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Tag Archives: Customs Today

CDA swoops on encroachers, demolishes illegal structures

ISLAMABAD: The Capital Development Authority’s (CDA) Enforcement Directorate launched a vigorous crackdown on encroachment in different areas to weed out the menace. Different teams of the CDA Enforcement Directorate demolished illegal boundary wall and structures on the authority’s land in Mohallah Chajar of Bari Imam area. Similarly, the anti-encroachment teams also demolished an illegal under-construction shop in Muslim Colony and ... Read More »

KSE-100 Index at all-time high of 30889pts with 225 more scores

KARACHI: The bull-run continued to help the stocks rise high as Karachi Stock Exchange benchmark KSE-100 index broke its all-time high and touched the unprecedented level of 30889, posting commendable gains of 225 points or 0.74 percent till midday trading on Friday. It seems the market has decided to touch the level of 31,000 as had predicted by experts and ... Read More »

6pc growth by 2018 under Vision 2025: Ahsan Iqbal

ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal said that the government was striving hard to materialise the dream of Pakistan-China trade corridor. While briefing members of Federal Cabinet about the performance of his ministry here, the minister said that the Planning and Development Ministry had focused the preparation of Vision 2025 since inception of the government. He declared ... Read More »

Opening: KSE sets to rise further, gains another 112 points

KARACHI: Upbeat Karachi Stock Exchange recouped overnight buoyancy and kept engaged investors, taking the benchmark KSE-100 index all-time-high of 30776 points, adding another 112points or 0.37 percent in early trading on Friday. Though Friday is the last trading day at the market, stocks appeared determined and kept on adding to the score tally while boosting confidence of the investors. The ... Read More »

SHC extends stay order against construction of nuclear plants

KARACHI: A Sindh High Court (SHC) bench, headed by its Chief Justice Maqbool Baqar, granted extension in a stay order already issued against the construction of two nuclear power plants – K-II and K-III till November 12. The Pakistan Atomic Energy Commission requested the court to allow construction to begin, claimed that the stay order was losses to the tune ... Read More »

Opening: Shining KSE adds another 162 points, reaches 30755

KARACHI: Stocks consolidated its overnight rally and kept on upward march, adding another 162 points or 0.53 percent to take the benchmark KSE-100 to 30755 points level. The mark opened at overnight closing of 595 points and appeared buoyant, maintaining upward trend. The market sustained bullish mood as was indicated by experts and analysts. Market bandits expected that the index ... Read More »

Punitive duties: Pakistan drags EU to WTO

ISLAMABAD: Pakistan took the European Union to the World Trade Organisation, challenging the latter’s move of imposing punitive duties on Pakistani exports of polyethylene terephthalate (PET). As per details, Pakistan is of the view that the EU has violated the WTO rules by imposing anti-subsidy duties on PET, which is used in synthetic fibres, plastic bottles and food containers. Under ... Read More »

42-paisa per unit cut: K-Electric ordered to share Rs5.421b with consumers

ISLAMABAD: Top power sector watchdog the National Electric Power Regulatory Authority (Nepra) ordered K-Electric to shares benefits of Rs5.412billion from its profits with its consumers and provide them immediate relief. According to reports, the Nepra’s decision comes as part of a mechanism included in K-Electric’s approved tariff in 2009, under which the power distribution company is bound to pass on ... Read More »

Philippine’s H1 banking profit plummet 34.7pc

MANILA: The Philippine banking sector’s net profit dropped 34.7% in the first half of the current year from a year ago as local banks suffer from trading losses. The country’s central bank, the Bangko Sentral ng Pilipinas (BSP), said the whole industry’s net profit in the first six months of 2014 reached only Php63.7bn (USD1.42bn) after earning Php97.7bn (USD2.17bn) a ... Read More »

Gold, silver down to 4-year-low as dollar rallies

SINGAPORE: Gold slid for a 5th session in six on Wednesday, tumbling to fresh four-year lows as a strong dollar kept investors away from the safe-haven asset and physical demand failed to provide underlying support. Silver tracked gold lower, hitting its lowest since early 2010, while platinum and palladium also fell. Underscoring the lack of interest in bullion, holdings in ... Read More »

Copper firms on surprise US factory growth pick-up

LONDON: Copper held its ground after global factory growth showed a surprise pick-up in the United States but modest prospects in China and Europe, and a softer dollar cushioned prices. Three month copper on the London Metal Exchange was unchanged at USD 6,720.75 by 0126 GMT having closed a tad firmer the session before. Prices have slipped from near six ... Read More »

Turkey’s inflation high amid falling world commodities prices

ISTANBUL: Despite fall in world commodity prices, primarily oil, inflation rates cannot be brought down to the desired level in Turkey. Central Bank Governor Erdem Başçı announced the Inflation report, saying that they had expected a fall in inflation in October but it happened the otherwise. In October, despite the market expectation of 1.78 percent, the consumer price index (CPI) ... Read More »

First Alibaba result records 15pc hike in income to $1.11b

NEW YORK: Alibaba Group Holding reported quarterly results, showing a 15 percent rise in its net income to $1.11 billion (HK$8.65 billion) for the July- September period, meeting forecasts. It was the mainland e-commerce giant’s first report to investors since its record-setting $25 billion listing in September. The non- Generally Accepted Accounting Principles net income – which excludes the share- ... Read More »

No handsome cut in transport fares despite govt orders

KARACHI: The transporters have refused to cut bus fares by 12 per cent to 20 per cent, demanded by the traders after massive reduction in POL prices. Meanwhile, Punjab Chief Minister Shahbaz Sharif, during a high-level meeting, gave approval to reduction in transport fares in proportion to decrease in the prices of petroleum products. The Punjab transport secretary told the ... Read More »

Midday: Cheering KSE shores up gains to 168 points

KARACHI: Buoyancy helped the Karachi Stock Exchange shored up gains to take the tally to 168 points or 0.55 percent to reach 30544 points in the midday trading on Wednesday. Earlier, the market began the week on a positive note and the benchmark 100 index kept on upward march, setting the trend for the trading. The Karachi Stock Exchange KSE-100 ... Read More »

Opening: KSE opens on positive note, gains 107 points

KARACHI: Stocks began the week on a positive note and the Karachi Stock Exchange KSE-100 went up 107 points or 0.35 percent to 30484 points in early trading on Wednesday. The market opened at the weekend’s closing of 30376 points and despite remaining closed for two extra days, appeared positive. The sentiments were high and the index kept on upward ... Read More »

Equalization surcharge deprives power consumers of Rs 27b subsidy

ISLAMABAD: The already entangled electricity consumers, with the exception of those of K-Electric, have been deprived of Rs27 billion annual subsidy with the withdrawal of Rs1.50 per unit subsidy. According to reports, the Ministry of Water and Power has imposed Electricity Equalization Surcharge of Rs1.50 per to cut down subsidy being offfered on electrcity. Although the National Electric Power Regulatory ... Read More »

MoU envisaging olive production promotion signed

ISLAMABAD: With the aim to promote olive products, the Pakistan Agricultural Research Council (PARC) entered into partnership with two private companies through a memorandum of understanding (MoU) signed here. The council has been working to strengthen and promote olive cultivation and use of olive products in the country through olive promotional project. The companies are M/s Eastern Marketing Services (Olive-Pakistan) ... Read More »

POL price cut: Fruit, vegetables price to slash by 5%

ISLAMABAD: In the wake of considerable cut in the prices of petroleum products, people have now pinned hope on the government that it will bring down prices of essential kitchen items including vegetables up to 5% and transport fares up to 12%. It is to be noted that the prices of daily-use items including vegetables remained high in the market, ... Read More »

Used cars import up by 63pc so as prices

KARACHI: Despite decease in duty and taxes rates on used cars import, the dealers have failed to bring down prices although used cars import has witnessed a drastic surge. As per reports, about 9,569 used vehicles were imported in the first three months of fiscal year 2014-15 as compared to 5,863 units in the same period last year, showing a ... Read More »