Friday , 19 January 2018
Breaking

Business

Britain would be less well off after Brexit: OECD

Britain would be less well off after Brexit: OECD

“Brexit is like a tax. It is the equivalent to roughly missing out on about one month’s income within four years,” secretary general Angel Gurria told BBC radio ahead of the publication of an OECD report on the subject. “In comparison with a baseline scenario (of what) they would otherwise have had in their pocket… they will not have it ... Read More »

Ambitious Saudi reforms up against ‘vested interests’

Ambitious Saudi reforms up against ‘vested interests’

The “Vision 2030” plan, unveiled Monday by the kingdom’s powerful Deputy Crown Prince Mohammed bin Salman, aims to transform an economy that has for decades relied mainly on Saudi Arabia’s vast oil resources. At the root of the plan is the sale of less than five percent of state oil giant Saudi Aramco in what officials say will be the ... Read More »

NEPRA cuts power tariff by Rs. 2.84 per unit

NEPRA cuts power tariff by Rs. 2.84 per unit

The cost has been brought down under the head of the fuel adjustment charges for the month of March. Central Power Purchasing Authority (CPPA) has stated that there was a reduction in the electricity production costs in the month of January due to which the power tariff decreased significantly. The revised rates will not be applicable on the customers of ... Read More »

Dar takes notice of hike in prices of pulses

Dar takes notice of hike in prices of pulses

He also sought report from Utility Stores Corporation and Statistics Bureau in this regard. In November last year, Government had announced mini-budget increasing tax on 289 imported items and imposing regulatory duty on 61 products. In meeting demands of International Monetary Fund (IMF), Dar had announced mini-budget, prices of 350 imported items will further be increased. The government announced the ... Read More »

IMF urges Gulf states to adapt to lower oil prices

IMF urges Gulf states to adapt to lower oil prices

In an interview with AFP, IMF regional chief Masood Ahmed also said the oil-exporting Gulf states should press forwards with diversifying their revenue base faced with persistent low crude prices. OPEC heavyweight Saudi Arabia is expected Monday to announce reforms aimed at diversifying its almost total economic reliance on crumbling oil prices. This year will see “a continuation of a ... Read More »

Panama scandal: EU ministers propose measures to curb tax evasion

Panama scandal: EU ministers propose measures to curb tax evasion

“The sense of urgency is definitely much bigger,” said Jeroen Dijsselbloem, the finance minister from the Netherlands that holds the EU’s rotating presidency, on the second day of talks in Amsterdam. “We’ve been (so) very busy competing with each other … that big companies tend not to pay taxes,” said Dijsselbloem who is also head of the Eurogroup of eurozone ... Read More »

Italy says happy 70th birthday to iconic scooter

Italy says happy 70th birthday to iconic scooter

It was on a Vespa that Gregory Peck pursued Audrey Hepburn in “Roman Holiday”, the 1953 film that helped make the marque synonymous internationally with the Roman capital. But it was actually in Florence that the wasp-shaped two-wheeler was born, Enrico Piaggio having registered the patent in the Tuscan capital on April 23, 1946. Seventy years later, more than 18 ... Read More »

CNG prices in Sindh likely to decrease

CNG prices in Sindh likely to decrease

Sources said that that imported Liquefied Natural Gas (LNG) will be sold in the process. The Gas Infrastructure Development Cess on the imported LNG and a decrease in sales tax will occur. According to CNG station owners association said that Ministry for Petroleum and Natural Resources has given the green signal to slash the prices however they are still in ... Read More »

IMF, World Bank, UN unite to fight tax evasion

IMF, World Bank, UN unite to fight tax evasion

The International Monetary Fund, World Bank, United Nations and the Organisation for Economic Co-operation and Development (OECD), announced a joint platform for collaboration on tax issues, a beginning step to design and implement international standards. The announcement came on the heels of the “Panama Papers”, a trove of documents leaked from a Panama law office that showed top international politicians ... Read More »

China spurs ships to use Arctic shipping route: report

China spurs ships to use Arctic shipping route: report

The seaway north of Canada, which could offer a quicker journey from China to the US East Coast than via the Panama Canal or Cape Horn, was sought by European explorers for centuries, including by the doomed Franklin expedition of 1845. Even now it remains ice-bound for much of the year, but global warming and the retreat of Arctic sea ... Read More »