ISLAMABAD :The Federal Board of Revenue (FBR) is examining a budget proposal to increase withholding tax on cash withdrawal from banks from fiscal year 2008-09.
HYDERABAD: The incorrect policies of Wapda, relating to release of irrigation water, caused losses of billions of rupees to Sindh agriculture as it led to late sowing of rice and cotton crops, the organisation of growers said here.
It said that despite the decisions of Indus River System Authority (Irsa), Wapda discharged water prior to the […]
ISLAMABAD: The Ministry of Food, Agriculture and Livestock (Minfal) has recommended introduction of two Bt cotton varieties for general cultivation as sowing of unauthorised varieties is continuing, and the provinces are least equipped to stop this illegal exercise.
Sources told Business Recorder on Sunday that the Centre of Excellence for Molecular Biology (CEMB), Punjab University, has […]
KARACHI: The sacked president Bank of Punjab (BoP) Hamaish Khan and other high officials of the bank were arrested by law enforcement agencies on Sunday night, Aaj TV channel reported. Quoting bank sources, the channel said that ex-president of BoP Hamaish Khan, general manager Azizul Hamid were arrested from their residences in Cavalry Ground and […]
MADRID: Tha Asian Development Bank (ADB) has so far given the green light to provide Pakistan with about one billion dollars (648 million euros) in loans this year, a senior bank official said Sunday in Spain.
“These are not new loans, they are disbursements on existing loans,” Juan Miranda, ADBs Director General for Central West Asia, […]
LAHORE: Malaysias biggest financial bank Maybank is expected to announce acquisition of 15 percent shareholding of MCB Bank Limited on Monday morning, according to local banking sources. The chairman and directors of MCB Bank held a dinner in Lahore in honour of chairman and directors of Maybank on Saturday. Business Recorder, 2008
LAHORE: The Lahore High Court will take up on Monday a petition filed against the government wheat procurement policy. The petition says that the government should also allow flour mills and grain merchants (Ahrtees ) to purchase wheat so that the farmers could get better and competitive price of their produce.
Petition wheat grower Mohammad Farooq […]
SINGAPORE: The dollar was lower against the euro and yen on Monday after gains last week partly on better-than-expected US job figures, dealers said.
In morning trades, the dollar changed hands at 105.29 yen from 105.39 yen late Friday. Volumes were light with the Tokyo markets closed Monday and Tuesday for holidays.
The euro was at 1.5447 […]
SINGAPORE: World oil prices were slightly lower in Asian trade on Monday after fresh unrest in Africas biggest crude producer, Nigeria.
New Yorks main oil futures contract, light sweet crude for June delivery, was 13 cents lower at 116.19 dollars per barrel.
The benchmark contract rallied 3.80 dollars to close at 116.32 dollars on Friday at the […]
ISLAMABAD: The Gulf state of Qatar would hire 30,000 skilled and semi-skilled workers from Pakistan this year. In this regard, an additional protocol has been signed pertaining to the existing labour agreement, which was inked between the two countries in 1987 to regulate export of manpower to Qatar.
The agreement was signed by Federal Minister for […]