Samsung has asked an Indian tribunal to quash a $520 million tax demand for allegedly misclassifying imports of networking gear, arguing officials were aware of the practice as India’s Reliance imported the same component in a similar manner for years, documents show. Samsung becomes the second major foreign company in recent months to challenge an Indian tax demand. Volkswagen has sued Prim
Despite a long-term decline in inflation and real interest rates above 11 per cent, opinions on the State Bank of Pakistan’s (SBP) likely decision on the policy rate are divided, with trade and industry sectors advocating for a significant cut. Researchers conducted polls to gauge market sentiment, but the 0.3pc inflation in April has caused division among those who were confident there would b
The Asian Development Bank (ADB) announced on Sunday it plans to expand its support for long-term food and nutrition security in Asia and the Pacific by $26 billion, increasing its total funding commitment for such initiatives to $40bn over the 2022-2030 period. ADB President Masato Kanda announced the new target during the bank’s annual meeting in Milan, Italy. The expansion builds on the ADB’
For most Pakistanis, insurance remains a foreign concept — something distant, complicated, and often seen as unnecessary. But this disconnect comes at a cost. With insurance penetration at just 0.87 per cent of GDP in 2022, covering a mere 3pc of the population, compared to a global average of around 6.7pc, millions of families across Pakistan remain one accident, illness, or disaster away from
The United States, according to media reports, is facing significant challenges in securing so many trade deals within a short span of 90 days during which reciprocal tariffs have to be set. While the markets wait for trade negotiations with 90 countries at the same time, global trading is grinding to a standstill with problems similar to what we saw during Covid-19, writes Chief Economist at i