After enjoying a long period of abundance and prosperity, Saudi Arabia is all set to see its fortune diminishing in the near future due to a drastic fall in crude prices. Reflecting this scenario, it announced a record budget deficit and cuts in fuel and
On January 1, the Voluntary Tax Compliance Scheme (VTCS) the Prime Minister announced was a New Year gift for the trader community and also earned a "gold medal there for, but since VTCS will amend the Income Tax Ordinance, and therefore require parliamen
Unnamed Americans have contacted Iran for a deal to swap Washington Post reporter Jason Rezaian, convicted and jailed in Iran on spying charges, for other unspecified detainees, according to a senior Iranian official quoted on Sunday.
Vietnam will announce a central rate for the dong/dollar each day starting from Monday, shifting from a fixed rate of 21,890 dong/dollar to allow more flexibility, the central bank said on Sunday.
Bangladesh's foreign exchange reserves hit a record $27.49 billion at the end of December, the central bank said on Sunday, fuelled by steady exports and remittances. The slower pace of import growth, on the back of a fall in global commodities prices, al
Clydesdale Bank Plc said it planned to go ahead with its listing on the London Stock Exchange and the Australian Securities Exchange as part of its demerger from National Australia Bank Ltd.
Emerging market companies with debt in dollars and revenue in sinking local currencies could struggle as the US Federal Reserve begins what is expected to be a series of interest rate increases after years of easy money policies.
Emerging market companies with debt in dollars and revenue in sinking local currencies could struggle as the US Federal Reserve begins what is expected to be a series of interest rate increases after years of easy money policies.
The Hong Kong stock exchange (HKEx) is strengthening its environmental, social and governance reporting guidelines for listed companies in a bid to beef up corporate governance in the financial centre. The new requirements were a result of a consultation
Deutsche Bank has agreed to sell its entire 20 percent stake in Beijing-based Hua Xia Bank to Chinese insurer PICC Property and Casualty Co - a deal worth up to $4 billion that will help lift its capital ratios. Deutsche Bank, which has embarked on drasti
Indonesia will start trading bond futures as early as the first quarter of 2016 and introduce new rules for foreign venture capitals, officials at the Financial Services Authority (OJK) said on December 30.
Indonesia will start trading bond futures as early as the first quarter of 2016 and introduce new rules for foreign venture capitals, officials at the Financial Services Authority (OJK) said on December 30.
Not only is the 'block' that constitutes honest taxpayers plausibly angry at the 'amnesty' granted to traders under the Voluntary Tax Filing Scheme (VTFS), country's political opposition has also strongly reacted to the government's controversial move. Ne
All-round gains witnessed on the money market as the rupee managed to pick up versus the dollar during the week-ended on January 2, 2016. In the interbank market, the rupee appreciated by 20 paisas in relation to the dollar for buying and selling at Rs 10
All-round gains witnessed on the money market as the rupee managed to pick up versus the dollar during the week-ended on January 2, 2016. In the interbank market, the rupee appreciated by 20 paisas in relation to the dollar for buying and selling at Rs 10
The Hi-Tech Lubricants Limited plans to set up a state-of-the art blending plant in Lahore which is expected to begin in the first quarter of February this year. Company Chairman Shaukat Hassan speaking with Business Recorder on Saturday said the p
Some 189 Pakistanis imprisoned in Indian jails, have gone missing, according to lists of nationals exchanged by Pakistan and India on the first day of New Year. Pakistan and India on Friday exchanged through diplomatic channels simultaneously in New Delhi
German Interior Minister Thomas de Maiziere said on Saturday closer cooperation with foreign security services was needed after a New Year's Eve security alert in Munich highlighted fears about an attack on German soil. Shortly before midnight on December
Shipping companies that transport commodities such as coal, iron ore and grain face a painful year ahead, with only the strongest expected to weather a deepening crisis caused by tepid demand and a surplus of vessels for hire. The predicament facing firms
China's foreign exchange regulator said on Thursday it will step up checks on individuals' foreign currency buying, in its latest step to curb capital outflows. The State Administration of Foreign Exchange (SAFE) will launch a new system to monitor foreig
Saudi Arabian foreign exchange and credit default swap markets have held steady since the kingdom released its state budget this week, suggesting Riyadh has at least partially convinced investors it can get its finances under control. The 2016 budget anno
Canadian equities will gain nearly 10 percent next year but will not come close to where they finished 2014 as slumping energy prices and a weak economic outlook has prompted strategists to lower their outlook, a Reuters poll found. The poll showed Toront
Investors pumped $10 billion into US-based stock funds in the week that ended December 30, Lipper data showed on Thursday, demonstrating a willingness to take on risk at the end of a year that has delivered slim gains to financial markets. Funds tracking
Investors pumped $10 billion into US-based stock funds in the week that ended December 30, Lipper data showed on Thursday, demonstrating a willingness to take on risk at the end of a year that has delivered slim gains to financial markets. Funds tracking