BANKING
40% tax to be imposed on banks with windfall profits
KARACHI: The supervisory government has imposed a 40 percent tax on profits on banks dealing in foreign currency, which will have to be paid within the current month. According to the details, the Ministry of Finance has issued a notification
Illegal trade in Asia: How did Pakistan become the most affected country?
ISLAMABAD: Many countries, including Pakistan, are facing huge losses as a result of illegal trade in Asia, but experts believe that Pakistan is the most affected country, whose economy faces a loss of thousands of billions annually. In one of
IMF delegation reaches Pakistan for economic review
ISLAMABAD: A delegation of the International Monetary Fund (IMF) has reached Pakistan. According to the sources, the IMF mission includes 8 people who have arrived in Pakistan for economic assessment, 2 people from the IMF office established in the Ministry
COMMODITIES
40% tax to be imposed on banks with windfall profits
KARACHI: The supervisory government has imposed a 40 percent tax on profits on banks dealing in foreign currency, which will have to be paid within the current month. According to the details, the Ministry of Finance has issued a notification
Inflation stays high at 26.9% for October
Pakistan’s inflation clocked in at 26.9% on a year-on-year basis in October, the Pakistan Bureau of Statistics (PBS) said on Wednesday. On a month-on-month basis, the CPI inflation increased by 1.08pc in October. This takes July-October’s average inflation to 28.48%
Another 29 PIA flights cancelled
LAHORE: The flight operation of Pakistan International Airlines continues to be affected as another 29 domestic and international flights of PIA have been canceled today. Around six flights between Islamabad Gilgit and Skardu are being operated even today. According to
TAXES & SUBSIDIES
Illegal trade in Asia: How did Pakistan become the most affected country?
ISLAMABAD: Many countries, including Pakistan, are facing huge losses as a result of illegal trade in Asia, but experts believe that Pakistan is the most affected country, whose economy faces a loss of thousands of billions annually. In one of
OIL & GOLD
Gold rates up in Pakistan
ISLAMABAD: The per tola price of 24 karat gold increased by Rs.800 and was sold at Rs 218,400 on Tuesday compared to its sale at Rs 217,600 on the last trading day. The price of 10 grams of 24 karat
Pakistan witnesses big decrease in gold prices
KARACHI: Gold prices dropped in the domestic market of Pakistan on Saturday in line with a decrease in international prices. Data shared by the All Pakistan Gems and Jewellers Association showed per tola gold price went down by Rs2,100 to
Gold rates decline in Pakistan
ISLAMABAD: The per tola price of 24 karat gold decreased by Rs.200 and was sold at Rs.214,000 on Tuesday compared to its sale at Rs. 214,200 on the last trading day. The price of 10 grams of 24 karat gold
Gold rate plunges by Rs400 per tola in Pakistan
ISLAMABAD: The per tola price of 24 karat gold decreased by Rs.400 and was sold at Rs.214,400 on Monday compared to its sale at Rs. 214,600 on the last trading day. The price of 10 grams of 24 karat gold
Gold price up by Rs1,100 per tola in Pakistan
ISLAMABAD: The per tola price of 24 karat gold increased by Rs1,100 to Rs.214,400 on Friday as compared to its sale at Rs 213,300 on the last trading day. The price of 10 grams of 24 karat gold also increased
Govt keeps petrol, diesel prices unchanged for next fortnight
The federal government has announced keeping the fuel prices unchanged for the next fortnight. According to a notification issued by the Finance Division, the fuel prices will remain unchanged for the next 15 days. Petrol will continue to be
Gold rate up by Rs.900 to Rs.213,000 per tola in Pakistan
ISLAMABAD: The per tola price of 24 karat gold increased by Rs.900 in Pakistani markets and was sold at Rs.213,000 on Tuesday compared to its sale at Rs.212,100 the previous day of trading. The price of 10 grams of 24
CRYPTO
Sam Bankman-Fried convicted of fraud: What’s next?
FTX founder Sam Bankman-Fried was convicted on 2 November of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in US history. A New York federal jury convicted
Pakistan claims 8th spot in Chainalysis’ Global Crypto Adoption Index
In the 2023 Geography of Cryptocurrency report, Chainalysis ranked Pakistan the eighth country in grassroots cryptocurrency adoption. As a result, it has become one of the six CSAO (Central & Southern Asia and Oceania) nations in the top 10 rankings
Bitcoin Surges to All-Time Highs in Turkey and Nigeria
Declining national fiat currencies and a generally unstable economy have helped propel bitcoin (BTC) to all-time high prices in Turkey and Nigeria, despite the asset trading 50% below its peak in the U.S. dollar terms. Recent price surges have caused
GLOBAL MARKET
A list of Israeli products to boycott
In solidarity with the Palestinian cause, this list identifies products and brands associated with Israel, encouraging conscientious consumer choices. 1. Aquafina The owner of Aquafina, PepsiCo, bought SodaStream for $3.2bn and owns 50% of Sabra both of which had taken
Toyota recalls 1.85 million RAV4 SUVS over fire risks
Toyota Motor said it is recalling 1.85 million RAV4 sport utility vehicles in the United States over fire risks stemming from the installation of replacement batteries. The recall covers 2013-2018 model year vehicles. Toyota said some replacement 12-volt batteries have
Wall St falls as investors assess more data, earnings; Fed meet in focus
Wall Street’s main stock indexes dipped in choppy trading on Tuesday in the run-up to the Federal Reserve’s monetary policy meeting, while investors assessed the latest batch of earnings reports and parsed through more economic data. Nvidia (NVDA.O) was a
