Business

KARACHI: Stocks went into a tailspin by mid-day on the first trading day of the week, which saw it hit the intraday low of 772 points with red splashed across the sectors. The panic subsided in about the last trading hour as investors in the lead of insurance companies scooped to pick up blue-chips that had dropped to attractive levels. …

ISLAMABAD: Highlighting certain risks to fiscal sustainability, the federal government has reported its half-year (July-December) fiscal deficit at 3.1 per cent of GDP, or the highest-ever figure of Rs1.393 trillion in absolute terms. In its mid-year Budget Review Report submitted to the parliament as required under the Public Finance Act, 2019, the Ministry of Finance on Monday claimed credit for …

Yes, it is possible to have too much of a good thing, and that’s exactly why stock markets around the world are getting so unsettled. Optimism for an economic revival is surging following a year of coronavirus-induced misery. But expectations for stronger growth plus the higher inflation that could accompany it are pushing interest rates higher, which is forcing investors …

Corporate Pakistan is gearing up for the post-pandemic world as the new cases decelerate and the vaccination drive continues to roll out at pace. Sentiments are rising steadily in business circles as the output and revenues surpassed pre-pandemic levels for a significant number of companies. Some high-profile leaders reached for comments on the economy’s trajectory expressed cautious optimism. Economic activity …

Pakistan’s merchandise trade deficit in January swelled to $2.67 billion, showing a whopping 24.4 per cent increase over January 2020. According to the Pakistan Bureau of Statistics (PBS), the cumulative trade deficit in the first seven months of this fiscal year totalled $15bn — or 8.7pc higher than the deficit in the year-ago period. Fortunately, home remittances in these seven …

If there’s one thing that symbolises the banking sector in Pakistan, it’s mediocrity. They are slow, painful, rent-seeking and, most importantly, minnows. Sure, not so much if we look at the stock exchange, but definitely if financial inclusion is the metric — as it rightly should be. Nonetheless, the past few years have seen almost all banks in the country …

LAHORE: After a gap of nine years or so, the Istanbul-Islamabad freight train is likely to resume operations on March 4, connecting goods train business of three countries —Turkey, Iran and Pakistan. “We have been informed by the quarters concerned that the container train would start its journey from Istanbul (Turkey) for Islamabad (Pakistan) via Zahidan on March 4. Though …

KARACHI: The country’s biggest city enjoying an edge due to twin ports, Karachi has emerged as the most sought-after metropolis in terms of land prices for businesses despite deteriorating infrastructure in various industrial areas. High industrial land rates in Karachi are a cause of concern for many small- to medium-sized investors. Over the years, some industrialists from Karachi have either …

ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that a lower rate of Rs1,000 will be charged from individuals (salaried and non-salaried) on late filing of income tax returns for the tax year 2020 for inclusion in the Active Taxpayers’ List (ATL). The FBR’s spokesperson has clarified that surcharge for inclusion in ATL for late filing individuals is Rs1,000 …

KARACHI: Stocks were under pressure in the outgoing week with the KSE-100 index losing 363 points, or 0.8 per cent, and close at 45,867 points. Equities closed in the red in four of the five trading sessions. The big worry on the investors’ mind was the possible outcome of the FATF plenary meeting which took place between Feb 22 to …