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  • Mega leather show from 27th

    January 16, 2019 12:00 AM 146

    SIALKOT: The fifth Pakistan mega leather show would be held from January 27 to 29 at the Expo Centre Lahore with the participation of a large number of businessmen from Sialkot. Talking to APP, an official of Pakistan Gloves Manufacturers and Exporters Association (PGMEA) on Tuesday said that the show would motivate the leather businessmen, enhance investors’

  • Singapore imposes $740,000 fines

    January 16, 2019 12:00 AM 148

    Singapore: Singapore´s privacy watchdog on Tuesday imposed fines of Sg$1 million ($740,000) on a healthcare provider and an IT agency over a cyber-attack that saw health records of about quarter of the population stolen. In the city-state´s biggest ever data breach, hackers last year gained access to a government database and made off with the records

  • LTU Karachi collects Rs587bln in first half of 2018/19

    January 16, 2019 12:00 AM 139

    KARACHI: The Large Taxpayers Unit (LTU) Karachi has collected Rs587 billion during the first half (July–December) of the current fiscal year, amid flat growth in sales tax collection, sources said on Tuesday. The unit – the biggest revenue collecting arm of the Federal Board of Revenue (FBR) – posted only two percent growth in the collection of Inland

  • Newmont buys Goldcorp for $10bln

    January 15, 2019 12:00 AM 69

    New York: US gold miner Newmont Mining Corporation said in a statement on Monday it was buying Canadian rival Goldcorp Inc for $10 billion, creating the world´s largest gold mining company.Colorado-based Newmont said it would buy all of Goldcorp´s outstanding common shares in a stock-for-stock transaction, acquiring each share for 0.3280 of a Newmont

  • TPL Properties, Equitativa sign MoU

    January 15, 2019 12:00 AM 70

    KARACHI: TPL Properties has signed a memorandum of understanding (MoU) with Equitativa, the largest Real Estate Investment Trust (REIT) manager in the GCC and manager of Emirates REIT, to form a REIT Management Company (RMC) in Pakistan, a statement said on Monday. Together, Equitativa and TPL Properties will launch real estate investment trusts for the first

  • GST waiver on tractors urged

    January 15, 2019 12:00 AM 65

    LAHORE: Farmer body has asked the government to waive general sales tax (GST) on locally-made tractors and implements, a statement said on Monday. Khalid Mahmood Khokhar, president of the Pakistan Kissan lttehad (PKI) said that agriculture sector, being the backbone of Pakistan's economy, contributes approximately 24 percent to GDP. However, presently

  • Pakistan Citrus Week in Jeddah

    January 15, 2019 12:00 AM 67

    ISLAMABAD: The Commercial Section of the Consulate of Pakistan Jeddah is starting its citrus promotional campaign from January 16 to 23, 2019, a statement received here from Jeddah said. It will include in store promotion and display of citrus at Manuel super store. Besides displaying the products, the tasting campaign will also be held for the visitors

  • Withholding tax collection rises 14 percent to Rs1.128 billion

    January 15, 2019 12:00 AM 64

    KARACHI: The withholding tax collection from non-cash banking transactions has posted 14 percent growth; following introduction of an amendment through the Finance Supplementary Act, 2018. The collection of withholding tax from non-cash transactions, which is applicable only on non-filers of income tax returns, increased to Rs1.128 billion in December

  • ‘Tough IMF conditions unacceptable’

    January 12, 2019 12:00 AM 61

    LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Friday advised the government to avoid tough IMF conditions that would ultimately shrink economy and jack up unemployment, a statement said. LCCI President Almas Hyder said that if IMF funding is necessary than no harmful conditions such as increase in discount rate, more audits for the business

  • Duty-free China markets access urged

    January 12, 2019 12:00 AM 65

    KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has sought duty-free access to Chinese market for exports from the industry setup in Gwadar Free Zone, a statement said on Friday. A delegation led by FPCCI President Daaroo Khan Achakzai called on China Overseas Ports Holding Company (COPHC) Chairman Zhang Baozhong and discussed