Business

KARACHI: A day after news reports appeared about a new SRO issued by the government regarding rules about access to foreign currency accounts, the State Bank of Pakistan said in a circular that nothing has changed. “There has been no change in the general or special permissions given by the State Bank to individuals under the foreign exchange regulations,” said the circular …

ISLAMABAD: As opposition parties gear up to launch their anti-government campaign from the Pakistan Democratic Movement (PDM) platform with price hike as one of its key agenda items, Prime Minister Imran Khan on Saturday vowed to use all available resources of the state to bring down food prices in the country. Admitting that there is a price-hike in the country, the prime …

Over the last decade, the meaning of brand maintenance has drastically changed. Where it was once about making sure your organisation isn’t coming off in a bad light on print or even TV, most of the conversations in this age revolve around social media, which can be really hard to track down. That’s exactly what a Pakistani startup hopes to …

OIL majors are on a job cutting spree. When seen through the prism of the cuts announced in recent weeks, the overall crude scenario appears bleak and gloomy. IHS Markit has reported a capital spending drop of 50 per cent by several US oil and gas companies this year, while internationally the drop has been around 30pc. This has contributed …

KARACHI: The government has banned individuals from depositing foreign exchange into bank accounts if the forex has been purchased from the open market. It was unclear till the filing of the report, however, whether the new rules issued by the government have significantly changed anything already contained in the State Bank’s Foreign Exchange Manual (FEM). Chapter 6 of the FEM …

KARACHI: Bulls staged a comeback at the stock market in the outgoing week to carry the KSE-100 index up by 727 points (1.8 per cent) to close at 40,798. Bears were driven away after a three-week rampage that saw the index bleed by 2,459 points or 5pc. The market commenced the outgoing week on a dismal note shedding 1,000 points, …

ISLAMABAD: Months after severe country-wide oil shortages, the country’s oil refineries are raising red flags over lower uplifting of their refined products by oil marketing companies (OMCs), resulting in curtailment of capacity utilisation and crude production from oilfields. A senior government official said the OMCs had scaled down their upliftment of petroleum products following government’s decision to shift oil pricing …

KARACHI: For the fourth successive day, the stock market remained in control of the bulls who tossed the KSE-100 index up by 444.81 points (1.10 per cent) on Friday to settle at 40,798.43. The market remained in search of direction in the early hours of the day which saw it hovering between the red and green. But before close of …

n ISLAMABAD: Pakistan Customs on Friday said it will put in place a National Targeting Centre (NTC) to identify and profile risky goods and individuals to improve enforcement as part of the coordinated border management. As part of the proposed reforms, a NTC central control room will be established with support from regional centres. Official document shows the automated module …

KARACHI: Federal Energy Minister Omar Ayub Khan has said that necessary arrangements have been made to provide gas without any outages to industries during the next five months. Addressing office-bearers of the Council of All Pakistan Textile Association (CAPTA) at the Pakistan Hosiery Manufacturers Association (PHMA) House on Friday, the minister said any shortfalls during winter due to high demand …