Following a report of an intelligence agency, the Federal Board of Revenue (FBR) has sealed two sugar mills located in Central Punjab for serious breaches of statutory provisions. Taking action on the same report of the intelligence agency, the FBR had suspended six Inland Revenue officials, deputed at the mills. The enforcement action was taken following violations of Section 40C of the Sal
Gold rose on Tuesday to recover from a two-week low hit in the previous session on year-end profit-taking that sparked a broad pullback in precious metals from earlier peaks. Spot gold was up 0.7% at $4,363.79 per ounce, as of 0322 GMT, after hitting a record high of $4,549.71 on Friday. It fell to its lowest since December 17 on Monday, also its sharpest daily loss since October 21. US g
Oil prices retreated a touch early on Tuesday after rising more than 2% in the previous session, partly driven by spillover from a pullback in precious metals even as escalating Russia–Ukraine tensions left markets grappling with supply disruption fears. Brent crude futures for February delivery , which expires on Tuesday, were down 21 cents, or 0.3%, at $61.73 a barrel as of 0150 GMT. The m
The Pakistani rupee strengthened against the US dollar, appreciating 0.08% during the opening minutes of trading in the inter-bank market on Tuesday. At 10:30am, the local currency was hovering at 279.95, a gain of Re0.21 against the greenback. On Monday, the local unit closed at 280.16. Globally, the US dollar was steady on Tuesday ahead of the Federal Reserve’s release of its December m
Stocks kicked off the final week of the year with a bang, with the benchmark KSE-100 Index crossing the 174,000 level during the opening hours of Monday’s session. Strong momentum was observed during the day, pushing the benchmark KSE-100 Index to an intra-day high of 174,411.72. At 11:30am, the benchmark index was hovering at 173,669.86, an increase of 1,269.13 points or 0.74%. Buying in