US President Donald Trump backed away on Sunday from his threat to slap 50 per cent tariffs on imports from the European Union next month, agreeing to extend the deadline until July 9 for talks between Washington and the 27-nation bloc to produce a deal. Trump on Friday said he was recommending a 50pc tariff go into place on June 1 because of frustration that talks with the EU were not moving q
Promising simplified tax returns for the salaried class, Finance Minister Muhammad Aurangzeb on Monday pledged that the upcoming federal budget would introduce “bold measures” to steer the national economy in a strategic direction and make available whatever support is required by the armed forces. Talking to journalists after an event organised by the Pakistan Banks Association and Karan
The Ministry of National Food Security and Research has decided that a data collection and monitoring mechanism will be established to ensure transparency and efficiency in the sugar sector. The decision was taken during a meeting on Monday to review and assess the current situation of sugar stocks. The system will be instrumental in accurately tracing the production and yield of sugarcane acro
European Central Bank President Christine Lagarde on Monday said the global economic order backed by the US dollar was “fracturing” and made a pitch for the euro as a global reserve currency. “The global economy thrived on a foundation of openness and multilateralism underpinned by US leadership,” Lagarde said in a speech at the Hertie School in Berlin. Washington’s support for a rules-based
The Punjab government is proactively strategising for the upcoming fiscal year with a strong focus on bolstering provincial resources and enhancing revenue generation. This was evident in the second meeting of the Cabinet Committee on Resource Mobilisation, held on Monday in the Finance Department’s Committee Room. Punjab Finance Minister Mujtaba Shuja-ur-Rehman chaired the session, which wa