Business

The shares buyback regulations grabbed the spotlight in the May 17 meeting with adviser on finance Dr Abdul Hafeez Shaikh where the desperate stockbrokers — who have watched market meltdown by 20,000 points, or 36pc, since May 2017 — forwarded several proposals to put a floor under the market fall. Though most of those were drowned under the clamour of …

Singapore has emerged as the largest source of foreign direct investment (FDI) into India, underlining growing business links between the two countries. According to latest figures from the Indian Department for Promotion of Industry and Internal Trade, the country received the greatest share of FDI inflows from Singapore, valued at $16.23 billion (S$22.1bn), in the last Indian financial year, which …

ISLAMABAD: Amid tight fiscal and contractionary monetary policies, the government is targeting slight improvements in savings and investments, coupled with better performance by agriculture and industry to achieve an economic growth rate of four per cent during the next fiscal year, compared to a dismal growth of 3.3pc during the current fiscal year. According to budget documents, the government is …

ISLAMABAD: The government plans to present an austerity-oriented budget providing a ‘slight’ relief to middle and low grade government employees, including military personnel, with no increase in the salaries of army officials of higher ranks. This was said by Special Assistant to the Prime Minister (SAPM) on Information Dr Firdous Ashiq Awan at a joint news conference with SAPM on …

KARACHI: Business leaders in the port city are resigned to a budget that they insist is being written under International Monetary Fund (IMF) dictation. Their entreaties have found few takers in Islamabad and now await the announcement with an air of quiet resignation and wistful dread. A number of business leaders talking to Dawn were unanimous in their opinion that …

KARACHI: The single session trade in the outgoing week saw investors dump stocks on Monday with the KSE-100 Index recording a fall of 469 points (1.3pc) and close at 35,505. There were many disenchantments a day before the Eid holidays that caused investors to trim their positions, but the worries centered on two key issues that are likely to set …

Last year, while going through copies of numerous Pakistani Urdu dailies archived in Washington DC’s massive Library of Congress for research purposes, I came across a rather amusing news report on page 2 of an Urdu daily. I believe daily Sarhad was the name of the newspaper, but I can’t quite remember for sure. Nevertheless, what I do remember is …

ISLAMABAD: The government is mulling to launch easy schemes in the upcoming budget for bringing in new taxpayers, Dawn has learnt from knowledgeable sources. The new schemes will be fined-tuned in the next couple of days before being presented in the cabinet meeting for approval. As part of the proposed schemes, it has been decided to register all those people …

LAHORE: The ongoing ‘consultations’ between the government and the textile industry over a key budget proposal withdrawing sales tax exemption enjoyed by exporters under the zero-rated regime broke down on Saturday primarily because of the tax authorities’ failure to produce an efficient, credible seamless mechanism for quick reimbursement of export refund claims. The opinion of textile industry leaders representing different …

The rupee shed its value in the money market due to an increase in the demand for the US dollar ahead of Eidul Fitr holidays. The value of the greenback increased by Re0.75 in the interbank market and the dollar was traded at Rs148.90. Similarly, the value of the dollar in the open market climbed by Re0.30 to Rs148.80 According …