The Securities and Exchange Commission of Pakistan registered 2,864 new companies in July, according to the data released by SECP on Monday. This signalled an increase of 25 per cent from the corresponding month last year and marked the highest number of companies ever registered in a month. The total number of registered companies now stands at 225,561. About 58 per cent were registered as
The federal government has stepped up efforts to find the new head of the Federal Board of Revenue (FBR) as the incumbent is set to retire on Aug 15, Dawn learnt on Monday. The government has been compelled to look for the new tax czar as the FBR chairman, Amjed Zubair Tiwana, has sought treatment six months before reaching the age of superannuation. A list of officials of the Internal Reven
Wall Street’s main indexes slumped on Monday as risk appetite among investors dropped on fears of a US recession following weak economic data last week, sending tremors across global markets. Market worries eased a bit as the day progressed and stocks pared losses after data showed US services sector activity in July rebounded from a four-year low amid a rise in orders and employment. Trader
The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has declared two banks “essential” entities, thus saving them from being privatised. The committee’s meeting on Monday, chaired by Finance Minister Muhammad Aurangzeb, examined the status of SOEs for their probable handover to the private sector. The meeting was also attended by Minister for Housing Riaz Hussain Pirzada, Minister for
The stock market remained volatile due to rising political and economic uncertainty. However, based on last session’s bullish performance, it closed the outgoing week in the green zone, driven by continuous slowing Consumer Price Index-based (CPI) inflation. Arif Habib Ltd (AHL) said the week commenced positively with Monday’s Monetary Policy Committee (MPC) meeting. The State Bank of Pakistan