Business

Rice crop is expected to drop by 14% as compared to the last seasonal produce after India has limited water supply.

Consumer electronics giant Sony has seen its valuation drop by 80 per cent over the past decade.

The government has in principle agreed to use explosives to blast boulders blocking the flow of water through Attabad lake.

The just distribution of resources is the responsibility of the state.

The government failed to keep up its promise of restricting inflation to single-digits by the end of the current fiscal year.

Quality not quantity was the gist of chairman Nishat Group, Mian Mohammad Mansha’s message to the United States.

After six months, PIA continues to wait for the new business plan that is expected to pull it out of financial ruin.

News regarding the implementation of the Capital Gains Tax (CGT) dominated proceedings at the Karachi Stock Exchange.

Bankers struggled this week to keep alive the Karachi based company behind one of Pakistan’s prominent food brands.

The World Bank has offered $115 million to the Sui Southern Gas Company for improving infrastructure.

Stocks ended lower on Friday as investors squared their positions amid uncertainty over a capital gains tax.

The price of gold jumped to a fresh peak when it rose by Rs514 to settle at Rs34,028 per 10 grams.

Pakistan this year expects to finalise four wind power deals worth $500 million to exploit a renewable resource.

Finance Minister Abdul Hafeez Shaikh urged political parties to join hands in order to make the country self-reliant.

Foreign exchange reserves fell to $15.71 billion in the week ended June 11, down from $15.87 billion the previous week.

Stocks gained as investors were hoping that the government would agree to some recommendations by brokers.

The Securities and Exchange Commission of Pakistan (SECP) has slashed the fund size for a Real Estate Investment Trust to 60%

Hinopak Motors has announced that it has started exporting vehicles to Middle Eastern and African countries.

The National Assembly Standing Committee on Finance and Revenue has verbally committed a reduction in turnover tax to 0.1%.

Analysts believe that most of the individuals are unused to declaring their brokerage in their annual tax statement.

PSO’s earnings are likely to fall by eight per cent in the coming fiscal year 2011 on the recent revision in oil prices.

The government has undertaken restructuring of Pakistan International Airlines (PIA), Pakistan Railways (PR) and PSM.

Industrialists are considering relocating to other areas because of the security situation around the National Highway.

OPI Gas has announced that the company has purchased 68 per cent shares of Shell Gas LPG (Pakistan) Ltd for $8 million.

The government has overlooked tea smuggling in the budget for 2010-11 and has also increased taxes for legal tea importers.

Stocks ended up on Wednesday amid investor optimism regarding talks between KSE and a parliamentary committee.

Faysal Bank is to acquire 99.37 per cent of RBS Pakistan for Rs4.298 billion ($50.37 million), said RBS on Wednesday.

The Punjab food department has requested the chief minister to provide Rs33 million in subsidies.

SBP has announced that limits sanctioned by banks for individual exporters will continue up to August 31.

Byco Petroleum will soon begin sale of LPG to domestic and commercial consumers, said its President Kalim Siddiqi.

An expected 9% increase in power tariff by July and the government paying Rs41.4b to PSO will clear some of the backlog.

A number of Italian companies belonging to the agriculture sector are ready to initiate joint ventures.

The Senate on Wednesday recommended that the government withdraw one per cent increase in the General Sales Tax (GST).