Karachi: A single tola of 24-carat gold in Pakistan will be purchased at Rs106,100 on Thursday, 4 March, at the opening of the bullion market. Likewise, 10 grams of 24k gold were exchanged at Rs90,964, while 10 grams of 22k gold were traded at Rs83,383. As per data released by the All Sindh Saraf Jewellers …
Category Archives: Business
US Dollar value against Pakistani Rupee
KARACHI: The purchase rate of the US dollar was Rs157.15, while the sale rate was 157.35 on Thursday, March 4 at the opening of the currency market. “The appetite for hard currency to be paid by importers has been subdued,” said a foreign exchange broker at a commercial bank on Wednesday. “The surplus of dollars …
Gold rates on 3rd March in Pakistan
KARACHI: On Wednesday, a single tola of 24-karat gold was sold in Pakistan for Rs107,200. At the close of trade, the price of 10 grams of 24k gold was Rs 91,910. Similarly, 10 grams of 22k gold cost Rs. 84,250, while a 22k tola cost Rs. 95,240 at the market’s close. The bullion prices in …
Petrol prices to remain same in Pakistan
KARACHI: The prices of petroleum goods will continue till March, as per Prime Minister Imran Khan’s political coordination advisor, Shahbaz Gill. Gill said in a Twitter post that the Oil and Gas Regulatory Authority had suggested a raise of Rs6-7 per liter, but that PM Imran Khan had declined. اوگرا نے تقریباً 6 سے 7 …
SECP proposes reduction in turnaround time for payment of cash dividends
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is determined to facilitating minority shareholders and has decided to reduce turnaround time for payment of cash dividends to shareholders of listed organizations from 15 days to 03 working days only. SECP has released revisions to the Corporations (Distribution of Dividends) Rules, 2017, for public consultation. …
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Nasir Khan Becomes Acting President FPCCI
Karachi: Mian Nasser Hyatt Maggo, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proceeded abroad on an official visit. During his visit, Mr. Nasir Khan, Vice President FPCCI will be the Acting President of FPCCI.
Paradigm Shift is necessary in tax structure, President FPCCI
KARACHI: Mian Nasser Hyatt Magoo, President of the Federation of Pakistan Chambers of Commerce and Industry at a summit conducted with Chairman FBR alongside high ranking customs and IRS officials, said that it is high time for a paradigm shift in the tax system to facilitate investment, help development and growth in the economy instead …
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Emirates operates first fully vaccinated flight
Dubai: In acknowledgment of its contribution to the health and welfare of its staff and passengers, Emirates has become one of the world’s first airlines to fly a flight of entirely vaccinated frontline teams serving customers at any touchpoint of the trip. This morning, the full airport and on-board passenger encounter of flight EK215, which …
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‘All Boeing 777 are fitted with safest engines’ says PIA spokesman
PIA spokesperson said on Tuesday that all Boeing 777 planes in the PIA fleet are fitted with General Electric engines that are deemed to be the safest engines. Flight operations of the airline are routine as set out in its timetable. The Boeing Corporation has recently suggested the suspension of operations of 69 in service …
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PSX hosts a gong ceremony to mark the Panther Tyres Ltd listing
KARACHI: The Pakistan Stock Exchange (PSX) conducted a gong ceremony on Monday to mark the listing of Panther Tyres Ltd. Panther Tyres Ltd’s successful initial public offering was the fifth listing on the stock exchange in FY21 this fiscal year. The Gong was hit by PTL CEO Mian Faisal Iftikhar in the presence of PSX …
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Oil extends losses as Texas plans to scale up production
As Texas energy producers started planning to reopen oil and gas fields blocked by freezing conditions, oil prices dropped from recent highs for a second day on Friday. Brent crude futures dropped $1.16, or 1.8 percent, to $62.77 a barrel by 1150 GMT, while crude futures in the United States West Texas Intermediate (WTI) fell …
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Govt to provide hassle-free Roshan Digital Accounts
Roshan Digital Accounts Government declares a new streamlined and comfortable tax regime The Federal Government has announced several amendments to the Income Tax Ordinance 2001 through Tax Laws (Amendment) Ordinance 2021 on the basis of feedback from the diaspora and recommendations from the State Bank of Pakistan (SBP) to make the tax system simple, convenient, …
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Bitcoin surged to a new high record
Bitcoin, on Tuesday, surged above $50,000 to a new record high, building on a rally sparked by signals that institutional investors are increasing recognition of the world’s biggest cryptocurrency. With Bank of NY Mellon and Mastercard having affirmed it last week, bitcoin holders who see it as the prospect of finance are moving a big …
Rupee weakens against US dollar on 16 February
Karachi: The US dollar’s purchasing rate was Rs159.2, while Rs160 on Tuesday, February 16, was its sale rate. The rupee dropped during Monday’s trading session, breaking a five-session winning streak, as a recent surge in dollar demand from importers dragged down the local currency, dealers said. Dealers also said the national currency did give up …
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Gold rate increased on 16 Feb
Karachi: On Tuesday 16 February, at the close of the bullion market, a single tola of 24 karat gold was sold in Pakistan for Rs111,200. Similarly, at the close of trade, 10 grams of 24k gold were valued at Rs95,336. Additionally, for Rs87,391, 10 grams of 22k gold was exchanged. The All Sindh Saraf Jewellers …
PTI’s Govt to recover 386 bn from sugar mills
Islamabad: The PTI government has decided to recover Rs 386 billion from sugar mills for which National Accountability Bureau cases have been sent. In a recent cabinet meeting, Prime Minister Imran Khan instructed the Adviser on Accountability and Home Affairs to brief the Cabinet on the action taken so far on the report of the …
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PPAF and Taraqee Foundation plant 80,000 trees in Balochistan
Islamabad: Taraqee Foundation with the support of United Nations Development Program (UNDP Pakistan), Pakistan Poverty Alleviation Fund – PPAF, Forest and Wildlife Department and Government of Balochistan, initiated a mass tree plantation campaign called “Chand Meri Zameen – Phool Mera Watan” The drive targets multiple cities of Balochistan including Quetta, Pishin and Nushki. As part …
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CEO PIA visited Bin Qasim Association of Trade & Industry
Pakistan International Airline delegation headed by CEO Air Marshal Arshad Malik along with team visited BQATI Secretariat The CEO PIA, Air Marshal Arshad Malik was welcomed by the Patron in Chief / Founder President, BQATI, Mian Muhammad Ahmed, Founder Vice President Mr. Usman Ahmed, Senior Vice President Mr. Iftikhar Ahmed the meeting was attended by …
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Habibmetro Bank Joins Roshan Digital Account
KARACHI: 12 February 2021 – Habib Metropolitan Bank Limited (HABIBMETRO) has joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan. Roshan Digital Accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs) and Resident Pakistanis (RPs) with declared offshore assets, who need a secure and convenient facility, to undertake banking-payments, …
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PSX dismisses the fake notice about placing M/s. WorldCall Telecom in the Defaulters’ list
Karachi: Pakistan Stock Exchange Limited has dimissed the rumors about the alleged circulating a notice on social media regarding M/s. WorldCall Telecom Limited. According to a statement issued, PSX “has received multiple calls for confirmation of alleged PSX Notice No. PSX/N-215 dated February 11, 2021; circulating on social media relating to the placement of M/s. …
Pakistan Tobacco Company Unveils Its New Corporate Identity
Managing Director & Chief Executive Officer of Pakistan Tobacco Company Limited unveiled their new logo reflecting on the company’s evolved strategy, in line with its parent company British American Tobacco plc (BAT) that has set out three clear priorities for its business across the globe: – Drive value from traditional combustible products – Ensuring a …
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After global market, gold prices rise in Pakistani market
Gold has also become more expensive in Pakistan after the rise in the international bullion market. In the international bullion market, the price of 24 karat gold per ounce rose by dollar 20 to 1843, while in the local barter markets, the price of gold per tola and per ten grams increased by Rs. 300 …
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US dollar sold at Rs160.6 on 8 February
The sales rate of the US dollar was Rs159.9, while the sale rate was Rs160.6 on Monday, 8 February. In the meantime, the prices of the US Dollar, Saudi Riyal, UK Pound, UAE Dirham, and other foreign currencies in the free market were as follows. Currency Buying Selling Australian Dollar 121 123 Canadian Dollar 123 …