KARACHI: The Pakistan IT Industry Association (P@SHA), in its federal budget 2026-27 proposals, has stressed the need to clearly distinguish between genuine project-based freelancers and full-time remote employees working for overseas companies, warning that blurred definitions are creating tax distortions in the digital economy. The association’s statement comes in light of recent reports indicating the…
KARACHI: Pakistan’s equity market closed the week on a strong note as investor sentiment improved amid easing geopolitical tensions following the extension of US-Iran ceasefire for 60 days. The benchmark KSE-100 index surged 4% week-on-week to close at 173,963, gaining 6,119 points, in the shortest trading week of this year due to Eid holidays. The…
GDP declines 0.1% as trade uncertainty, tariffs and falling investment pressure economy OTTAWA: Canada’s economy posted a surprise contraction in the first quarter versus the year before, making it two straight quarters of annualised decline – which some economists call a technical recession – as the country struggles with US tariff uncertainty. Gross domestic product…
Current policy focuses on structural reforms, greater utilisation of local resources, less reliance on external chains LAHORE: Pakistan’s increasing dependence on imported fossil fuels is exposing the economy to mounting fiscal and energy security risks amid declining domestic gas reserves and rising industrial demand. A detailed report and SWOT analysis released by the Institute of…
KARACHI: Despite persistent scepticism over whether electric vehicles (EVs) can gain meaningful traction in Pakistan amid infrastructure constraints, high upfront costs and concerns over power availability, the country’s automobile sector appears set for its most significant transformation in decades. Industry data compiled by Arif Habib Limited (AHL) indicates that around 23 new vehicle models are…
Trade agency said that the two sides will continue to advance their discussions on June 16-17 in Washington, DC MEXICO CITY: The US and Mexico trade negotiators on Friday concluded their first bilateral negotiating round to revise the US-Mexico-Canada Agreement on trade, discussing automotive rules of origin, steel and aluminum trade and economic security, the…
Pilot salary payments, healthcare disbursements using e-CNY; incentivises banks to boost usage LONDON: China’s central bank is making a broad push to increase the use of digital yuan at home and abroad, several industry sources said, setting Beijing on a different – and potentially competing – path from the United States in shaping the future…
DUBROVNIK: Central bank independence is again coming under pressure as policymakers push through unpopular measures to curb surging prices, prompting political interference that could erode trust and deepen the crisis, current and former officials said. Inflation has picked up worldwide since the US-Iran war drove up oil prices, forcing central banks to raise interest rates…
Central bank injects over Rs650b into banking system; gold falls despite global rebound State Bank of Pakistan. Photo: File KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $66 million on a weekly basis to $17.147 billion, according to the latest data released on Friday. The country’s total liquid…
KARACHI: Islamic money market transactions amounted to Rs142.6 billion for May 25, 2026, with activity distributed across multiple Shariah?compliant instruments, including Mudaraba and Musharaka, spanning interbank and non?bank financial segments. According to figures released on Friday by the State Bank of Pakistan (SBP), the largest contribution came from transactions between banks, non?banks and among non?bank…