Economic and Finance News
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Application of IAS-17 to modarabas deferred
KARACHI: Securities and Exchange Commission of Pakistan (SECP) has absolved modaraba companies – engaged in operating lease business – from…
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MCB earns Rs 2.23 billion, declares 10 percent bonus
KARACHI (February 17 2004): The profit of the Muslim Commercial Bank Limited (MCB) for the year ended December 31, 2003…
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Franchise arrangements for exchange companies laid down
KARACHI (February 15 2004): The State Bank of Pakistan (SBP), in order to facilitate the exchange companies which have been…
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MCB may announce 27 percent profit growth on February 16
KARACHI (February 16 2004): The banking giant, Muslim Commercial Bank, might record a growth of as much as 27 percent…
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'Section 40-B not misused to check Sales Tax evasion'
ISLAMABAD (February 16 2004): The Central Board of Revenue (CBR) has not yet exercised option under Section 40-B of the…
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National Stock Exchange to be formed to integrate all trading activities
ISLAMABAD (February 14 2004): Chairman Islamabad Stock Exchange (ISE), Omer Iqbal Pasha on Friday said that they were heading towards…
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Eurobond issue heavily oversubscribed
ISLAMABAD (February 12 2004): A long list of diversified investors was offering $ 1.8 billion for $ 500 million Pakistan…
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Sales tax concession: Revenue Board rectifies communication glitch
ISLAMABAD (February 12 2004): To discourage deliberate delay in payment of sales tax, the Central Board of Revenue (CBR) has…
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Corporate Banking Regulations amended
KARACHI (February 11 2004): The State Bank on Tuesday made amendments in the Prudential Regulations for Corporate and Commercial Banking.…
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Rules for Banks and DFIs: brokerage subsidiaries be kept at arms length
KARACHI (February 11 2004): The State Bank on Tuesday emphasised the need to ensure that the relationship between a bank…
