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A2 Milk H1 profit up by 15pc, despite double-digit fall in China infant formula market

A2 Milk has lifted its first-half net profit by 15.6 per cent to $85.3 million - ahead of market expectations - despite a double-digit decline in China’s...

China , David-bortolussi , A2 , Milk , H1 , Profit , Up , By , 15pc , Despite , Doubledigit

Director dealings: Airtel shareholder crosses 15pc threshold, BT CFO sells stock

Two significant director dealings were disclosed to the market on Thursday, with one of Airtel Africa’s shareholders crossing the 15% holding threshold, while BT’s finance chief sold a chunk of his holding.

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SBP jacks up interest rate to 15pc

SBP on Thursday raised the monetary policy rate by 125 basis points to 15% to maintain the balance between inflation and economic growth.

Pakistan , Karachi , Sindh , Murtaza-syed , State-bank , Acting-state-bank , 15pc , Nterest-rate , Acks-up , Bp ,

Spices exports increased by 115pc in volume, 84 pc in value in last 7 years, says Piyush Goyal

Union Minister Piyush Goyal on Saturday said that the exports of spices have increased by a phenomenal 115 per cent in volume and 84 per cent in value in the last seven years.

India , Kerala , Ministry-of-commerce , Union-minister-piyush-goyal , Spices-board , Spice-board , Spices , Xports , Ncreased , Y , 15pc

Govt to slash down turnover tax from 1.5pc to 0.5pc

National
May 25, 2021
ISLAMABAD: The government is contemplating upon different options to provide relief to the country’s giant multinational companies including slashing down turnover tax from the existing rate of 1.5 per cent to 0.5 per cent in the upcoming budget.
On a unanimous charter of demands presented by three chambers including Overseas International Chambers of Commerce and Industries (OICCI), Pakistan Business Council (PBC) and American Business Council (ABC) during their virtual meeting with Federal Minister for Finance Shaukat Tarin on Monday, they tabled 10 major demands and reduction in the turnover tax at the existing rate of 1.5 per cent was described as a matter of their survival so they demanded reducing it to 0.5 per cent in the upcoming budget. The FBR high-ups were also present in the meeting. All three chambers were unanimous in their demand that this turnover tax should be imposed on the basis of profits instead of turnover, but the government indicated to give consideration to reduce its rate. There was some specific sector where it was demanded that the rate of the turnover tax should be reduced to 0.25 per cent.

Afghanistan , United-states , Pakistan , Islamabad , American , Afghan , Shaukat-tarin , Abdul-razak-dawood , Pakistan-business-council , Economic-advisory-council , American-business-council , International-chambers-of-commerce

Govt to slash turnover tax from 1.5pc to 0.5pc

National
May 25, 2021
ISLAMABAD: The government is contemplating upon different options to provide relief to the country’s giant multinational companies including slashing down turnover tax from the existing rate of 1.5 per cent to 0.5 per cent in the upcoming budget.
On a unanimous charter of demands presented by three chambers including Overseas International Chambers of Commerce and Industries (OICCI), Pakistan Business Council (PBC) and American Business Council (ABC) during their virtual meeting with Federal Minister for Finance Shaukat Tarin on Monday, they tabled 10 major demands and reduction in the turnover tax at the existing rate of 1.5 per cent was described as a matter of their survival so they demanded reducing it to 0.5 per cent in the upcoming budget. The FBR high-ups were also present in the meeting.

Afghanistan , United-states , Pakistan , Islamabad , American , Afghan , Shaukat-tarin , Abdul-razak-dawood , Pakistan-business-council , Economic-advisory-council , American-business-council , International-chambers-of-commerce

Lockdown to be imposed if corona cases crossed 15pc: Fawad

Top Story
April 30, 2021
ISLAMABAD: Minister for Information and Broadcasting Fawad Chaudhry Thursday said that so far no decision been taken about lockdown but if ratio of the coronavirus positive cases reaches 15 percent, then there would be no option but to impose lockdown.
Fawad came hard on head of Pakistan Democratic Movement (PDM) Maulana Fazlur Rehman for trying to undermine the nation, the army and the national security institutions out of frustration over his political future.
Talking to media persons here along with Sindh Governor Imran Ismail, the minister noted that the Maulana said that Pakistan could not wage a war for a month was like his confusion that Taliban were not far away from the Margallah hills. “We fought them with full force and the nation stood strongly by the army and the security agencies. We proved this nation knows how to defend every inch of the motherland,” he noted. He called Maulana’s statement as irresponsible and claimed Maulana Fazalur Rehman was disappointed with his political future and in this frustration, he had been targeting national institutions. He made it clear that nobody should underestimate the valiant armed forces and law enforcement agencies, which defended every inch of the motherland and successfully checked the menace of terrorism.

Saudi-arabia , Pakistan , Islamabad , Maulana-fazlur-rehman , Maulana-fazalur-rehman , Imran-ismail , Imran-khan , Pakistan-democratic-movement , Broadcasting-fawad-chaudhry-thursday , Sindh-governor-imran-ismail , Prime-minister-imran-khan , Saudi-crown-prince-mohamed

IMF projects Pak growth rate at 1.5pc for current fiscal

Top Story
January 27, 2021
ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistanâs GDP growth rate at 1.5 percent for the current fiscal year 2020-21 compared to negative 0.4 percent for the previous fiscal year 2019-20.
The PTI led government has envisaged GDP growth rate target of 2.1 percent for the current fiscal 2020-21 with the expectation that the recovery of economic activities will help achieve the growth trajectory in the aftermath of overcoming COVID-19 pandemic.
The IMF had projected the GDP growth rate of positive 1.9 percent for Pakistan in the last fiscal year but after the outbreak of Coronavirus, the GDP growth had tumbled and stood at negative 0.4 percent for the fiscal year that ended on June 30, 2020.

Mexico , Malaysia , Nigeria , United-states , India , Islamabad , Pakistan , China , France , Turkey , International-monetary-fund

Tax collection on goods, services up 15pc in first half

Tax collection on goods, services up 15pc in first half
Business
January 20, 2021
KARACHI: The collection of withholding tax (WHT) on sale of goods and services increased 15 percent in the first half of this fiscal year, owing to improved economic activities after a letup in the first wave of coronavirus in that period, data showed on Tuesday.
The collection of withholding income tax increased to Rs17.77 billion during the first half of the current fiscal year as compared to Rs15.51 billion in the same half of the last fiscal year, according to official data of Large Taxpayers Office (LTO) Karachi.
Sources at the tax office said the second wave of the COVID-19 pandemic was still a major threat to economic growth prospects, adding, though the government had not imposed strict lockdown, services providers were facing challenges due to compliance of anti-virus SOPs (standard operating procedures).

Pakistan , Karachi , Sindh , Large-taxpayers-office , Pakistan-bureau-of-statistics , Pakistan-bureau , Large-scale-manufacturing , Collection , Goods , Services , 15pc