Rupee gains 0.18% against dollar this week boosted by an unexpected rise in foreign exchange reserves A foreign currency dealer counts US dollars at a shop in Karachi on March 2, 2023. — Online Inflows from multilateral lenders to support rupee. Local currency gains 0.18% against dollar this week. Rupee to trade range-bound in … Read more
Clothes with discount signs are displayed at a shop in Cambrai on the first day of summer sales in France, June 30, 2021. — Reuters Brands violating directive to face enforcement actions: CCP. Discrepancies observed in approximately 96% of outlets. CCP advises consumers to exercise vigilance while shopping. ISLAMABAD: The Competition Commission of Pakistan (CCP) has … Read more
Pakistan Stock Exchange (PSX), after bottoming out at a three-year low in 2023, ended the year as the best performing bourse around the globe in the backdrop of a $3 billion International Monetary Fund (IMF) loan programme, disappearance of chances of debt default and successful completion of first IMF review. The benchmark KSE-100 index registered … Read more
ZURICH: Switzerland’s financial regulator wants to discuss the ability to claw back bonuses from bankers as part of stronger powers following the fall of Credit Suisse and sale to UBS. “The question is on the table and must be discussed now,” FINMA Chairwoman Marlene Amstad told newspaper Schweiz am Wochenende, when asked about the … Read more
ISLAMABAD: The federal government’s expenditure surged to Rs4.83 trillion in five months due to an unmanageable interest cost and a slight opening of the public purse for other spending, raising questions about claims of achieving fiscal consolidation. Finance Ministry sources revealed that the tight control maintained over expenditures until October was slightly relaxed last … Read more
KARACHI: IT consultants and experts are urging a strategic exploration of new and non-traditional markets, particularly Gulf Cooperation Council (GCC) countries. The goal is to attract foreign direct investments (FDI) and boost exports in the Information Technology (IT) and IT-enabled services sector. Several leading companies have already established their presence in these markets by … Read more
LAHORE: Pakistan’s agriculture sector had been in the limelight throughout calendar year 2023 but it did not make any significant improvement despite some supportive measures and relief packages announced by the government. Battling with the aftermath of massive flooding in the monsoon of 2022, the agriculture sector, called the backbone of rural economy, somehow … Read more
Pakistan International Airlines (PIA) has urgently appealed to the government for financial assistance, seeking relaxation from the State Bank of Pakistan (SBP) to arrange a loan of Rs15 billion from commercial banks. Facing operational challenges and potential risks of suspension, the Civil Aviation Authority (CAA) has already granted a Rs5 billion facility to keep … Read more
Oil prices are set to end 2023 about 10% lower after two years of gains as geopolitical concerns, production cuts and central bank measures to rein in inflation triggered wild fluctuations in prices. On Friday, oil climbed after falling 3% the previous day as more shipping firms prepared to transit the Red Sea route. … Read more
Portal to serve as one-window operation for customers to register their complaints against banks, MFBs and DFIs State Bank of Pakistan (SBP) building. — AFP/File In a move aimed at facilitating the customers via an expedited redressal of complaints, the State Bank of Pakistan (SBP) Friday launched its “Sunwai” customer service portal and mobile … Read more