Business

ISLAMABAD: Traders have postponed a countrywide strike announced for Sept 27 (today) after the Federal Board of Revenue (FBR) gave an undertaking that small traders would not be deprived of electricity and gas supply and mobile phone services on the application of new tax laws introduced through a recent presidential ordinance. The decision was announced at a news conference here …

Oraan, a Karachi-based gender-inclusive fintech, has raised $3 million in the largest seed funding closed by a local women-led startup, according to a press statement issued by the company. The statement said the investment was co-led by Zayn Capital and Wavemaker Partners, with participation from Resolution Ventures, i2i Ventures, Hustle Fund, Haitou Global, Plug and Play, and angels like Claire …

KARACHI: Pakistan State Oil (PSO) Managing Director Syed Taha has said he’s actively trying to bring the focus of the company’s sales efforts back to the retail segment. In a recent interview with Dawn, Mr Taha said the company’s focus had previously drifted from the retail business that he described as the “bread and butter” of the country’s largest corporate …

KARACHI: The outgoing week turned out to be the second worst week in 2021 as the KSE-100 index fell by aggregate 1,563 points, or 3.4 per cent, in five-day losing streak to close at 45,074 points. The daily trading took place in a strikingly similar pattern: the index making it to intraday high in early trade and giving up all …

KARACHI: As locally assembled cars have gone beyond the reach of many people, the option of buying used cars has also become a challenging task following a massive increase in their prices over the last three years. The persistent rise in the prices of new cars has forced a number of consumers towards used automobiles as they cannot purchase costly …

KARACHI: Calling it a “game-changer”, the federal government on Satur­day unveiled an ambitious plan to rebuild Karachi’s coastline under the China-Pakistan Economic Corri­dor (CPEC) with $3.5 billion “direct Chinese investment” that aims to overhaul city’s seaboard with new berths for the port, a new fishery port and a ‘majestic harbour bridge’ connecting it with Manora islands and Sandspit beach. The Karachi …

Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates and Oman, Adviser to the Prime Minister on Commerce Abdul Razak Dawood said on Sunday, as talks with the Gulf Cooperation Council (GCC) remain stalled. The GCC, which includes those three countries plus Qatar, Kuwait and Bahrain, started free trade talks with Pakistan in 2004. It has not …

ISLAMABAD: Finance Min­is­ter Shaukat Tarin on Friday said the Pakistan Single Window (PSW) will not only reduce time, cost and complications while contributing significantly towards ease of doing business, it will also enable the country to unlock its potential in becoming a hub for regional as well as international trade and transit. Chairing the first meeting of the PSW’s Governing …

PARIS: The Paris Club of creditor countries said on Friday it was giving Pakistan another extension to service its debt so that it can dedicate its resources to combating the Covid-19 pandemic. The country has until December to make the payment, the club said in a statement, without releasing a figure. Islamabad “is committed to devote the resources freed by …

KARACHI: The National Electric Power Regulatory Authority (Nepra) has provisionally allowed Kot Addu Power Company (Kapco) to keep producing and supplying electricity to the national grid until the regulator arrives at a final decision whether to renew the company’s power generation licence. In a regulatory filing with the national bourse on Friday, Kapco said its licence renewal application is being …