Important Business News 3rd November, 2019

Important Business News

3rd November, 2019

 

S.# Description Pg # Source
1.

Oct exports post 6pc growth YoY

The country’s exports have posted a growth of 6 percent to $ 2.008 billion in October 2019 from $ 1.896 billion in the corresponding period last year.

https://epaper.brecorder.com/2019/11/03/1-page/808544-news.html

 

1 Business Recorder
2.

New commercial connections

Discos endorse FBR decision to disallow unregistered applicants

Power distribution companies have endorsed the decision of the Federal Board of Revenue (FBR) that any application for commercial and industrial connection of electricity shall not be entertained unless the applicant is registered under Section 181 of the Income Tax Ordinance 2001.

https://epaper.brecorder.com/2019/11/03/1-page/808545-news.html

 

1 Business Recorder
 

3.

ASEAN leaders hanker for trade deal

 Southeast Asian leaders met Saturday in Thailand eyeing a breakthrough in talks over the world’s largest trade deal to help throw off the torpor which has gripped the global economy since the start of the US-China tariff war.

https://epaper.brecorder.com/2019/11/03/1-page/808546-news.html

 

1 Business Recorder
4.

No bar on beneficiaries to sell forex at bank of choice: SBP

The State Bank of Pakistan (SBP) does not restrict beneficiaries to sell their foreign currency account proceeds on their respective bank’s counter and they have the choice to sell the proceeds at any authorized dealer (bank) of their choice or in open market at favorable rate. https://epaper.brecorder.com/2019/11/03/1-page/808548-news.html

 

1 Business Recorder
5.

PSDP 2019-20

Govt releases Rs37bn for CPEC projects

The federal government has released about Rs 37 billion (38.5 percent) for China-Pakistan Economic Corridor (CPEC) development projects under Public Sector Development Program (PSDP) 2019-20 against the total budgeted allocation of Rs 95.73 billion, it is learnt.

https://epaper.brecorder.com/2019/11/03/1-page/808553-news.html

 

1 Business Recorder
6.

Rules notified for rehabilitation of sick companies

The Securities and Exchange Commission of Pakistan (SECP) with the approval of the federal government has notified the Corporate Restructuring Companies Rules, 2019. https://epaper.brecorder.com/2019/11/03/2-page/808557-news.html

 

2 Business Recorder
7.

Volumetric increase in exports: Pahsa contests SBP’s claim

The Governor State Bank of Pakistan’s claim that the country’s exports have increased in terms of volume is inaccurate as apart from rice, which witnessed a 52 percent increase in terms of volume, exports of all other items have contracted.

https://epaper.brecorder.com/2019/11/03/12-page/808664-news.html

 

12 Business Recorder
8. Currency exchange rates

Countries

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

$

£

¥

﷼, SR

Rates

155.88

201.99

173.97

22.13

41.55

  SBP

 

 

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