KARACHI: To promote research in the field of Accounting and Finance, the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Business Administration laid the foundation of ICAP-IBA Research Unit (IIRU). The two institutes expressed their intention to promote research and development in Pakistan by attracting and retaining outstanding scholars having research interest in the areas relevant to the…
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BEIJING/SHANGHAI – Four of China’s five largest state-owned banks said they have increased their provisions against bad debt to brace for future losses due to the impact of the global coronavirus pandemic. All five reported their biggest profit falls in at least a decade and an increase in soured loans when announcing their half-year results on Sunday and last week. The results highlight…
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Chocolate is leading the charge on the candy front as the coronavirus pandemic continues. A data-driven report from the National Confectioners Association shows that demand for chocolate has surpassed demand observed in the candy market overall from March 15, 2020 to Aug. 9, 2020. Between those five months, the premium chocolate market saw the largest growth with a sales spike of 12.5%. Non-premium chocolate, on the other…
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KARACHI: Chairman of the committee probing Independent power producers (IPPs) case, Muhammad Ali, on Monday said that successful negotiations between IPPs and the federal government would bring a halt to rising circular debt, ARY NEWS reported. Speaking during ARY NEWS programme, Power Play, he said that the IPP probe committee covered the entire power sector and pointed out excessive payments to…
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The federal government, upset about the failure of different ministries and divisions to appoint heads of state-run enterprises, has decided to conduct a study to unearth the stumbling blocks and streamline the recruitment process. According to a report shared by the Establishment Division with the Cabinet Committee on Institutional Reforms, 96 posts of heads of public sector companies had been…
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August 31, 2020: National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs 200 million on K-Electric for excessive load-shedding in Karachi. “The NEPRA Authority has imposed a fine of PKR. 200 million on K-Electric for carrying-out excessive load-shedding in Karachi during the months of June and July, 2020 and violating NEPRA Act, terms and conditions of its…
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