Category: Business

KARACHI: The State Bank of Pakistan (SBP), on Thursday, issued detailed instructions to facilitate overseas Pakistanis in order to access their bank accounts. Under the new arrangement, overseas Pakistanis can now approach their respective banks through email or surface mail and provide identity documents like valid Passport, visa, CNIC and National Identity Card for Overseas […]

KARACHI: Stocks exte­nded the relief rally on Wed­n­e­sday as the KSE-100 index recovered another 240.73 points (0.73 per cent) and closed at 33,439.69. Market sentiments turned to guarded positivity after investors’ fear over major confrontation between the government and opposition subsided a bit as the two teams settled down to some kind of a dialogue. […]

KARACHI: Banks offered huge liquidity of about Rs2 trillion for government Treasury bills in the auction held on Wednesday but the central bank only accepted bids over half a trillion. The State Bank of Pakistan’s (SBP) auction report showed investors willing to park large amount of liquidity in the T-bills of all three tenures. The […]

ISLAMABAD: Just days after Pakistan escaped being blacklisted by the Financial Action Task Force (FATF), the government has disclosed that as part of the global watchdog’s action plan, more than 700 under-investigation suspected terror financing cases are near adjudication. Addressing a news conference on Wednesday, Minis­ter for Economic Affairs Hammad Azhar, who was the chief […]

ISLAMABAD: The country’s large-scale manufacturing output shrank for fifth month in a row, raising fears of massive layoffs across the industrial sector. The LSM index dipped by 7.06 per cent in the second month of this fiscal year from a year ago, the Pakistan Bureau of Statistics (PBS) reported on Friday. In comparison, the index […]

Twitter shares plunged on Thursday after reporting glitches that impacted its ad-targeting ability, pulling down revenue growth in the past quarter. Profit for the third quarter was $37 million, a sharp drop from last year when the online messaging platform was helped by a large tax benefit. Revenue rose nine per cent from a year […]

Malaysian Prime Minister Mahathir Mohamad on Tuesday said he would not retract his criticism of New Delhi’s actions in occupied Kashmir despite Indian traders calling for an unprecedented boycott of Malaysian palm oil. The impasse could exacerbate what Mahathir described as a trade war between the world’s second biggest producer and exporter of the commodity […]

ISLAMABAD: The government on Monday said that delays in policy adjustments in FY18 primarily drove the rise in inflation hitting lower and middle classes. Finance government has come up with a series of reasons that lead to a rise in inflation, largely hitting middle and lower middles class. In a detailed statement, the Finance Division […]

ISLAMABAD: The Senate Standing Committee on Industries and Production criticised the government on Monday for its failure in coming up with a revival plan for Pakistan Steel Mills (PSM) and Utility Stores Corporation (USC) after more than a year. The committee further noted that a cabinet member was facilitating smuggling of steel scrap from Iran […]

WASHINGTON: Pakistan is committed to fully implementing its action plan to counter money laundering and terrorist financing by February next year and there’s no disagreement among various governments’ institutions on this matter, says Financial Adviser Abdul Hafeez Shaikh. A global watchdog for money laundering and terrorist financing — the Financial Action Task Force (FATF) — […]