‘Dirty gold can still slip into London’ – Business
LONDON: The London Bullion Market Association (LBMA), which sets standards for the worlds most established gold market, needs to do more to exclude gold linked to human rights abuses or criminality from its supply chain, rights groups said on Monday. Refineries vetted by the LBMA still source gold from questionable suppliers and mines and are […]
President to travel in 1st class, PM, services chiefs in business class – Pakistan
• Austerity measures introduced to cut cost on foreign trips• Cabinet members except foreign and commerce ministers restricted to three annual visits, exemptions apply• MNAs, senior bureaucrats allowed business class ISLAMABAD: The cash-strapped federal government on Monday issued a travel advisory for the president, prime minister, chief justice, services chiefs, and bureaucrats among others binding […]
SBP keeps policy rate unchanged at 22pc for sixth consecutive session – Business
The State Bank of Pakistan (SBP) on Monday chose to maintain the status quo by upholding the key policy rate at 22 per cent for the sixth policy meeting in a row. The decision was the first under the newly elected government. It also comes ahead of the International Monetary Fund (IMF)’s last review due […]
The resolve to reform is needed – Business
Finance Minister Muhammad Aurangzeb says his singular agenda is to focus on the implementation of much-needed reforms and to negotiate a new larger deal with the International Monetary Fund (IMF) to pull the economy out of the crisis. “No debates, no waste of time — just a steadfast commitment to implementation,” the former Habib Bank […]
Bidding deadline for airports’ outsourcing extended – Business
RAWALPINDI: The government has decided to extend by two months the deadline for submission of bids for the outsourcing of management and operations of the country’s three major airports following the requests of foreign investors and recommendations of the International Finance Corporation (IFC). The decision was taken at a meeting of the steering committee on […]
Apple reaches $490m settlement over CEO Cook’s China sales comments – Business
Apple agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the US District Court in Oakland, California, and requires approval by US District Judge Yvonne Gonzalez Rogers. It stemmed from […]
Apple reaches $490 million settlement over CEO Cook’s China sales comments – Business
Apple agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the US District Court in Oakland, California, and requires approval by US District Judge Yvonne Gonzalez Rogers. It stemmed from […]
Petrol prices unchanged, diesel slashed for next fortnight – Business
In its first fuel price revision announcement, the newly elected government on Thursday maintained the price of petrol but slashed diesel for the next fortnight. In an announcement before midnight, the Ministry of Finance said the new price of diesel would go into effect on March 16, as recommended by the Oil and Gas Regulatory […]
Petrol prices unchanged, diesel sees cut for next fortnight – Business
In its first fuel price revision announcement, the newly elected government on Thursday maintained the price of petrol but slashed diesel the for the next fortnight. In a late-night announcement, the Ministry of Finance announced the new prices for the next fortnight, starting from March 16, as recommended by the Oil and Gas Regulatory Authority […]
Free Trade Agreement likely in Iran president’s visit to Pakistan: envoy – Business
ISLAMABAD: Iranian Ambassador Dr Reza Amiri Moghadam said on Thursday that a Free Trade Agreement (FTA) is likely to be finalised in the upcoming visit of Iranian President Ebrahim Raisi to Pakistan. Addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI), the Iranian envoy said the FTA would […]