The Latest News from All Areas of Business

Facebook Twitter Youtube Instagram
Customer Deposits Grow 28%, Lending Advances 26% and Return on Equity Reaches 21%
Business

Mashreq Delivers Record H1 2026 Profit Before Tax of AED 4.8 Billion, Up 18% Year-on-Year

Mashreq Bank PSC (MASQ) announced record profit before tax of AED 4.8 billion for the first half of 2026, up…

US Dollar

Rupee Strengthens Slightly Against Dollar Amid Global Currency Shifts

The Pakistani rupee made a modest gain against the US dollar in early inter-bank trading on Thursday, appreciating by 0.1%…

Business
Mashreq Reports Robust Q1 2025 Results with AED 3.1 Billion in Revenue and Continued Strategic Growth

Mashreq Reports Robust Q1 2025 Results with AED 3.1 Billion in Revenue and Continued Strategic Growth

Mashreq Reports Robust Q1 2025 Results with AED 3.1 Billion in Revenue and Continued Strategic Growth

Business
HomePure Zayn Air Purifier Supports Healthier Homes Amid Indoor Air Quality Concerns

HomePure Zayn Air Purifier Supports Healthier Homes Amid Indoor Air Quality Concerns

With growing global attention on air pollution and its health impacts, the HomePure Zayn air purifier is emerging as a…

Business
Gold Prices Hit All-Time High

Gold Prices Hit All-Time High in Pakistan Amid Global Surge

Gold prices in Pakistan soared once again, reaching a record high as international market trends continued to push rates upward.…

Business
A leading economic think tank has called on the government to immediately withdraw the Tax Laws (Amendment) Ordinance 2025, warning it threatens Pakistan’s business climate and judicial independence. The Economic Policy and Business Development (EPBD) group said the ordinance, signed by the President on May 2, grants tax authorities sweeping powers that could disrupt cash flows, undermine legal safeguards, and damage investor confidence. The group highlighted three key changes that raised serious concerns: Immediate Tax Recovery: Amendments to the Income Tax Ordinance now allow authorities to demand immediate payment once courts decide cases—removing established legal buffers and stay provisions. On-site Monitoring: A new section permits tax officials to be physically present at business premises for ongoing monitoring, raising fears of operational disruption and privacy invasion. Broader Seizure Powers: Changes to the Federal Excise Act allow any government officer—not just tax officials—to confiscate goods over technical violations, increasing business uncertainty. EPBD said these measures were unjustified, especially as tax compliance had improved despite economic challenges. It warned the ordinance could deter both domestic and foreign investment, reduce economic productivity, and burden businesses with intrusive oversight. The group also raised constitutional concerns, saying the ordinance weakens judicial authority and sets a troubling precedent for governance in Pakistan. EPBD urged the government to withdraw the ordinance, allow parliamentary debate, and engage stakeholders. It also recommended restoring legal safeguards, avoiding blanket monitoring, and focusing on expenditure reforms rather than harsh tax measures.

Think Tank Urges Withdrawal of Tax Ordinance Amid Business Fears

A leading economic think tank has called on the government to immediately withdraw the Tax Laws (Amendment) Ordinance 2025, warning…

Business
Gold Prices Soar to Record High in Pakistan

Gold Prices Soar to Record High in Pakistan Amid Global Market Surge

Gold prices in Pakistan witnessed a steep rise on Monday, 5 May 2025, setting new records in the local market.…

Business