Saturday, September 21, 2019
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PK-Economy

KSE-100 surges 129 points

As expected, FTSE rebalancing proved to be a non-event on Friday. Market remained positive throughout the session; however, the gains were limited. 100 Index went up by 212pts but ended +55pts (unadjusted) just before the roll-over week begins. Cement sector,...

KSE 100 recovers 339 points on rising crude prices

KSE 100 moved up on Thursday after sustaining losses for the past three sessions. E&P sector took cue from rising crude prices and were further helped by Iran’s taking down of US drone. Besides the positivity in E&P sector, Cement...

Pakistan: Gold price reaches historic high

Gold price in domestic market on Thursday recorded an increase of Rs 1800 per tola.  Gold price after day high closed at Rs 77300 per tola. 10 grams gold price jump by Rs 1542 to Rs 66272. Bullion rates...

PIA rose domestic airfares by 90 percent

Pakistan International Airlines (PIA) jacked up the fares for their domestic passengers. With the latest increase, the return ticket of Karachi to Islamabad bound flight is being sold at around Rupees 63,000. The Pakistan International Airlines is charging Rs 31,540...

PSX review: Stock market to remain positive in the upcoming week

This week trading commenced on a negative note in the stock market as the government unveiled missed targets for FY19 in the Economic Survey document along with arrest of Asif Ali Zardari (Ex-President) which resulted in the KSE-100 index...

Pakistani Rupee sheds 3 percent in a single day

US dollar on Friday jumped nearly three percent against the Pakistani rupee, reached an all-time high. As per details, the worth of the greenback increased by Rs2.80 in the interbank market to reach Rs156.80 against 154.00 on Thursday’s close. On Thursday,...

SECP holds roundtable to revamp bancassurance regulatory framework

The Securities and Exchange Commission of Pakistan (SECP) held a roundtable to seek stakeholders’ suggestions and recommendations to revamp the 2015 bancassurance regulatory framework to achieve market development, enhance insurance penetration and protect policyholders’ interests. A large number of representatives...

Pakistan Budget 2019-20: Significant proposed amendments

By Ashfaq Tola   Amendments in Income Tax Ordinance, 2001 1. RULES FOR PERSONS NOT APPEARING IN ACTIVE TAXPAYER LIST – TENTH SCHEDULE The bill proposes to abolish the concepts of “Filer” and “Non filer” and has instead introduced rules in form of...

Pakistan Budget FY 2019-20: Income Tax measures

Deatails of income tax measures in the budget FY 2019-20; Relief Measures Payment of refunds through promissory notes Huge amounts claimed by taxpayers are stuck up in refunds causing a liquidity crunch for businesses. These refunds have accumulated over a long time....

Pakistan Budget FY 2019-20: Salient features of Sales Tax and Federal Excise measures

The budgetary measures pertaining to Sales Tax & Federal Excise are primarily aimed at: RELIEF MEASURES 01. Expansion in scope of exemption allowed in respect of Tribal Areas To settle the post FATA/PATA merger scenario and to extend tax exemptions SRO 1212(I)/2018...
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IMF Staff Concludes Visit to Pakistan

An International Monetary Fund (IMF) mission, led by Ernesto Ramirez Rigo, visited Islamabad and Karachi during September 16–20, 2019...
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Whistleblower incriminates the US president

US President Donald Trump comes under pressure for alleged statements in a telephone conversation with a foreign leader. Democratic chairman of the House Intelligence...

Washington shooting: One person killed and 5 wounded in indiscriminate firing

One person was killed and five others were injured by indiscriminate gunfire in the US capital of Washington. REBREAKING¶¶ Gunfire shots heard on the streets of...

Artificial Intelligence can predict El Nino 18 months in advance

Artificial Intelligence achieves feats that we often thought were impossible to achieve. Their ability to analyze data, find patterns, and learn from them is extraordinary. One...

Belgian F-16 crashed near french base, pilot miraculously unhurt despite being trapped in high voltage line

A Belgian F-16 fighter jet has crashed in the city of Morbihan in France, pilot miraculously remain unhurt despite being trapped in high voltage...