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Business

Far-reaching import curbs on the cards

ISLAMABAD (Web Desk) The Commerce Division is working on proposals that seek to invoke various articles of Geneva-based World Trade Organisation to curtail the rising import bill of the country, an official told Dawn on Saturday.Two articles Articles XI and XII of the General Agreement on Tariffs & Trade (GATT), …

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Coal terminal collects extra fee for cargo handling

ISLAMABAD (Web Desk) Pakistan International Bulk Terminal (PIBT) is collecting an extra fee from customers over handling coal at Port Qasim, industry players say.Documents available with The Express Tribune revealed that PIBT had been instructed by the Supreme Court to collect existing cargo handling charges after coal handling was stopped …

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Saudi Arabia starts marketing dollar sukuk, targets $2 billion

DUBAI (Web Desk) Saudi Arabia has started marketing a US dollar-denominated sukuk, or Islamic bond with the issue expected to be around $2 billion in size, a document showed on Wednesday.It would be the kingdom’s second international sale of sukuk after a $9 billion transaction last year.The bonds, with a …

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Oil prices climb as Iran sanctions loom

SINGAPORE (Web Desk) Oil prices rose on Tuesday amid looming US sanctions against Iran’s petroleum industry, despite efforts by Washington to get other major suppliers to make up for the expected disruption.U.S. West Texas Intermediate (WTI) crude futures were at $67.70 per barrel at 0637 GMT, up 65 cents, or …

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First tax recovery made under Panama Papers investigation

ISLAMABAD (Web Desk)  Exactly two years after starting the exercise, the tax authorities have reported their first recoveries under the investigations into assets held by individuals named in the Panama and Paradise papers.Data from the Federal Board of Revenue, obtained by Dawn, shows that the Karachi and Islamabad LTU have …

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New finance bill next week: Asad

KARACHI (Web Desk) The government is set to table a finance bill in the next National Assembly session to curb the fiscal slide and gain a better grip on the economy next week, and hopes to make proposed measures effective by the start of October following clearance from the Senate. …

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Pakistan has now 151 million mobile users

ISLAMABAD (Web Desk) The number of cellular subscribers in Pakistan has reached 151 million by the end of July 2018, indicating an upward trend with each passing month.The Telecom sector is one of the fastest growing segments of Pakistan’s economy as The Telecom industry has seen a dramatic increase in …

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