MUMBAI: Public sector banks have collected Rs 8,495 crore over five years from depositors who did not have enough money in their savings accounts by way of fines for not maintaining minimum balance. This works out to an average of Rs 1,699 crore a year and is more than what govt has budgeted for incentivising…
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Getty Images Rachel Reeves claims the Tories masked the true state of UK public finances then “ran away”. The chancellor is set to announce immediate cuts worth billions of pounds, aimed at plugging a £20bn black hole in the finances, when she addresses Parliament on Monday. Rachel Reeves’ plans are expected to include the cancellation…
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Pakistan is anticipated to secure a rollover of $9 billion in debt from China and Saudi Arabia for the fiscal year 2024-25. In addition, Pakistan is seeking funding for the Diamer-Bhasha Dam project. Sources from the Ministry of Economic Affairs indicate that Pakistan expects a $500 million facility from the Islamic Development Bank for oil…
Gold prices increased in Pakistan following upward trend in the global market, according to local association. Following a dip on Tuesday, the local price per tola climbed by Rs2,300 to reach Rs252,800. The 10-gram gold also saw an increase, selling at Rs216,735, up by Rs1,972, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA)….
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Finance Minister Nirmala Sitharaman is set to create history when she presents her seventh straight Budget on Tuesday for the fiscal 2024-25, surpassing the record of former prime minister Morarji Desai. In the build-up to the Union Budget, economist and author Dr Rajiv Kumar, Chairman, Pahle India Foundation, and former Vice Chairman, NITI Aayog, shares…
New Delhi: Several Flights at Indian airports faced delays on Saturday due to a global tech outage caused by an update to Microsoft’s cloud services on Friday. Although reports suggested that the outage had been resolved, problems persisted at Delhi and Chennai airports. Passengers experienced long queues at check-in counters, slow check-ins and the DigiYatra…
Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email A private equity firm is plotting a takeover bid for The Telegraph newspaper group, following Daily Mail owner Lord Rothermere’s withdrawal last week. Telegraph Media Group is seeking a buyer after its proposed…
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Income Tax Slabs FY 2023-24 rebate under new tax regime: Under the new tax regime, taxpayers with a net taxable income of up to Rs 7,00,000 are eligible for a rebate of up to Rs 25,000. Furthermore, individuals whose net taxable income surpasses Rs 7,00,000 can still avail marginal relief, provided that the additional income…
16 hours ago By Kevin Peachey, Cost of living correspondent Getty Images Competition between mortgage lenders has intensified ahead of a key decision on interest rates by the Bank of England. A host of lenders have made reductions to the cost of new fixed-rate mortgages in recent days. Brokers expect further cuts to come, but mortgage rates…
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ISLAMABAD: As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilise its chronically ailing economy, the global lender has suggested imposition of a standard individual income tax rate of up to 45% on agriculture income – something that may end the disparity in income tax regime without the need to amend…
Read More “IMF proposes 45% tax on agriculture income | The Express Tribune” »
