WhatsApp groups are abuzz with speculations about the possibility of a tax on share buybacks — an increasingly popular practice that lets listed companies purchase their own shares on the stock exchange to improve their market value. Firms that carried out share buybacks recently or are currently conducting the exercise include Netsol Technologies Ltd, Maple Leaf Cement Factory Ltd, Lucky Cemen
Service exports grew 4.63 per cent in the first quarter of the current fiscal year, mainly driven by information technology. In absolute terms, exports rose to $1.69 billion in July-September from $1.61bn a year ago, according to the latest data compiled by the Pakistan Bureau of Statistics. In September, the export of services dipped by 1.73pc to $565.96m from $575.94m in the same month las
The dollar remained unchanged at Rs227.75 on Saturday in the open market, unmoved by Finance Minister Ishaq Dar’s guarantee a day ago that the country had secured about $13 billion in additional financial support from two friendly countries, on top of assurances for about $20bn investments. However, dealers in the open market hoped the rupee would gain strength once the inflows began to land in
Twitter on Saturday updated its app in Apple's App Store to begin charging $8 for sought-after blue check verification marks, in Elon Musk’s first major revision of the social media platform. The change comes a week after Musk took over the social media company in a $44 billion deal. The billionaire entrepreneur and CEO of electric car maker Tesla (TSLA.O) cut half the staff at Twitter and h
The proceedings and recent remarks of the Supreme Court (SC) of Pakistan in the Reko Diq case have not inspired confidence in investors. They are hoping for more informed proceedings and a meritorious decision that serves development goals and projects Pakistan as a viable business destination. Some former bureaucrats and economists advised the court to be mindful of the interests and aspiratio