Important Business News 9 February, 2018

Important Business News

9 February, 2018

  S.# Description Pg # Source
1.      

Benami rules redrafted

The Federal Board of Revenue (FBR) has redrafted Benami Transactions (Prohibition) Rules, 2018 on the recommendation of Cabinet Committee for Disposal of Legislative Cases (CCLC) to ensure that powers of the federal government to be exercised by the Cabinet/Prime Minister cannot be delegated to any minister.

http://epaper.brecorder.com/2018/02/09/1-page/698750-news.html

1 Business Recorder
2.      

Pakistan Apparel Forum assuredSeparate tariff for textile export sector to be announced soon: PM

Prime Minister Shahid Khaqan Abbasi assured the delegation of Pakistan Apparel Forum led by its Chairman, Muhammad Jawed Bilwani to facilitate the apparel export sector to enhance exports and more employment generation and industrialization.

http://epaper.brecorder.com/2018/02/09/7-page/698794-news.html

7 Business Recorder
3.      

Pakistan Apparel Forum assuredSeparate tariff for textile export sector to be announced soon: PM

Prime Minister Shahid Khaqan Abbasi assured the delegation of Pakistan Apparel Forum led by its Chairman, Muhammad Jawed Bilwani to facilitate the apparel export sector to enhance exports and more employment generation and industrialization.

http://epaper.brecorder.com/2018/02/09/7-page/698794-news.html

7 Business Recorder
4.      

SHC scraps RD on different items

The Sindh High Court has removed regulatory duty on the import of different products and gave one-month’s time to the government for appeal against the ruling.
The SHC also placed its decision under suspension until the apex court gives any ruling against the verdict.

http://epaper.brecorder.com/2018/02/09/22-page/698910-news.html

22 Business Recorder
5.      

China ‘worried’ over US trade relations as surplus narrows

China expressed concern on Thursday over the US ramping up trade investigations as official data showed its surplus with America narrowed in January after reaching record levels last year.
This week China announced an investigation into imports of a US agricultural product after President Donald Trump’s administration launched a spate of new trade tariffs and probes into Chinese goods. The Trump administration has shown no signs of letting up, with major decisions looming on Chinese aluminium, steel and intellectual property practices.

http://epaper.brecorder.com/2018/02/09/22-page/698917-news.html

 

22 Business Recorder
6.       Reserves decrease

The country`s total liquid foreign exchange reserves amounted to $19.18 billion for week ended on Feb 2, down 0.88 per cent from $19.35bn the week earlier, the State Bank of Pakistan(SBP)reported on Thursday.

10 Dawn
7.       `Fake beverages thriving due to high tax rates, harming industry`

High taxes are promoting sales of fake products, the beverage sector complained to the parliamentary body while demanding that the Federal Board of Revenue (FBR) needs to rationalise indirect taxes on carbonated drinks.

https://epaper.dawn.com/DetailImage.php?StoryImage=09_02_2018_010_003

10 Dawn
  International Business News    
8.      

Pakistan, Jordan decide to expand ties in every area

King Abdullah II Ibn Al Hussein met with Prime Minister Shahid Khaqan Abbasi at the Prime Minister’s House on Thursday. King Abdullah held delegation level talks with the Prime Minister of Pakistan during which the two sides reviewed the entire gamut of bilateral relations and exchanged views on ways to further expand these relations in a variety of fields.

http://epaper.brecorder.com/2018/02/09/1-page/698744-news.html

1 Business Recorder
9.      

German trade surplus shrinks for first time in 8 years

Germany’s trade surplus shrank for the first time since 2009 last year as imports outpaced exports in Europe’s booming top economy, giving Berlin ammunition to ease criticism of its huge trade gap with other countries.

9 Business Recorder
10.    China agrees to accommodate Pakistan`s concerns on FTA

After intense negotlations, China on Thursday agreed to accommodate the demands of Pakistani exporters in the amended Free Trade Agreement (FTA) which is expected to be signed in March, a press release issued by the Ministry of Commerce said.

https://epaper.dawn.com/DetailImage.php?StoryImage=09_02_2018_010_005

10 Dawn
Editorial/Reports

 

   
11.   

Backtracking on Eurobond issue- Editorial

A Business Recorder exclusive, sourced to Miftah Ismail, the Advisor to the Prime Minister for Finance, Revenue and Economic Affairs, on Wednesday said the Ministry of Finance withdrew the summary of issuance of 1 billion dollar Eurobonds for cabinet approval at the last minute – a withdrawal that is generating considerable speculation in economic and political circles. The summary had noted that ‘tapping’ would be the way forward, defined as not higher than the original issue amount which in this case was 1.5 billion dollars, at a coupon rate of 6.875 for a period of 10 years and quoted Ismail as saying that “I have withdrawn the summary…we are not going for tapping.”

http://epaper.brecorder.com/2018/02/09/20-page/698903-news.html

20 Business Recorder
12.    Currency exchange rates

 

Countries

 

U.S.A

U.K

EURO

CANADA

CHINA

SAUDIA ARABIA

Selling TT & OD 110.50

153.50

135.67

87.98

17.83

29.46

Buying TT Clean

110.30

153.22

135.43

87.83

17.80

29.41

Buying OD/T.CHQ

110.07

152.20

135.15

87.59

17.75

29.33

11 Business Recorder

 

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