FDI in Pakistan drops massive 71.5% in Dec

FDI in Pakistan drops massive 71.5% in Dec

KARACHI: Foreign investment in Pakistan’s economy dropped a massive 71.5% in December, amounting to just $197.4 million from $692.1 million in the same month of 2016, according to data released on Tuesday by the State Bank of Pakistan. December was the first month of the current fiscal year that saw a...

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Tax info exchange with Switzerland to start soon

Tax info exchange with Switzerland to start soon

ISLAMABAD: Pakistan and Switzerland will begin exchanging information from the current month under the Convention on Avoidance of Double Taxation (ADT), the Senate Standing Committee on Finance was informed on Tuesday. However, the said information exchange would only be applicable on future cases. Briefing the committee, FBR Senior Member Inland...

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Rupee’s fall drives food prices higher

Rupee’s fall drives food prices higher

PRICES of food items have started rising in the wake of a recent fall in the rupee’s value, though the price hike has somewhat remained subdued as the depreciation is not accompanied by supply constraints. However, a sharper rise has been noticed in prices of imported food items. From tea,...

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FBR deadline to file income tax today

FBR deadline to file income tax today

ISLAMABAD: The deadline set by the Federal Board of Revenue (FBR) will expire today (December 15). The deadline was extended on November 30 for filing the returns of 2016-17. All those whose annual salary from July 1, 2016 to June 30, 2017 is above Rs.400,000 are required to file their...

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Special Rs50 coins to commemorate the life of Pfau

Special Rs50 coins to commemorate the life of Pfau

The federal cabinet has approved a proposal to issue 50,000 pieces of commemorative 50-rupee coins in honour of the late humanitarian Dr Ruth Pfau. The decision was taken during Wednesday’s cabinet meeting that was chaired by Prime Minister Shahid Khaqan Abbasi. A PM office press release said that the federal cabinet...

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Bitcoin Baby Steps – A Guide to help you enter Bitcoin World

Bitcoin Baby Steps – A Guide to help you enter Bitcoin World

Welcome to the world of bitcoin! Lately there are enough people who ask me for bitcoin. Two years ago I was taken as a joke by most of the people I know and most of the negative comments I received came from ignorance. Today I notice that there is a more mature...

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Paradise Papers: the tax havens of the ultra-rich uncovered

Paradise Papers: the tax havens of the ultra-rich uncovered

An immense new leak of financial documents has revealed how the ultra-rich, including the private patrimony of Queen Elizabeth II, secretly invest vast amounts of money in offshore financial centers, the so-called “tax havens”. The secretary of commerce of Donald Trump appears as a shareholder of a firm that does...

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Bitcoin blasts to new all-time high of $6,450

Bitcoin blasts to new all-time high of $6,450

Bitcoin climbed to a new all-time high of $6,450 on Wednesday, boosted by bets the cryptocurrency could enter the financial mainstream after the world’s largest derivatives exchange operator said on Tuesday it would launch bitcoin futures. CME Group said it would provide a regulated trading venue for the cryptocurrency market...

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Petrol prices increased all across Pakistan by Rs. 2.50

Petrol prices increased all across Pakistan by Rs. 2.50

ISLAMABAD: The government on Tuesday increased prices of all petroleum products by up to 11 per cent with immediate effect for the month of November. The increase was approved by Prime Minister Shahid Khaqan Abbasi who also put an end to the role of the ministry of finance in petroleum...

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Rupee is stable against dollar

Rupee is stable against dollar

Commencing the week on a stable note in the early sessions, the rupee witnessed some corrections against the dollar in the week’s closing sessions. However, it remained largely range-bound on the interbank market due to sluggish dollar demand. On the interbank market, the rupee last week mostly traded range-bound against...

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