SBP received US$ 700 million
The total liquid foreign reserves held by the country stood at US$ 9,267.9 million as of 24-Feb-2023. The break-up of the foreign reserves position is as under: Foreign reserves held…
Interest rate hikes and the dollar’s historic highs are devastating, KATI
President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman expressed serious concern about the State Bank increasing the interest rate by 3 percent to a level of 20 percent…
President KCCI worried over a sharp increase in the dollar, reaching Rs285.
President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf, while expressing deep concerns over the continuous devaluation of the rupee against the dollar, which reached a new all-time high of Rs285 by appreciating…
Unfair taxes lead consumers to shift towards illicit cigarettes.
Despite the proliferation of illegal cigarettes in the country, the extraordinary increase in FED has raised new questions about the government's revenue targets to raise Rs 170 billion in additional…
VEON’s Mobilink Bank becomes First Microfinance Bank Globally
The GSMA Connected Women Commitment Initiative was set up in 2016 to accelerate digital and financial inclusion for women across Africa, Asia, and Latin America. Since the inception of the…
A positive session was witnessed at PSX today
· A positive session was witnessed at PSX today. The benchmark KSE-100 index opened in the green as the bulls kept drifting the market within positive zone during most of the…
A joint seminar of SMEDA and BIPP recommends revising the fiscal system.
Dr Shahid Javed Burki, World renowned political economist and former finance minister, has emphasised enhancing the ratio of domestic savings, tax collection and investments in the SME sector for sustainable…
Pakistan is mulling over the carriage of the good act by sea1924 and getting replaced bill of lading act 1856
By Capt. Asim Iqbal Ministry of Maritime Affairs, Govt of Pakistan is contemplating fine-tuning the bill duly amended by the protocol of carriage of goods by sea act bill and…
SBP increased the interest rate from 17% to 20%- above the market expectation.
At its meeting held on 2nd March 2023, the Monetary Policy Committee (MPC) decided to increase the policy rate by 300 basis points to 20 percent. During the last meeting…
Ufone 4G launches Super Card 899 for nonstop connectivity and unlimited calls
Pakistani telecom company, Ufone 4G is proud to announce the launch of 'Super Card 899', a new addition to its Super Card portfolio that aims to bring more value, ease,…
PTCL works with Vodafone to introduce end-to-end IoT Solutions in Pakistan
Pakistan Telecommunication Company Limited (PTCL) and Vodafone have agreed to cooperate to bring Vodafone's industry-leading IoT products, services and solutions to the Pakistani market. PTCL and Vodafone will collaborate to…
Karandaaz Pakistan signs data sharing agreement with TASDEEQ Credit Bureau
Karandaaz Pakistan signed a data sharing agreement with TASDEEQ, a private credit bureau operating in Pakistan. By joining hands with TASDEEQ, Karandaaz will be enhancing the data offered through its…
META partners with PTA, TDAP and Pakistani content creators to help prevent e-commerce scams
Meta has partnered with the Pakistan Telecommunication Authority (PTA) and the Trade Development Authority of Pakistan (TDAP) to raise awareness about e-commerce scams and share tips on how to stay…
BankIslami announced 142% growth in profit before tax and a first-ever dividend.
BankIslami Pakistan Limited ('the Bank' or 'BankIslami') announced its financial results for the year ended December 31, 2022 declaring a remarkable growth of 142% in profit before tax i.e. Rs.…
PCA delegation visit SBP to discuss irritants in the import of raw materials
Pakistan Coating Association (PCA) delegation, headed by its Chairman, Mr Siraj Uddin, visited SBP to discuss irritants in the import of raw materials. The objective of PCA was to apprise…
Feb’23 CPI: Inflation keeps rising
· Headline inflation for the month of Feb'23 clocked in at 31.5%YoY, taking the 8MFY23 average inflation to 26.2%. On a MoM basis, the inflation was recorded at 4.3%MoM—the highest monthly…
Nepra conducts a public hearing on KE’s Investment Plan 2023-2030
The National Electric Power Regulatory Authority (NEPRA) conducted a public hearing today on KE's 7-year investment plan in transmission and distribution. The hearing was held in Islamabad with many attendees…
PSX February performance review by experts.
The KSE-100 index closed flat this month at 40,510 points, down by 163pts / 0.4% MoM. With the SBP reserves continuing to show weakness, the Pak Rupee touched its all-time…
Pakistan and Germany launch a project to strengthen Pakistan’s climate adaptation and resilience.
In an effort towards enhancing the country's ability to cope with the impact of climate change, particularly in vulnerable communities and sectors such as health, agriculture, and water, sanitation and…
Green Crescent Trust to raise funds for the schooling of over 30,500 children
Noteworthy people from different walks of life will attend an event in Karachi on Friday to reaffirm their commitment towards the cause of education for all children in Pakistan. The…
Strict measures should be taken to control artificial inflation: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday asked why the prices…
Pak-Qatar Family Takaful Partners to promote its products to wider audiences
Pak-Qatar Family Takaful has partnered with Takaful Bazaar as this partnership aims to promote and offer Shariah Compliant products as well as to smooth the customer handling journey via technology…
Bank Alfalahhas partnered with KRT to fund the construction of low-cost sustainable housing.
Bank Alfalah, the biggest corporate donor for the flood-affected communities, has partnered with Karachi Relief Trust (KRT) to fund the construction of low-cost sustainable housing for PKR 50 million. Bank…
Another range-bound session was recorded at the PSX today.
· Another range-bound session was recorded at the PSX today. The market started in the negative zone and continued to trade in the negative territory for the majority of the trading…
NCL company posted a Loss of PkR1.7bn
Nishat Chunian Limited (NCL) posted its 2QFY23 financial result earlier today, wherein the company posted a Loss of PkR1.7bn (LPS: PkR7.1)—substantially lower than our estimates of a loss of PkR0.19/sh.…
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