Accounting News
Economic and Finance News
Displaying items 1-15 from a total of 1815 item(s).
NBP and Standard Chartered Bank Announce 2011 Financial Results
ISLAMABAD (March 08, 2012) - National Bank of Pakistan (NBP) and Standard Chartered Bank (SCB) have today announced financial results for the year ended December 31, 2011 according to which these banks have posted profits of Rs 17.60 billion and Rs 5.44 billion respectively.
Published on 3/8/2012
SECP Issues Clarification on Broker-to-Broker Trading of Same Exchange
KARACHI (March 08, 2012) - The Securities and Exchange Commission of Pakistan (SECP) has issued some clarifications regarding the transactions between the brokers of the same stock exchange and asked stock exchanges to review their respective regulations for proprietary trading to remove any anomalies/inconsistencies therein to bring them in line with the spirit of the subject directive.
Published on 3/8/2012
HSBC Sells its Insurance Business in Asia and South America
HONG KONG (March 07, 2012) - Banking giant HSBC has announced that it has agreed to sell its general-insurance businesses in Hong Kong, Singapore, Argentina and Mexico for around $914 million. The move is part of the bank's strategy to cut costs and focus on growth, HSBC Group Chief Executive Stuart Gulliver said in a statement to the Hong Kong stock exchange.
Published on 3/7/2012
FBR Partially Implements Taxpayer Ledger System
ISLAMABAD (March 07, 2012) - The Federal Board of Revenue (FBR) has partially implemented taxpayer ledger system as all the tax-related transactions other than tax returns and tax payments are currently not being captured through the ledger system.
Published on 3/7/2012
Bank Alfalah Records Rs.3.5 billion in Net Profits for CY11
KARACHI (March 05, 2012) - Bank Alfalah Limited (BAFL) recorded Rs.3.5 billion in net profits in CY11, nearly 3.6 times higher than the previous year. BAFLs mark-up revenues jumped by 18 percent to Rs.44 billion in CY11 relative to the previous year although the detailed accounts are not available at the moment. It seems that the Bank has benefited from expansion in its asset base, stemming from growth in its investments portfolio.
Published on 3/5/2012
UBL Records Substantial Growth from Last Year
KARACHI (February 23, 2012) - In line with market expectations, United Bank Ltd (UBL), the country's third largest commercial bank, managed to record outstanding growth in its bottom line in CY11 compared to the last year. The Banks mark-up revenues managed to exhibit an impressive growth, likely due to a massive expansion in its investment portfolio.
Published on 2/23/2012
Revenue Collection Increased by 27.4 percent in July-September 2011: FBR
ISLAMABAD (October 04, 2011) - The Federal Board of Revenue (FBR) has realized a total provisional collection of Rs.373.819 billion during the first quarter of July-September 2011-12 showing an overall increase of 27.4 percent as compared to same period of last fiscal year.
Published on 10/4/2011
SECP Seeks Comments on Draft of Fertilizer Industry (Cost Accounting Records) Order, 2011
KARACHI (October 03, 2011) - The Securities and Exchange Commission of Pakistan (SECP) has sought objections or suggestions from stakeholders in next thirty days about the draft of Fertilizer Industry (Cost Accounting Records) Order, 2011, issued vide SRO 852-I-2011.
Published on 10/3/2011
Salient Features and Highlights of the Federal Budget 2011-12
ISLAMABAD (June 03, 2011) - The federal budget for the fiscal year 2011-2012 was announced on Friday. Following are its salient features and highlights:
Published on 6/3/2011
Highlights of the Economic Survey of Pakistan 2010-11
KARACHI (June 02, 2011) - The Ministry of Finance has today released the annual Economic Survey for the year 2010-11 which reports on the performance of the Pakistani economy. Following are its salient features and highlights.
Published on 6/2/2011
SECP Approves Futures Contract in Cotton for Commodities Market
ISLAMABAD (May 06, 2011) - The Securities and Exchange Commission of Pakistan (SECP), as part of its mandate to develop and strengthen the commodities market, has granted approval to the Pakistan Mercantile Exchange Limited (PMEX) for introduction of the futures contract in cotton.
Published on 5/6/2011
SECP Registered 338 Companies in April 2011
ISLAMABAD (May 03, 2011) - The Securities and Exchange Commission of Pakistan (SECP) has registered 338 companies in April 2011, whereas 342 companies were incorporated last month and 322 in the corresponding month of last year.
Published on 5/3/2011
Meezan Bank Records 61% Growth in Quarterly Post-tax Profit
KARACHI (May 02, 2011) - Meezan Bank recorded 61% growth in its post-tax profit for the quarter ended March 31, 2011. A statement said here on Monday that the Profit after tax for the quarter increased to Rs.586 million as compared to Rs.364 million in the corresponding quarter last year.
Published on 5/2/2011
FBR Gives Inland Revenue Officials Power to Demand Tax Record
ISLAMABAD (November 15, 2010) -The Federal Board of Revenue (FBR) has empowered all officials of Inland Revenue, authorised by the concerned commissioner, to direct taxpayers for submitting tax records/documents to conduct sales tax audit under section 25 of the Sales Tax Act, 1990.
Published on 11/15/2010
SECP Extends Validity Periods of CRS and CEES
ISLAMABAD (November 02, 2010) - The Securities and Exchange Commission of Pakistan (SECP) has further extended the validity period of the Companies Regularisation Scheme (CRS) and the Companies Easy Exit Scheme (CEES) for another month, up to November 30, 2010, according to its Circular No 25 of 2010, its press release on Monday said.
Published on 11/2/2010
