Important Business News 13th November, 2017

Important Business News

13th November, 2017

S.# Description Pg # Source
1.       RD case of one step forward, two steps back

Commerce Ministry has decided to review Regulatory Duty (RD) recently imposed to discourage imports of non-essential items and finance the export promotion package, after local industry termed it an anti-industry step.

http://epaper.brecorder.com/2017/11/13/1-page/681779-news.html

1 Business Recorder
2.       Petroleum levy imposed on imported LPG

Ahead of rising winter demand, the government has imposed a petroleum levy on imported Liquefied Petroleum Gas (LPG).

http://epaper.brecorder.com/2017/11/13/1-page/681780-news.html

1 Business Recorder
3.       Silk Road revival hits the buffers

China’s push to revive Silk Road trade routes is running into problems that risk tarnishing the economic crown jewel of Xi Jinping’s presidency. The “One Belt, One Road” initiative, unveiled by Xi in 2013, envisages linking China with Africa, Asia and Europe through a network of ports, railways, roads and industrial parks.

http://epaper.brecorder.com/2017/11/13/1-page/681781-news.html

1 Business Recorder
4.       PSX recoups lost ground

Pakistan Stock Exchange witnessed some recovery during the outgoing week ended on November 10, 2017 mainly on the back of buying by mutual funds post relaxation of cash holding rules and value buying at cheap multiples, analysts said. BRIndex100 gained 34.15 on week-on-week basis to close at 4,437.09 points with average daily volumes of 102.041 million shares.

http://epaper.brecorder.com/2017/11/13/1-page/681782-news.html

1 Business Recorder
5.       Future spreads up 357bps

The future spreads increased by 357bps to 5.70 percent on the last day of the outgoing week. Trading activities on the futures counter remained thin as average daily volumes decreased by 27.0 percent to 30.31 million shares.

http://epaper.brecorder.com/2017/11/13/1-page/681783-news.html

1 Business Recorder
6.       Pakistan, India, and Afghanistan trade

There have been several recent developments regarding transit trade to and trade with Afghanistan. Firstly, and most significantly, India and Iran have made operational a transit trade route to Afghanistan via Chabahar that bypasses Pakistan.

http://epaper.brecorder.com/2017/11/13/2-page/681792-news.html

2 Business Recorder
7.       LHC stops FBR official from issuing notice

Lahore High Court (LHC) has stopped the Federal Board of Revenue (FBR) official to issue notice under Section 122 of Income Tax Ordinance, 2001 (Ordinance) in tax year 2016 audit selection by Commissioner Inland Revenue under Section 177 of the Ordinance.

http://epaper.brecorder.com/2017/11/13/18-page/681928-news.html

18 Business Recorder
  International Business News    
8.       ASEAN, Hong Kong sign deal in ‘vote for open trade’

Hong Kong and Southeast Asian nations signed a free trade deal Sunday, in what one minister described as a “clear vote” against protectionism, as the United States withdraws into its “America First” rhetoric.

http://epaper.brecorder.com/2017/11/13/18-page/681925-news.html

18 Business Recorder
9.       Trump rails at Vietnam trade imbalance as deals signed in Hanoi

Vietnam and the United States signed a series of energy and aviation deals Sunday during a visit to Hanoi by US president Donald Trump, who railed against Washington’s yawning trade deficit with the fast-growing nation.

http://epaper.brecorder.com/2017/11/13/8-page/681845-news.html

8 Business Recorder
10.    Strategic Trade Framework- An Analysis

Last year it was the US-funded PREIA that took the initiative to engage Pakistan’s private and public stakeholders for revisions in the trade policy. This year it’s the World Bank that’s engaging stakeholders under an Australian-government funded project aimed at boosting Pakistan’s exports.

http://epaper.brecorder.com/2017/11/13/2-page/681789-news.html

2 Business Recorder
11.    Hudaibiya case reopening- Editorial

A three-member bench of the Supreme Court (SC) will begin hearing a petition by the National Accountability Bureau (NAB) for reopening the Hudaibiya Paper Mills case today. The petition ensues from the Panama case in which the then prime minister Nawaz Sharif was disqualified. In the judgement in that case, Justice Asif Saeed Khosa, who is also heading the bench in this case, had directed NAB to proceed against Finance Minister Ishaq Dar, who was not an accused in the original reference concerning Hudaibiya filed in 2000 as he had been pardoned after signing a confessional statement.

http://epaper.brecorder.com/2017/11/13/16-page/681911-news.html

16 Business Recorder
12.    Modern Economic diplomacy- Editorial

The global economic order is shifting, driven principally by the rise of emerging powers, changing structure of power and parameters of international system, distinctive diplomatic approaches and increasing involvement of international organizations.

http://epaper.brecorder.com/2017/11/13/16-page/681913-news.html

16 Business Recorder
13.    Currency exchange rates

 

Countries

 

U.S.A

U.K

EURO

CANADA

SAUDIA ARABIA

Selling TT&OD

105.55

138.78

122.94

83.30

28.14

Buying TT Clean

105.35

138.51

122.71

83.14

28.09

Buying OD/T.CHQ

105.13

138.23

122.46

82.92

28.02

7 Business Recorder

 

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