Business360

Despite Covid pandemic and a consequent trend of an overall decline in the South Asia region, Pakistan has progressed one spot in the Belt and Road Infrastructure Development Index (2021) and claimed 5th position globally in infrastructure development, ARY News reported. In the annual report on the Beijing based development and progress of countries part of one belt one road project, performances of 71 countries were covered including 63 nations involved in the Belt and Road Initiative (BRI). The Report, jointly published by the China International Contractors Association (CHINCA) and the China Export and Credit Insurance Corporation, was released late last month at the 12th International Infrastructure Investment and Construction Forum (IIICF) held for two days in Macao. Southeast Asia ranked first among the seven regions, the report said. Indonesia, Malaysia, the Philippines, and Vietnam taking the top four places. The Central and Eastern European regions ranked at the bottom main

ISLAMABAD: The Federal Board of Revenue (FBR) collected net revenue of Rs413 billion in the first month of the fiscal year 2021-22, showing about 36 per cent growth over the collection of Rs303bn during last year’s corresponding period. According to provisional data, July’s tax collection surpassed the target of Rs342bn by Rs71bn. The FBR said it disbursed refunds amounting to Rs20bn compared to Rs15.7bn paid last year, showing an increase of 26.6pc. “This is reflective of FBR’s resolve to fast-track refunds to prevent liquidity shortages in the industry despite facing the challenge of fourth wave of COVID-19,” it pointed out. Income tax returns for tax year-2020 reached 3.53 million compared to 2.72 million in tax year-2019, showing an increase of 30pc. Also Read: PM KHAN COMMENDS FBR ON RECORD TAX COLLECTION OF RS410B IN JULY The tax deposited with returns was Rs51bn compared to Rs33bn last year, showing an increase of 54pc. The tax collecting body said 11,744 point of sale ter

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has hiked the price of Liquefied Petroleum Gas (LPG) once again up to Rs9.58 per kilogram, ARY News reported on Saturday. According to a notification, the price of an 11.8 kg LPG cylinder for domestic consumers has been jacked up to Rs113 to Rs2002. The new prices will come into effect from August 1. The federal government announced on Friday new prices of petroleum products for a fortnight with effect from August 1. Read More:  GOVT JACKS UP PETROL PRICE BY RS1.71 PER LITRE Taking to Twitter, Dr Shahbaz Gill, the special assistant to the PM on political affairs, said the government is going to jack up the price of petrol by Rs1.71 per litre. The rate of diesel was not being hiked because any increase in diesel price takes toll on the common man and farmers, due to which a proposal for the increase was rejected. Earlier, the Oil and Gas Regulatory Authority (Ogra) forwarded a summary to the Petroleum Division seeking revision

Millions of Americans could find themselves homeless starting Sunday when a nationwide ban on evictions expires, even as billions in government funds meant to help them go untapped. The wave of evictions would come as the fast-spreading Delta variant has taken hold in the country and rental housing is in high demand in the hot real estate market. US President Joe Biden on Thursday urged Congress to extend the 11-month-old eviction moratorium, after a recent Supreme Court ruling meant the White House could not extend the measure through September as intended. Democratic leaders in Congress were pushing for an extension, but it was unclear if they had the votes, even among moderates in their own party, to prevent the ban from expiring. Efforts stalled on Friday in the House after a move to pass the extension was unsuccessful, with House Speaker Nancy Pelosi saying in a statement, that “not a single Republican would support this measure.” The day before, she had said called the exten

An Illinois jury on Friday refused to hold Johnson & Johnson liable for a woman’s death from ovarian cancer, which her family blamed on decades of using its talc-based powders. Relatives of the late Elizabeth Driscoll had sought up to $50 million in damages, saying J&J knew its baby powder and Shower to Shower products were dangerous. Driscoll died in September 2016 at age 69, eighteen months after being diagnosed with ovarian cancer. The lawsuit was brought by her niece Colleen Cadagin, who oversees her estate. Jurors in St. Clair County, Illinois ruled for J&J after a three-week trial. In a statement, J&J said the verdict reflected the jury’s “careful consideration of the science and facts presented,” while adding that “we deeply sympathize with anyone suffering from cancer and know they are seeking answers.”   Leigh O’Dell, who represented Driscoll’s family, said the evidence linking genital talc to ovarian cancers remains overwhelming. “This decision will not

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said social media giant Facebook has launched a “marketplace” for Pakistani entrepreneurs. “I am happy to see that after Amazon, Facebook has also launched market-place for Pakistan,” he tweeted. He said it would encourage small entrepreneurs to sell online. “Such opportunities during COVID-19 could be a lifeline for micro enterprises,” Razak went on to say. “It is also helpful for women entrepreneurs who want to engage in market activity by buying and selling in the community of friends, family and networks. A first step towards eCommerce.” It is also helpful for women entrepreneurs who want to engage in market activity by buying and selling in the community of friends, family and networks. A first step towards eCommerce. @aliya_hamza #Pakistan #ecommerce #SMEs #women #PakistanMovingForward #entrepreneurs — Abdul Razak Dawood (@razak_dawood) July 30, 2021 Earlier, on May 21, the

Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority (RTA), revealed that the total revenues of RTA collected via digital channels amounted to AED2.655 billion in 2020. The number of digital transactions reached 527.146 million, the number of registered users on digital platforms hit 2.162 million, and the number of smart apps downloads clocked 6.136 million in the same year. Al Tayer also stated that the rate of digitisation of RTA’s transactions exceeded 91%, and customers happiness rating index recorded 96.2%. He also added that RTA’s digitisation drive contributed to reducing the number of transactions processed at customers happiness centres by 64.5% in 2020 compared to 2019. “Achieving these indicators is a result of RTA’s implementation of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE, Ruler of Dubai, and the instructions of His Highness Sheik