Unlike local research house earlier expectations, the 100 Index failed to find any support in today’s session and traded sharply lower amid shrinking market participation as concerns on upcoming budgetary measures (implementation of stringent austerity measures aimed at improving fiscal management and revenue mobilization) kept the market in Risk Off mode.
The total liquid foreign reserves held by the country stood at US$14,889.9 million on 31May2019.The break-up of the foreign reserves position is as under: –
Foreign reserves held by the State Bank of Pakistan: US$ 7,862.4 million
Net foreign reserves held by commercial banks : US$ 7,027.5 million
Total liquid foreign reserves : US$ 14,889.9 million
During the week ending 31May2019, SBP’s reserves decreased by US$148 million to US$7,862.4 million, due to payments on account of external debt servicing.
The International Air Transport Association (IATA) announced that Lufthansa Group Chief Executive Officer, Carsten Spohr, has assumed his duties as Chairman of the IATA Board of Governors (BoG) for a one-year term effective from the conclusion of the 75th IATA Annual General Meeting in Seoul, Republic of Korea.
The International Air Transport Association (IATA) 75th Annual General Meeting (AGM) unanimously approved a resolution on slot policy, to reaffirm the importance of a harmonized global airport slot system and called upon governments to urgently address capacity shortages.
More than 200 airports worldwide are Level-3 slot coordinated, meaning that they have insufficient capacity to meet current demand.
The International Air Transport Association (IATA) 75th Annual General Meeting (AGM) unanimously approved a resolution to improve the air travel experience for the estimated one billion people living with disabilities worldwide.
The AGM confirms the commitment of airlines to ensuring that passengers with disabilities have access to safe, reliable and dignified travel, and calls upon governments to use IATA’s core principles for accommodating passengers with disabilities.
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said FBR should be given realistic the target for the next fiscal.
Central Depository Company has urged businessmen who have opted for Sales Tax Refund payments through Refund Bonds to urgently open up Sub Account or Investor Account with Central Depository Company of Pakistan Limited (CDC) in order to get Sales Tax Refund payments through Refund Bonds.
Special Representative for Afghanistan Reconciliation Ambassador Zalmay Khalilzad visited Islamabad on June 2 and held discussions with Pakistani leadership on developments in the Afghan peace process. Ambassador Khalilzad met Prime Minister Imran Khan, MFA Additional Secretary Aftab Khokher and Chief of Army Staff General Qamar Bajwa.
The Pakistan Met department issued a heat wave warning last week, predicting that temperatures in the city may soar to as high as 42 degrees in the coming days, and advised all stakeholders to take preventive measures. During the day when the temperatures are at its peak, use of wet towels will ensure that body temperature do not rise, and are able to bear their fast easily.
The Apex Committee for Student Loan Scheme having representation from State Bank of Pakistan, Finance Division (Government of Pakistan) and five major banks (NBP, HBL, UBL, ABL and MCB Bank) has approved Rs 51.987 million as interest-free loans to deserving students for their current year of studies within Pakistan.
The boxing icon and global sporting phenomenon Amir Khan will make history when he goes up against the formidable Neeraj Goyat in a fight taking place in the Kingdom of Saudi Arabia on Friday, 12th July in 2019. This was disclosed in a grand press conference held in Karachi.
The First Round of Pakistan-Turkey Counter Terrorism Consultations was held in Ankara on 31 May 2019. The Pakistan delegation was led by Mr. Ahmad Farooq, Director General (Counter Terrorism), and the Turkish side was headed by Ambassador Aylin Tashan, Director General for Research and Security.
In line with its commitment to provide maximum relief to its customers, all residential power consumers will remain exempt from load-shed during the Eid holidays. According to a KE spokesperson, “As part of summer preparedness, we have strengthened our network and system and have beefed up the on-ground work force through capacity building and technological advancement.
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said amnesty scheme is an effort to expand the documented economy.
As part of its Corporate Social Responsibility (CSR) movement “Share to Care”, BankIslami, one of Pakistan’s leading Islamic banks recently visited Edhi Children Home in Korangi, Karachi. The Bank’s staff visited the Edhi Welfare Centre to spread the spirit of benevolence in this holy month of Ramzan where they spent time with children, had Iftar with them and distributed Eidi and new clothes for Eid.
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