Category: Business

ISLAMABAD, Sep 19 (APP): The Central Directorate of National Savings (CDNS) collected Rs.36 billion against revised target of Rs 228 billion by September 5, during current fiscal year (2016-17). The National Savings has set the target for year 2016-17 at Rs 228 billion, a senior official of CDNS told APP on Monday. Replying to a… Continue reading CDNS collects Rs.36 bln by September 5 in current fiscal year

ISLAMABAD, Sep 19 (APP): Ministry of Textile Industry has started a training programme for cotton growers about pest control and crop management to enhance the cash crop output in the country. About 5,000 progressive farmers and workers of field extension departments of the provincial agriculture departments would be trained initially about the pest control and crop management, said Cotton… Continue reading MinTex starts pest, crop management training programme for cotton growers

ISLAMABAD, Sep 17 (APP): The Oil and Gas Development Company (OGDCL) has produced around 59,692,454 bbl (barrel) crude oil, 86,482,196 mcf (million cubic feet) natural gas amounting to Rs 520.538 billion from its different operational fields of Khyber Pakhtunkhwa during last 17 years. “The company produced 15,567,543 bbl crude, 29,626,201 mcf natural gas and 43,671… Continue reading OGDCL produced Rs 520.538 bln crude oil, natural gas from KP

NEW YORK, Sept 17 (APP/AFP) – US and European stock markets retreated on Friday, as banking shares led by Deutsche Bank slumped on news US authorities were hunting down Germany’s biggest lender over a record fine. Frankfurt’s DAX 30 was the hardest hit, closing down 1.5 percent, while the Paris CAC 40 shed nearly 1.0 percent from… Continue reading US, European stocks weighed down by banking woes

KARACHI, Sep 16 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates: Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. 104.40 104.20 103.99 U.K. 138.17 137.90 137.62 EURO 117.34 117.11 116.87 CANADA 79.38 79.23 79.02 SWITZERLAND 107.40 107.19 106.91 AUSTRALIA 78.46 78.31 78.11 SWEDEN 12.30 12.28… Continue reading NBP Exchange Rates

ISLAMABAD, Sep 16 (APP): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that Eid economy has been expanding in the country as over Rs 200 billion were transacted from urban centres to rural areas during the Eid-ul-Azha. “The expansion of Eid economy is a very good omen for farmers and rural areas,”… Continue reading Over Rs 200 billion shifted to rural areas on Eid: FPCCI

ISLAMABAD, Sep 15 (APP): Pakistan has made impressive economic gains in the last three years, characterized by macroeconomic stability, fiscal discipline, sustained growth rate, and record breaking performance of its stock market. “Pakistan can maintain high growth rates in the coming years with continuation of current policies. The achievements in the war against terrorism are… Continue reading France willing to bolster trade, economic ties with Pakistan: Sapin

ISLAMABAD, Sep 15 (APP): Pakistan’s equity market has been outperforming China’s and India’s markets by a big margin in recent years. In the last twelve months, Global XMSCI MSCI +% Pakistan ETF was up 20%, beating India’s and China’s comparable ETF’s by almost two to one, according to an article published in Forbes an American business magazine, published… Continue reading Pakistan’s equity market outperforming China’s, India’s markets: Forbes Contributor

ISLAMABAD, Sep 15 (APP): The Securities and Exchange Commission of Pakistan (SECP) during August registered 613 new companies, showing an increase of 51 percent as compared to the same month of the preceding year. A growing trend in company incorporation is the direct result of numerous facilitation measures taken by the SECP. Around 90 percent… Continue reading SECP registered 613 companies in August

ISLAMABAD, Sep 15 (APP): Air pollution has emerged as the deadliest form of pollution and the fourth leading risk factor for premature deaths worldwide. Those deaths cost the global economy about US$ 225 billion in lost labor income in 2013, a new study finds, pointing toward the economic burden of air pollution, a World Bank… Continue reading Air Pollution deaths cost global economy US$ 225 bln: WB

KARACHI, Sept 15 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Thursday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 1.2500 15.09.16 CONVERSION RATES FOR 15TH SEPTEMBER 2016… Continue reading Foreign exchange rates

KARACHI, Sept 15 (APP): The total liquid foreign reserves held by the country stood at US$ 22,858.4 million on September 9, 2016. This was stated in an announcement of the State Bank of Pakistan (SBP) here on Thursday. It said that the break up of the foreign reserves position is as under: i) Foreign reserves held… Continue reading Pakistan’s Liquid Foreign Reserves Position

ISLAMABAD, Sep 14 (APP): Finance Minister Senator Muhammad Ishaq Dar on Wednesday said Pakistan had introduced tough and deep rooted financial fiscal and economic reforms that have paid dividends. Ishaq Dar stated this while addressing the participants of the forum of the foundation of strategic research on economic turnaround of Pakistan at Paris (France), according… Continue reading Pakistan’s financial fiscal, economic reforms paid dividends: Dar

ISLAMABAD, Sept 12 (APP): Pakistan’s high end textile products displayed artistically were viewed and appreciated by thousands of participants, visitors and business persons in the 39th Edition of four-day Texworld Exhibition being held in Paris, France from Monday. Cotton and cotton based high end products, including apparels, garments and finished and unfinished associated products, displayed by… Continue reading Pakistani textile products emerge favourite in Paris

SIALKOT, Sept 12 (APP)-President Sialkot Chamber of Commerce and Industry (SCCI) Mansoor Ahmed has urged the government to take appropriate steps for setting up Special Economic Zone in favour of higher exports volume. Talking to APP on Monday,he said that business community was ready to play its vibrant role for enhancing exports, adding Special Economic Zone… Continue reading Special Economic Zone for Sialkot stressed

ISLAMABAD, Sep 10 (APP): Finance Minister, Senator Mohammad Ishaq Dar Saturday wrote letters to the ministers of nine countries inviting them to attend the 15th CAREC Ministerial Conference. The 15th CAREC (Central Asia Regional Economic Cooperation) Ministerial Conference is scheduled to be held in Islamabad on 25th-26th October 2016. The CAREC would brings together ten… Continue reading Dar invites ministers of various countries for CAREC conference

ISLAMABAD, Sept 10 (APP): Minister for Finance Senator Muhammad Ishaq Dar Saturday left for Paris to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters with Organization of Economic Cooperation and Development (OECD). The agreement will be signed on September 14. The OECD has representation of 100 countries. The Finance Minister, in a statement,… Continue reading Dar leaves for Paris to ink agreement with OECD