Category: Business

Business news from Pakistan

EXCHANGE RATES FOR CURRENCY NOTES

KARACHI, Apr 08 (APP):CURRENCY SELLING/BUYING USD 190.54 186.27GBP 248.95 243.32EUR 206.90 202.64 JPY 1.5370 1.5025SAR 50.85 49.60AED 51.89 51.05 LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDSLIBOR 1M 0.45143LIBOR 3M 0.98643LIBOR 6M 1.50171 US DOLLAR Indicative FBP Rates CURRENCY SIGHT/15 DAYS 1M 2M 3M 4M 5M 6M USD 188.00 187.85 187.19 186.31 185.77 184.97 184.13… Continue reading EXCHANGE RATES FOR CURRENCY NOTES

Currency rates of NBP

KARACHI, Apr 08 (APP):Following are the selling/buying rates Of major currencies issued by the National Bank of Pakistan (NBP), here on Friday. CURRENCY SELLING BUYINGUSD 190.54 186.27GBP 248.95 243.32EUR 206.90 202.64 JPY 1.5370 1.5025SAR 50.85 49.60AED 51.89 51.05

Indicators show economy performing well despite challenges

ISLAMABAD, Apr 7 (APP): As demonstrated by various indicators, the county’s economy has been performing well so far despite global economic shocks caused due to Covid-19 pandemic and disruption in supply chain, hence necessitating the need for stability at political front to continue the trend. The economic indicators including revenue collection, remittances, external trade, large-scale… Continue reading Indicators show economy performing well despite challenges

OICCI members spend Rs14.5 bn on CSR in 2020-21

KARACHI, Apr 07 (APP):The members of Overseas Investors Chamber of Commerce and Industry (OICCI) once again reaffirmed their commitment to uplift Pakistani society from all aspects and invested Rs 14.5 billion in different CSR and sustainable projects during 2020-21. THe OICCI statement issued here on Thursday said about 100 of the leading foreign investors and… Continue reading OICCI members spend Rs14.5 bn on CSR in 2020-21

ADB, LDC sign $100 mln loan to support smallholder farmer livelihoods, climate resilience

ISLAMABAD, Apr 7 (APP):The Asian Development Bank (ADB) and Louis Dreyfus Company B.V. (LDC) Thursday signed a loan of up to $100 million to help smallholder farmers recover from the economic challenges caused by the coronavirus disease (COVID-19) pandemic and improve their resilience to climate change impacts. The loan will support LDC’s operations in India,… Continue reading ADB, LDC sign $100 mln loan to support smallholder farmer livelihoods, climate resilience

Gold prices reach all time high to Rs 132,800

ISLAMABAD, Apr 6 (APP): Despite decline at international market, the price of 24 karat per tola gold witnessed an increase of Rs 800 and reached all time high to Rs132,800 as compared to its sale at Rs132,000 in the local market the previous day. The price of 10 gram 24 karat gold also increased by… Continue reading Gold prices reach all time high to Rs 132,800

SNGPL, SSGC repair 887-km pipelines, rectify 1447,342 leakages

ISLAMABAD, Apr 06 (APP):The Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) have collectively repaired around 887-kilometer faulty pipelines and rectified 1447,342 leakages in line with the government strategy to bring down the Unaccounted for Gas (UFG) ratio. Besides, the companies’ experts inspected around 13,388 Town Border Stations (TBSs) and rectified… Continue reading SNGPL, SSGC repair 887-km pipelines, rectify 1447,342 leakages

Pakistan’s economic growth to moderate to 4% in FY22: ADB

ISLAMABAD, Apr 5 (APP):After a strong economic rebound in fiscal year (FY) 2021, Pakistan’s economic growth is expected to moderate to 4% in FY2022 due to tighter fiscal and monetary policies before picking up again in FY2023, the Asian Development Bank (ADB) said in a report on Wednesday. According to the Asian Development Outlook (ADO)… Continue reading Pakistan’s economic growth to moderate to 4% in FY22: ADB

Meezan Bank, SNGPL join hands for digitalization of consumer bill collection in Punjab, KPK, AJK

ISLAMABAD, Apr 5 (APP): Meezan Bank, Pakistan’s leading Islamic bank has recently signed an agreement with Sui Northern Gas Pipelines Limited (SNGPL), the largest integrated gas company in North Central Pakistan, to enable digitalization of consumer bill collection via the Bank’s state-of-the-art Transaction Banking Solution (eBiz+). The agreement was signed by Irfan Siddiqui – Founding… Continue reading Meezan Bank, SNGPL join hands for digitalization of consumer bill collection in Punjab, KPK, AJK

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SECP issues guidelines to facilitate conduct of general meetings

ISLAMABAD, Apr 05 (APP): The Securities and Exchange Commission of Pakistan has issued two sets of guidelines to facilitate and standardize the role of officers of listed companies and use of technology during general meetings. These guidelines will address impediments faced by listed companies, their shareholders and stakeholders, said a press release issued here. Guidelines… Continue reading SECP issues guidelines to facilitate conduct of general meetings

Rashakai, SEZs to start new era of industrial development

ISLAMABAD, Apr 5 (APP): The Board of Investment (BOI) on Tuesday said that Rashakai Special Economic Zone will usher in a new era of industrial development in the country. The Completion of Rashakai Economic Zone will encourage foreign investment and provide adequate facilities to foreign investors, the senior official of BOI told APP here. The… Continue reading Rashakai, SEZs to start new era of industrial development

PSX gains 26 points to close at 43,928 points

ISLAMABAD, Apr 5 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Tuesday, gaining 26.03 points, with a positive change of 0.06 percent, closing at 43,928.08 points against 43,902.05 points on the last working day. A total of 115,644,646 shares were traded during the day compared to the trade of… Continue reading PSX gains 26 points to close at 43,928 points

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USA, China, UK remain top 3 destinations of Pakistani exports during 8 months

ISLAMABAD, Apr 5 (APP):The United States remained the top export destinations of Pakistani products during the first eight months of financial year (2021-22), followed by China and United Kingdom (UK). Total exports to the USA during July-February (2021-22) were recorded at US $4410.593 million against the exports of US $3079.375 million during July- February (2020-21),… Continue reading USA, China, UK remain top 3 destinations of Pakistani exports during 8 months

Services’ exports up by 18.17% in 8 months, 13.73% in February

ISLAMABAD, Apr 5 (APP): The exports of services from the country witnessed an increase of 18.17 percent during the first eight months of the current financial year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-February (2021-22) were recorded at US $… Continue reading Services’ exports up by 18.17% in 8 months, 13.73% in February

IMF to continue support Pakistan after ‘new gov’t is formed’

ISLAMABAD, Apr 04 (APP):The International Monetary Fund (IMF) Monday assured Pakistan that it would continue its support “once the new government is formed.” “There is no concept of suspension within the IMF programme,” the Fund said in a brief statement issued in this regard. In a tweet, the Finance Ministry said that Finance Division and… Continue reading IMF to continue support Pakistan after ‘new gov’t is formed’

Supernet receives Shariah Screening Certificate from Meezan Bank

ISLAMABAD, Apr 4 (APP):Supernet Limited (‘SNL’), a subsidiary of Telecard Limited has been awarded Shariah Screening Certificate by Meezan Bank Limited, based on the review of consolidated financial statements of SNL, certifying its compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange, this was announced in a notice by Telecard sent… Continue reading Supernet receives Shariah Screening Certificate from Meezan Bank

Exports grow by 24.67pc to $23.298 billion in nine months

ISLAMABAD, Apr 4 (APP): The exports from the country witnessed an increase of 24.67 percent during the first nine months of the current fiscal year (2021-22) as compared to the corresponding months of last year, Pakistan Bureau of Statistics (PBS) reported. According to PBS data, the exports from the country were recorded at $23.298 billion… Continue reading Exports grow by 24.67pc to $23.298 billion in nine months

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