Return of income Tax: Prosecution for company failing to furnish info proposed ISLAMABAD: The government has proposed prosecution for any company including banks and association of persons (AOPs)... Published 13 Jun, 2024 06:22am
Business & Finance SME sector: SBP directs banks to adopt DSCF solutions KARACHI: The State Bank of Pakistan (SBP) has instructed the banks to adopt Digital Supply Chain Finance (DSCF)... Published 12 Jun, 2024 06:51am
Technology Banks say growing reliance on Big Tech for AI carries new risks AMSTERDAM: The boom in artificial intelligence will increase banks’ dependence on big US tech firms, creating new... Published 10 Jun, 2024 06:52am
Print WHT on cash withdrawals: PM rejects another key revenue step of FBR ISLAMABAD: Prime Minister Shehbaz Sharif has rejected another key revenue measure of the Federal Board of Revenue... Updated 07 Jun, 2024 12:54pm
Print Non-filers: FBR proposes WHT raise on cash withdrawal from banks ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to raise withholding tax on cash withdrawal from the... Updated 16 May, 2024 11:50am
Business & Finance Banks slow to limit coal financing: NGO FRANKFURT, (Germany): Banks lent almost $470 billion to the coal industry between 2021 and 2023, according to a ... Published 03 May, 2024 06:29am
Business & Finance Oman Housing Bank selects Temenos for core banking upgrade KARACHI: Oman Housing Bank has selected Temenos to modernise its core banking capabilities in the cloud. With... Published 06 Apr, 2024 05:28am
Business & Finance PIA’s commercial debt negotiations: Govt, domestic lender banks successfully conclude ISLAMABAD: The commercial debt negotiations of Pakistan International Airlines Corporation Limited (PIACL) have been... Published 30 Mar, 2024 05:30am
Markets Banks and industrial stocks lift Dubai, Abu Dhabi falls DUBAI: Dubai’s main share index closed higher on Friday, boosted by gains in banking and industrial sector stocks... Published 30 Mar, 2024 04:58am
Print Banks asked to ensure lending to priority sectors KARACHI: The Federal Minister for Finance and Revenue, Muhammad Aurangzeb on Friday asked banks for lending to... Updated 30 Mar, 2024 02:21pm
Business & Finance Taxpayer gets reimbursed amount recovered from his bank account LAHORE: Due to the tax authorities’ failure to specify a reasonable payment timeframe, a corporate taxpayer... Published 19 Mar, 2024 04:53am
Print SBP revises timelines for Banks’ Floating Exchange Rates KARACHI: The State Bank of Pakistan (SBP) has revised the timelines for submission of data of Banks’ Floating... Updated 29 Feb, 2024 08:50am
Print Conduct of business of banks: FTO has no jurisdiction to probe legality: IHC ISLAMABAD: The Islamabad High Court (IHC) has declared that the Federal Tax Ombudsman (FTO) cannot assume the powers... Updated 28 Feb, 2024 09:19am
Business & Finance (MRTs)/(MRCs), GMs: HBL delineates deferred compensation policy KARACHI: Habib Bank Limited (HBL) has informed that in accordance with the Risk Aligned Remuneration Policy of the... Published 07 Feb, 2024 05:30am
Pakistan Election day: banks to remain closed on February 8 Banks in Pakistan will remain closed on Thursday, February 8 on account of it being election day, the State Bank of... Updated 06 Feb, 2024 08:28pm
Business & Finance CY23: Soneri Bank posts 222.61pc growth in PAT YoY LAHORE: The Board of Directors of Soneri Bank Limited, in their 202nd meeting held in Lahore on Wednesday, approved... Published 01 Feb, 2024 04:52am
Business & Finance New banknotes: SBP says process to take 2 years KARACHI: The State Bank of Pakistan (SBP), initiating the process for designing and issuing a new banknotes series ... Published 31 Jan, 2024 05:22am
Business & Finance SIFC EC reviews various policy-level initiatives ISLAMABAD: The eighth session of the Executive Committee of Special Investment Facilitation Council (SIFC) started ... Published 25 Jan, 2024 04:23am
Business & Finance Collection of govt receipts, taxes: Bank branches to remain open today, tomorrow KARACHI: The State Bank of Pakistan (SBP) has announced opening of concerned branches of all banks for collection of... Published 30 Dec, 2023 06:28am
Business & Finance Internal control lapses: Rs90m penalties on erring banks termed ‘peanuts’ ISLAMABAD: The State Bank of Pakistan (SBP) has imposed penalties of Rs90 million on different banks and ... Published 20 Dec, 2023 06:00am
Print ‘Handling complaints of aggrieved persons’: President sets aside order of Banking Mohtasib ISLAMABAD: President Dr Arif Alvi has set aside an order of Banking Mohtasib Pakistan and directed the Mohtasib to... Updated 11 Dec, 2023 09:48am
Print ‘Illegal’ LCs, forex market speculation: MoF set to share list of banks with SIFC today ISLAMABAD: The Finance Ministry is all set to share the list of banks involved in illegal business relating to LCs... Updated 07 Dec, 2023 09:49am
Business & Finance Banks could face rules on climate risk reporting BASEL (Switzerland): The international bank regulatory body on Wednesday launched a process to develop rules for... Published 04 Dec, 2023 05:35am
Print DPC proposes ‘appropriate’ changes in statute KARACHI: The Deposit Protection Corporation (DPC) has proposed “appropriate” changes in its statute to enhance its... Updated 02 Dec, 2023 03:53pm
Business & Finance Banks get carbon emissions standard they sought for stock, bond deals LONDON: Banks will need to account for a third of the emissions linked to their capital markets deals when they... Published 02 Dec, 2023 05:09am
Print LHC, too, suspends SRO about tax on banks’ windfall income ISLAMABAD: The Lahore High Court (LHC) has also suspended the SRO 1588(I)/2023 of the Federal Board of Revenue (FBR)... Updated 01 Dec, 2023 09:50am
Business & Finance Solar panel importers: Banks penalised for failing to check money laundering, over-invoicing ISLAMABAD: The State Bank of Pakistan (SBP) has imposed penalties on certain banks for not checking massive money... Published 30 Nov, 2023 04:53am
World European countries differ over windfall taxes on banks STOCKHOLM: Some European countries have imposed windfall taxes on banks’ profits to help fund their response to ... Published 20 Nov, 2023 06:28am
Business & Finance Cabinet approves levy of 40% tax on banks’ windfall profit earned during 2021-22 The federal cabinet on Wednesday accorded approval to impose 40% tax on windfall profit earned by banks on the... Published 15 Nov, 2023 10:20pm
Print Forex deals: Tax on windfall profits of banks likely ISLAMABAD: The government is likely to invoke provisions of the Finance Act, 2023, to impose tax on windfall... Updated 15 Nov, 2023 09:49am