Business Archives - Page 27 of 41

Pakistan repay $1 billion international Sukuk bonds

8Dec

By Muhammad Dastageer ShamsNo Comments

Business

Pakistan repay $1 billion international Sukuk bonds

The State Bank of Pakistan (SBP) announced that it would repay $1 billion in international Sukuk (Islamic bonds) on December 2. The State Bank made the announcement on Friday. The Pakistan bank is all set to repay the international amount three days before the due date of maturity. Although the state bank had already paid $1.8 billion in full for the current month alone against foreign obligations. SBP Governor Jameel Ahmed briefed a few analysts after the Monetary Policy announcement. He said that the nation has been making regular payments to foreign creditors. Moreover, he said that he is confident that there would be no obstacles to the repayment of the nation's foreign debt. An attendee senior analyst said that the earlier payment may be in the processing for clearance of the ...

“Earn to give” FTX crypto company got bankrupt, the Biggest crypto scam fraud in history

17Nov

By Muhammad Dastageer ShamsNo Comments

Business

“Earn to give” FTX crypto company got bankrupt, the Biggest crypto scam fraud in history

FTX crypto company is going to file for bankruptcy. According to reports the FTX crypto trading company “Earn to give” is out of business after the resignation of its CEO. The CEO, Sam Bankman-Fried resigned recently due to the company’s recent losses. The company is now initiating bankruptcy applications in the United States. The shutting down of this company has resulted in the most significant scam fraud case in crypt trading history. According to reports, millions have lost money invested within this company. The company made the announcement of shutting down through its Twitter handle. The company was in the process of selling its shares out to other crypto trading platforms. Major crypto platforms such as Binance were in process of acquiring this company. However, Binance w...

Is there any scope for E Commerce in Pakistan?

27Oct

By Muhammad Dastageer Shams2 Comments

Business

Is there any scope for E Commerce in Pakistan?

For decades Pakistan did not even enter the race of technology and e-commerce. There are multiple reasons for this including political instability, poor leadership, an outdated education system, and many more. However, the previous decade has changed this perspective quite a bit. The world is starting to visualize the real potential of Pakistan's IT industry. The past decade proved to be a major breakthrough for Pakistan in terms of IT growth and world recognition. However, the International trade association still considers Pakistan to be a cash-based informal economy. This means, according to the international trade association, most of the transactions are made with cash in Pakistan. Still, the rise of e-commerce in this type of economy surprises everyone. Pakistan's market started ...

Pakistan’s Seafood Exports jump 52% to $37.9 million in July-August

3Oct

By Azmat Shabbir1 Comment

Business

Pakistan’s Seafood Exports jump 52% to $37.9 million in July-August

During the first two months of the current financial year, Pakistan's exports of fish and seafood have increased by 52.07% compared to the same period last year. According to Pakistan Bureau of Statistics(PBS), Pakistan's seafood exports for July-August (2022-2023) recorded at USD 37.941 million, which is about 52.07% higher than exports of USD 224.949 million in July-August (2021-2022). Showing an extensive increase in seafood exports. In terms of volume, exports of fish and fish preparations increased by 42.45 percent from 11,128 metric tons last year to 15.864 metric tons in the first two months of last year. On a year-on-year basis, seafood export rose 81.36 percent to $19.435 million in August 2022 from $10.716 million in August 2021, according to PBS data. Expo...

FBR give extension to file income tax returns till October 31st, 2022

3Oct

By Azmat Shabbir1 Comment

Business

FBR give extension to file income tax returns till October 31st, 2022

The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns till 31st October 2022. The previous last date for filing income tax return for tax year 2022 was 30 September 2022. FBR had announced that it will not extend this date and has urged taxpayers to comply within the stipulated date but now FBR has extended the date to one month. The Chambers and Association had approached the FBR to extend the deadline for filing income tax returns, which expires on September 30, 2022. Karachi Chamber of Commerce and Industry (KCCI) President Mohammad Idris, in a letter sent to the Finance Minister on Monday, extended the deadline for submission of income tax returns to FBR from September 30, 2022 to December 31, 2022; Requested. Keeping in view the unusual sit...