Rupee’s value is in tune with the market: Asad Umar

Rupee’s value is in tune with the market: Asad Umar

According to media reports, Finance Minister Asad Umar said that there is no reason for any further devaluation in the rupee. Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, the Finance Minister said, “Rupee’s value is in tune with the market and the State...

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Money laundering case: Court to hear first NAB reference on April 19

Money laundering case: Court to hear first NAB reference on April 19

The first National Accountability Bureau (NAB) reference pertaining to the fake bank accounts and money laundering case has been fixed for the hearing by an accountability court, ARY News reported on Thursday. Accountability court Judge Muhammad Bashir has issued summons to all suspects, including former Karachi administrator Muhammad Hussain Syed,...

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Pakistan GDP growth to decelerate further to 3.9% this year: ADB

Pakistan GDP growth to decelerate further to 3.9% this year: ADB

The Asian Development Bank has forecast Pakistan’s economic growth to decelerate to 3.9% in fiscal year 2019 following a pronounced widening of the country’s balance of payments deficit in 2018. In its flagship economic publication titled “Asian Development Outlook (ADO) 2019,” the bank said Pakistan’s GDP growth is forecast to...

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FBR extends deadline for filing tax returns to April 30

FBR extends deadline for filing tax returns to April 30

ISLAMABAD: The Federal Board of Revenue (FBR) Sunday further extended the date of filing of income tax returns / wealth statements for the tax year 2018 till April 30. According to FBR statement, the date of filing of returns for companies, individuals and association of persons has also been extended...

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SBP to announce its new bi-monthly monetary policy today

SBP to announce its new bi-monthly monetary policy today

KARACHI: The State Bank of Pakistan will announce its bi-monthly monetary policy on Friday (today), media sources reported. The central bank will release a statement to announce its policy review for the next two months. The focus for the general public in a new monetary policy of the state bank...

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FBR: Regional offices to extend office hours on Friday, Saturday

FBR: Regional offices to extend office hours on Friday, Saturday

According to sources, The Federal Board of Revenue (FBR) has directed all large taxpayer units, corporate regional tax offices and regional tax offices to extend office hours for Friday and on Saturday. The decision was made in order to facilitate the taxpayers in payment of duties and taxes and filing...

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“There has been no change in cash limits or tax rates in any of the two provisions of law.”: FBR

“There has been no change in cash limits or tax rates in any of the two provisions of law.”: FBR

According to sources, The Federal Board of Revenue (FBR) on Wednesday made it clear that the government had not revised rates or limits for tax on cash withdrawal from bank accounts. The FBR’s spokesperson said, “There has been no change in cash limits or tax rates in any of the...

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Uber buys Careem, terms Pakistan as one of the fastest growing markets

Uber buys Careem, terms Pakistan as one of the fastest growing markets

Uber’s Chief Executive Officer (CEO) Dara Khosrowshahi has termed Pakistan as one of the ride-hailing apps fastest growing markets. “Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in...

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State Bank releases Second Quarterly Report on the State of Economy

State Bank releases Second Quarterly Report on the State of Economy

The State Bank of Pakistan today released its Second Quarterly Report on The State of Pakistan’s Economy for FY19. As stated by the report, the effects of macroeconomic stabilization measures taken since December 2017 started to unfold as the economy moved into the second quarter of FY19. More specifically, monetary...

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Abu Dhabi launches Dhs 1bn mega hub to boost tech start-ups

Abu Dhabi launches Dhs 1bn mega hub to boost tech start-ups

ABU DHABI: The Abu Dhabi government has just launched a Dh1 billion mega hub that seeks to accelerate the local economy by bringing together start-ups, innovators and global powerhouses in the technology industry. U.S. tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join...

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