In The News

Crude Oil Exports Hit Europe Aframax Rates; VLCCs Cut Clean Tankers Demand US crude oil exports to the Mediterranean and West European countries have dragged down Aframax rates in these areas, seriously hurting the earnings of shipowners in what was …

Pakistan: Facebook Launches Instagram Lite For Emerging Markets: Facebook has introduced a stripped-down version of the social photo-sharing app Instagram. Instagram Lite is going to be lighter and would be able to run on devices with small amounts of storage …

Oil Gains On Anticipation Of Sanctions On Iran Oil prices rose on Friday on concern that US sanctions against Iran would remove a substantial volume of crude oil from world markets at a time of rising global demand. US crude …

Dubai Gold Prices Drop To 6-Month Low, 22k Priced At Dh144 Gold prices posted a six-month low on Thursday, pressed down further by a firm dollar and as the US Federal Reserve Chair confirmed an outlook for higher interest rates …

GST Formalising Economy, Widening Tax Base, Says Finance Ministry The Finance Ministry said it would be increasingly difficult for businesses to remain outside the tax net as GST is leading to formalisation of the economy. The Goods and Services Tax …

Govt To Go After People Hiding Assets From Sep 1,2018 The amnesty scheme provides last chance to overseas and resident Pakistanis to declare their hidden assets by June 30, 2018 as the government will come into action against those who …

Speculators Creates Waves In The Asian Bulk Carrier Market Despite the global economic recovery that is keeping shipping demand high in Asia, charter rates for large bulk carriers have been fluctuating wildly, driven by investors trading contracts for future carrier …

PAKISTAN: PTCL Achieves ISO Certification For Cloud Infrastructure Services Security: PTCL has become the country’s first telecom operator to achieve two ISO certifications in parallel for its cloud services ‘Infrastructure-as-a-Service’ (IaaS) offering. These are ISO/IEC 27001:2013 and ISO/IEC 27017:2015. The …

Oil Jumps As Opec Agrees To Modest Output Hikes Oil prices soared on Friday after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. The Organization of the …

Businesses Can Settle Vat Payments At Uae Exchange UAE Exchange has announced that it has started accepting Value Added Tax (VAT) payments on behalf of the Federal Tax Authority (FTA). All entities registered with the FTA who have a valid …