Business News
Tuesday, June 07, 2011 18:08
- Share prices at KSE gain on fresh buying
government did not remove a capital gains tax on individual investments. (Reuters)
- SED abolished, but wait until July for relief
- Dollar firms against yen
- Asian markets mostly lower as US fears persist
- KSE declines by 25 points
Dealers said they expected the market to remain steady in the near-term, before regaining positive momentum. (Reuters)
- Asian shares down on dismal US figures
- Euro firmer against dollar
- Oil mixed in Asia ahead of OPEC meeting
- Defence expenditures should also be accounted for: FM
As regards agriculture tax, federal finance minister said that the recovery of agriculture tax was unsatisfactory and we should hope that the provincial government would be making some headway in this regard. He further said that Sindh recovered Rs500 million from agriculture, but it fell down to Rs150 million in 2010.
- Rs31b burden due to tax-net expansion added
Forex & Gold 08, June 2011
Forex Update:
KARACHI, June 07: The Pakistani Rupee was traded at 86.1 to the US Dollar in the open market. (Bureau Report) (Updated @ 15:30 PST) Spot Rates for public per unit of currency
Exchange Rates for Currency Notes
Bullion Rate in Rupees per 10 gms.
Spot rates for public per unit of currency
June 7, 2011
Countries Selling Buying Buying
T.T & O.D T.T Clean O.D/T.Chq
U.S.A. 85.9 85.7 85.48
U.K. 140.41 140.08 139.7
Euro 125.42 125.13 124.76
Canada 87.67 87.47 87.24
Japan 1.0712 1.0687 1.0659
Saudi Arabia 22.91 22.85 22.79
Hong Kong 11.04 11.02 10.99
U.A.E. 23.39 23.33 23.27
Source:-APP
SECP registers 344 companies
ISLAMABAD, June 7: The Securities and Exchange Commission of Pakistan (SECP) registered 344 companies during May, compared to registration of 338 companies in April, while the corporate sector regulator registered 285 companies in May 2010.
Of the 344 companies, private companies had the major share of 305 companies, other companies include 25 single-member companies, 5 public unlisted companies, 7 non-profit associations, 1 company limited by guarantee and 1 foreign company.
A spokesman of the SECP has said that growing trend in incorporation of new companies has been witnessed continually since November.
The Company Registration Office (CRO) in Lahore registered 106 companies followed by the CROs in Islamabad and Karachi registering 97 and 86 companies respectively. The CROs in Multan, Peshawar, Faisalabad, Quetta and Sukkur registered 19, 16, 11, 8 and 1 companies respectively.
The sector-wise breakdown of the 344 companies shows that 60 companies were registered in trading, followed by 38 in services, 25 in IT, 21 in construction, 19 in communications, 17 each in Haj and Umrah services, and corporate agricultural farming, 13 in transport, 12 in tourism, 11 in education, 10 in textile, 8 each in power generation, and broadcasting and telecasting.
The authorised capital and paid-up capital of the companies is Rs2543.2 million and Rs729.61 million, respectively.
Mohammed Saleem Mansoori
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