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Persisting political uncertainty, non-quantification of flood damage as yet, an unexpected slowdown in privatisation proceeds, non-inflow of foreign exchange from Sukuk as well as a delay in the receipt of a scheduled tranche from the International Monetary Fund (IMF) were the major factors that forced the State Bank of Pakistan to keep the policy rate unchanged at 10 percent.

The Federal Board of Revenue (FBR) witnessed a sharp decrease in the number of companies that issued bonus shares in 2014 to avoid payment of a 5 percent tax imposed through the Finance Act, 2014. Sources told Business Recorder here on Saturday that the FBR is compiling data of the corporate sector on issuance of bonus shares to shareholders. So far, the FBR has observed a decline in trend of bonus shares issuance to shareholders on the imposition of a 5 percent tax on these shares under Finance Act 2014.
A delegation headed by Pakistan Indus Basin Commissioner Mirza Asif Baig will leave for India today (Sunday) as India approved site inspection of the 140 megawatt Miyar Powerhouse on the River Chenab in Indian-occupied Kashmir. According to the Ministry of Water and Power, the delegates from Pakistan will at first reach New Delhi and later proceed to Kashmir. Changing the route of the Miyar Valley associated with the River Chenab, the site inspection of 140 megawatt powerhouse would continue from September 21 to 24.
Over-billing of electricity bills to recover appallingly high distribution losses could compel people to support Pakistan Tehreek-e-Insaf's call for non-payment of electricity bills, a survey by Business Recorder reveals. According to president Supreme Court Bar Association (SCBA) Kamran Murtaza, Imran Khan's act of burning Wapda electricity bills cannot be termed civil disobedience. Power consumers have already started venting their anger through protests in various parts of the country.
As a result of a Rs 18.5 billion financial package approved by the ECC for the revival of Pakistan Steel Mills, its regular production has since been gaining momentum. The production capacity of the country's premier steel production unit, has now risen to 25 percent from a paltry 3 percent in May 2014. The CEO, Pakistan Steel, Major General Zaheer Ahmed Khan (Retd), briefed the Federal Minister for Finance Ishaq Dar about the progress of Pak Steel at a review meeting here on Saturday.
Water level is continuously rising in River Indus at Sukkur Barrage. A water torrent of 400,000 to 500,000 cusecs is expected to pass through Sukkur Barrage in the next 24 hours. Currently, water inflow at Sukkur Barrage is recorded at 340,792 cusecs while outflow is 252,697 cusecs. Kotri Barrage is receiving 99,854 cusecs while outflow is 56,958 cusecs.
The number of death due to floods in Azad Jammu and Kashmir and Pakistan climbed to 346, as the National Disaster Management Authority Saturday reported the deaths of 20 more people in Punjab of which 12 are in Faisalabad division and six in Gujranwala division. According to authority, floods have so far devastated 3,409 villages and 2.5 million acres of cropped area in Punjab, Azad Kashmir, Sindh and Gilgit-Baltistan (GB) forcing thousands of people to take shelter in relief camps.
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln