KARACHI: Pakistan State Oil Company Ltd on Tuesday declared a profit-after-tax (PAT) of Rs29.14 billion translating into earnings per share of (EPS) Rs62.07 for the year ended June 30, 2021. It represented a turnaround from the loss of Rs6.47bn (LPS: Rs13.77) suffered the earlier year. The company also ann­ounced a cash dividend at Rs10 per share. Engro incomes surges 88pc …

ISLAMABAD: A parliamentary panel on Tuesday asked the government to offer at least one-year tax amnesty to people earning less than Rs1.2 million per year to fight adverse economic effects of Covid-19 and inflation, and advised the central bank to do away with inter-bank fund transfer (IBFT) charges by banks to encourage digitisation. The Senate Standing Committee on Finance and …

ISLAMABAD: In yet another major reshuffle in its economic team, Pakistan Tehreek-i-Insaf government on Tuesday removed the chairman of the Federal Board of Revenue (FBR) while the special assistant to the prime minister (SAPM) on finance and revenue said he had resigned. Informed sources said FBR chairman Asim Ahmad, who was fifth in the row in almost three years, was …

ISLAMABAD: The GSMA, which represents the interests of 750 mobile operators worldwide, has projected that Pakistan will be at the lowest end in terms of smartphone users as well the 5G coverage among the selected countries of Asia Pacific region by 2025. However, Minister for Information Technology and Telecommunication Syed Amin Ul Haque said key initiatives have been taken which …

KARACHI: The dollar reached a 10-month high of Rs165.20 against the rupee on Tuesday as the country’s foreign exchange reserves reached a historic level of $27.4 billion due to the inflow of $2.75bn through Special Drawing Rights (SDR) of the International Monetary Fund (IMF). The dollar crossed Rs165 for the first time since Sept 30, 2020. The dollar gained 77 …

PORT MORESBY: Papua New Guinea banned flights from India indefinitely on Tuesday and accused the country’s diplomats of “deception” over apparent breaches to Covid-19 travel rules. The Melanesian nation’s top Covid-19 official said that in an act of “deliberate deception” India’s High Commission helped dozens of unauthorised travellers — some Covid-positive — to arrive in Papua New Guinea (PNG). A …

NABLUS: Israeli fire killed a 15-year-old Palestinian in the occupied West Bank on Tuesday when clashes erupted after Israeli forces searching for a suspect stormed a refugee camp near Nablus. The Palestinian health ministry said Imad Khaled Saleh Hashash died after sustaining a gunshot wound to the head in the Balata refugee camp. The Israeli army said it had conducted …

SEOUL/DUBAI: People infected with the more transmissible Delta variant have a viral load 300 times higher than those with the original version of the Covid-19 virus, when symptoms are first observed, a South Korea study found. But the amount gradually decreased over time — to 30 times in four days and over 10 times in nine days — and it …

MOSCOW: Russia, China, the United States and Pakistan are interested in serving as mediators in resolving the crisis in Afghanistan, Russian Foreign Minister Sergey Lavrov said on Tuesday. “We remain committed to the task of establishing peace and stability on Afghanistan’s territory so that it poses no threats to the region,” Mr Lavrov said. He also said Russia opposed the …

Saudi Arabia has eased Covid-19 restrictions for fully vaccinated residents, allowing them to directly travel to the Kingdom from countries facing a travel ban, including Pakistan. According to a report by the Saudi Gazette, it is only applicable for those who have a valid residency permit (Iqama) and left the Kingdom on an exit and re-entry visa after taking two doses …