Pakistan in March announced a new auto policy that favours potential new entrants over existing manufacturers. PHOTO: PAK SUZUKI ISLAMABAD: Auto giants have managed to get the newly proposed auto policy scrapped, and the government has restarted the process to address concerns pertaining to electric vehicles, which pose a serious threat to conventional carmakers. The…
EXPANDING PLANTATIONS: Official estimates indicate millions of olive trees have been planted under various public-sector initiatives, with thousands of acres now under cultivation. Pakistan’s olive-growing zone is estimated to extend across nearly 10 million acres. PHOTO:FILE LAHORE: Pakistan’s fledgling olive oil industry is reaching a critical juncture where growers and processors believe future growth will…
Entrepreneurs voice concern over migration of industrial units from Lahore due to lack of incentives LAHORE: A delegation of SME entrepreneurs from Lahore’s auto sector met with Small and Medium Enterprises Development Authority (Smeda) Director Mashood Khan to highlight the pressing challenges threatening the survival of micro and small enterprises in the industry. Entrepreneurs expressed…
MEXICO CITY: The US Treasury bought yen on Friday to support the battered Japanese currency, the Financial Times reported, marking Washington’s first yen-buying intervention with Tokyo in more than a decade as it languishes near 40-year lows. The Federal Reserve Bank of New York sold euros for yen on behalf of the Treasury through Goldman…
HOUSTON: Top US oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions. Both companies reported large jumps in second-quarter refining profits on…
Finance minister Satsuki Katayama reportedly to confirm move Monday, first such effort since 2011 Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington took joint action in the currency market to arrest the yen’s slide to 40-year lows, two Japanese government officials told Reuters. Katayama is likely to stress the two countries’ determination to combat what they consider…
Interior minister echoes calls, says youth not seeking handouts but fair opportunities ISLAMABAD’: Federal Minister for Commerce Jam Kamal Khan, on Saturday, emphasised that reforming and restructuring the governance model is essential to meet the challenges of the modern digital age, saying the move is needed “more in this new era of digital speed than…
Bayraktar said he had a “productive” meeting in Ankara with Iraq’s oil minister and his delegation A picture of an oil pipeline. PHOTO: ANADOLU AGENCY ISTANBUL: Turkey and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the ?two countries, Turkish Energy Minister Alparslan Bayraktar said on Saturday. The agreement…
Big Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centres BENGALURU: Apple shares fell nearly 10% on Friday after a disappointing forecast showed that the iPhone maker was struggling to secure enough components as the AI-driven data centre boom strains global supply chains. The drop, if sustained,…
FBR’s FIFO policy cannot override taxpayer rights, Ombudsman rules after Rs42.86m refund delay ISLAMABAD: The Federal Tax Ombudsman has recommended that the Federal Board of Revenue (FBR) introduce a faceless income tax refund system to enable electronic transfer of refunds directly into taxpayers’ bank accounts after automated verification of eligible claims. The recommendation was issued…