Business

KARACHI: Bullish fire continued to leap over the stock market in the outgoing week where the KSE-100 index gained 1,220 points. Together with the earlier week’s surge by 1,018 points, the benchmark index managed to show spectacular rise of 2,238 points or five per cent in first two weeks of 2021. The index crossed the 45,000 barrier and closed at …

ISLAMABAD: As consu­mers continue to suffer from high prices of various commodities, a stalemate persi­sts between sugar mills, far­mers and government auth­o­rities on the value of sugarcane. The middlemen, on the other hand, were earning significant profits due to the new law that required payments through bank accounts only. Minister for Industries and Production Hammad Azhar on Saturday acknowledged that …

ISLAMABAD: The government has evolved a comprehensive package for textile and apparel value chain to promote local production and exports from the country. The package will be announced as part of textile policy for specific sectors — cotton, manmade fibres, natural fibres, ginning, spinning, knitting, weaving and processing, apparel and made-ups/home textiles, carpets, and handicrafts. Official documents seen by showed …

HOUSTON, Texas (KTRK) — As the city of Houston deals with the COVID-19 crisis, one of Houston’s sports monuments became a vaccination site on Saturday, and new appointment availabilities filled up in minutes. All 1,000 new appointments at Minute Maid Park were filled shortly after they were added by the Houston Health Department for people who meet Phase 1A or Phase …

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Javed Ghani has constituted a committee for timely designing, finalisation and simplification of income tax return forms for individuals, association of persons and companies for the tax year 2021. The decision to simplify the income tax return came six months before the filing of the tax return. Normally, the changes in the return …

ISLAMABAD: The government has decided to remove moratorium on new gas connections for industrial and captive consumers in Balochistan after a gap of almost a decade. For ensuring implementation of the decision, the Cabinet Committee on Energy (CCoE) has constituted a five-member committee to first approve a criterion for fresh connections. The Petroleum Division had reported to the CCOE that …

KARACHI: Stocks continued to climb on Friday powered by the banking sector. The KSE-100 index added 309.80 points, or 0.68 per cent, to close the week at 45,654. The market opened in the green and as the much undervalued banking sector’s shares garnered investor interest, the index touched intra-day high by 572 points. Improvement in leading macro indicators such as …

WASHINGTON: Pakis­tan’s exports to the United States have registered an increase of 10.9 per cent during the July-November 2020 period, shows the official US data released on Friday. The data, released by the US Commerce Department, also showed that Pakistan’s exports to the United States increased from $1653.2 million in the same period in 2019 to $1832.6m in 2020. In …

ISLAMABAD: Prime Minister Imran Khan on Thursday received briefings from the chief secretaries of Khyber Pakhtunkhwa and Sindh and the chairman of the Capital Development Authority (CDA) on various urban development projects. According to an official announcement by the PM Office, Mr Khan expressed the hope that the provincial governments would take maximum advantage of the concessions announced by the …

KARACHI: Prime Minister Imran Khan is expected to launch the completion of the first phase of Pakistan’s Instant Payments System project soon, said the State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Thursday while steering the third nation-wide stakeholders’ meeting on Digital Financial Services. The meetings, organised by the SBP aim to accelerate the agenda on promoting digital …