Economic and Finance News
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SBP announces exposure limit reduction process for banks
KARACHI (January 20 2009): As part of banking reforms, the State Bank of Pakistan has provided a roadmap for banks…
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FBR merges direct tax, sales tax and federal excise into one department
ISLAMABAD (January 16 2009): The Federal Board of Revenue has merged direct tax, sales tax and federal excise into one…
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SBP orders banks to make POL-related foreign exchange purchases from interbank
KARACHI (January 16 2009): The State Bank of Pakistan on Thursday announced that all purchases of foreign exchange relating to…
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Morgan Stanley and Citigroup to merge brokerage operations
NEW YORK (January 15 2009): Citigroup and Morgan Stanley announced plans Tuesday to merge the world-wide brokerage operations of the…
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FBR cuts depreciation to one percent on Import of old, used vehicles
ISLAMABAD (January 15 2009): The Federal Board of Revenue (FBR) has reduced depreciation from two to one percent on import…
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FBR considering set up of separate withholding tax functions in RTOs
ISLAMABAD (January 12 2009): The Federal Board of Revenue (FBR) is examining a proposal to set up a separate function…
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SECP amends Companies Ordinance to Allow Listed firms to Buy Back Shares
ISLAMABAD (January 11 2009): The Securities and Exchange Commission of Pakistan (SECP) has allowed listed companies to buy back their…
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SECP proposes changes in Modaraba Ordinance 1980
ISLAMABAD (January 10 2009): The Securities and Exchange Commission of Pakistan (SECP) has decided to amend Modaraba Ordinance 1980 to…
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SECP sets new criteria for valuation of debt securities
ISLAMABAD (January 10 2009): The Securities and Exchange Commission of Pakistan (SECP) has unveiled a fresh criteria for valuation of…
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SBP says that Islamic banking failed to penetrate rural areas
KARACHI (January 04 2009): Although the performance and pace of branch extension by Islamic banking institutions (IBIs) seems impressive, they…
