APTMA seeks policy for revival of industry

APTMA seeks policy for revival of industry

LAHORE: All Pakistan Textile Mills Association (Aptma) Chairman Aamir Fayyaz has urged the government to announce and lay down the implementation mechanism for the agreed long-term policy for the revival and growth of the textile industry. “An early announcement of the policy will help reverse trade account deficit and thereby contribute...

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FBR drags its feet on key reforms

FBR drags its feet on key reforms

ISLAMABAD: The Federal Board of Revenue (FBR) is back-pedalling on reform measures which were originally designed to block all loopholes in the tax administration system leading to revenue losses. The reform measures were evolved as part of the Tax Reforms Commission’s recommendations and were tasked to the Tax Implementation Reform...

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What a weak dollar means in 2018: staycations and local shopping

What a weak dollar means in 2018: staycations and local shopping

US consumers may soon begin to feel some pain from the dollar’s downturn, although the recent slide in the world’s main reserve currency isn’t bad news for everyone in America. The greenback has dropped 8 per cent in 2017 and is on track for its first annual decline in five...

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SBP move likely to cause dollar shortage in open market

SBP move likely to cause dollar shortage in open market

KARACHI: The State Bank of Pakistan (SBP) has decided to cut the import requirement of cash dollars to 35 per cent against the export of foreign currencies, creating fears about a shortage of the greenback in the open market. The central bank issued a circular on Monday that asked exchange...

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Power consumers to get real-time billing, supply info via mobile app

Power consumers to get real-time billing, supply info via mobile app

ISLAMABAD: With a continuously shrinking demand-supply gap, the government launched on Tuesday a mobile phone application to let consumers know real-time electricity billing and supply situation of any public-sector distribution company (Disco). Speaking at the launch of Roshan Pakistan, an Android-based mobile app, Minister for Power Awais Ahmad Khan Leghari...

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Saudi Arabia, Egypt outperform in weak region

Saudi Arabia, Egypt outperform in weak region

DUBAI: Saudi Arabia’s stock market rose in a mostly weak Gulf region on Tuesday after data showed deflationary pressure on the economy easing, while Egypt also gained but trading volume remained very low because of the end-of-year holiday period. The Saudi index rose 0.4 per cent as real estate developer...

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‘Foreign loans compromise sovereignty,’ says Rabbani

‘Foreign loans compromise sovereignty,’ says Rabbani

KARACHI: Senate Chairman Mian Raza Rabbani said on Tuesday foreign loans come with strings as lenders’ conditions infringe upon national sovereignty. If a nation has a choice, then it should opt for increasing exports by promoting the indigenous industry and making it competitive, he said while addressing the 41st Export...

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Farmers issues to be resolved on priority basis

Farmers issues to be resolved on priority basis

RAJANPUR: Issues of farmers are being resolved on a priority basis by the Punjab government, said Provincial Agriculture Minister Muhammad Naeem Khan Bhabha on Tuesday. Presiding over a meeting regarding issues of sugarcane farmers, he said that the Punjab chief minister had assigned him the task of monitoring the sale process...

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SECP seeks to lure back brokers amidst thin volumes

SECP seeks to lure back brokers amidst thin volumes

ISLAMABAD: In a bid to woo stock market players, the Securities and Exchange Commission of Pakistan (SECP) has started undoing some of the stern actions taken by its former management. In addition, it has also accepted certain longstanding demands of the stockbrokers. Last week, the SECP amended Demutualisation Act 2012...

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Gas supplies jump as critical project finally starts

Gas supplies jump as critical project finally starts

ISLAMABAD: Officials at the Prime Minister Office (PMO) had another reason to celebrate on Monday as a critical project for the import of natural gas finally began operations after a long period of delays and technical difficulties. Pakistan started receiving about 1200 million cubic feet per day (mmcfd) of imported...

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Low rates hurting banks: BoJ

Low rates hurting banks: BoJ

TOKYO: Prolonged ultra-easy monetary policy is weighing heavily on Japanese bank profits but financial institutions should not expect business conditions to brighten dramatically even after the central bank raises interest rates, a senior Bank of Japan official said. Many regional banks could suffer losses in the long run as intensifying...

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‘Crypto FX should only be traded by professionals’

‘Crypto FX should only be traded by professionals’

MOSCOW: Russian Finance Minister Anton Siluanov said on Monday that cryptocurrencies should be traded only by professional investors, not in the mainstream. “Professional market participants should work with crypto-currencies, not ordinary people,” Siluanov said in an interview with Rossiya 24, a Russian state TV channel. Russian authorities agreed in October...

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Rupee’s fall drives food prices higher

Rupee’s fall drives food prices higher

PRICES of food items have started rising in the wake of a recent fall in the rupee’s value, though the price hike has somewhat remained subdued as the depreciation is not accompanied by supply constraints. However, a sharper rise has been noticed in prices of imported food items. From tea,...

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SME policy promises Rs6bn for renewable energy projects

SME policy promises Rs6bn for renewable energy projects

KARACHI: Under the recently launched policy for the promotion of financing for small and medium enterprises (SMEs), Rs6 billion will be available at a subsidised rate of six per cent for renewable energy projects of up to 50 megawatts in hydro, solar, wind and biogas categories. According to the document...

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Japan Display says report it sought Apple, Huawei funds is ‘speculative’

Japan Display says report it sought Apple, Huawei funds is ‘speculative’

TOKYO (Reuters) – Cash-strapped smartphone screen maker Japan Display Inc (6740.T) dismissed a report on Thursday that it was seeking investment from Apple Inc (AAPL.O) and Huawei Technologies Co Ltd as “speculative” and declined to comment further. Japanese news agency Kyodo, which reported on Wednesday that Japan Display was...

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Kobe Steel says senior executives knew about data tampering

Kobe Steel says senior executives knew about data tampering

TOKYO  – Kobe Steel Ltd, at the center of a data-falsification scandal that has shaken Japan’s manufacturing industry, admitted for the first time that executives were aware of the cheating, and reassigned three senior officials.  Japan’s No.3 steelmaker, which supplies the manufacturers of cars, planes and trains across the world,...

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Catalan vote tests Europe

Catalan vote tests Europe

LONDON  – World markets offered a muted reception on Thursday to the passage of U.S. tax cuts as potential benefits to company bottom lines were already priced in, while bonds were spooked by the blowout in government debt needed to fund the giveaways. An election in Catalonia, which has become...

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Market watch: KSE-100 falls another 465 points

Market watch: KSE-100 falls another 465 points

KARACHI: The stock market extended its fall on Tuesday as the benchmark index tumbled almost 600 points in intra-day trading before recouping some of the losses. It still closed the day below 38,000 points. The market resumed its downward journey from the very moment the trading began. Although activity picked up...

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FBR deadline to file income tax today

FBR deadline to file income tax today

ISLAMABAD: The deadline set by the Federal Board of Revenue (FBR) will expire today (December 15). The deadline was extended on November 30 for filing the returns of 2016-17. All those whose annual salary from July 1, 2016 to June 30, 2017 is above Rs.400,000 are required to file their...

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Bitcoin: “It’s for people with nerves of steel”

Bitcoin: “It’s for people with nerves of steel”

What happens with the bitcoin digital currency? Oliver Flaskämper, founder of the commercial platform Bitcoin.de, says in an interview  about the current demand for this currency. Q: Everyone talks about bitcoin currencies. Is it worth getting into the business? Oliver Flaskämper: Although I am a bitcoin fan, I have not recommended it...

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Chinese drive a hard deal with Pakistan in CPEC

Chinese drive a hard deal with Pakistan in CPEC

ISLAMABAD: Pakistan appea­red to have been pushed hard by the Chinese side to give in more than it secured in kind amid the as of late held seventh joint participation board of trustees (JCC) meeting of the China-Pakistan Economic Corridor (CPEC).   This is apparent from the minutes of the...

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Digital currency exchange NiceHash says bitcoin worth nearly $64 million hacked

Digital currency exchange NiceHash says bitcoin worth nearly $64 million hacked

Cryptocurrency marketplace NiceHash said the contents of its bitcoin wallet had been stolen in a security breach and one executive said nearly $64 million had been lost.  NiceHash head of marketing Andrej P. Škraba told Reuters on Thursday that the hack was “a highly professional attack with sophisticated social engineering”...

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‘World economy growing faster than in years, but not for long’

‘World economy growing faster than in years, but not for long’

PARIS: The world economy is growing faster than it has in seven years and an ever increasing number of individuals are working yet the high development isn’t relied upon to keep going long, and wages remain unyieldingly stale. That is as indicated by estimates on Tuesday from the Organization for...

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Pakistan seeks larger representation at SABF

Pakistan seeks larger representation at SABF

KARACHI: Pakistan will request a bigger portrayal in the following South Asia Business Discussion (SABF) gathering, which is composed by the China Committee for Advancement of Global Exchange each year in Kunming. Organization of Pakistan Assemblies of Business and Industry (FPCCI) Bad habit Presi­dent Saqib Fayyaz Magoon is relied upon...

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Pakistan refused demand utilization of chinses currency

Pakistan refused demand utilization of chinses currency

Pakistan has rejected china’s request to enable its currency to be utilized in Gwadar under the China-Pakistan Economic Corridor framework contending any such move would trade off its monetary sway.   Pakistan passed on its last position on the utilization of the foreign money in its domain to the Chinese...

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6 indicators in which the United States is at the level of the underdeveloped countries

6 indicators in which the United States is at the level of the underdeveloped countries

“We are becoming a third world country,” was the warning issued by Donald Trump on June 16, 2015, when he announced his candidacy for the presidency of the United States. The claim, which Trump repeated on other occasions during the almost year and a half of the election campaign, was...

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Why are hidden messages appearing inside Zara garments in Turkey

Why are hidden messages appearing inside Zara garments in Turkey

“I made this garment that you are going to buy but they did not pay me for it!” That is the curious message that shoppers find in Zara stores in Istanbul, Turkey, on labels that accompany garments, hidden in the crease of some pants or in the pocket of a...

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Inflation in Pakistan is likely to increase by 6pc next year: World Bank

Inflation in Pakistan is likely to increase by 6pc next year: World Bank

KARACHI: The World Bank (WB) on Thursday raised alarms for Pakistan’s economy and predicted that inflation would increase to six per cent next year as it linked Pakistan’s bullish economic prospects with the continuation of reforms to address the current and fiscal account deficits. “Despite an increase in macroeconomic imbalances during...

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Volkswagen’s welcomed in Pakistan by PM Abbasi

Volkswagen’s welcomed in Pakistan by PM Abbasi

The Prime Minister of Pakistan, Shahid Khaqan Abbasi, amidst all the political mayhem, has given the nation a good news. The German automobile giant, Volkswagen has decided to invest and undertake business ventures in Pakistan, assuring the world’s largest automaker of complete facilitation and support from Pakistani government. While meeting the Board...

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Special Rs50 coins to commemorate the life of Pfau

Special Rs50 coins to commemorate the life of Pfau

The federal cabinet has approved a proposal to issue 50,000 pieces of commemorative 50-rupee coins in honour of the late humanitarian Dr Ruth Pfau. The decision was taken during Wednesday’s cabinet meeting that was chaired by Prime Minister Shahid Khaqan Abbasi. A PM office press release said that the federal cabinet...

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“Paradise Papers”: Indian-style tax evasion

“Paradise Papers”: Indian-style tax evasion

The so-called “Paradise Papers” revealed once again how the rich and powerful hide their money. Hundreds of Indians saved their taxes. Murali Krishnan reports from New Delhi. 714 Indians are on the “Paradise Papers” list. India is the nineteenth country among 180 with the most number of individuals mentioned. Not only are there businessmen,...

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Bitcoin Baby Steps – A Guide to help you enter Bitcoin World

Bitcoin Baby Steps – A Guide to help you enter Bitcoin World

Welcome to the world of bitcoin! Lately there are enough people who ask me for bitcoin. Two years ago I was taken as a joke by most of the people I know and most of the negative comments I received came from ignorance. Today I notice that there is a more mature...

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Paradise Papers: the tax havens of the ultra-rich uncovered

Paradise Papers: the tax havens of the ultra-rich uncovered

An immense new leak of financial documents has revealed how the ultra-rich, including the private patrimony of Queen Elizabeth II, secretly invest vast amounts of money in offshore financial centers, the so-called “tax havens”. The secretary of commerce of Donald Trump appears as a shareholder of a firm that does...

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How the world woke up poorer and why it’s not just a matter of statistics

How the world woke up poorer and why it’s not just a matter of statistics

It seems a pretty easy question: how many people in the world live in poverty? In practice it is not. Until a few days ago, the standard measure for defining absolute poverty was that of the World Bank: living with less than the equivalent of US $ 1.90 per day....

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Bitcoin blasts to new all-time high of $6,450

Bitcoin blasts to new all-time high of $6,450

Bitcoin climbed to a new all-time high of $6,450 on Wednesday, boosted by bets the cryptocurrency could enter the financial mainstream after the world’s largest derivatives exchange operator said on Tuesday it would launch bitcoin futures. CME Group said it would provide a regulated trading venue for the cryptocurrency market...

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Petrol prices increased all across Pakistan by Rs. 2.50

Petrol prices increased all across Pakistan by Rs. 2.50

ISLAMABAD: The government on Tuesday increased prices of all petroleum products by up to 11 per cent with immediate effect for the month of November. The increase was approved by Prime Minister Shahid Khaqan Abbasi who also put an end to the role of the ministry of finance in petroleum...

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Rupee is stable against dollar

Rupee is stable against dollar

Commencing the week on a stable note in the early sessions, the rupee witnessed some corrections against the dollar in the week’s closing sessions. However, it remained largely range-bound on the interbank market due to sluggish dollar demand. On the interbank market, the rupee last week mostly traded range-bound against...

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Uncertainty has wiped $18.5b off Pakistan’s stock market

Uncertainty has wiped $18.5b off Pakistan’s stock market

KARACHI: Not too long ago, the government sold a 40% stake in the Pakistan Stock Exchange (PSX) to the Chinese at Rs28 per share. Since then, as of Thursday, the Chinese consortium had seen its investment shed close to 30% of the total value of $86 million. Additionally, close to $18.5...

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Pakistan International Trade Fair starts today in Karachi after 25 years

Pakistan International Trade Fair starts today in Karachi after 25 years

After a gap of 25 years, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is organizing an international-level trade fair in the country in an attempt to boost exports and economic growth. The Pakistan International Trade Fair (PITF) starts today October 26 till 29. The 4 day event will...

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Pakistan Stock Exchange facing technical glitch – Trading suspended

Pakistan Stock Exchange facing technical glitch – Trading suspended

Trading at the Pakistan Stock Exchange (PSX) was suspended early on Thursday due to a technical fault, a notification on the PSX websiteinformed. Bullish trend was observed on the exchange with the benchmark KSE-100 index gaining 273 points before the market was closed because of a technical fault in the trading...

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Amidst pressure from USA and Saudia, Iran wants Pakistan to revive the gas line project

Amidst pressure from USA and Saudia, Iran wants Pakistan to revive the gas line project

ISLAMABAD: Iran has written a letter to Pakistan in a fresh bid to push ahead with the long stalled gas pipeline project following persistent pressure from Saudi Arabia and unilateral sanctions imposed by the United States. “The Iranian government has written a letter, seeking to hold talks on issues that have caused...

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Five Charts of Economic Growth that matter: Expert Advice

Five Charts of Economic Growth that matter: Expert Advice

This article was originally posted at BBC – Economics   Most economists predict the Office for National Statistics will announce on Wednesday that the UK economy expanded by about 0.3% in the third quarter of the year. Such a modest figure will do little to change our relatively lowly position...

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Withholding taxes should meet the target: FBR

Withholding taxes should meet the target: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) was able to collect just 7.6% of its total revenue on account of direct taxes while the rest was generated by imposing indirect and withholding taxes, exposing shallowness of the country’s tax system. The startling figures speak volumes about the inefficiency of the FBR...

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Nauman Dar’s retirement leads to changes in HBL

Nauman Dar’s retirement leads to changes in HBL

KARACHI:  Habib Bank Limited (HBL) will undergo major reshuffling at the top managerial level after it was announced that CEO and president, Nauman K Dar, will retire with effect from December 31, 2017. According to a notice sent to the Pakistan Stock Exchange (PSX), HBL said that its Chief Operating...

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The Alone Warrior – A Tribute To Legend Misbah-Ul-Haq

The Alone Warrior – A Tribute To Legend Misbah-Ul-Haq

Pakistan veteran Misbah-ul-Haq has dismissed suggestions he is ready to retire, with the 42-year-old confirming he will captain the tourists in the third Test against Australia.

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Worst Ever Fight In Sahir Lodhi Show

Worst Ever Fight In Sahir Lodhi Show

Serious fight between a boy and girl during Sahir Lodhi’s live Show.

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Making Of  Sausages

Making Of Sausages

It’s the eternal question, how truly is the sausage made? The team heads to Brooklyn’s the meat hook, a butcher shop in the Williamsburg neighborhood, for a behind the scenes look at the process.

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JF-17 Thunder In China, Zhuhai Airshow 2016

JF-17 Thunder In China, Zhuhai Airshow 2016

JF-17 Thunder is fighter jet of Pakistan Air Force currently taking part in Zhuhai airshow 2016 in China. It is jointly developed by Pakistan and China.

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Yemen’s Fight Club

Yemen’s Fight Club

At Yemen’s fight club, young people go head to head in the ring, not on the battlefield. Shot by video journalist Sara Ishaq in Yemen.

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