Business

OSAKA: U.S. President Donald Trump and Chinese President Xi Jinping are set for a high-stakes meeting in Japan on Saturday that could salvage trade talks or plunge the world’s two largest economies into a deeper trade war. The dispute has already cost companies in both countries billions of dollars, disrupted …

TOKYO: Oil prices climbed on Monday as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced. Brent futures were up 37 cents, or 0.6%, at $65.57 a barrel by 0044 GMT. West Texas Intermediate crude …

KARACHI: Local gold prices on Saturday scaled new peaks of Rs78,600 per tola and Rs67,387 per 10 grams, up Rs500 and Rs429 respectively from Friday. The price hike comes on the back of $6 increase in per ounce prices of gold in the international market. During the calendar year, per …

The US Commerce Department blacklisted five Chinese tech entities Friday in a new move against Beijing’s supercomputing industry likely to raise tensions ahead of a meeting between President Trump and Xi Jinping next week. The notice targets Sugon — a prominent Chinese supercomputer manufacturer — along with three of its …

BANGKOK: Southeast Asian leaders gathered in Bangkok on Saturday determined to drive forward the world’s largest commercial pact, with the trade war between the US and China clouding the outlook for their export-led economies. Disputes in the flashpoint South China Sea, Myanmar’s persecution of Rohingya Muslims and plastic pollution in …

ISLAMABAD: Pakistan on Tuesday signed three loan agreements worth a total of $918 million with the World Bank. Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh witnessed the signing of the agreement between Country Director World Bank Patchamuthu Illangovan and Economic Affairs Division …

  ISLAMABAD: The government has formed a high-powered body also comprising military authorities to formulate development and economy-oriented policies of the country. The National Development Council (NDC) to be headed by Prime Minister Imran Khan will also have Chief of the Army Staff Gen Qamar Javed Bajwa as one of …

PESHAWAR: Khyber Pakhtunkhwa’s Finance Minister Taimur Saleem Jhagra on Tuesday presented the province’s budget for financial year 2019-20, which has a total outlay of Rs900 billion. Out of the total outlay, spending on the annual development programme has been suggested to be Rs236bn. The budget speech was delivered in the …

  Pakistan’s products have attracted a large number of local and international entrepreneurs at the ongoing South and Southeast Asia Commodity Expo and Investment Fair in China’s Kunming city, reported Radio Pakistan on Monday. The objective of the Expo, being held at Kunming’s Dianchi International Convention and Exhibition Center, is …

ISLAMABAD: The Federal Board of Revenue (FBR) here on Monday said that it had received data of all bank accounts from which withholding tax was being deducted and added that a scrutiny was being conducted to bring the non-filers into the tax net. In a statement, the FBR stated that …