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October 17, 2018 12:00 AM Money laundering case against Zardari, Faryal adjourned

KARACHI: The money laundering case against former president and sitting Co-chairman of Pakistan People’s Party (PPP) Asif Ali Zardari, his sister and PPP leader Faryal Talpur, Hussain Lawai, Anwar Majeed and others, was adjourned to November 13, as the judge of the special banking court was on a three day leave to Islamabad. All the accused including

October 14, 2018 12:00 AM Draghi points to asset repricing

NUSA DUA, Indonesia: European Central Bank policy is working as intended and the biggest risks to the policy outlook are a sharp repricing of assets or a sudden rise in interest rates, ECB President Mario Draghi said on Saturday. He said that specific risks include lingering stability issues in the banking sector or a surprising increase in inflation 5

October 10, 2018 12:00 AM DIBPL posts 65pc growth in profit

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) profits increased 65 percent to Rs1,853 million in the nine-month period ended September 30, 2018, up from Rs1,121 million in the corresponding period. DIBPL in its recent board meeting held in Dubai, approved the condensed interim financial statements of the bank for the nine months period, declaring

October 3, 2018 12:00 AM Expats purchasing property for business to be taxed

ISLAMABAD: While the PTI government has announced that non-filer overseas Pakistanis will be allowed to purchase property and cars in Pakistan and ban on other non-filers will not be lifted, the prime minister’s spokesman says expatriates purchasing property for business purposes will also be brought in the tax net. “FBR will be continuously monitoring

September 27, 2018 12:00 AM Bank accounts with Rs10mln monthly deposit on FBR radar

KARACHI: The Federal Board of Revenue (FBR) nudged banks into furnishing details of accounts that are fed with Rs10 million or more in a month, aiming at to broaden the tax base, officials said on Wednesday. The tax officials said the FBR directed all the banks to provide details of accounts that were credited with Rs10 million or above in a month. They said the FBR, in an official 2

September 24, 2018 12:00 AM NCA acted on FIA claim Junejo laundered Rs180-250m from Pakistan

LONDON: Pakistan’s Federal Investigation (FIA) got former government official Farhan Junejo arrested by the National Crime Agency (NCA) on the basis of claims that the former aide of Makhdoom Amin Faheem allegedly laundered around Rs180 to Rs250 million out of Pakistani into his overseas accounts through “corruption and corrupt practices”. The News has obtained

September 19, 2018 7:38 AM Asia Cup 2018: Pakistan favourite to win against India, says Sunil Gavaskar

NEW DELHI: Indian cricket great Sunil Gavaskar picked Pakistan as favourites in Virat Kohli’s absence on Wednesday ahead of their Asia Cup group stage clash in Dubai. The last time the two arch-rivals played what is always an emotionally charged fixture -- the final of the Champions Trophy last year -- Pakistan thrashed India by 180 runs. On Tuesday 7

September 19, 2018 12:00 AM Halal products fair on Sept 29

ISLAMABAD: The exhibition of Halal products will be held in Dubai on September 29. In the exhibition, companies which are making dairy products, frozen vegetables, bakery products, seafood, and ice cream will showcase their products. Halal Expo Dubai is the largest and only dedicated exhibition focusing on all aspects of Halal products and services 3

September 17, 2018 12:00 AM Saudi Arabia to auction tycoon’s real estate assets

RIYADH: Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters. Sanea, ranked by Forbes in 2007 as one of the world’s 100 richest people, was detained last year for unpaid debts dating back to 2009 when his company 4

September 14, 2018 12:00 AM Former WB official named BoI chair

ISLAMABAD: Haroon Sharif, an eminent economist and former World Bank official, has been appointed as the chairman of the Board of Investment (BoI). A decision to this effect was taken by the federal cabinet that met here with Prime Minister Imran Khan in chair. Haroon Sharif holds vast experience of banking, investment and has been associated with the Securities 3