Pakistan Business, PSX KSE Updates, Prize Bond, Currency & Gold Rate

Large 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...

15

Alibaba 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...

24

Bitcoin 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...

27

SBP 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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Pakistan 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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China 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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World 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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KP 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...

52

MTJ – 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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Pakistan 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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Pakistan’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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FBR 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...

31

Pakistani 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...

'first ever' three-tranche capital market transaction

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Hammad 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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Due 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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Rupee 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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Govt 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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PM 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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Traders 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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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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Policy 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...

40

MOU 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...

38

Iran 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...

50

KP 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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Unilever 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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Textile 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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Strong 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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Special 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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GasPort 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...

76

A 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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Roshan 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...

48

5,145 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...

45

Banks 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...

106

FBR 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...

93

2,257 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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PM 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...

76

Pakistan 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...

80

PM 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...

66

Norwegian 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...

84

Careem 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...

72

Pakistan 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,...

81

FPCCI 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...

65

FBR 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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PM 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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ECO 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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ITFC 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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Malaysia 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...

72

61% 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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27pc 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...

106

Pakistan 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...

Pakistani startups launch Chikoo platform to help SMEs sell online

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Pakistani 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...

Plans for $10bn Aramco refinery in Pakistani ‘oil city’ ready by year-end

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Plans 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...

146

Pakistan 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...

122

Pakistan 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,...

121

Chinese 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...

221

Pakistani 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...

204

Textile 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...

167

Uzbekistan 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....

193

Mastercard 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...

149

Large 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...

192

The 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...

155

Roshan 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...

186

Pakistani 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...

245

Daraz 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...

202

SBP 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...

183

PTCL 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,...

149

‘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...

176

PSX 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...

191

Pakistan 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...

196

Pakistan 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...

178

Pakistan 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...

246

NBP 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...

203

Business 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...

171

Pakistan’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...

184

For 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...

284

Panther 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...

230

Pakistan 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...

304

FBR 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....

366

SBP 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...

241

Pakistan, 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....

257

K-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...

199

Pakistan 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...

187

Pakistan 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...

219

State 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...

180

BOI 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...

209

Govt 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...

260

Sweden 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...

236

‘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....

193

Public 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...

159

Alibaba’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...

183

Pakistan 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,...

164

Remittances 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...

386

Pakistan 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...

207

SECP 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...

265

Karachi-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,...

227

Textile 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...

289

Chinese 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...

263

MFSYS 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...

272

SBP 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....

189

Moody’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%...

326

Utility 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...

259

Three 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...

301

Ease 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...

290

Pakistan 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...

271

Exporters 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...

253

‘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....

349

KSE-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...

202

Pakistani 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....

348

Pakistani 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...

323

Pakistan’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...

225

Look 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...

313

Companies 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...

360

Elon 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...

597

British 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...

458

Pakistan 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...

550

FBR 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...

232

Bank 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...

354

SBP 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...

234

Pakistan credit profile shows robust long-term GDP growth potential: Moody’s

Moody’s Investors Service that periodically releases reviews of countries around the globe highlighting their credit ratings and other financial research in light...

287

PTC to create over 3000 jobs with the establishment of first BPO hub in Pakistan

Pakistan Tobacco Company (PTC) is going to establish its business process outsourcing (BPO) hub in Pakistan, which will be used to cater...

225

Large-scale manufacturing expands 6.66 percent during October

The large-scale manufacturing (LSM) sector grew 6.6 percent year-on-year during October 2020 as the construction sector showed robust recovery. According to the...

254

SECP registers 1,956 new companies in November, up by 41pc compared to 2019

The Securities and Exchange Commission of Pakistan (SECP) registered 1,956 new companies in November, indicating a year-on-year increase of 41 percent. The...

307

SBP grants SadaPay approval to begin pilot operations in 2021

The State Bank of Pakistan (SBP) has decided to give authorization to fintech startup SadaPay to initialize pilot operations next year. The...

233

Electronic transactions: FBR to regulate online import and export of goods

The Federal Board of Revenue (FBR) has decided to regulate the buying and selling of goods including digital products through electronic transactions...

502

Pak-China border via Khunjerab Pass opened for 10 days

The China-Pakistan border crossing at Khunjerab Pass has been opened to allow over two dozen stranded Pakistani containers to cross over between...

427

Global consortium and China interested in investing $8 billion in Ravi City project

Chinese companies and a global investment consortium are keen to invest $8 billion in the Ravi City project in Lahore, says PM...

239

ADB reports economic recovery in Pakistan

The Asian Development Bank (ADB) has said that the economy of Pakistan was on the path of recovery, economic activity in South...

278

Pakistan monthly exports to China witness 30% increase in November

Monthly exports of Pakistan to China witnessed an increase of 30 percent year-on-year in November 2020, improving the trade balance between both...

255

Pakistan to remain on UK trade preference list after Brexit

Pakistan would continue to benefit from the UK’s trade preferences scheme at par with the EU GSP Plus facility after the Brexit....

419

Here’s How You Can Create an Online Account With SECP to Invest in Stocks

A mechanism to allow all Pakistani resident and non-resident investors to open an online account linked to the capital market to invest...

315

Pakistan records highest-ever monthly exports of $437 million to United States

Exports of Pakistan to the United States hit a record high of $437 million in the month of November crossing the $400-million...

384

Pakistan proposes transit trade agreements among CAREC states

Pakistan has suggested transit trade agreements among the member countries of the Central Asia Regional Economic Cooperation (CAREC), leading to a regional...

777

Government discontinues Rs 25,000 national prize bonds

According to reports, the State Bank of Pakistan (SBP) has decided to discontinue the Rs 25,000 national prize bonds with immediate effect....

356

Post-COVID-19, CPEC will become trade hub, says FO

Foreign Office (FO) in a statement said that after the coronavirus pandemic is brought under control, the CPEC would blossom into a...

261

SBP report shows digital banking fast replacing conventional transactions

State Bank of Pakistan (SBP) on Thursday released its Quarterly Payment System Review for the first quarter of the fiscal year 2020-21,...

502

3 Pakistani companies make it to Forbes Asia’s 200 Best Under A Billion

Three Pakistani companies Systems Limited, Feroze1888 Mills and Searle Pakistan made it to the Forbes ‘Asia’s Best Under A Billion 2020’ list....

464

Sri lanka increases regulatory duty on Kinnow import from Pakistan

Pakistani fruit exporters are facing turmoil as the Sri Lankan government has increased the regulatory duty on the import of Kinnow from...

308

Finance Ministry’s Monthly Outlook Report Indicates Strong Economic Recovery

The Ministry of Finance in its Monthly Economic Update & Outlook (November 2020) report issued on Friday presented a strong economic recovery...

268

$8b increase in Pakistan net foreign exchange reserves since June 2019

The net foreign exchange reserves of Pakistan have increased by $8 billion since June 2019, says State Bank of Pakistan Governor Dr...

352

Deposits Cross $100 Million in Roshan Pakistan Digital Accounts

Dr. Reza Baqir, the Governor of State Bank of Pakistan (SBP) released a statement that Pakistani living in foreign countries deposited $100...

268

Bank Alfalah introduces PM’s Roshan Digital Account for expats in Dubai

Chairman of Bank Alfalah, introduced the Roshan Digital Account in Dubai, an initiative of the Government of Pakistan and State Bank of...

2.8K

Blessed Friday 2020 – Best Sales & Deals In Pakistan

A substitute for Black Friday, Blessed Friday 2020 in Pakistan is going to be celebrated on Friday, 27th November with the same ‘shopping’...

384

Traders end self-ban to resume onion export as prices drop 50pc

Traders have decided to end the self-ban and restart onion export from tomorrow, November 27, 2020, after prices stabilised in the country...

484

Pakistan improves Trading across Borders rank due to TFA implementation

According to the World Trade Organization, Pakistan jumps 31 places on Trading across Borders rank due to improvement in Trade Facilitation Agreement...

243

Pakistan exports to UK increase by 30pc, imports down by 23pc

As compared to October 2019, Pakistan exports to UK raised 30 percent amounting to $200 million from $154 million. A news report...

211

State Bank keeps interest rate unchanged at 7 percent

The State Bank of Pakistan kept the main policy rate unchanged at 7 percent, a statement by the central bank said on...

759

Strategy is to promote industrialization, create wealth, jobs, says PM Imran

The government is working on the advancement of industrialization in Pakistan which is the way to generate jobs and create wealth and...

323

SECP approves launch of first peer-to-peer lending platform

Securities and Exchange Commission of Pakistan (SECP) has given approval to the launch of a peer-to-peer (P2P) lending platform under the first...

216

Elon Musk passes Mark Zuckerberg and becomes world’s third richest person

Elon Musk, the founder and CEO of SpaceX and electric car company Tesla has leapfrogged Facebook CEO Mark Zuckerberg and has now...

313

SBP forecasts up to 2.5pc GDP growth in current fiscal year

The State Bank of Pakistan (SBP) has improved its growth outlook for the country, predicting that the national GDP will grow between...

285

Bank Alfalah Recognized as a Market Maker by PSX

Bank Alfalah has now become the country’s first commercial bank designated as a Market Maker for Debt Securities at the Pakistan Stock...

378

RCEP: 15 Asia Pacific countries sign world’s largest free trade agreement

Fifteen Asia Pacific countries signed the world’s biggest free trade deal which is seen as an enormous coup for China in order...

298

Pakistan’s textile hub revives as 50,000 shut power looms become operational

Faisalabad is currently experiencing a financial boom with the operationalization of 50,000 power looms and expecting the opening of another 30,000 units....

Imran Khan at Naya Pakistan Certificates ceremony

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PM Imran Khan Inaugurates Naya Pakistan Certificates for overseas Pakistanis

Prime Minister Imran Khan launched the much anticipated Naya Pakistan Certificates (NPCs) for overseas Pakistanis to incentivise investment. NPCs can be obtained...

236

ADB to Provide $300 million Loan To Pakistan

In order to support the fragile foreign exchange reserves and remove barriers to imports, the Asian Development Bank (ADB) will lend $300...

243

Remittances stay over $2bn for fifth month, October grow by 14pc

According to the State Bank of Pakistan, the country’s remittances remained above $2 billion for the fifth consecutive month in October 2020....

317

Kashmiri silk carpets becomes a hit at 3rd China International Import Expo

Handmade Kashmiri silk carpets have gained popularity in China as the carpets became one of the best-selling products at the 3rd China...

360

Pakistan’s beauty startup Conatural raises $825,000 in Pre-Series A round

Lahore-based natural beauty startup Conatural has raised $825,000 in a pre-Series A round from experienced institutional and angel investors. Pakistan’s natural and...

312

SECP mulls new legal framework for digital financial assets

The Securities and Exchange Commission of Pakistan (SECP) has decided to release a directive framework for guideline and monitoring of the digital and...

490

Pakistan reopens application receiving process for Kamyab Jawan Program

The government of Pakistan restarted the application process for providing soft loans to the Pakistan youth under the Kamyab Jawan Program scheme....

496

Pakistan’s fashion e-commerce startup Bagallery raises $900,000

The Karachi-based beauty and fashion e-commerce startup Bagallery has closed a $900,000 Pre-Series A funding round from Lakson Investments Venture Capital (LIVC)....

922

11.11 Sale 2020: Pakistan’s top brands join hands for Daraz Gyara Gyara Sale

This year’s co-sponsors of the Daraz Gyara Gyara Sale are top brands like OnePlus, Xiaomi, Nestle, Unilever, P&G, Haier, TCL, Huawei, Byco...

749

Pakistani rupee becomes 3rd best performing Asian currency

On Monday, the Pakistani rupee became the third best-performing currency of Asia by reaching an almost eight-month high at Rs 158.9 against...

340

CPEC brought $25 billion of FDI to Pakistan in 7 Years

CPEC has brought $25 billion worth of foreign direct investment (FDI) to Pakistan, said the Chinese Foreign Ministry spokesperson on Wednesday. Bringing...

258

Cement Sector Records Highest Ever Monthly Despatches in October

Amid the economic revival, the cement sector has touched a record peak in October as mills dispatched 5.735 million tons to consumers....

504

11.11 Sale 2020: Daraz geared up to launch its biggest annual Gyara Gyara sale

Daraz geared up for the biggest sale event of Pakistan as the 11.11 (Daraz Gyara Gyara) is just around the corner and...

270

Trade deficit shrinks 1.88% from July to October

The country’s trade deficit witnessed reduction of 1.88 percent during the first four months of current fiscal year (2020-21) as compared to...

342

PM Imran announces relief package for SMEs with 50pc cut on power tariff

On Tuesday, Prime Minister Imran Khan announced a major relief package by reducing power tariff for Small and Medium Enterprises (SMEs) to...

765

Blitz Advertising becomes foodpanda’s offline media agency

To expand services across the country, foodpanda has awarded its $1.875 million offline media management agency for Pakistan to Blitz Advertising, an...

509

Pakistan gets textile orders from top brands Hugo Boss, Guess, Target

The textile sector of Pakistan which suffered heavily from COVID-19 restrictions is fast returning to the growth phase as it is receiving...

378

Online shopping starts falling as Pakistanis tentatively step out

The trend of online shopping has started declining gradually as almost all activities in the country have been resumed and so Pakistanis...

451

PSO reports profit after tax of Rs 5.1 billion in Q1 of FY21

The state-owned petroleum corporation, Pakistan State Oil (PSO) in its financial results for the quarter ended on September 30, 2020, revealed an...

685

China Three Gorges to become first Chinese company to list subsidiary on PSX

By the second quarter of 2021, Renewable energy company Three Gorges First (TGF) Wind Farm Private (Pvt) Limited (Ltd) a subsidiary of...

947

United States working on to introduce the ‘Digital Dollar’

With the association of the Massachusetts Institute of Technology (MIT), US Federal Reserve has begun research on the development of central bank...

300

SBP makes remitting disinvestment proceeds easier to help attract FDI

The State Bank of Pakistan (SBP) announces a new and more “transparent mechanism, with complete delegation to banks” so that remitting disinvestment...

512

10 new IPOs at PSX on the cards: Asad Umar

Asad Umar, Federal Minister for Planning, Development, and Special Initiatives said that 10 new IPOs are being planned by companies for listing...

740

Rupee at 5-month high against dollar, reducing Pakistan debt by Rs760 billion

The Pakistani Rupee is gradually gaining momentum against the US Dollar in the interbank market as it regained Rs 1.12 against the...

279

Expensive Electricity Main Hurdle to Industrial Development, PM Imran

Expensive electricity is the main hurdle to the industrial development of small and medium-sized enterprises, said Prime Minister Imran Khan. Chairing a...

361

Textile exports increase 2.92%, non-textile exports contract 5.6% in first quarter

The exports of textile commodities witnessed an increase of 2.92 percent while non-textile exports shrank 5.63 percent during the first quarter (Q1)...

523

Oppo & Haier want to invest in first Pakistan Digital City

The spokesman of Khyber Pakhtunkhwa (KP) IT Board Danish told reporters that Chinese high-tech companies including OPPO and Haier are interested to...

376

‘Great News’: Pakistan registers Q1 current account surplus of $792mln

On Wednesday, Prime Minister Imran Khan shared the “great news” that the country is heading in the “right direction” as Pakistan’s current...

287

Pakistan, ITFC sign $386m agreement for oil, LNG import

On Monday, Pakistan and International Islamic Trade Finance Corporation (ITFC) signed an agreement amounting to $386 million for the import of oil...

268

Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson for auction theory

The US duo Paul Milgrom and Robert Wilson won the Nobel Prize in Economics for their contributions to auction theory. According to...

385

Govt issues foreign currency account rules to curb forex buying from open market

According to the foreign currency rules of 2020, there could be no depositing of foreign currency in any person’s foreign currency account,...

374

Rs1.4 billion disbursed under Kamyab Jawan Programme

The government has so far disbursed soft loans amounting to Rs 1.4 billion among qualified entrepreneurs under the Youth Entrepreneurship Scheme (YES)...

425

Remittances to Pakistan rise to record $7.1 billion in 1st FY21 quarter

Overseas Pakistanis sent record $7.1 billion remittances in the first quarter of the fiscal year 2021 (July to September), the State Bank...

363

World Bank predicts 0.5% growth in FY-21, poverty to increase in Pakistan

World Bank is predicting a mere 0.5 percent growth in the current fiscal year and due to COVID-induced economic uncertainty poverty may...

787

Pakistani entrepreneur opens takeaways in London phone booths

Tayyab Shafiq, 25 years of Pakistani entrepreneur has launched the smallest takeaway serving delicious Pakistani food in three used London phone booths....

364

Pakistan approves three new SEZs in Islamabad, Punjab and Sindh under CPEC

On Wednesday, Prime Minister Imran Khan approved three new Special Economic Zones (SEZs) that include National Science & Technology Park, Islamabad, JW-SEZ...

socio-economic development of Gilgit-Baltistan

408

Govt committed to socio-economic development of Gilgit-Baltistan

Muhammad Jehanzeb Khan, Deputy Chairman Planning Commission said that the government is fully committed to achieving political stability and socio-economic development of...

608

Pakistani cotton yarn export to China rise over four times

The export of Pakistani cotton yarn to China has increased by 4.36 times to $41.836 million in August from the same period...

747

US, UK and China remain top export destinations for Pakistan during August

US is still the biggest export destination for Pakistan during August 2020, followed by United Kingdom (UK), China and UAE. In August...

920

Punjab launches Rs30bn Rozgar Scheme to facilitate entrepreneurs

Punjab government has launched one of its kind financial programme to facilitate entrepreneurs a program named as ‘Punjab Rozgar Scheme’ designed to...