MANAMA (PR): The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) has announced that its net income increased by 15% and total operating income by 16% in the first quarter of 2013 compared to the same period of 2012. Similarly, statement of financial positions ...

LAHORE – After transferring officials backed by PIA’s employees union Peoples Unity (CBA) from passengers handling section, national flag carrier has started earning billions of rupees in the head of Excess Baggage and saving of millions through transit flights expense, said well-placed ...

The Special Anti-Terrorism Court in Rawalpindi directed the authorities on Saturday to investigate the sources of income of Sehba Musharraf, wife of former military ruler Pervez Musharraf.According to a private television channel, the special ATC issued the directive during the hearing of a ...

AHMAD AHMADANIISLAMABAD - Due to the wrong step of the government, the gas companies have managed to put Rs 26 billion burden on the poor masses on account various non-operating income heads.Sources privy to the development informed TheNation that Ogra has written a letter to Petroleum Ministry ...

LAHORE – The Federal Board of Revenue (FBR) has announced to promote 77 inspectors to the rank of Income Tax Officers (ITOs), however, 113 seats of ITOs are still vacant and tax department is reluctant to fill the posts.Federal Revenue Alliance Unions central president Abdul Qayyum hailed the ...

HYDERABAD (APP) Hyderabad Chamber of Commerce and Industry (HCCI) has demanded of the Federal Board of Revenue to re-introduce the old forms for filing of income tax returns. President HCCI Seth Goharullah and chairman Inland Revenue Service committee of HCCI Haji Muhammad Yaqoob have said that it ...

ISLAMABAD - A crucial meeting on agricultural income tax between centre and provinces ended inconclusive on Tuesday, as no decision was taken in this regard. The sub committee, formed by Council of Common Interest (CCI) on agricultural income tax met under the chairmanship of Federal Minister for ...

ISLAMABAD (APP) - Islamabad Chamber of Commerce and Industry (ICCI) on Monday urged the government to extend date of filing income tax returns at least one month to facilitate businessmen. They said that the country was facing a crisis-like situation and extension in date for filing of income tax ...

ISLAMABAD - The Federal Tax Ombudsman (FTO) has refunded income tax of Rs 685 million, which was outstanding since 1995-96, to Port Qasim Authority (PQA). The PQA had lodged a complaint with the FTO that Income Tax Department had illegally withheld its refunds for the last 15 years, although PQA, ...

ISLAMABAD (APP) - Senior citizens over 60 years of age are entitled to claim 50 per cent rebate in the payment of tax outstanding against them. In a press statement, the FBR has clarified that this facility is available to all senior citizens under section 53(1)c and clause 1A of Part-III of the ...

RAWALPINDI - President Rawalpindi Chamber of Commerce and Industry (RCCI), Kashif Shabbir, has said that major amendments made in Income Tax Ordinance 2001 through Finance (Amendment) Ordinance 2009 are totally against the spirit of the ordinance 2001. Through these amendments, he said, arbitrary ...

KARACHI - The Board of Directors of HBL Asset Management Limited, the Management Company of HBL Income Fund, in its meeting held on Oct 13 announced first interim bonus Units for 'A and 'B Classes of Units and Cash dividend for 'C Class Units for the year ending June 30, 2010. The board has ...

KARACHI - National Investment Trust has shown an impressive growth of 43.4pc in its net income, as it increased to Rs 2,071 million during the quarter ended on September 30, 2009, from Rs 1,444 million in the same quarter of last year. This was stated by NIT Chairman & MD Tariq Iqbal Khan in a ...

KARACHI - During the first two months of FY10, the income and money market funds earned an average annualised returns of 17.5 per cent and 7.8 per cent respectively. The income and money market fund managers had increased the exposures in the government securities. During the first half of ...

KARACHI - The phenomenon of rupee devaluation could boost the non-interest income of the commercial banks in providing banking services, dealing in foreign currency operations, The Nation has learnt. Similarly, few banks with overseas exposure may have a positive impact on the rupee-based revenues ...

KARACHI - The fee income growth of the MCB Bank is expected to increase further if MCB succeeded in its bid to acquire the RBS Pakistan operations, which has both a strong infrastructure and quality human resource, says JS report. This probable development could boost the consumer financing ...

Federal Board of Revenue (FBR) has recently announced creation of a new post of Member Internal Revenue Service and abolishment of the post of Member Sales Tax. The new Member IRS shall deal with both Income Tax and Sales Tax and hence Sales Tax and Income Tax have effectively been merged. It has ...

ISLAMABAD - Inflation for the lowest income group has been recorded 23.36 percent in the week ended December 24 as compared to corresponding week of previous year. The official statistics released here on Saturday depicted that the Sensitive Price Indicator (SPI) for the income group of Rs 3000 per ...

KARACHI - The Board of Directors of UBL Fund Managers Limited, the Management Company of United Money Market Fund (UMF), United Growth and Income Fund (UGIF) and United Islamic Income Fund (UIIF), announced interim payout for its income funds. The Board has once again approved a payout of 100% of ...

KARACHI - Income Funds managed by UBL Fund Managers have recorded strong performance over the last quarter ending September 2008. UBL Fund Managers is currently managing assets of Rs. 27.9 billion (as of 30 September 2008).   The United Growth & Income Fund (UGIF) yielded 11.59% p.a. ...

US will appeal to NATO allies on Thursday to send more troops to fight Taliban insurgents in Afghanistan, despite the prospect of spending cuts because of the global financial crisis. Defense ministers of the 26-nation alliance hold a two-day meeting in Budapest against a backdrop of a rise in ...

KARACHI - President Karachi Chamber of Commerce and Industry (KCCI) Shamim Ahmed Shamsi has urged Chairman, Federal Board of Revenue Ahmad Waqar to extend the deadline for filing of Income Tax Return from 30th September to 31st October, 2008. Outlining the various reasons, the Chamber Chief ...

KRACHI - IGI Funds Limited, the Asset Management Company of IGI Financial Services and Packages Group, has signed a Trust Deed for the launch of the 'IGI Pak Brunei Income Plus Fund'. Speaking at the occasion, Javed Hassan, CEO of IGI Funds said, "We are confident in signing this Trust Deed as ...

ISLAMABAD - The Sensitive Price Indicator (SPI), for the week ended on August 21, for the lowest income group up to Rs.3,000, has registered increase of 0.54 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 217.13 as against 215.96 ...

The US on Wednesday called on NATO to hold an extraordinary meeting of foreign ministers in Brussels next week to discuss the crisis in Georgia, a NATO spokeswoman said. "Washington this morning asked the organisation to hold a NATO foreign ministers' meeting, and consultations are underway to ...

ISLAMABAD  - The Sensitive Price Indicator (SPI), for the week ended on July 24, for the lowest income group up to Rs. 3,000, has registered increase of 0.60 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 212.95 as against ...

ISLAMABAD - Chairman Senate Standing Committee on Defence and Defence Production Nisar Memon has said that poppy cultivation in Afghanistan has increased during the last few years and its income is being utilized by terrorists to purchase modern and sophisticated weapons. He expressed these ...