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Panama Papers have hardly helped in extracting tax: officials

ISLAMABAD (Web Desk) More than a year since issuing notices to the Pakistanis mentioned in the Panama Papers, the country’s tax officials are losing hope of obtaining information about the money used to buy assets abroad. In September 2016, the intelligence directorate of the Federal Board of Revenue (FBR) issued 344 …

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Iran’s oil exports to India up 88%

Tehran (Web Desk) The latest market figures indicate a giant increase in India’s imports of crude oil from Iran throughout October in yet another sign of success for the Iranian oil industry after the removal of sanctions that had decimated its exports for several years. Figures released by Reuters show …

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Pakistanis to get equal opportunity to invest in CPEC economic zones

ISLAMABAD (Web Desk) The government has decided to start construction work at Gwadar Port by March 2018, and contrary to earlier reports in the media, has agreed that Chinese and Pakistani investors will get an equal opportunity to invest in economic zones that will be established along the China-Pakistan Economic Corridor …

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Bitcoin slides by over $1,000 in less than 48 hours

LONDON (Web Desk) Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.Bitcoin has been on a tear in recent months, with a …

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OGRA raises freight fares after oil tanker owners strike threat

ISLAMABAD (Web Desk) The Oil and Gas Regulatory Authority (OGRA) on Saturday raised the freight fares for oil transportation after All Pakistan Oil Tanker Owners Association (APOTA) threatened to observe countrywide strike from Nov 13.According to a notification issued by the OGRA, the transportation fares for oil tankers short route …

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KP seeks $200m loan for hydropower

ISLAMABAD (Web Desk) The government is seeking $200 million from the International Development Association (IDA), a World Bank affiliate,to increase its installed hydropower capacity and build institutional capacity for further hydropower development in Khyber Pakhtunkhwa, it was learnt.The project, costing $659m, will support the development of cascade on Swat River …

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Honda complaint fuels confusion

KARACHI (Web Desk) Auto assemblers and oil industry executives expressed confusion over the complaint filed by Honda Atlas that petrol in Pakistan carries higher-than-recommended levels of manganese additive, which is damaging its engines.We have received no complaints along these lines,” said Ali Asghar Jamali, CEO of Indus Motor Company. “Our …

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Govt increases prices of all petroleum products

ISLAMABAD (Web Desk) The federal government has revised prices of all petroleum products upward for the month of November in an announcement on Wednesday.A notification of the petroleum ministry said the fuel prices have been increased to keep up the trend of hike in crude oil prices in the global …

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Switching to climate-smart agriculture

LAHORE (Web Desk) PAKISTAN has been asked to fully adopt the climate-smart agriculture (CSA) approach to achieve food security and broader development goals under a changing climate and increasing food demand.The proposal has been incorporated in a study carried out by the World Bank in association with the International Centre …

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Bitcoin crosses $6,000 mark for the first time

NEW YORK (Web Desk) In the latest price spike, Bitcoin saw its its price jump north of $6,000 for the first time, weeks after it crossed the $5,000 figure for the first time.The currency peaked at $6,067. At the time that this article was written, it is trading at around …

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