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Tag Archives: business

ANF recovers drugs worth Rs 480 million in countrywide raids

ISLAMABAD: The Anti Narcotics Force (ANF) Tuesday recovered drugs worth Rs 480 million in eight countrywide operations. Most of the seized drug was being smuggled for local use. ANF also arrested 10 people along with three vehicles. The recovered drugs comprise 446 kg of charas and five kg heroin in eight operations conducted at Rawalpindi, Lahore, Peshawar, Abbotabad, Sukkur and ... Read More »

Customs Court imposes fine on four accused

KARACHI: Special Judge Customs & Taxation Court Soofia Latif Tuesday imposed a penalty of Rs 50,000 on four accused for possessing illegally imported cache of cigarettes, Sheesha tobacco and Gutka Pan Masala. Mohammad Sadiq s/o Haji Karam Khan; Zeeshan s/o Muhammad Aslam; Mohammad Hashim s/o Shujauddin and Nadeem Iqbal s/o Muzammil Hussain deposited the penalty. According to the details of ... Read More »

Issue of fertilizer subsidy

According to newspaper reports, the Ministry of National Food Security and Research is dilly-dallying the issue of subsidy on fertilizers, leaving little room for the farmers to enthusiastically participate in the next season crops. The use of fertilizers is the basic element in the modern farming and the growers deserve every facility from the government, but the present situation will ... Read More »

Customs I&I seizes truck of Irani rubber processing oil

KARACHI: The Anti-Smuggling Organisation (ASO) of Customs Intelligence and Investigation-FBR, Karachi on Tuesday seized a truck during a raid at RCD National Highway containing hundreds of liters of smuggled Irani Rubber Processing Oil (RPO) worth Rs 5.1 million. On a tip-off,  ASO Customs Intelligence and Investigation team confiscated the truck containing the oil worth Rs 5.1 million on the spot ... Read More »

KCCI condemns manhandling of ICCI chief by Punjab Police in Islamabad

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Abdullah Zaki has strongly condemned the brutal assault by Punjab Police on Islamabad Chamber of Commerce and Industry (ICCI) President Shaban Khalid, who was attacked by police at a checkpoint in the federal capital. In a statement issued on Tuesday, the KCCI president said that the entire business community of Karachi, ... Read More »

Valuation ruling of motorcycle parts issued

KARACHI: The Directorate General of Customs Valuation has determined the Customs value of motorcycle parts through Valuation Ruling No 685/2014 under Section 25-A of the Customs Act 1969. The Customs values of motorcycle parts were earlier determined earlier vide Valuation Ruling No.664/2014 dated March 31,2014 and Amendment dated April 4,2014. However, the All Pakistan Motorcycle Spare Parts Importers & Dealers ... Read More »

PIAF-Founders Alliance gains more support

LAHORE: As many as 15 city markets, trade groups and industrial areas have so far announced their support for the PIAF-Founders Alliance in the Lahore Chamber of Commerce and Industry I elections being held on September 22 and 23. According to the spokesman of PIAF-Founders Alliance, President of All Pakistan Paper Merchants Association (APPMA) Mian Amjad Hussain, President Anjuman- e- ... Read More »

US, Chinese factory output lowers Tokyo Stock Market

TOKYO: The US and Chinese factory output ahead of a key federal reserve policy meeting ended a five-day winning streak of Tokyo stock which closed 0.23 percent lower on Tuesday. At the Tokyo Stock Exchange, the Nikkei 225- index lowered down 36.76 points at 15,911.53, while the Topix index of all first-section shares fell 0.22 per cent. On Friday, the ... Read More »

Microsoft officially announces purchase of Mojang

NEW YORK: Microsoft on Tuesday announced that it would purchase Minecraft maker Mojang at the cost of $2.5 billion. This is the largest acquisitions of the Microsoft since Satya Nadella took charge as CEO in February. Microsoft CEO Satya Nadella said that Minecraft is more than a great game franchise and it would open new opportunities for that community and ... Read More »

Alibaba hikes fund-raising target to $21.8 billion

BEIJING: Chinese e-commerce giant Alibaba on Tuesday increased fund-raising target for IPO to $21.8 billion. The ever-increasing demand for the Alibaba Group’s stock market pushed the Chinese e-commerce giant to set its fund-raising sights even higher. Alibaba increased the price range for its initial public offering to $66 to $68 for each American depository share which pushed its potential haul ... Read More »

Gold prices remain steady despite floods, political uncertainty

  LAHORE – Gold prices remained steady on Monday in the local market despite current political unrest and flash floods in the country. Like the last week, gold price for 24 karat closed at Rs 47,900 per tola and 22 karat gold metal price at Rs 43,900 per tola in city gold markets. Silver also remained stable in the market ... Read More »

Fixing oil prices – Pakistani style

The prices of Brent crude has fallen below $98 a barrel in the international market which is a 17-month low for the sixth straight session, thanks to oversupply and weak demand for the oil in the region. Earlier, the North Sea crude oil reached $115 a barrel after Islamic States of Iraq and Syria took control of several oilfields, when ... Read More »

Sialkot Dry Port Chairman urges dialogue, condemns road blockade

LAHORE: Sialkot Dry Port Chairman Muhammad Ishaq Butt has demanded all the political parties resolve the political issues through dialogue in the larger interest of the country. He said that political unrest in the federal capital had affected the exports from Sialkot Dry Port as all roads from Sialkot to Islamabad were blocked. “Exports have decreased by 30 percent during ... Read More »