, was sore and sorry after being ruled out of both the World Cup decider …

HOPES and expectations were at an all-time low when Babar Azam’s Pakistan left for the Twenty20 World Cup in the UAE. Less than two months before the event was due to begin, there were upheavals in the team management as well as the Pakistan Cricket Board. Head coach Misbah-ul-Haq and bowling coach Waqar Younis resigned when it became apparent that Ramiz Raja …

DUBAI: Australia’s Matthew Wade said the team will work better on referrals in the Twenty20 World Cup final after David Warner walked off caught behind without an apparent edge in Thursday’s semi-final win over Pakistan. The Aussies won by five wickets after Wade and Marcus Stoinis put on an unbeaten stand of 81 to chase down their target of 177 …

KARACHI: Stockbrokers have demanded that the chairperson of the Pakistan Stock Exchange (PSX) constitute an inquiry commission to look into the premature rollout of the new trading system by the exchange management that caused a “grave financial loss” to investors in the last week of October. In a letter to PSX Chairperson Dr Shamshad Akhtar, the Pakistan Stockbrokers Association said …

KARACHI: The benchmark index of the Pakistan Stock Exchange took a beating on Friday on account of a falling rupee as well as the announcement of a lower-than-expected weight for Pakistan in the MSCI Fron­tier Market Large Cap Index. According to Topline Securities, Pakistan’s weight in the MSCI Frontier Market Index will be 1.25 per cent as opposed to the …

ISLAMABAD: The federal government on Friday reversed its earlier decision and asked the Pakistan Bureau of Statistics (PBS) to continue releasing weekly statistics on inflation, a senior official in the Planning Division told Dawn. In the wake of this decision, the PBS released its weekly data on essential food items on Friday which shows that inflation measured through sensitive price index …