Home / Business News (page 4)

Business News

Read Latest breaking Business News & updates about latest Business events & issues. Watch Business Videos News Headlines, Special Reports & Packages. Business News

Panama suspends Panama Papers probe

Panama is suspending its probe into the Panama Papers, the leak of a legal firm’s files on clients who stored assets in opaque offshore companies, prosecutors said Tuesday. The records from the Panamanian law firm Mossack Fonseca revealed the names of leaders, politicians, celebrities and wealthy individuals from around the ...

Read More »

Index fails to sustain gains above 50,000 level

KARACHI: The stock market for a brief moment saw the KSE-100 index break the psychological barrier of 50,000 points in trading on Tuesday. The market, however, remained in grip of volatility as nervous investors continued to engage in alternative bouts of buying and selling, which saw the index move between ...

Read More »

SECP warns investors not to get in ‘rat race’

ISLAMABAD: As the stock market breached the 50,000 mark during intraday trade on Tuesday, Chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi warned investors not to enter the ‘rat race’ following the advice of manipulators. Talking to the media at his office, Mr Hijazi said that as regulator, ...

Read More »

Development spending slows down to 32pc of allocation

ISLAMABAD: The federal government’s development programme appears slowing down this year as disbursements to all the federal ministries stood at just 32 per cent of annual allocations in almost seven months against a target of about 50pc. The release of funds to the federal ministries as of Jan 20 (about ...

Read More »

Banks refuse to accept old-design US dollar notes

KARACHI: Millions of dollars stashed away in lockers by Pakistanis face the risk of devaluation as banks have stopped accepting old-design notes. Meanwhile, moneychangers are charging up to a 4 per cent fee to exchange the old-design bills. Pakistanis who do not know the difference between old- and new-design notes ...

Read More »

Govt mulls amnesty scheme to facilitate owners of offshore businesses

The Pakistan Muslim League-Nawaz (PML-N) government has proposed an amnesty scheme to encourage Pakistani citizens with assets and companies abroad to whiten their earnings and siphon profit back to the country, DawnNews reported on Tuesday. Though details of the amnesty scheme are yet to be released, initial reports suggest that ...

Read More »

Pakistan Stock Exchange tests 50,000 barrier in intraday trading

The Pakistan Stock Exchange (PSX) continued its record-breaking upward trajectory on Tuesday, with the KSE-100 index testing the 50,000 barrier in intraday trading for the first time in its history. The index gained 173 points soon after the market opened to touch 50,049 points by 9:34am. However, it later succumbed ...

Read More »

Index up 511 points; KE accounts for 36pc volume

KARACHI: Stocks were on fire for the second straight day on Monday, with the benchmark KSE-100 index recording gains of 511 points, or 1.04 per cent, to close at a new all-time high of 49,876. Although the index was nearing the 50,000 level and foreign selling continued unabated, local investors ...

Read More »

Bank loans grew 144pc in 2016

KARACHI: Banks increased their advances 144 per cent in 2016, a recent report by the State Bank of Pakistan (SBP) showed. Banks remained cautious for more than a decade when it came to extending loans. Their advances to the private sector were limited mainly because the government was the major ...

Read More »

Govt allows export of 300,000 tonnes of urea

ISLAMABAD: The government on Monday allowed the long-awaited export of 300,000 tonnes urea fertiliser without the Rs200 per bag subsidy being extended for sales to local farmers. The decision was taken at a meeting of the Cabinet’s Economic Coordination Committee (ECC) presided over by Finance Minister Ishaq Dar. The move ...

Read More »
Show Buttons
Hide Buttons