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  • Sitharaman seeks views of Indian start-ups over holding SAARC country meet for start-ups

    June 21, 2017 5:44 AM 2

    New Delhi, June 20 (KNN) Commerce & Industry Minister Nirmala Sitharaman has sought views of Indian start-ups over holding a SAARC country meet for start-ups. While launching the Start-up #India Hub portal here on Monday, Sitharaman revealed the plan to organize a meet of startups of the South Asian region for exchange of new ideas and promoting interaction

  • Oil production slips due to temporary shutdown of Nashpa field

    June 21, 2017 3:17 AM 5

    KARACHI: Pakistan’s oil production dropped slightly in May 2017 after supplies from the single largest field remained temporarily suspended for about two weeks recently, according to a brokerage house on Tuesday. Oil production declined by 1% to an average of 81,570 barrels per day (bpd) in May from 82,677 bpd in the same month of previous year, Topline

  • Power tariff comes down by Rs1.9 per unit

    June 21, 2017 3:10 AM 3

    ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday endorsed a tariff reduction of Rs1.90 per unit for consumers of state-owned power distribution companies for May 2017 under the monthly fuel price adjustment mechanism. However, the tariff cut, under which Rs20 billion are expected to be refunded to the consumers, will not be applicable

  • IFMP, Bahria University sign MoU

    June 21, 2017 12:00 AM 4

    KARACHI: The Institute of Financial Markets Pakistan (IFMP) has signed a memorandum of understanding (MoU) with the Bahria University (BU) for development of curriculum and learning outcomes for a training programme on capital markets, a statement said. A spokesman for IFMP said the institute has been working in close coordination with the Bahria University

  • KMBL opens branches in Gilgit

    June 21, 2017 12:00 AM 4

    KARACHI: Khushhali Microfinance Bank Limited (KMBL) has announced the opening of new branches in Gilgit and Ghakuch for customer financial support areas, a statement said on Tuesday. The launch of these branches is in line with the bank’s commitment to further expand its geographic spread as the pioneer microfinance bank of Pakistan, it added. The two new branches

  • LCCI slams widening trade deficit

    June 21, 2017 12:00 AM 5

    LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has said that rising imports and declining exports are developing a perception that Pakistan is becoming a trading place instead of a hub of industrialisation, a statement said on Tuesday. LCCI acting president Amjad Ali Jawa said that Pakistan’s trade deficit has sharply swelled by around $30 billion

  • Oil production crawls up 3pc

    June 21, 2017 12:00 AM 5

    KARACHI: Pakistan’s oil production crawled up 3.0 percent to average 88,000 barrels/day for 11 months ended May 30, 2017, Topline Securities reported on Tuesday. “Renowned producers like Oil and Gas Development (OGDC), Pakistan Petroleum (PPL) and Pakistan Oilfields (POL) had a more pronounced increase in their production levels during 11 months thanks

  • FBR collects Rs11.31bln from non-filers in July-May

    June 21, 2017 12:00 AM 5

    KARACHI: The Federal Board of Revenue (FBR) collected Rs11.31 billion on non-cash banking transactions by non-filers during the first 11 months of the current fiscal year, a slight two percent fall over the previous year, officials said on Tuesday. FBR secured Rs11.55 billion on non-cash banking transactions by non-filers of income tax returns in the corresponding

  • SBP revises risk management for financial institutions

    June 20, 2017 11:23 PM 4

    State Bank of Pakistan has revised the ‘Guidelines on Outsourcing Arrangements’ with the objective to enable Financial Institutions (FIs) including Banks, Microfinance Banks and Development Finance Institutions to effectively manage the potential risks associated with outsourcing arrangements. The revised instructions are termed as “Framework for Risk Management

  • Spain trade deficit rises 50.5 pct to April y/y – econ ministry

    June 20, 2017 9:07 PM 4

    Spain’s trade deficit rose 50.5 percent in the first four months of the year from the same period a year earlier as rising oil prices pushed up the cost of imports in the country which relies heavily on external energy supplies. Imports rose 12.4 percent, outpacing exports up 9.8 percent from a year earlier, mostly due to rising energy costs, the economy