Pakistan election-winner Nawaz Sharif has picked a veteran finance minister to serve in his cabinet as Karachi stocks hit an all-time high Monday over hopes his pro-business agenda can revive the economy.Sharif, who has sought to present himself as a pragmatist who can do business with the United ...

LONDON: The British govt has launched a legal challenge against plans for a European financial transactions tax to be adopted by 11 EU states, finance minister George Osborne said Friday.Osborne said an application had been lodged at the European Court of Justice against the Financial Transaction ...

PARIS : France has opened a judicial investigation into allegations that former President Nicolas Sarkozy's 2007 election bid won illicit funds from late Libyan leader Muammar Gaddafi, the public prosecutor's office said on Friday.The inquiry adds to the legal issues plaguing Sarkozy, who some see ...

ISLAMABAD - The newly appointed Advisor on Finance, Shahid Amjad Ch, called on Prime Minister Justice (Retd) Mir Hazar Khan Khoso at the Prime Minister’s House on Tuesday morning.While talking to the advisor finance, the Prime Minister expressed the confidence that the newly appointed advisor ...

ISLAMABAD - The caretaker government has failed to appoint a Finance Minister despite a fortnight time to steer out the fragile economy from existing morass thus raising serious questions how to handle preparations of the forthcoming budget 2013-14.The caretaker Prime Minister Mir Hazar Khan Khoso, ...

 DOHA/DUBAI (Reuters) - The International Islamic Liquidity Management Corp (IILM), a body backed by central banks from the Middle East and Asia, announced plans to issue its first Islamic bonds after an unexpected pull-out by Saudi Arabia from the body.The IILM aims to issue up to $500 ...

RAWALPINDI - Member Finance OGRA Mir Kamal Farid Bajarani on Thursday fled from Lahore High Court (LHC), Rawalpindi bench, after his interim bail was cancelled in mega 84 billion corruption case. A division bench comprising Justice Anwar ul Haq and Justice Abdul Sami Khan cancelled the interim bail ...

ISLAMABAD - An over-speeding bus allegedly belonging to WAPDA hit former federal secretary of ministry of finance, Habibullah, and his wife to death on Wednesday.According to police, incident occurred here at Sector G-10. Both husband and wife were critically injured and rushed to PIMS where both ...

Federal Finance Minister Hafeez Sheikh has complained of the army of ministers, advisers and bureaucrats, proving a burden on the budget. He made this complaint while delivering the inaugural address to the annual conference of the Pakistan Institute of Development Economics on Tuesday. This ...

LAHORE - FBR Federal Revenue Alliance Union, condemning the role of Finance Division and Establishment Division, has urged the government to set FBR free from clutches of these departments.When tax department has already been declared as an independent and autonomous institution under the Act 2007, ...

ISLAMABAD - Federal Minister for Finance, Dr Abdul Hafeez Sheikh called on Prime Minister Raja Pervez Ashraf at Prime Minister’s House on Saturday evening and discussed with him the overall economic situation in the country. The Prime Minister expressed the confidence that Finance Ministry ...

LAHORE - The Finance Division has been denying promotions to the income tax inspectors who have not been upgraded since 1983 and Finance Division is the main hurdle. FBR Federal Revenue Alliance Union stated that the Inland Revenue Services department made the last promotions in 1982-83 and after ...

LAHORE – Turning down the request of Punjab police to release Rs1 billion for recruitment of 4,000 retired army personnel, the provincial finance department has asked the police department to first fill existing vacant seats. According to Punjab Finance Department officials, the police has ...

Prime Minister Raja Pervez Ashraf Friday directed the Ministry of Finance to allocate fund to Higher Education Commission with immediate effect. The Prime Minister said the allocated funds to HEC must be released without any delay as it is a question of the future of thousands of students. The ...

Bismillahir Rehmanir RaheemMadam SpeakerI want to start by thanking Almighty Allah for giving me the responsibility to present the fifth budget of the elected government. This is a historic occasion. The nation should be proud of this achievement. The world can see that democracy is thriving in ...

LAHORE - The finance ministry, in a bid to minimise the subsidy, has shifted the load of Rs14 billion to growers by raising bag rate from Rs1300 to Rs1600, as more than 10 million bags of urea have to be sold to farmers in current Rabi season.The government has increased the rate of imported urea ...

ISLAMABAD - The Pakistan Poverty Alleviation Fund (PPAF) and Pakistan Microfinance Network have jointly launched an initiative called the MicroEYE to map the competitive environment of micro finance markets in the country.According to a press release issued here on Friday, the initiative was ...

OUR STAFF REPORTER LAHORE - Pak-Qatar General Takaful Ltd (PQGTL) and Tajweez Advisory Co WLL Bahrain, in cooperation with the International Islamic Financial Consultant (IIFC) jointly organized a three-day intensive workshop titled 'Islamic Product Structuring and Pricing, Tools and Techniques at ...

OUR STAFF REPORTER LAHORE - There are many chances of investment in Kazakhstan regarding International Islamic Banking and financial institutions are in looking on different options for investments in Kazakhstan because the world sees the Kazakhstan a central hub for Islamic banking and finance for ...

BEIJING (APP) - The EXIM Bank of China Thursday expressed its readiness to finance Karachi-Faisalabad- Gwadar Motorway and will soon send a team of experts to Pakistan for a feasibility study of the proposed project. The assurance came during a meeting between Chairman EXIM Bank Li Ruogu and Prime ...

LAHORE - The Services and General Administration Department has requested the Finance Department to release Rs 10.320 million under the head of the payment of training course fee. This has been done after the Management and Professional Development Department has in turn pleaded for the same from ...

LAHORE - State Bank of Pakistan (SBP) has a close liaison with the educational institutions for the induction of Development Finance as part of their curriculums. This was stated by Chief Manager Banking Services Corporation State Bank of Pakistan Muhammad Munir Ahmed in his key note address at ...

GYEONGJU, South Korea (AFP) - The Group of 20 nations struck a hard-fought agreement Saturday on reforming the IMF to give a greater say to emerging nations such as China in the worlds financial watchdog. G20 finance ministers clinched the deal after years of efforts to make the Washington-based ...

KARACHI The Federal Government has not released Rs 13 billion funds earmarked for uplift schemes of Sindh, approved under Federal Public Sector Development Programme for current FY 2010-11. The Planning and Development Departments (P&DD) of Sindh Government already raised the issue by writing ...

ISLAMABAD Islamabad Capital Territory Police from top to bottom has been demoralised by none other reason but for the capital crunch of the federal government as the Finance Ministry has informed the ICT Police that they wont get an allocated Rs 200 million. According to sources in the ICT, the ...

KARACHI - The PPP-led Federal Government is reluctant to finance the multi-billion rupees infrastructure projects floated by Sindh government to ease the investment climate at Thar coalfield, officials sources told The Nation on Friday. The concept paper of infrastructure projects ranging from ...

ISLAMABAD (APP) - The government has allocated Rs 14565.733 million for Finance Division projects in PSDP for the year 2010-11. According to the budgetary document released here on Saturday, out of the total allocations, Rs.823.109m each have been earmarked for Sewerage Schemes by WASA (South ...

JAKARTA (AFP) - Indonesian Finance Minister Sri Mulyani Indrawati quit on Wednesday to take a top job at the World Bank after months spent battling politicians bent on her ouster, leaving investors rattled. The surprise appointment as World Bank managing director was seen as a blow to economic ...

KARACHI - The Securities and Exchange Commission of Pakistan (SECP), with the approval of the Federal Government, has made significant amendments in the Non-Banking Finance Companies (Establishment and Regulation) Rules 2003 (Rules) which are effective from April 21, 2010. SECP has extended the ...

WASHINGTON (AFP) - US President Barack Obama pledged to veto any Wall Street reform bill lacking tough rules on opaque financial instruments, as his administration moved to head off opposition to new rules. Amid a deepening political row over the next big ticket item on his agenda, Obama said he ...