Karachi: Today, the price of 24 karat gold has been further reduced by Rs. 500, bringing the price of gold per tola to Rs. 112,400. The price of gold per tola has declined by Rs. 500 while 10 grams of gold has decreased by Rs. 429. Consequently, one tola of gold is worth Rs. 112,400 …
Category Archives: Business
FBR’s priority is to cut costs for businesses in the next budget, says Dr. Ashfaq
KARACHI: Member Inland Revenue – Operations, Federal Board of Revenue (FBR) Dr. Muhammad Ashfaq Ahmad has said that for the next budget, FBR’s priority is to cut the cost of doing business, get rid of excessive taxation, reduce compliance cost and set businesses free so that they could have minimum interaction with tax authorities and …
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Petroleum products likely to rise by Rs 5 to 7 per liter
Karachi: The Khan-led government, today, is likely to increase the rate of petroleum commodities by Rs 5 to 7 per liter. A report of The Oil & Gas Regulatory Authority (OGRA) has been sent to Prime Minister Imran Khan as he is the ultimate authority to make the decision. Prices of petroleum products are likely …
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Rs 500 reduction in gold price
Karachi: the prices of Gold fell by Rs 500 to Rs 112,900 per told. The rate of 10 grams of gold fell by Rs 428 to Rs 96,794. Gold rates fell by 16 dollars to 1839 dollars an ounce in the global market.
Gong Ceremony on Listing of Preference Shares of Engro Polymer & Chemicals Limited
Karachi: In an exciting development at Pakistan Stock Exchange, a Gong Ceremony was held to mark the listing of preference shares of Engro Polymer & Chemicals Limited (EPCL). The said listing which brings forth a new investment opportunity from EPCL, took place on 31st December, 2020. To open the trading day, the gong was struck …
Ogra denies rumors about rise in petrol prices
The Oil and Gas Regulatory Authority (Ogra) denied news making rounds on media on Thursday about recommending the government to increase in petrol prices. “Reports that are spreading on media relating to the rise in prices of petroleum products are uncorroborated,” clarified a spokesperson. The sources in the petroleum division informed that Ogra has proposed …
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SBP voted as the best central bank for promoting Islamic finance
Karachi: State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll conducted by Islamic Finance News (IFN), REDmoney Group Malaysia, today. This is the second international award bestowed upon SBP for Islamic Banking during FY2021. Earlier the Global Islamic Finance Awards …
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FBATI demandes immediate removal of all taxes on cotton
Karachi, January 13 : Federal B Area association of trade and industry (FBATI) has demanded immediate removal of all taxes
Who is World’s richest, Jeff Bezos or Elon Musk?
Elon Musk returned the crown of being the world’s richest man to the CEO of Amazon Jeff Bezos when the founder of Tesla lost $13.5 billion in a day. However, the story took a surprising turn. the founder of Tesla and SpaceX surpassed Jeff Bezos on January 7 and became the wealthiest person on the …
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Byco Begins Civil Works On FCC, DHDS Units
Karachi: Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, reached a key milestone in its Upgrade 1 project by beginning civil works construction on 9th January 2021 at the site earmarked at its refining complex for the construction of the project. In an Extraordinary General Meeting held on 2nd April 2020, Byco had announced …
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Cryptocurrency down by 200 billion in 24 hours
Karachi: The deliberate decline in the market value of cryptocurrency by 200 billion in 24 hours. Market analysts have called the decision “risky” for investors. According to Forbes Magazine, 200 billion has been wiped off from the market in the last 24 hours. The decline was recorded after the cryptocurrency’s market value rose 100 percent …
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Saudi Arabia announces new petrol prices
Karachi: Saudi Aramco has issued new rates for January 2021 with the increase in petrol prices. According to the new rates released by Saudi Aramco, the rate of 91 petrol has been fixed at 1.62 riyals per liter while the price of octane 95 has been fixed at 1.75 riyals per liter. The new prices …
Export of kinnow suspends due sit –ins of protesters at different places in Karachi
The exporters are likely to face huge financial losses due to the inaccessibility of export containers of kinnow to the seaport. According to reports, 400 export containers of kinnow worth USD 4.6 million are standing still awaiting transportation to the seaport. If the reefer containers are not supplied with electricity to maintain the specific temperature, …
Bitcoin is sold more than $35,000 for the first time in Asia
Karachi: Bitcoin, rises to $35,879 on Wednesday, was trading above $35,000 for the first time in Asia. The world’s most famous cryptocurrency, on Dec 16, 2020, had reached $20,000 for the first time almost three weeks earlier. Bitcoin hit a peak of $20,800 and gained 170pc or more for the year 2020 which remained in …
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Further rise in the value of the dollar
Karachi: The dollar rose on the second day of the trading week in the interbank market. Interbank closing #ExchangeRate for today: https://t.co/T7wicZAxHH pic.twitter.com/tE3s89hrFC — SBP (@StateBank_Pak) January 5, 2021 According to the report released by the State Bank of Pakistan (SBP), the value of the dollar has risen by 35 paise in the interbank market. …
Rupee surges against the dollar over the past week
Karachi: In the open market, the dollar has depreciated by 20 paise in a week. In the open market, the dollar has fallen from 160.50 to 160.30 during the week. According to the weekly report of the dollar, it has been decreased by 49 paise in the interbank market. The dollar fell from Rs 160.32 …
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Severe measures to be taken against the elements involved in oil smuggling
Karachi: Prime Minister Imran Khan has said that strict measures should be taken against the elements involved in oil smuggling. According to details, a high-level meeting on anti-trafficking measures was held under the chairmanship of Prime Minister Imran Khan. During the briefing, it was said that the sale of smuggled oil is causing an annual …
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Pakistan to develop its own Male UAV (Drone)
Karachi: The news about developing the Male UAV (Drone) here in Pakistan is circulating. In the introduction ceremony of the Pakistan Air Force, the information about is making rounds on social media that Male UAV (Drone) will be locally developed like the previous two Armed drones in the Project of Azm. In the recent pictures …
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IKEA to enter Pakistani market
Karachi: IKEA, a famous furniture retail company, is all set to come to Pakistan in the coming months. IKEA is ready to launch its cost-effective product range to the Pakistani market. The multinational empire is notorious for its customer-friendly furniture and distinct designs. A Pakistani ambassador, Mohammad Faisal, announced the news of IKEA ready to …
The FPCCI’s annual election for 2021 has begun
Karachi: Voting for the FPCCI’s annual election for 2021 has begun. A total of 374 voters will cast their votes in the elections. The polling is going on till 5 pm. Sheikh Khalid Tawab is the joint candidate of United Business Group and National Business Group in the election while Mian Nasir Hayat is the …
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The federal government has increased the price of electricity
Karachi: The federal government has increased the price of electricity by 18 paisa per unit. The Power Division has issued a notification to increase the price of electricity, according to which the average electricity tariff has been increased from Rs 13.35 paise to Rs 13.53 paise per unit. The increase in electricity prices was in …
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Prices of petroleum products are to increase by Rs 4
Karachi: Prices of petroleum products in Pakistan are likely to go up by Rs 4 in the wake of rising crude oil prices in the global market. According to sources, the Oil and Gas Regulatory Authority (OGRA) has begun working on the prices of petroleum products shortly after the rise in crude oil prices. Sources …
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Dollar value Spikes
Karachi: The dollar rose on the first day of the trading week on the interbank market. According to the data released by the State Bank of Pakistan, the value of the dollar in the interbank market has increased by 6 paisa. Interbank closing #ExchangeRate for today: https://t.co/McjMBAw7UT pic.twitter.com/SdOJPHvTnS — SBP (@StateBank_Pak) December 28, 2020 According …