The State Bank of Pakistan (SBP) has issued licenses to four financial institutions to enhance electronic payment systems, reflecting a sharp increase in e-payment adoption across the country.According to the SBP, these licensed institutions will participate in a six-month...
The Pakistan Stock Exchange (PSX) achieved a historic milestone today, crossing the 92,000-point mark for the first time, driven by strong investor sentiment.The KSE-100 Index surged by 1,212 points during trading, reaching an unprecedented level of 92,072 points and...
The dollar slid in Asia on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications...
Stocks hit an all-time intraday high above 91,300 points, mostly banking on the speculations of a substantial downward revision in policy rate by the central bank in the first week of November with macroeconomic outlook largely remaining positive.Pakistan Stock...
In a bilateral meeting with Prime Minister Shehbaz Sharif today in Abu Dhabi, President Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates pledged to invest $10 billion in various sectors of Pakistan while assuring the support...
For Pakistani students who are going to China to pursue academic degrees, Pakistan International Airlines (PIA) has provided a 20 percent discount.According to an airline spokesman, the national flag carrier has recently raised the luggage allowance to 60 kg. Currently,...
The United Arab Emirates (UAE) has launched a novel programme called "Blue Residency," which grants a 10-year visa to persons who have exhibited remarkable dedication to environmental preservation and sustainability endeavours.Advocates of environmental action, such as representatives of international...
A major turning point in Pakistan's digital banking industry has been reached with the strategic interoperability cooperation between U Microfinance Bank (U Bank) and Raqami Islamic Digital Retail Bank Ltd. (RIDBL). This relationship allows RIDBL users to access branch...
The International Monetary Fund (IMF) urges Pakistan to eliminate the salaried/non-salaried tax rate distinction and limit the number of rate slabs to four in order to rationalise individual tax rates.The IMF has pushed Pakistan to lower the maximum taxable...
The Pakistan-Saudi Arabia Investment Forum was founded by an Asian country seeking significant financial support from the Kingdom to strengthen its struggling economy.Pakistan has substantial business, investment, and economic potential, according to Saudi Deputy Investment Minister Ibrahim Almubarak during...
A groundbreaking PKR 10 billion partnership between U Microfinance Bank and Digitt+, a pioneer in agri-fintech, has been announced. This agreement establishes a new benchmark for financial cooperation in the agriculture industry. By combining U Bank's significant lending experience...
For the first quarter of 2024, Indus Motor Company Limited (PSX: INDU) recorded a noteworthy 38.3% year-over-year growth in profitability. Its profit after tax was Rs 4.45 billion , up from Rs 3.22 billion in the same time...
With the completion of the second review under the Stand-By Arrangement (SBA) for Pakistan on Monday, the International Monetary Fund (IMF) Executive Board cleared the way for an immediate transfer of about $1.1 billion, increasing the total amount disbursed...
The export performance of Pakistan's IT and IT-enabled services (ITeS) industry has been rapidly increasing lately. Export remittances for the industry reached $2.283 billion between July 2023 and March 2024, a significant increase of 17.37% over the $1.945 billion recorded...
Four special trains will be operated by Pakistan Railways to accommodate passengers during the Eid ul Fitr celebrations.To improve travel convenience and reduce passenger traffic, special trains departing from Lahore, Karachi, Peshawar, and Quetta will be available.Pakistan Railways CEO...
The oil refining firm Cynergico has announced intentions to update its operations in Pakistan in order to comply with international standards. The company's goal is to generate premium-grade gasoline and diesel products in order to increase profitability. Cynergico plans to...
According to Prime Minister Muhammad Shehbaz Sharif, the current USD 1 billion annual bilateral trade volume has the potential to increase significantly once the Pakistan-GCC (Gulf Cooperation Council) Free Trade Agreement takes effect.In a meeting with General Sheikh Mohammad...
Surgeons at the Pakistan Kidney and Liver Institute and Research Centre (PKLI), Lahore, have accomplished a significant milestone by performing the nation's first pancreatic and "split liver" transplants.The liver of a young man who was declared brain dead at...
Following the extraordinary floods that have affected residents of Gwadar and the interior of Baluchistan, Zong 4G has offered free services for all affected regions. Those who are impacted can sign up by calling *9090# to receive 20 on-net...
China has consented to keep Pakistan's $2 billion loan maturing under its current conditions.The $2 billion debt, which matures on March 23, 2024, contains an agreement to postpone payment, according to the Express Tribune. China has indicated informally that...
