Malawi consul proposes direct linkages, cites potential for significantly higher profits KARACHI: Highlighting Africa as one of the world’s most promising untapped trade frontiers, Malawi Honorary Consul in Karachi Abdullah Zaki has urged Pakistan’s business community to shift focus beyond traditional export destinations and capitalise on the immense commercial opportunities available in Malawi and the…
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved Treet Corporation Limited’s proposal to subscribe to additional ordinary shares of Loads Limited through a rights issue, according to a statement issued on Tuesday. Treet Corporation submitted a pre-merger application under Section 11 of the Competition Act, 2010, seeking approval for the transaction. Treet Corporation is…
ISLAMABAD: The government is set to exempt state-owned energy companies from adopting international financial reporting standards (IFRS) whose implementation without settling circular debt will result in potential Rs500 billion credit losses and erosion of equity and market capitalisation of these firms. A special committee has proposed to the Cabinet Committee on State-Owned Enterprises (SOEs) to…
Aurangzeb welcomed the continued scaling up of risk-sharing and partial guarantee schemes, particularly for SMEs and small farmers, to mobilise private capital. photo:file KARACHI: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday announced the formation of a dedicated SME Finance Task Force to expand access to credit for small and medium enterprises,…
LONDON/SINGAPORE: Global liquefied natural gas trade hit a record last year as strong US exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday. Conflict in the Middle East could lead to a contraction in 2026, however, it warned. “The conflict in the Gulf has damaged…
KARACHI: Gold prices continued to decline for the fourth consecutive day in global and local markets on Wednesday. In the international bullion market, the price of gold fell by $47 per ounce, reaching $4,078 per ounce. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local…
KSE-100 Index falls 1,833.99 points to 184,421.56 by midday as investors continue broad-based selling KARACHI: Fresh geopolitical uncertainty jolted investor confidence on Wednesday, unleashing a sharp sell-off at the Pakistan Stock Exchange that briefly pushed the benchmark KSE-100 Index down almost 2,500 points during the opening minutes of trading. The sell-off was triggered by heightened…
KARACHI: Gold prices in Pakistan declined on Tuesday, mirroring losses in the international market, as investors tracked escalating tensions in the Middle East that pushed oil prices higher and awaited the US Federal Reserve’s June meeting minutes for clues on future monetary policy. In the local market, the price of gold per tola fell Rs2,500…
Oil prices gained more than 2% on Wednesday after the US military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again. Brent crude futures gained $1.92, or 2.6%, at $76.08 a barrel. US West Texas Intermediate crude climbed $1.82, or 2.6%, to $72.26 a…
The minister urged citizens to always demand a proper receipt while making payments and to discourage businesses that refuse to issue e-bills or accept digital payments. photo:file LAHORE: Punjab Finance Minister Mian Mujtaba Shujaur Rehman has said the provincial government will achieve its revenue targets in the new fiscal year without imposing any additional tax…