Business

NEPRA approves increase in power tariff by Rs1.49 per unit

F.P. Report ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved a summary for an increase in the price of electricity. According to reports, NEPRA approved an Rs1.49 per unit increase in the price of electricity, however, this will not be applicable on K-Electric. The increase came after the cost of fuel went up…

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Peshawar Team Wins One Million Pakistani Rupees in StartUp Cup

F.P. Report ISLAMABAD: Entrepreneurs can change the way we live and work.  Their innovations often improve our standard of living.  Their entrepreneurial ventures create wealth and also jobs, as well as the conditions for a prosperous society.  This is the reason the U.S. Embassy partnered with the youth of Pakistan in StartUp Cup, a competition…

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‘Tax measures in budget to trigger new wave of inflation’

F.P. Report ISLAMABAD: The Islamabad Chamber of Commerce & Industry (ICCI) expressing serious concerns over some taxation measures proposed in budget 2019-20 has said that it would trigger new wave of inflation in the country making the life of common man more miserable leading to further slump in business and economic activities. In a statement…

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Solid US retail sales offer economy some respite

WASHINGTON (Reuters): US retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter. The fairly upbeat report from the Commerce Department on Friday followed a raft of weak data, including a…

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Overseas Pakistanis remit $20.19b in 11 months

F.P. Report KARACHI: Overseas Pakistani workers remitted US $20190.98 million in the first Eleven months (July to May) of FY19, showing a growth of 10.42% compared with US $18285.90 million received during the same period in the preceding year. During May 2019, the inflow of worker’s remittances amounted to US $2315.74 million, which is 30.17%…

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Summit Bank performing at its peak

F.P. Report KARACHI: Summit Bank is smoothly carrying out its business and meeting all its obligations to depositors and customers in a normal manner. This fact was c by the bank in response to some fake news aimed at tarnishing the bank’s image and credibility. Contrary to such malicious news on social media, Summit Bank…

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US dollar touches record Rs154 in interbank market

F.P. Report KARACHI: The US dollar has continued its upward trajectory against the Pakistani rupee on Friday and now set a new record to touch Rs.154 in interbank market. According to details, the US dollar rose by Rs1.10 in the interbank market to reach Rs154. Earlier on Thursday, the Pakistani rupee continued to weaken against…

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