ISLAMABAD: The Federal Board of Revenue (FBR) has received nearly 40 per cent more income tax returns for the tax year 2019 compared to the preceding year ahead of the Jan 31 deadline. The board received 2.285 million tax returns until January 29 as against 1.635m returns filed in the tax year 2018. The last date for filing of income …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday proposed amendments in the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Regulations, 2018 to comply with the Financial Action Task Force (FATF) recommendations. The draft amendments provide clarity on verification for beneficial ownership, close associates and family members of politically-exposed persons (PEPs). The proposed amendments elaborate on the …

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday deferred decision on gas price increase for further consultations and waived about Rs195 million port charges to the Turkish firm Karkey as part of a $1.2 billion dispute settlement. The meeting, presided by PM’s Finance Adviser Dr Abdul Hafeez Shaikh discussed the proposal for up to 15 per cent …

Swedish furniture giant Ikea said on Thursday it will close all of its Chinese stores “until further notice”, in response to the spread of the new deadly coronavirus. The company said that it had “temporarily closed all of the 30 stores in mainland China until further notice, effective from January 30”. Ikea announced on Wednesday that it had already closed …

PARIS: The World Indoor Athletics Championships, scheduled for the Chinese city of Nanjing in March, has been postponed until March 2021 as a consequence of the coronavirus epidemic, officials said. “It is with regret that we have agreed with the organisers of the World Athletics Indoor Championships in Nanjing (13-15 March 2020) to postpone the event to March 2021,” the …

MADRID: Chinese football team Wuhan Zall were allowed to enter Spain on Wednesday for a training camp near Malaga, despite fears of spreading the coronavirus. The virus broke out in December in Wuhan in central China and has already killed 132 people and infected 5,974 in the country´s mainland. Yet Wuhan Zall, who play in the Chinese Super League, have …

LONDON: England fast bowler Jofra Archer has been ruled out of the three-match Twenty20 International series against South Africa starting next month with an elbow injury, the England and Wales Cricket Board announced on Wednesday. Sussex quick Archer headed back to Britain on Tuesday in a bid to regain full fitness after a sore right elbow saw him miss the …

MELBOURNE: Roger Federer was fined $3,000 for using an audible obscenity during his Australian Open quarter-final victory over American Tennys Sandgren, tournament organisers said on Wednesday. The Swiss was handed a code violation for swearing in the third set of Tuesday’s match after the lineswoman reported Federer to Serbian chair umpire Marijana Veljovic. Federer clarified in his post-match news conference …

KARACHI: Former Pakistan fast bowler Mohammad Munaf passed away on Tuesday in Amsterdam where he had been living since retirement from PIA. He was 84. A right-arm fast bowler, Munaf was educated at the historic Sindh Medressatul Islam school alongside Little Master Hanif Mohammad who was to later become his team-mate in the Pakistan team. Munaf’s bowling partner was Ikram …

MELBOURNE: Dominic Thiem ended six years of Grand Slam frustration against Rafa Nadal on Wednesday with a seismic 7-6 (7-3), 7-6 (7-4), 4-6, 7-6 (8-6) upset that booked his maiden Australian Open semi-final and rocked the old guard of men’s tennis. After pulling off a nerve-shredding win that quashed doubts about his prowess on hardcourts, the 26-year-old Austrian will face …