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22,000 big taxpayers, 100,000 rich individuals slip under FBR radar

ISLAMABAD: The Federal Board of Revenue (FBR) has identified over 21,800 big taxpayers and 100,000 rich individuals who have disappeared from the tax net in the past one year. In the tax years 2014 and 2015, the big taxpayers – including 7,720 companies and 14,103 associations of persons (AoPs) – …

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PSX closes above 50,000 for first time; market cap hits record Rs10tr

KARACHI: After failed attempts in the previous two sessions to settle above 50,000 points, the KSE-100 index finally managed to accomplish the feat for the first time on Thursday. The buying frenzy intensified in the last hour, which saw the index surge 435.59 points, or 0.88 per cent, to close …

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Market watch: In a first, index finishes over 49,000

KARACHI: Contrary to expectations of a lacklustre session, Pakistan equities closed the last day of the week positive with the benchmark KSE-100 Index settling at a new record high above 49,000, helped by gains in index names. At close on Friday, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index …

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Bitcoin jumps above $1,000 for first time in three years

Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 per cent climb in 2016. Bitcoin a web based “cryptocurrency” that has no central authority, relying instead on thousands of …

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Music streaming service Patari raises $200,000 in seed investment

Patari announced this Friday that it has secured $200,000 of seed stage funding from Sarmayacar, an investor syndicate. Patari, one of the most notable music streaming services in Pakistan, announced the investment details in a signing event in Lahore. The signing event featured Patari’s team, including its founders and current …

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Patari secures $200,000 in seed funding

A Plan9/X alumni and one of the country’s most celebrated startup, Patari, announced on Friday that it secured $200,000 of seed stage funding from Sarmayacar, an investor syndicate. The announcement was made by Khalid Bajwa, Patari’s CEO, at the signing event in Lahore. “The partnership with Sarmaycar will allow Patari …

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Market watch: Index continues upward trend, settles few points shy of 47,000

KARACHI: Pakistan equities closed higher helped by modest gains in select index names. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a rise of 0.49% or 230.74 points to end at 46,920.47. Elixir Securities, in its report, stated that trading activity remained on the lower …

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Over 2,000 Saudi militants abroad: ministry

More than 2,000 Saudis are fighting abroad with militant groups, with over 70 per cent of them in Syria, the kingdom’s interior ministry was reported as saying on Monday. “The number of Saudis proven to be in conflict areas is 2,093,” interior ministry spokesman General Mansour al Turki told daily …

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Marvel Fan Spent $30,000 On Surgery To Become His Favorite Super-Villain

Marvel Fan Spent $30,000 On Surgery To Become His Favorite Super-Villain You might have heard of 37-year-old Herbert Chavez, the man that had 23 surgeries to look like Clark Kent. If you thought that was off the wall, here’s a story about a man who went under the knife to …

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Ahmed Shahzad fined Rs20,000 for misbehaving with umpire

Renowned Pakistani batsman Ahmed Shahzad has been fined Rs20,000 after he ‘misbehaved’ with an umpire during a match between Sui Northern Gas Pipelines Limited and Habib Bank Limited (HBL). Ahmed Shahzad is skipper of the HBL team. The fine was imposed after Shehzad reacted to the umpire’s decision, after which …

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