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Gold scales new peak of Rs86,250

KARACHI: Domestic gold price on Friday touched an all-time high of Rs86,250 per tola and Rs73,945 per 10 grams, up by Rs1,750 and Rs1,500 over Tuesday. All Sindh Saraf Jewellers Association (ASSJA) quoted the world gold price of $1,495 per ounce, showing a jump of $32 per ounce over Tuesday. …

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US hints at greater economic engagement with Pakistan

WASHINGTON: The United States and Pakistan can further enhance bilateral trade if strategic ties between the two countries continue to improve, said a White House factsheet released on Tuesday. The factsheet “Working toward Peace and Stability: Building Economic Prosperity” notes that the United States and Pakistan enjoy a strong economic …

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Apple’s iPhone sales drop to less than half of quarterly revenue

Apple iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets. That strategy proved especially useful in China, the …

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Number of taxpayers in Pakistan rises by 700,000

ISLAMABAD: The number of taxpayers in Pakistan has risen by 700,000 over a year-long period, according to statistics of the Federal Board of Revenue (FBR). As per the FBR’s statistics, the total number of people who submitted their tax returns rose by 700,000 to a total of 2.154 million. Of …

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Inflation to peak over next four months before declining: Asad Umar

ISLAMABAD: National Assembly’s Standing Committee on Finance Chairman Asad Umar said that the rate of inflation will remain high over the next two to four months, before it begins to decline. The former finance minister was speaking to Geo News programme ‘ Aaj Shahzeb Khanzada Kay Saath’. Umar said that …

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100,000 non-filers to be issued notices

  ISLAMABAD: With less than five days left for filing of tax returns for tax year 2018, the Federal Board of Revenue (FBR) has decided to issue notices to at least 100,000 non-filers who own a house larger than five hundred square yards or a vehicle over 1,000 cc. “We …

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Financing scheme for RE projects extended

KARACHI: The State Bank of Pakistan (SBP) has extended the financing scheme for renewable energy (RE) to June 30, 2022. The central bank on Friday said the financing scheme, which was launched in June 20, 2016 and expired at the end of FY19, had now been extended after consultation with …

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Stocks lose 343 points on selling pressure

KARACHI: Bears tightened their hold on the stock market on Friday as the KSE-100 index witnessed a steep drop of 343.13 points (1.06 per cent) and closed at 32,103.27. As widespread selling was seen across the board, major bleeding was witnessed in the exploration and production, refinery, cement, autos, steel …

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Solar power system prices go up

KARACHI: Despite sharp increase in the price of panels, inverters, dry batteries etc due to the steep rupee devaluation, the demand for solar power systems remains robust across the country amid higher electricity tariffs. For example, the installation of 5kW and 10kW solar power system [panels, inverter and batteries] now …

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