Saif Anjum briefed the Senate Standing Committee on the decision and presented proposals to the panel to shut down utility stores. The proposals, prepared by the rightsizing Committee, include shutting down utility stores and other entities to reduce expenses. According to sources, the federal government lacks funds to operate the stores, leading to the decision […]
According to a statement issued by the central bank, Pakistan’s reserves held by the SBP increased by 19 million to US$ 9.29 billion during the week ending on 16th August. Meanwhile, the country’s net foreign reserves held by commercial banks stood at $5.375 billion during the period. “During the week ended on 16-Aug-2024, SBP reserves […]
A total of 804,261,249 shares were traded during the day as compared to 552,564,507 shares the previous day, whereas the price of shares stood at Rs 16.975 billion against Rs 14.590 billion on the last trading day. As many as 473 companies transacted their shares in the stock market, 261 of them recorded gains and […]
The data showed that the inflows of remittances during July were recorded at US$ 161 million as compared to US$ 200 million in June 2024. These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan. The […]
The partnership, announced shortly after a signing ceremony, will see Qatar Airways gain two seats on Airlink’s board while remaining a non-controlling shareholder. According to Airlink CEO Rodger Foster, the collaboration will enhance connectivity between the Doha hub and additional markets in South and East Africa, where Airlink has a strong presence. Qatar Airways already […]
Authorities announced environmental approvals for SunCable’s US$24 billion project in Australia’s remote north that is slated to power three million homes. The project, which will include an array of panels, batteries, and eventually, a cable linking Australia with Singapore, is backed by tech billionaire and green activist Mike Cannon-Brookes. “It will be the largest solar […]
The prime minister, chairing a meeting to review the measures for the elimination of smuggling, reiterated that the government would never allow the smugglers to damage the national economy. He said the government utilized modern technology to curb smuggling and instructed to apprehend the people involved in smuggling, and their facilitators and confiscate the transport […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.70 and Rs 280.40 respectively. The price of the Euro increased by 89 paise to close at Rs 308.38 against the last day’s closing of Rs 307.49, according to the State […]
PM Shehbaz issued these directives while chairing a review meeting on Chinese investment in Islamabad, where he was briefed on the Chinese experts’ delegation visit to Pakistan from July 30 to August 6, 2024. The forum was told that the Chinese delegation met with representatives from various ministries, who offered suggestions to enhance cooperation in […]
The Federal Aviation Administration is requiring inspections after a report “of uncommanded movement of the captain’s seat in the forward direction that caused a rapid descent,” the agency said in a statement. Operators are also required to perform necessary corrective actions under the airworthiness directive, which affects 158 US-registered 787 Dreamliner models and 737 planes […]
