Pakistani authorities are hopeful that the United Arab Emirates (UAE) will roll over deposits worth $2 billion, sources told Geo News on Monday. People familiar with the matter told Geo News that caretaker Prime Minster Anwaar-ul-Haq Kakar has written a letter to UAE President Mohamed bin Zayed Al Nahyan for the rollover. Two separate deposits […]
After the holidays, a lot of people check their bank accounts to see where all of their money has disappeared as it is common to find your wallet a little empty at the end of December due to travel, gifts, and other expenses. These are some current strategies according to CBS, if you’re seeking opportunities […]
A strong start to 2024 is reflected in the recent jump in the Pakistan Stock Exchange (PSX), as evidenced by the KSE-100 index’s stunning gain of 1,580 points. The market’s upward trend in 2023, when the KSE 100 Index saw a notable turnaround and produced an astounding 55% gain in Rupee terms, is being built […]
The most concerning aspect of the system is that it consumes the precious time of the business community, and there is no concept of time management among policymakers. Dispute resolution is another area where the business community has serious concerns. It takes years to settle a dispute. According to the EODB ranking, it takes, on […]
Françoise Bettencourt Meyers, heiress to the L’Oréal empire, has made history by becoming the first woman to accumulate a fortune exceeding $100 billion, as indicated by a global ranking of the wealthiest individuals. The renowned French beauty company, established by her grandfather, is witnessing a remarkable surge in stock market performance, with L’Oréal shares reaching […]
On Wednesday, the Pakistani rupee strengthened by 0.06% in the interbank market, marking its eleventh straight week of gains versus the US dollar. The currency’s continuous rising trajectory can be attributed to favorable market conditions and economic fundamentals, as evidenced by this steady appreciation. The Pakistani rupee ended the day at 282.20 versus the US […]
IT companies operating in Pakistan will now be permitted to keep half of their export earnings in US dollars in a local account, according to a government announcement. The Special Investment Facilitation Council (SIFC) and the State Bank worked together to facilitate this move, which attempts to alleviate the difficulties experienced by IT companies who […]
The federal government has refused to accept the harsh conditions set by commercial banks for providing a new loan of Rs15 billion to the struggling Pakistan International Airlines (PIA). A joint committee has also failed to find a workable solution to keep the airline flying until its privatization. According to official sources, the group of […]
Pakistan and the Asian Development Bank (ADB) have signed six loan agreements worth $1.2 billion, with one-third of it to be disbursed as budget financing, reopening choked financing pipelines after reaching a deal with the International Monetary Fund (IMF). The loan agreements were signed by the Economic Affairs Division (EAD) and the local office of […]
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) has dropped 3,200 points, or more than 4.6%, over the last two days. At 2:00 pm, the index was essentially unchanged at 62,996 points. Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, stated that the market was taking profits and that there was significant […]
