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Turkey’s Erdogan, Russia’s Putin discuss situation in Middle East

ANKARA: Turkish President Tayyip Erdogan and Russian President Vladimir Putin discussed the situation in the Middle East, especially in Syria and Iraq, and better cooperation in fighting Islamic State, the Kremlin said late on Sunday. During a telephone conversation, both sides stressed that all interested states should boost efforts to successfully combat the spread of terrorism and extremism, the Kremlin ... Read More »

Carlsberg’s CEO,Rasmussen, to retire this year

COPENHAGEN: It has been announced by the Carlsberg Group company that the president and CEO Jorgen Buhl Rasmussen is going to retire this year. “Now is the right time to make a change to secure progress and continuity at the top executive level,” Flemming Besenbacher, the chairman of the Supervisory Board, said in a statement. “Jørgen is handing over a Carlsberg ... Read More »

JMA President calls for 10% tax rate on Junior Market

KINGSTON:  President of the Jamaica Manufacturing Association (JMA) Brian Pengelley is calling on Government to consider a 10 per cent tax rate for companies looking to list on the Junior Stock Market. Up to two years ago, Pengelley was a part of the Private Sector Working Group (PSWG) led by then president Joseph M Matalon, which supported the removal of ... Read More »

President Issa Murad opens Business Forum in Jordan

AMMAN: The private sectors in Jordan and Thailand have to work harder to enhance the volume of trade exchange and establish joint projects, Amman Chamber of Commerce (ACC) President Issa Murad said while inaugurating the Jordanian. Thai Business Forum, Murad described the trade balance between the two countries as still low, with Jordanian exports to Thailand in 2014 reaching $28 ... Read More »

Dilma rejects correction of 6.5% in IR table, plans to edit MP with adjustment of 4.5%

BRASILIA: Dilma Vana Rousseff, President rejected the correction of 6.5 per cent over the table of Income Tax for individuals in the calendar year 2015, but the minister of Institutional Relations, Pepe Vargas, said new interim measure less correction of the IR table will be sent to Congress in the coming days. He said the government will make a 4.5 percent ... Read More »

Zondo Sakala wants to contest for presidency of African development bank

HARARE: A former staffer of the African Development Bank (AfDB), Thomas Zondo Sakala has expressed interest in contesting the presidency of the multilateral institution. Sakala, a Zimbabwean had worked with the Bank for 31 years. He has the support of the Southern African Development Community (SADC) and the Zimbabwean government. Sakala joins seven other potential candidates who have shown interest ... Read More »

ECB’s Draghi: Governing council united to achieve inflation targets

FRANKFURT: The European Central Bank’s (ECB) governing council is united in its determination to achieve the bank’s mandate of keeping inflation just below 2%, ECB President Mario Draghi said that the bank is poised to launch a government bond purchase program when it meets next week. Draghi recounted experiences from his teenage years as a young head of household when inflation wiped ... Read More »

Rouhani says Saudi, Kuwait will suffer alongside Iran from oil price drop

TEHRAN: Hassan Rouhani, Iranian President said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop. Rouhani said as oil plunged to near six year lows on international markets, those that have planned to decrease the prices against other countries will regret this decision. Oil prices have ... Read More »

Iftikhar Vohra seeks EU’s assistance in improving infrastructure

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra, has asked the European Union countries to assist Pakistan in improving its infrastructure so that a business environment could be provided to Pakistani exporters who are keen to raise their exports to EU, particularly after the grant of GSP Plus status. He said that in the ... Read More »

PM, President term Pakistan investors’ attraction

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif said that the government was making arduous efforts to transform Pakistan into a conducive and attractive destination for foreign investments. He said that steady appreciation in the Baseline Profitability Index (BPI) stood testimony to the fact that Pakistan was a investment attraction including a long term business association. Prime Minister Nawaz Sharif was talking ... Read More »

GSP Plus opens new avenues for economic stability: President

BAHAWALPUR: President Mamnoon Hussain has said that the concept of trade instead of aid after achieving the status of GSP Plus has opened new avenues for economic stability of the country. Addressing the 7th convocation of Islamia University here on Friday, he said President Mamnoon Hussain said that government is trying its best to overcome energy crises and the appreciation ... Read More »

FBR to open 600 jobs stalled due to PM-President rift

Former PM and president violated merit and put “jobs for sale” tag   ISLAMABAD: The Federal Board of Revenue (FBR) has decided to recruit as many as 600 Grade 1-16 officials to overcome a shortage of manpower. The recruitment aims at improving enforcement system. Ads will be published in the newspapers in this regard. The FBR is facing a shortage ... Read More »

FBR, traders stand-off continues on SRO-608

ISLAMABAD: Traders have not yet provided any names to Federal Board of Revenue (FBR) for negotiations on controversial SRO-608 which adds to growing tensions among both. Islamabad traders have decided to discuss the matters in upcoming meeting of traders and member of chambers at Islamabad Chamber of Commerce and Industry (ICCI). The suggestions decided in the meeting will be sent ... Read More »

Leather industry of Pakistan

Pakistan Tanners Association President Muhammad Mussadaq has said that the tannery industry suffered a loss of Rs 1.5 billion last year as hides of sacrificial animals could not be protected from excessive heat and were damaged. He says that Pakistan has potential to earn $ 3 billion annually by exporting leather productsprovided the industry is given preferential status to enable ... Read More »

Islamabad traders condemn police manhandling

ISLAMABAD: The local business community in an urgently called meeting at Islamabad Chamber of Commerce & Industry strongly condemned the manhandling of Ajmal Baloch, President, All Pakistan Anjuman-e-Tijaran and Organizing Secretary, Traders Action Committee, Islamabad by Kohsar Police Station officials and called for urgent removal of Inspector General Islamabad Police and dismissal of police officials who were responsible for beating ... Read More »

Pakistan, Belarus should enhance trade ties: Shaban Khalid

ISLAMABAD: The newly appointed Ambassador of Belarus to Pakistan, Mr Andrei Ermolovich, said that Belarus is interested in broadening trade with Pakistan as both countries have good potential to expand bilateral trade and economic relations in multiple fields. He was interacting with businessmen during his visit to Islamabad Chamber of Commerce & Industry (ICCI). He said for the first time ... Read More »

Govt policies attracting investment in country: President

PESHAWAR: Foreign investors can enjoy Pakistan’s business-friendly environment by safe investment in the country. President Mamnoon Hussain said this while addressing 11th business excellence ceremony organised by Khyber Pakhtunkhwa Chamber of Commerce (KPCCI). The president urged the KPCCI members to play their vital role in creating more economic opportunities in the province. He also lauded the courage of people of ... Read More »

3,000 members to cast vote for KCAA election

KARACHI: Around 3,000 members of the Karachi Customs Agents Association (KCAA) will cast their votes at auditorium on September 25 to elect a 20-member managing committee, including the president and the general secretary. As per details, the annual general elections of the KCAA for the term 2014-15 will be held on September 25. The voting will be held from 9am ... Read More »

Delay in FTO Sialkot camp office draws STBA ire

SIALKOT: Sialkot Tax Bar Association (STBA) President Shahid Mehmood has regretted the delay in the establishment of Federal Tax Ombudsman (FTO) camp office at the export-oriented city despite a lapse of four months and demanded early setting up of the office. Talking to Customs Today, Mehmood informed that the STBA had long been struggling for the FTO camp office in ... Read More »

Importers face heavy fines without fault

KARACHI: Importers have been facing heavy fines and surcharges for delay in grounding of containers at the Pakistan International Container Terminal (PICT). Sources told Customs Today that importers have been waiting from five to six days for the grounding of containers for examination during the last few weeks. “Importers were being fined for delay even the Karachi Customs Agents Group ... Read More »