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banks

Supertax likely to generate additional Rs200bn

KARACHI: The imposition of one time supertax at 10 percent on big corporates is likely to help the coalition...

Updated 25 Jun, 2022 11:24am

Pakistan

Watch: Finance Minister Miftah Ismail's entire address in National Assembly

Clarifies super tax of 4% will be applicable to all sectors.
For specified 13 sectors, another 6% will be added for a total of 10%
Their tax rates will go from 29% to 39%
This is a one-time tax aimed at curtailing previous four record budget deficits, says Miftah

Published 24 Jun, 2022 02:45pm

Pakistan

Watch: PM Shehbaz Sharif's entire address on 10% super tax on large industries

We intend to tax high income earners so that the entire nation can reap the benefit through education, health, infrastructure, skills education and IT uplift, he says
Tax will be applicable on cement, steel, sugar, oil and gas, fertiliser, LNG, textile, banks, automobile, beverages, chemicals, tobacco and airlines
Collection from this tax will be used to alleviate poverty in Pakistan

Updated 24 Jun, 2022 02:53pm

Pakistan

Super tax a one-time levy, will help narrow budget deficit: Miftah Ismail

Finance minister says tax applicable for FY23, announces reduction in sales tax on large shops

Updated 24 Jun, 2022 05:58pm

Pakistan

PM Shehbaz slaps 10% 'super tax' on large-scale industries

One-time levy to be imposed on cement, steel, sugar, oil and gas, fertiliser, LNG , textile, banking, and automobile sectors among others for FY23

Updated 24 Jun, 2022 05:53pm

Banks: govt mulling raising super tax rate

ISLAMABAD: The Federal Board of Revenue (FBR) will propose “Super Tax” on certain sectors having annual turnover...

Updated 31 May, 2022 10:11am

Business & Finance

Pakistan's Islamic banking sector to have 30% market share by 2026: Moody’s

Estimates average growth over 2021-2026 to range between 25%-28% for total assets and deposits

Updated 24 May, 2022 06:37pm

Opinion

Goldman, JPMorgan among banks left holding Russian stocks by sanctions switch

A decision last month by FTSE Russell and MSCI to remove Russian stocks from their indexes has left some of the...

Published 24 Apr, 2022 05:36am

Technology

Big Tech now regulated like banks, says EU antitrust chief

BRUSSELS: Big Tech companies will be regulated like banks, a top EU official said on Friday, as a new landmark...

Published 28 Mar, 2022 06:21am

Business & Finance

SBP removes transactional limits for Raast app payments

The latest measure to facilitate Raast users will come into effect from April 1

Updated 16 Mar, 2022 02:53pm

World

IMF warns Britain over turning regulators into cheerleaders for finance

LONDON: A push to make London more attractive as a global financial centre after Brexit must not threaten high...

Published 24 Feb, 2022 06:34am

Business & Finance

SBP increases indicative credit limits for agri financing

Says will directly benefit agriculture borrowers

Updated 16 Feb, 2022 06:42pm

Commitment to IMF: Sell-off of 2 RLNG plants, two banks by June

ISLAMABAD: Pakistan has committed to the International Monetary Fund (IMF) that it would complete the process of...

Updated 06 Feb, 2022 09:17am

Business & Finance

Newly-opened, re-designated business accounts: Banks are bound to provide info: FBR

ISLAMABAD: Banks are now bound to provide information of newly-opened or re-designated business bank accounts to the...

Updated 21 Jan, 2022 11:24am

No E-Form for exports to Afghanistan: Banks stop receiving payments in USD, AED remittance form

KARACHI: The local banks have suddenly stopped receiving payments in the form of remittance in USD and AED and...

Updated 15 Jan, 2022 09:43am

PM’s low-cost housing scheme: Considerable increase in borrowing from banks

ISLAMABAD: A meeting of the National Coordination Committee on Housing, Construction and Development was informed...

Updated 07 Jan, 2022 09:45am

Pakistan

A triumphant decade: Pakistan’s banks win the dividend payout race

Performance likely to continue, but recent regulatory push could make the race tougher

Updated 06 Jan, 2022 09:53pm

Markets

Omicron worries pull European shares lower

LONDON: Banks and luxury stocks led declines on Friday, pushing European shares into the red for the week that saw...

Published 20 Dec, 2021 06:29am

Business & Finance

MPMG: Banks receive Rs245bn mortgage finance applications

Mera Pakistan Mera Ghar (MPMG) scheme by banks is getting traction, latest data by State Bank of Pakistan shows

Updated 11 Dec, 2021 03:39pm

Business & Finance

SBP raises banks' cash reserve requirement

Move aimed at containing monetary expansion and moderating domestic demand

Published 13 Nov, 2021 07:28pm

BR Research

T-bill auction: what’s cooking?

The market rates are moving up. The policy rate at current levels was totally disregarded by the market. In the...

Updated 05 Nov, 2021 12:51pm

Business & Finance

Goldman Sachs offers new way for investors to bet on SPACs

NEW YORK: Goldman Sachs Group Inc has come up with a new offering that allows investors to bet on special purpose...

Published 02 Nov, 2021 05:20am

Business & Finance

SBP directs banks, regulated entities to digitise corporate payments

In order to monitor the progress, the SBP has advised banks to submit a roadmap of implementing these measures within 30 days

Published 15 Oct, 2021 04:25pm

Markets

Wall St Week Ahead: Growth? Value? Some investors opt for a bit of both

NEW YORK: Some investors are playing this year's tug of war between so-called growth and value stocks by owning...

Published 20 Sep, 2021 05:23am

High net-worth un-registered persons: Over 200,000 issued notices by FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has issued notices to over 200,000 high net-worth un-registered ...

Updated 15 Sep, 2021 10:08am

Business & Finance

2Q2021: Despite drop in net interest income, Pakistan's banking sector posts Rs70bn profit

Despite the drop in Net Interest Income (NII), Pakistan's banking sector posted profits of Rs70 billion in the ...

Published 30 Aug, 2021 01:37pm

Business & Finance

Sale of third-party products: SBP issues revised instructions for banks

In a bid to improve transparency and safeguard consumers, the State Bank of Pakistan (SBP) on Wednesday, issued a...

Published 25 Aug, 2021 03:32pm

BR Research

Currency: Not in danger zone yet

The pressure on PKR depreciation persists as the currency moved from its recent peak of 152.28 to 165.2 in fourteen...

Updated 25 Aug, 2021 09:57am

Markets

FTSE muted as heavyweight banks reverse course

LONDON: London’s FTSE 100 ended on a quiet note on Tuesday amidst weakness in travel and energy stocks as a jump ...

Published 14 Jul, 2021 03:59am

Business & Finance

Bank deposits show double-digit growth in FY21: report

Pace of increase fastest in 14 years, says Topline Securities

Published 13 Jul, 2021 05:01pm

Gainers
Losers
Leaders

Stock	Price
Premier Insurance / Jun 28 Premier Insurance Limited(PINL)	4.34 ▲ 0.59 (15.73%)
Nazir Cotton Mills / Jun 28 Nazir Cotton Mills Limited(NCML)	5.59 ▲ 0.57 (11.35%)
Pak Gen.Ins. / Jun 28 The Pakistan General Insurance Co. Ltd.(PKGI)	9.98 ▲ 1.00 (11.14%)
K-Electric Ltd. / Jun 28 K-Electric Limited(KEL)	3.12 ▲ 0.26 (9.09%)
P.I.A.C.(A) / Jun 28 Pakistan International Airlines Corp(PIAA)	3.63 ▲ 0.29 (8.68%)
Sec. Inv. Bank / Jun 28 Security Investment Bank Limited(SIBL)	5.95 ▲ 0.45 (8.18%)
Bankislami Pak. / Jun 28 BankIslami Pakistan Limited(BIPL)	11.73 ▲ 0.86 (7.91%)
786 Invest Ltd / Jun 28 786 Investments Limited(786)	5.38 ▲ 0.39 (7.82%)
Leather Up Ltd. / Jun 28 Leather Up Limited(LEUL)	13.35 ▲ 0.95 (7.66%)
JS Bank Ltd / Jun 28 JS Bank Limited(JSBL)	4.00 ▲ 0.28 (7.53%)

Stock	Price
Oilboy Engergy (R) / Jun 28 Oilboy Engergy Limited (R)(OBOYR1)	0.65 ▲ -0.52 (-44.44%)
Jubilee Spinning / Jun 28 Jubilee Spinning & Weaving Mills Ltd.(JUBS)	3.20 ▲ -0.85 (-20.99%)
Kohinoor Power / Jun 28 Kohinoor Power Company Limited(KOHP)	3.41 ▲ -0.52 (-13.23%)
Power Cem(Pref) / Jun 28 Power Cement (Pref)(POWERPS)	6.51 ▲ -0.99 (-13.20%)
Sitara Energy / Jun 28 Sitara Energy Limited(SEL)	9.10 ▲ -1.00 (-9.90%)
Elite Cap.Mod / Jun 28 First Elite Capital Modaraba(FECM)	3.17 ▲ -0.33 (-9.43%)
First IBL Mod. / Jun 28 First IBL Modaraba(FIBLM)	4.10 ▲ -0.40 (-8.89%)
Tri-Star Power / Jun 28 Tri-Star Power Limited(TSPL)	3.45 ▲ -0.33 (-8.73%)
Quetta Textile / Jun 28 Quetta Textile Mills Limited(QUET)	7.39 ▲ -0.61 (-7.63%)
Metro Steel / Jun 28 Metropolitan Steel Corporation Limited(MSCL)	23.11 ▲ -1.87 (-7.49%)

Stock	Volume
K-Electric Ltd. / Jun 28 K-Electric Limited(KEL)	29,612,000 ▼ 0.00
Treet Corp / Jun 28 Treet Corporation Limited(TREET)	19,925,500 ▼ 0.00
Pak Refinery / Jun 28 Pakistan Refinery Limited(PRL)	11,634,090 ▼ 0.00
TPL Properties / Jun 28 TPL Properties Limited(TPLP)	11,504,099 ▼ 0.00
Cnergyico PK / Jun 28 Cnergyico PK Limited(CNERGY)	11,010,799 ▼ 0.00
WorldCall Telecom / Jun 28 Worldcall Telecom Limited(WTL)	8,949,000 ▼ 0.00
Maple Leaf / Jun 28 Maple Leaf Cement Factory Limited(MLCF)	7,027,769 ▼ 0.00
Telecard Limited / Jun 28 Telecard Limited(TELE)	6,298,000 ▼ 0.00
Oilboy Engergy (R) / Jun 28 Oilboy Engergy Limited (R)(OBOYR1)	6,064,000 ▼ 0.00
Unity Foods Ltd / Jun 28 Unity Foods Limited(UNITY)	5,746,295 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 24	207.70
USD PKR Interbank Buying / Jun 24	207.50
USD to Japanese Yen / Jun 24	135.23
USD to Swiss Franc / Jun 24	0.96
Pound Sterling to USD / Jun 24	1.23
Euro to USD / Jun 24	1.06
UK LIBOR % / Jun 24	1.57

Stock	Volume
S&P 500 / Jun 24	3911.74
India Sensex / Jun 24	52727.98
Tokyo Nikkei / Jun 24	26491.97
Nasdaq / Jun 24	11607.62
Hang Seng / Jun 24	21719.06
FTSE 100 / Jun 24	7208.81
Dow Jones / Jun 24	31500.68
Germany DAX 30 / Jun 24	13118.13
France CAC40 / Jun 24	6073.35

Item	Value
Crude Oil USD/Barrel / Jun 24	107.62
Karachi Cotton PKR/37.32 KG / Jun 24	21180.00
Gold 10 Grams PKR / Jun 24	122300.00
Gold Spot USD/Ounce / Jun 24	1826.88
Cotton US¢/pound / Jun 24	98.05

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