Business
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22China has not banned rice imports from Pakistan, clarifies Commerce Ministry
China has not imposed any restrictions on rice shipments from Pakistan, according to the Ministry of Commerce. In a statement, the ministry...
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21IMF acknowledges growth in Pakistan’s economic activity
IMF has acknowledged the country’s stronger economic activity and believed the global economy to expand by 6 percent this year. On Tuesday, the International Monetary Fund...
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69Pakistani fintech Dastgyr raises $3.5 million in seed round
Pakistani fintech Dastgyr has raised a $3.5 million seed round led by SOSV, takes the total capital secured so far to $4 million, including the angel...
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35Pakistan ranks top 10 nations in business environment
According to a new report by global think tanks, Pakistan has now become one of the 10 top economies with the most...
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44Export of textiles soars to $15.4 billion in FY21
The export of textiles greatly increase during the fiscal year 2020-21 to the extent of 22.94%, revealed by the Pakistan Bureau of...
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32Pakistani rupee weakens against US dollar in interbank market, closes at 162.32
According to data, the Pakistani rupee lost another 0.52% to close at 162.32 against the US Dollar in the interbank market on Friday,...
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29Credit to private sector spikes 12 percent to Rs 6.82 trillion
Credit to private sector by the banking system jumped 12 percent to a total of Rs 6.82 trillion in the previous fiscal...
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34Indonesia-Pakistan B2B online portal launched
In order to facilitate increased trade between both the countries, Punjab Board of Investment & Trade (PBIT), Embassy of the Republic of Indonesia...
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51LSMI output grows 37 percent in May, 14.56 percent in 11 months
The output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57 percent in July-May 2020-21 compared to 11MFY20. According to the Pakistan Bureau...
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62Bank deposits surge to all-time high in FY21
Around Rs 16.2 trillion were the bank deposits on June 30, 2020, whereas, the deposits reached the height of Rs 19.8 trillion on the...
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143Despite challenges, Pakistan sees cryptocurrency boom
Pakistan has seen a boom in trading and mining cryptocurrency, with interest booming in 1000s of views of related videos on social...
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57Pakistan included in Asian Growth Cubs ETF listed on NYSE
Dawn Global has launched the Asian Growth Cubs Exchange Traded Fund (ETF) listed on the New York Stock Exchange (NYSE) on 17th June...
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26Investment by Islamic banking industry rises by 23 percent
The Islamic Banking Industry (IBI) invested 23 percent more than the deposit growth during Jan-March 2021 (3QFY21), according to report issued by the State...
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44First Amazon Center in South Punjab to be inaugurated after Eid
According to a top-level government official, Pakistan Post is set to inaugurate Pakistan’s first Amazon Fulfillment and Facilitation Center (AFFC) in South...
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37Singapore investors urged to set up industries in CPEC SEZs
China-Pakistan Economic Corridor (CPEC) Chairman Lt Gen (retd) Asim Saleem Bajwa called upon investors from Singapore to tap into the opportunities being developed at the...
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54Islamabad, Kabul sign to extend APTTA for 6 months
Islamabad and Kabul signed the protocol for a six-month extension of the Afghanistan–Pakistan Transit Trade Agreement 2010 (APTTA). In a video link ceremony, held on Thursday,...
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68Banks see 43 percent jump in calendar year 2020 profits despite Covid
The profits of Pakistani banks have surged by 42.92 percent in the calendar year 2020, according to the stats released by State Bank of...
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40Nigeria urges Pakistan to establish more banking channels for bilateral trade
Nigeria has has called for the establishment of more banking channels to facilitate bilateral trade between Pakistan and Nigeria. On Monday, the...
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39Pakistan raises another $1 billion through Eurobond issued in March
Pakistan recently borrowed an additional $1 billion through a three-phase Eurobond issuance that raised $2.5 billion in March 2021. The bonds were...
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42Is the digital Euro on its way?
According to Saxo Markets, a stocks and shares ISA financial firm, the European Central Bank (ECB) is considering proposals for a digital...
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91Pakistan hopes to achieve mango export target of 150,000 tonnes
More than 50,000 tonnes of mangoes have been exported during the first five weeks (May 25 to June 30) of the season as Pakistan hopes to...
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74$1.6 billion sent by expats from 171 countries through Roshan Digital Accounts
Overseas Pakistanis have deposited approximately $1.6 billion through Roshan digital accounts (RDAs) from 171 countries in less than one year. The State...
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69Karachi Railways generates record Rs 18.76 billion from freight service in FY21
Pakistan railways came with outstanding performance in the area of freight with Karachi division generating record freight revenue of Rs 18.76 billion in...
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114Pakistan Post opens first Amazon facilitation centre
Pakistan Post has established Amazon Facilitation Centre to facilitate garments manufacturers and exporters on behalf of the government after becoming Amazon’s official...
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126SECP becomes first govt agency to offer WhatsApp support service
The Securities and Exchange Commission of Pakistan (SECP) has launched a WhatsApp channel for business care to quickly respond to public inquiries...
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87PIBs attract net inflow of $256 million in 12 months
Foreign investment in Pakistan Investment Bonds (PIBs) attracted a cumulative net inflow of $256 million during the outgoing financial year. During the...
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48SNGPL to suspend gas supply to select sectors in Punjab, KP
The Sui Northern Gas Pipeline Limited (SNGPL) has suspended the gas supply to CNG, cement, and non-export industry of Punjab and Khyber...
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88Exports to regional countries rise 6 percent in 11 months
Exports of Pakistan to nine regional countries witnessed a growth of 6.23 percent in 11 months of the outgoing fiscal year. According...
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98Binance, the world’s largest cryptocurrency exchange, banned by UK regulator
In what is seen as the latest sign of a growing crackdown on the crypto market around the world, largest cryptocurrency exchange...
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80Customs duty collection from 13 major sectors rise by 26.58%
The Federal Board of Revenue (FBR) raised nearly 70 percent of the total customs duty collection from 13 major sectors. An amount of...
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45SBP unveils policy for inclusion of Persons with Disabilities
The State Bank of Pakistan (SBP) has introduced a comprehensive policy to enhance the financial inclusion of Persons with Disabilities (PWDs). President...
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122Textile and clothing exports jump to $13.7 billion in eleven months
Pakistan’s exports of textile and clothing rebounded during July 2020 to May 2021 mainly due to value-added sectors and posted a robust growth of 19% as...
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100Niger to establish SEZs for Pakistan
Niger is going to establish special economic zones (SEZs) for Pakistan as it eyes to attract investment in the infrastructural sector in Africa. On...
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167Pakistani entrepreneur Mariam Adil makes it to Forbes Next 1000 list
Mariam Nusrat Adil, a Pakistani entrepreneur who is using the power of video games to inspire social change has made it to Forbes Next 1000 list, which...
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111Online marketplaces in Pakistan criticize 17 percent tax on transactions
In a recent Finance Bill, the government sought to classify online marketplaces (OMs) as “Tier 1 Retailers,” subjecting all transactions performed through...
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76BoI avoids investing funds for profit, suffers Rs 212 million loss
The Board of Investment (BoI) did not invest its funds for profit considering it Riba and suffered a loss of Rs 212.2 million. On...
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87Banks allowed to collect up to Rs 200 fee on inter bank funds transfer
According to the State Bank of Pakistan’s recent instructions about changes to the pricing mechanism of inter bank funds transfer online, a...
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112BoI launches PRMI, SEZMIS & IRMS online platforms to accelerate business environment
The Board of Investment (BoI) has launched three platforms, will provide local and foreign investors ease in online registration. On Monday, BoI launched 3 platforms...
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184Pakistani company Saffran Group gets 3.2m order from Japanese corporation
Japanese company Bears Inc has placed a $3.2 million order with Pakistani Saffran Group company for creation of an information technology platform...
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104Large-scale manufacturing expands by 68pc in April, 13pc in 10 months of FY 2021
Large-Scale Manufacturing (LSM) in Pakistan has seen a growth of 68.07 percent in April whereas, the sector’s output grew 12.84 percent in...
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98Exports increase by 14 percent in Jul-May 2021
The exports from Pakistan has witnessed an increase of 13.97 percent during the first 11 months of the current fiscal year (11MFY21). ...
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46Private sector borrowing from banks jumps by 70 percent
The private sector’s borrowing from banks jumped by 70 percent in the first 11 months of the current fiscal year, reflects higher...
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105Pakistan plans to impose additional tax on cigarette industry
Health ministry of Pakistan wants to increase 30 percent of the tax rates for the cigarette industry, federal government considering the proposal. ...
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58State Bank to introduce collateral-free loan scheme for cottage industry
The State Bank of Pakistan (SBP) is going to launch a clean loan scheme for the cottage industry for up to Rs 10 million financing. “Government deserves...
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77Pakistan’s various sectors ready to receive CPEC benefits
Pakistan’s various sectors are ready to receive maximum benefits from the China-Pakistan Economic Corridor (CPEC) project which is considered a game-changer for Pakistan. According to experts...
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85SECP registered 1,597 new businesses in May, a growth of 107 percent
The Securities and Exchange Commission of Pakistan (SECP) have registered 1,597 new businesses, more than doubled in May compared to the last...
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158Cement sales up 41 percent in May despite increase in price
The local sales of cement jumped 41 percent in spite of the long Eidul Fitr holidays and price increase by manufacturers in...
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114E-earn program for 10,000 freelancers inaugurated in Punjab
Yasir Humayun, the Punjab Higher Education Minister and head of the Punjab Information Technology Board (PITB), has launched the e-Earn scheme, which...
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146Japanese firm Bold Investment to invest in Pakistan’s tech sector
A Japanese firm, Bold Investment, has established its investment arm in Pakistan with aims to rise growth and potential in technology space...
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187US largest supermarket company Kroger Co. adds Pakistani products
The third largest retail store chain in the US, the Kroger Co. has added Pakistani food products to its outlets, announced Abdul Razak Dawood. ...
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147Pakistan Post becomes Amazon official delivery partner
Just weeks after Amazon opened up its platform to Pakistani sellers, Pakistan Post Office has been formally authorized as the delivery partner...
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180‘Economic growth to catch pace in coming years, GDP to reach 6% by 2023’
As the government is preparing the budget for the upcoming fiscal year, the economic growth rate of Pakistan would catch pace next...
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6728 percent growth in bank advances via credit cards during April 2021
Bank advances via credit cards have swelled by 28 percent to Rs 53 billion in April from Rs 42 billion in the same...
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85Current account posts $773 million surplus in July-April
The current account of the country continued to surplus with $773 million during the first 10 months of the current fiscal year...
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92PM Imran set aside Rs 100 billion for startup loans to end unemployment
Prime Minister Imran Khan has announced Rs 100 billion fund for startup loans and 170,000 skilled education scholarships so that the challenge...
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92Rise in bank deposits outpaces advances growth in first 10 months of FY21
The banks used to invest their largest part of liquidity in the government papers which are risk-free and give high yields. After...
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112Mango export target set at 150,000MT for current season
All Pakistan Fruit and Vegetable Exporters, Importers & Merchants Association (PFVA) has set the target of mango export at 150,000 metric tons...
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98Foreign direct investment falls by 32.5 percent in July-April FY21
Foreign direct investment has fallen by 32 percent during the 10 months of the current fiscal year from July to April of...
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113Pakistan’s exports to Australia have increased by 30pc, says Australian envoy
In a webinar meeting, Australian High Commissioner Dr Geoffrey Shaw announced the increase of Pakistan’s exports to Australia by 30 percent. On...
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101Roshan Digital Accounts mark upward trend after PM’s visit to KSA
Roshan Digital Accounts has witnessed a noteworthy upward trend following Prime Minister Imran Khan’s recent visit to the Kingdom of Saudi Arabia. ...
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126Pakistan’s National incubation center, ‘IGNITE’ recognized by the UN
Pakistan’s National Incubation Center, ‘Ignite’ has been recognized by the International Telecommunication Union, an agency or digital tech run under the United...
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127Loan infection ratio of banking sector rises to 9.3 percent
The banking sector’s infection ratio rose from 8 percent in December 2018 to 9.3 percent at the end of March this year, according to...
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144Four SEZs to create 1.47 million jobs, boost industrial growth
The four Special Economic Zones (SEZs) are expected to create as many as 1.47 million jobs besides playing a vital role in boosting local industry. The...
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109Cotton imports are up 46% as domestic output falls dramatically
During the first nine months of the current fiscal year, Pakistan imported cotton worth $1.838 billion. This is up 46% from the...
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266Rupee upsurge against dollar continues, hits a new 23-month high
For the eighth consecutive working day, rupee has maintained its uptrend, hitting a 23-month high of Rs 152.27 against the US dollar...
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97Roshan Digital accounts to be converted into digital banking
Roshan Digital accounts will ultimately be converted into digital banking, SAPM Sayed Zulfikar Abbas Bukhari announced on Monday. On Monday, Corporate Pakistan...
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102Freelancers earn over Rs 4 billion from abroad since January 2020
Pakistani freelancers have received more than 4 billion rupees since January 2020 using a tech-based solution amid the coronavirus pandemic. While businesses...
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91Pakistani fintech CreditBook secures $1.5 million in seed funding
CreditBook, a Karachi-based fintech startup, has received $1.5 million in seed funding from Pakistan’s BitRate VC and Dubai’s VentureSouq. Better Tomorrow Ventures, Ration Ventures, Toy...
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241Pakistan gets officially listed on Amazon seller list
US e-commerce giant Amazon has added Pakistan to its approved seller list, a moment of celebration for Pakistani small businesses. Prime Minister...
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149Industrial sector to cut 15-20 percent jobs after Eid
Industrialists are going to slash 15-20% jobs after Eidul Fitr in the wake of slowdown in industrial production amid difficult condition of...
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108Pakistan to register Khewra salt with international trade bodies
Local rock salt of Khewra is going to be registered with international trade bodies, taking Pakistan to the lead in the global...
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98ADB puts Pakistan growth rate at 2 percent this year
The Asian Development Bank (ADB) has forecasted Pakistan GDP growth by two percent during 2021, subject to successful vaccine rollout and implementation...
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140SECP to introduce concept of special purpose acquisition company
The Securities and Exchange Commission of Pakistan (SECP) is going to introduce the concept of a special purpose acquisition company (SPAC) in...
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114Roshan digital account scheme attract historic $1 billion
Inflows of foreign exchange through the Roshan Digital Account (RDA) crossed the $1 billion mark, making space for the architects of the...
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125China agrees to open Khunjerab border for trade
After a number of requests of Pakistan to China, the Chinese government now has agreed to open the Khunjerab border, keeping in...
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112Cryptocurrencies Crash After Hitting All-Time Highs
On Sunday, Bitcoin, the world’s most famous cryptocurrency, dropped as much as 15% to $51,541, losing much of the previous week’s gains. The...
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115Traders in Karachi flout Sindh govt’s market closure policy
All commercial areas in the city will remain open today, according to All Karachi Tajir Ittehad Chairman Atiq Mir, who was reacting...
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116Pakistan’s foreign exchange reserves hit five-year high
Pakistan’s foreign exchange reserves hit a five-year high of $23.2 billion last week with the State Bank of Pakistan crediting the rise...
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124Large scale industrial output expands 7.45 percent in eight months of current fiscal year
Large Scale Manufacturing increased by 4.85 percent in the month of February making it to an increase of 7.45 percent for July-February...
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101Alibaba shares jump 6 percent after $2.8 billion anti-monopoly fine
Alibaba stock jumped 6% after the e-commerce behemoth told investors that a record $2.78 billion antitrust fine levied by China would have...
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161Bitcoin crosses $62,000 ahead of Coinbase IPO
Cryptocurrency Bitcoin has hit a record high, crossed $62,000 ahead of cryptocurrency exchange Coinbase IPO on Wall Street. On Tuesday, Cryptocurrency Bitcoin hit a record...
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173SBP considering issuing digital currency to boost financial inclusion
The State Bank of Pakistan (SBP) will possibly issue digital currency to boost financial inclusion and reduce money laundering in the economy. According to...
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151Pakistan records remittances over $2b for 10th consecutive month
Pakistan has recorded an increase of 26% in remittances of above $2 billion for the 10th consecutive month in March, revealed SBP. ...
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147China invites Pakistani firms to attend online Canton Fair
On Saturday, the Counsellor Embassy of China Xie Gouxiang invited Pakistani companies to attend the Canton Fair and explore prospects for the export of their products around the world. ...
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140World Bank puts Pakistan growth rate at 1.3pc
Pakistan had been showing a weak economic recovery with the resumption of economic activity and was expected to achieve a growth rate of 1.3%, ...
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93KP govt to introduce Alternative Delivery Channels to facilitate tax payers
KPK government, State Bank of Pakistan (SBP) and 1-Link have signed a tripartite agreement for the collection of government taxes through Alternative...
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415MTJ – Maulana Tariq Jameel launches own clothing brand
The religious scholar Maulana Tariq Jameel has launched his own clothing brand, the inauguration ceremony was held in Karachi. On Saturday, MTJ clothing brand was launched in the...
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209Pakistan all set to enter China’s $15bn meat market
Pakistan is going to venture into the $12 to $15 billion China’s meat market, announced the Food Minister. The Food Minister announced that...
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164Pakistan’s exports reach decade-high of $2.3b in March
Pakistan’s exports have reached a decade-high of $2.3 billion in March 2021, monthly figures showing growth year-on-year and over the previous month. The...
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166FBR collection hits Rs475bn in March
Federal Board of Revenues successfully collected Rs.475 billion against a target of Rs.439 billion during the month of March, this year. This is the...
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104Pakistani fintech SadaPay raises $7.2m in seed round
Fintech SadaPay launched its digital wallet and numberless debit card under the supervision of the regulator. It employs a ‘neobank’ business model, using the Electronic Money...
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134Hammad Azhar announces launch of Pakistan’s ‘first ever’ three-tranche capital market transaction
Pakistan’s “first ever” three-tranche capital market transaction is going to be launched. The launch happened the same day Hammad Azhar was entrusted with the finance ministry...
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151Due to Covid, production activities of local leather industry are limited to 50%
Generally, the industrial and trading sectors of Pakistan have been badly affected due to Covid-19 but the same proved to be a blessing in disguise...
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186Rupee gains another 42 paisa as the US dollar falls to pre-Covid level in interbank
On Monday, the rupee gained an additional 42 paisa against the US dollar as the greenback was quoted at below the pre coronavirus pandemic...
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244Govt plans to launch Eurobond to generate up to $1 bn
The government has planned to launch Eurobond in the international capital market probably within the next few days in order to generate $750 million...
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138PM nods abolition of corporate tax exemption
The government has abolished the tax exemption, worth Rs.150 billion to the corporate sector through Presidential ordnance in order to fulfill the...
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135Traders lament low mango exports to US
Ahmad Jawad, the former Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s Standing Committee on Agriculture said that...
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130
Pakistan’s exports slump 22pc in the region
The Pakistan’s exports to different regional countries, including Afghanistan, China, Bangladesh, Sri Lanka, Iran, Nepal, Bhutan, and the Maldives have come down during the eight...
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182Policy rate to remain unchanged at 7pc: SBP
The Monetary Policy Committee (MPC) of the State Bank of Pakistan has maintained the policy rate at 7 percent. This time, once again...
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146MOU Signed Between SMEDA and University of Central Punjab
University of Central Punjab (UCP) has collaborated with the Small and Medium Enterprises Development Authority (SMEDA) and signed a memorandum of understanding (MoU) to collaborate and...
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124Iran keen to expand investment, trade ties with Pakistan
In a meeting with the delegation of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) headed by the Chairman, Qurban Ali, the...
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215KP govt to build pilot cryptocurrency mining farms
Khyber Pakhtunkhwa government is going to build two hydroelectric-powered pilot cryptocurrency mining farms to capitalize on a bullish global cryptocurrency market. The...
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175Unilever Pakistan among four companies issued show-cause notices for ‘deceptive practices’
The Competition Commission of Pakistan is authorized under the Competition Act to ensure free competition in all spheres of commercial and economic...
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141Textile exports fall by 3pc in February
Textile and clothing exports has decreased in second month from a year ago owing to a decline in value-added exports, the export...
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205Strong growth in digital financial transactions in the country in Q2 FY2020/21
The State Bank of Pakistan (SBP) released its Quarterly Payment System Review (QPSR) for the second quarter, October – December 2020, of...
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377Special Economic Zones launched in Thatta, Chakwal
Two Special Economic Zones (SEZs) have been launched at Pir Phato, Thatta and Padshahan, Chakwal districts by the Dynamic Engineering and Automation (DEA). A privately owned engineering...
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231GasPort plans $94m virtual LNG pipeline from Gwadar
The Gwadar GasPort Limited (GGPL) has planned to invest $94.04 million in a virtual Pipeline to deliver LNG at the doorsteps of the industrial...
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273A young entrepreneur makes a splash in the fisheries following Biofloc technology
With an initial investment of Rs.80.00 per fish, one can sell the fish at the rate of Rs.300.00, told Shaukat Hussain to the media on...
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120Roshan digital account attracts $671m in six months
The Roshan Digital Account (RDA), which launched last year in September has now crossed 100,000 accounts and attracted $671 million. On Friday, the State Bank...
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1125,145 firms in Pakistan have at least one female director: SECP
According to SECP, 21,168 companies registered between March 2020 and March 2021, and 5,145 firms have at least one female director. On...
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111Banks directed to use digital payment modes in financial services
The State Bank of Pakistan (SBP) has directed all banks in the country to provide a set of minimum services on internet...
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301FBR targeting Payoneer, freelancers over billions of rupees transferred from abroad
According to the Federal Board of Revenue (FBR), a ‘mega scam’ involving a foreign company moving about Rs60 billion to more than...
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2222,257 new startups register after SECP’s “ease of doing business” reforms
The Securities and Exchange Commission of Pakistan (SECP) in a game-changing development has announced that ease of doing business has led to the...
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222PM approves withdrawal of 80 income tax exemptions
Pakistan and IMF had a staff-level agreement last month for the approval of the second to fifth reviews and release of the...
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208Pakistan issues fresh tenders to buy wheat, sugar
Trading Corporation of Pakistan has issued two new international tenders to purchase 300,000 tons of wheat and 50,000 tons of sugar. Pakistan...
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181PM Imran Khan okays cross-border yarn import
The cross-border yarn import has been approved by Prime Minister Imran Khan amid fears of a shortage of industrial input in textile...
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152Norwegian investment in Pakistan, FM Qureshi appraised growing business relations
Shah Mahmood Qureshi, Foreign Minister expressed his satisfaction towards Norwegian investment in Pakistan. He exchanged his views on enhancing cooperation in many sectors like...
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220Careem Engineering offers remote global opportunities for Pakistanis
Careem Engineering has offered remote global opportunities for the country to make Pakistan an epicenter of technology. It is further expanding its engineering...
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195Pakistan plans to develop oil city in Gwadar
The government is going to develop a massive oil city in Gwadar district in Balochistan province. According to Director General of Gwadar Development Authority (GDA), Shahbaz Khan Kakar, Fisheries,...
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173FPCCI signs partnership agreement with Greater Manchester Chambers of Commerce
Pak-UK Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) organized a Partnership Collaboration Agreement Signing Ceremony with Greater Manchester...
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155FBR exceeds eight-month revenue collection target by Rs 18 bn
There has not only been stability in all the sectors of the economy after the Covid-19 rather there seems much improvement. Federal Board of Revenues (FBR)...
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139PM Imran Khan lays foundation stone of business district in Lahore
PM Imran Khan laid the foundation-stone of the first-ever Central Business District project of Pakistan, at the Walton Airport site. In order to ease doing the business in Lahore, PM Imran...
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210ECO freight train to resume operations after nine years
After a gap of 9 years ECO freight train is going to be resumed on 4th March between Istanbul-Islamabad. The train that connects businesses...
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109ITFC loans $1.1bn to Pakistan for oil and LNG imports
A member of the Islamic Development Bank Group, ITFC has agreed to loan $1.1 billion to Pakistan for oil and LNG imports...
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119Malaysia keen to promote trade with Pakistan: envoy
Malaysia has shown its keen interest to promote trade with Pakistan as Ikram Bin Muhammad Ibrahim, High Commissioner of Malaysia in Pakistan said that...
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12161% of Pakistani entrepreneurs enjoying good business conditions: Gallup survey
In spite of the fact that covid-19 has drastically affected the business community in Pakistan but as per the statement of 61%...
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12527pc drop in foreign direct investment
State Bank of Pakistan reported that during the first 7 months, foreign direct investment (FDI) fell by 27 percent compared to the same...
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188Pakistan and Sri Lanka ink MoUs to strengthen cooperation
Pakistan and Sri Lanka have signed multiple Memorandum of Understandings (MoUs) related to education, science, investment, technology, and industrial cooperation. On Tuesday, both countries signed...
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237Pakistani startups launch Chikoo platform to help SMEs sell online
Brandverse and eOcean, both Pakistani Startups are collaboratively going to work through the new Chikoo platform. These startups have signed a Memorandum of Understanding (MoU) for...
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224Plans for $10bn Aramco refinery in Pakistani ‘oil city’ ready by year-end
A masterplan for $10bn Aramco oil refinery project is underway and expected to be ready before the end of the year. According to...
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212Pakistan to register Himalayan pink salt
Pakistan is going to register Himalayan pink salt, extracted from the Salt Range which extends along the south of the Potohar Plateau and the...
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206Pakistan to issue Green Bond to boost renewable energy projects
In order to boost renewable energy in Pakistan, the government is planning to issue the country’s first green bond. Malik Amin Aslam,...
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218Chinese firm aims $150m industrial park in Lahore to enhance exports
The Chinese firm is all set to invest $150 million in an industrial park on the border of Lahore at Kasur. The...
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384Pakistani fintech PayPro gets Rs 7.4 million funding from USAID
PayPro, a fintech startup has announced that it had received a grant amounting to Rs 7.473 million from USAID Small and Medium...
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301Textile exports increase 8.23 percent to $8.765 billion in 7 months; 10.79 percent in Jan
Textile exports witnessed an increase of 8.23 percent during the first seven months of the current fiscal year and increased 10.79 percent...
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250Uzbekistan to invest in textile sector of Pakistan
Uzbekistan and Pakistan showed resolve to enter into a preferential trade agreement and cooperate in shipping, textile, engineering and information technology sectors....
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397Mastercard launches Pakistan’s 1st numberless debit card with SadaPay
Mastercard has collaborated with SadaPay in order to launch the Middle East and Africa (MEA) region’s first numberless and contactless-enabled card in...
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223Large scale manufacturing grows 11.4 percent in December
Large-scale manufacturing (LSM) in the country grew by 11.4 percent in December 2020 as compared to December 2019. According to the data...
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268The Impact of Covid-19 on Online Shopping in Pakistan
The outbreak of Covid-19 has changed the world and is continue to bring a significant effect on our everyday life. It has fast-tracked consumer behavior towards online shopping and has managed to...
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223Roshan Digital Accounts attract $480 million from 97 countries in five months
Foreign exchange inflows from overseas Pakistanis under the Roshan Digital Accounts have reached more than $480 million in five months. Dr. Reza...
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273Pakistani startup Safepay secures funding from US fintech giant Stripe
Karachi-based fintech startup Safepay announced raising a seven-figure seed funding round led by global financial services company Stripe, among other investors. Besides...
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432Daraz and Extreme Commerce join hands to empower local sellers
Daraz and Pakistan’s first EdTech startup Extreme Commerce have joined hands for e-commerce and digital trade. The partnership will help Daraz sellers...
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314SBP mulls relaxing FE regulations for startups to raise convertible debts
The State Bank of Pakistan (SBP) is considering relaxing rules for startups and fintech companies to raise foreign capital, as it may...
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384PTCL posts 38 percent profit growth in 2020
Pakistan Telecommunication Company Limited (PTCL) recorded a consolidated profit after tax (PAT) of Rs 3.27 billion for the year ended December 31,...
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288‘AJK has potential to become Silicon Valley and IT hub of Pakistan’
Sardar Masood Khan, president of Azad Jammu and Kashmir (AJK) has said that the youth of the region have the potential to...
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291PSX breaks 16-year record as trading volume crosses 1 billion shares
The Pakistan Stock Exchange (PSX) has witnessed a trading volume of one billion shares in a single day for the first time...
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380Pakistan offers China partnership in $9 billion PARCO coastal refinery
The government of Pakistan is going to seek investment from China for becoming a shareholder in the state-of-art PARCO coastal refinery and...
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289Pakistan launches first national investment platform for startups
Ministry of Information Technology and Telecommunications (MoITT) and its tech innovation arm, Ignite (National Technology Fund), on Tuesday launched PakImpactInvest, Pakistan’s first...
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237Pakistan ranks 3rd among countries safeguarding SMEs from coronavirus impact
Pakistan ranks 3rd in the government support provided to small and medium enterprises (SMEs) to mitigate the impact of coronavirus pandemic. According...
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405NBP branches in Bangladesh, Afghanistan to be closed
Due to the losses, the National Bank of Pakistan (NBP) has decided to shut down its branches in Bangladesh and Afghanistan. During...
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328Business community demands GI tag for more Pakistani products
The business community of Pakistan has demanded that similar to Basmati rice, the country needs to apply for Geographical Indication (GI) tag...
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238Pakistan’s exports to UK increase 22% to touch $1bn mark in first half
Exports of Pakistan to the United Kingdom (UK) has increased by 22% and crossed one billion dollars in six months, despite the...
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232For first time in 8 years, exports cross 2bn mark in 4th consecutive months
Exports of Pakistan had maintained growth and for the first time in eight years have crossed the $2 billion mark for the fourth consecutive month. Commerce Adviser Razak Dawood called it...
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528Panther Tyres raises Rs 2.632 billion through book building at PSX
Panther Tyres Limited has successfully raised Rs 2.63 billion through a two-day book building process at the Pakistan Stock Exchange (PSX). On...
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400Pakistan Stock Exchange sets 13-year record, achieved highest value shares
The Pakistan Stock Exchange (PSX) has set the record by achieving the highest value of shares traded in 13 years as it hit...
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631FBR says salaried individuals not required to update tax profiles
The ‘salaried individuals’ are not required to update their ‘Tax Profiles’ under section 114A of the Income Tax Ordinance, 2001, says FBR....
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755SBP launches an FX Portal with 11 banks for end-to-end digitalization of FX requests
11 commercial banks have been selected by the State Bank of Pakistan (SBP) in its FX Portal to provide end-to-end digitalization of...
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357Pakistan, Kuwait resolve to enhance trade, investment cooperation
Pakistan and Kuwait have expressed resolve to enhance cooperation in economic, trade, oil and gas, energy, investment, agriculture, IT, and health sectors....
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512K-Electric join hands with Avanza Solutions for real time payment system
The K-Electric (KE) has joined hands with Avanza Solutions, one of the leading fintech organizations across the globe, to implement Real Time...
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266Pakistan gets Geographical Indicator tag for its Basmati rice
Pakistan has received the Geographical Indicator (GI) tag for its Basmati rice, paving the way for creating a local registry for this...
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275Pakistan seeks $12 billion under new World Bank partnership framework
The World Bank Group (WBG) has taken the initiative of preparing a new Country Partnership Framework (CPF) for Pakistan with a possible...
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408State Bank of Pakistan denies rumors of limiting ATM cash withdrawal
On Saturday, the State Bank of Pakistan (SBP) made it clear that the ATM cash withdrawal limit was not limited to Rs...
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257BOI invites Danish investors, enterprises to bring investment in Pakistan
Danish investors and enterprises are expected to bring investment and joint ventures to Pakistan for increasing economic and trade relations between both...
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375Govt eliminates taxes on Panda bonds, Sukuk and Eurobonds
Different types of income taxes to raise around $2 billion in debt through Pakistan’s first Chinese currency-denominated Panda bonds, Eurobonds and International...
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402Sweden invited to invest in CPEC, special economic zones in Pakistan
FPCCI has pressed for an increase in bilateral economic and trade relations between Pakistan and Sweden, it also called for an increase...
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317‘Pakistan and Italy can lift their bilateral trade volume to $5 billion’
According to Italian Ambassador Andreas Ferrarese, massive potential exists for Pakistan and Italy to lift their bilateral trade volume to $5 billion....
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251Public debt of Pakistan shoots up to Rs 35.8 trillion in July-Nov
As per the report revealed by the State Bank of Pakistan (SBP), the government’s federal debt raised quickly to reach the shaky...
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225Alibaba’s Jack Ma Makes First Public Appearance Since October
The co-founder of the e-commerce giant Alibaba and renowned businessman Jack Ma made his first appearance in public who was missing since...
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250Pakistan improves 31 positions on Trading Across Border Index: FBR
Pakistan has improved its rankings in the Trading Across Border Index by 31 positions, moving up from the 142nd to the 111th,...
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237Remittances to Pakistan set to cross record $28 billion this year
Looking at the trend of remittances to Pakistan that remained above $2 billion mark for the seventh month in a row, totalling...
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662Pakistan plans alternate 350 km shorter CPEC route to connect China
Pakistan is going to have another major route connecting China under the China-Pakistan Economic Corridor (CPEC), the alternate route would be around...
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442SECP registered 20,324 new companies in 2020, up by 24pc compared to 2019
The Securities and Exchange Commission of Pakistan (SECP) registered 20,324 new companies in 2020, indicating an increase of 24 percent from 16,456...
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604Karachi-based Artistic Milliners acquires denim factory in California
Artistic Milliners (Pvt.) Limited, a Pakistani denim fabric and garments specialist has acquired a denim factory in Commerce, near Los Angeles, California,...
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285Textile exports increased by 7.79 percent to $7.442 billion in July-December
Textile exports of Pakistan have reached a historic high as the exports during December 2020 has increased by 22.72 percent. Moreover, textile...
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607Chinese Century Steel to set up first mill in Rashakai SEZ
A Chinese iron and steel firm is going to become the first foreign enterprise to establish its plant in the Rashakai Special...
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361MFSYS invests Rs 50 million in Chkar — Pakistani online vacation rental marketplace
Chkar Lodging & Experiences, an online vacation rental marketplace has raised Rs 50 Million funding in its first round of seed funding...
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350SBP declared best central bank for promoting Islamic finance
International Finance News (IFN) has awarded the best Central Bank award to the State Bank of Pakistan (SBP) in promoting Islamic Finance....
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272Moody’s improves Pakistan’s banking sector rating, forecasts 1.5% GDP growth
Moody’s improved its rating for Pakistan’s banking sector declaring the government’s credit profile as stable and projected a modest growth of 1.5%...
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658Utility Stores Corporation records Rs 100 billion annual turnover in 2020
The annual turnover of Utility Stores Corporation of Pakistan (USC) was recorded around at around Rs 100 billion in the calendar year...
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533Three startups of Karachi University students among top 10 innovative companies
Three startups of University of Karachi students have been listed among the top 10 innovative companies of Pakistan by Japan International Cooperation...
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405Ease of doing business: Pakistan up 28 places on World Bank index
Security and Exchange Commission of Pakistan’s annual report revealed that Pakistan has improved its position on the World Bank (WB) Ease of...
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391Pakistan earns $121.890 million from export of travel services in four months
During the first four months of the current financial year 2020-21, Pakistan has earned $121.980 million from the export of different travel...
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328Exporters facing big difficulty as seaport overburdens
Cement exporters are facing big problems for exporting their product due to the import of sugar, wheat, and canola on a priority...
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321‘Pakistan’s export growth indicates its efficient economic policy’
Chinese professor, Cheng Xizhong, says Pakistan’s substantial export growth is a vindication of the govt’s policy to keep economy running during pandemic....
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465KSE-100 index cross 45,000 mark for first time in 3 years
Pakistan Stock Exchange (PSX) crossed the 45,000 points mark in the KSE-100 index after a gap of three years with the share...
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259Pakistani economy expected to grow by average 1.3% over next two fiscals: World Bank
Pakistani economic growth is expected to be subdued, averaging at 1.3 percent over the next two fiscal years, said the World Bank....
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462Pakistani digital lending fintech giant Finja raises $9 million in Series A1 round
Lahore-based digital lending fintech Finja that operates with dual licenses from SBP and SECP has closed $9 million of a $10 million...
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428Pakistan’s textile sector has export orders for next 6 months
Pakistan’s textile businesses have received export orders for the next six months as the sector expands production capacity to meet robust demand...
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281Look Africa Campaign: Pakistan’s trade with Africa reached $4.18bn in 2019-20
As a result of new engagement with African countries through the “Look Africa” campaign started by the government of Pakistan, Pakistan’s trade with...
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430Companies raised Rs 35.4 billion through IPOs, Right Shares at PSX in 2020
Pakistani companies have raised interest-free investment worth Rs 35.4 billion via Initial Public Offerings (IPOs) and Right Shares from Pakistan Stock Exchange...
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429Elon Musk reveals that he once tried to sell Tesla to Apple
There was once a time when tech pioneer and entrepreneur Elon Musk seriously contemplated selling his electric car business Tesla to none...
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898British American Tobacco To Set Up Business Services In Pakistan
The British American Tobacco clarifies that Pakistan setup is being established ‘in parallel to the company’s business in Malaysia’. British American Tobacco (BAT) explained that it...
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573Pakistan posts current account surplus for 5th straight month despite Covid
Pakistan’s current account posted a surplus for the fifth consecutive month in November despite the unending fear of the second wave of...
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687FBR introduces cash back refunds of sales tax to customers of tier-1 retailers
The Federal Board of Revenue (FBR) will allow customers to get five percent cash back on sales tax paid on purchases from...
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301Bank of Punjab (BOP) becomes Market Maker for debt securities on PSX
Bank of Punjab (BOP) has become the first bank to be recognized as Market Maker for both conventional and Shariah Compliant debt...
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443SBP launches consultation process to enhance financial inclusion of women
The State Bank of Pakistan (SBP) has adopted a medium-term national target of 20 million active women bank accounts by 2023 under...
