Daily Archives: September 16, 2020

Bombardier and Alstom Sign Definitive Agreement for Sale of Transportation Business

Sale based on enterprise value of $8.4 billion (EUR 7.15B), reflecting a post-MOU $350M (€300M) price reduction, offset by positive foreign currency impact Net proceeds to Bombardier expected to be ~$4.0B at closing Closing now expected in the first quarter of 2021, subject to customary closing conditions and remaining regulatory approvals All amounts in this […]

Pakistan Will Experience a Broad Economic Recovery in FY21: ADB

Pakistan is projected to experience a broad economic recovery in the fiscal year 2021, as the economic sentiment improves with the expected decrease in the instance of the COVID-19 pandemic and the resumption of structural reforms, Asian Development Bank (ADB) said in its latest report. The Asian Development Outlook (ADO) Update released today (Tuesday) revised

FBR Issues 2 SROs Revising Duty Drawback & Making Tax Exemption Certificates More Difficult

The non-resident persons or permanent establishment (PE) of non-resident persons have to go through a new cumbersome process at the tax offices to obtain certificates from the Federal Board of Revenue (FBR) for availing income tax exemption or a lower rate of tax, the authority announced on Tuesday. The FBR has notified SRO 863(1)/2020 to

Online Shopping in Pakistan Increased by 52% During Pandemic: Report

Displaying verified customer reviews, use of augmented reality, local currency payment options, ease of refunds, and a chat window as top confidence builders according to Visa Inc. survey A significant majority of Pakistani customers have shifted towards digital payment options since the outbreak of COVID-19, which improved their trust level in cashless payment solutions significantly.

Pakistan Expected to See Broad Economic Recovery in FY2021: ADB Report

Pakistan is projected to experience a broad economic recovery in fiscal year (FY2021) as the economic sentiment improves with the expected subsiding of the coronavirus (COVID-19) pandemic and the resumption of structural reforms, says an Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) revised the 2020 growth forecast for Pakistan to -0.4% and

Business community plays lifeline role in development of country: Shibli

Minister for Information and Broadcasting Senator Shibli Faraz says the business community plays a lifeline role in development of the country. He was addressing the inaugural ceremony of Auditorium Export Display Center at Islamabad Chamber of Commerce and Industry Wednesday. The Information Minister stressed the need of linkage between the business community and academia. He