Workers’ remittances up 14.1% to $2.3bln in October, witness 26.4% growth in 4 months

ISLAMABAD, Nov 12 (APP): The Workers’ remittances mounted to $ 2.3 billion during October 2020, showing an increase of 14.1 percent during the month under review when compared to October 2019. This is for the fifth consecutive month that workers’ remittances remained above $2.0 billion for in October 2020, according to latest figures released by… Continue reading Workers’ remittances up 14.1% to $2.3bln in October, witness 26.4% growth in 4 months

SBP initiatives help reduce pace of Non-Performing Loans

ISLAMABAD, Nov 12 (APP):The increase in Non-Performing Loans (NPLs) could have been higher, had the State Bank of Pakistan (SBP) not allowed banks to consider the deferment and restructuring or rescheduling of loans on borrowers’ request, according to Mid-Year Performance Review of the Banking Sector. In its Mid-Year Performance Review of the Banking Sector (January-June… Continue reading SBP initiatives help reduce pace of Non-Performing Loans

Despite COVID-19 impacts, banking sector assets expand 7.8 percent: SBP

ISLAMABAD, Nov 11 (APP): The State Bank of Pakistan Wednesday said that despite elevated economic stress driven by the COVID-19 pandemic, the assets of the banking sector witnessed a decent expansion of 7.8 percent during the first half of the calendar year 2020 (H1CY20). The central bank Wednesday issued the Mid-Year Performance Review (MPR) of… Continue reading Despite COVID-19 impacts, banking sector assets expand 7.8 percent: SBP

Bulls rule PSX for 3rd consecutive day, index mounts to 41,197 points

ISLAMABAD, Nov 11 (APP): The Pakistan Stock Exchange (PSX) witnessed bullish trend for the third consecutive day on Wednesday as the KSE-100 index closed at 41,197 points against 41,153 points on the last working day, with positive change of 44.27 points (0.11%). A total 244,284,313 shares valuing Rs 8.648 billion were traded during the day… Continue reading Bulls rule PSX for 3rd consecutive day, index mounts to 41,197 points

Around 4.37% surplus witnessed in Pak-UK trade: SBP

File Photo

ISLAMABAD, Nov 11 (APP): Pakistan’s goods and services trade with United Kingdom (UK) witnessed surplus of 4.37 percent during first three months of current financial year (2020-21) as compared to the corresponding period of last year. The overall surplus was recorded at US $252.8 million July-September (2020-21) against US $242.2 million during July-September (2019-20), showing… Continue reading Around 4.37% surplus witnessed in Pak-UK trade: SBP

CPEC Central Asia Business Conference to be held in Gwadar from Nov 16

ISLAMABAD, Nov 11 (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) is going to hold a three-day business conference titled “China Pakistan Economic Corridor (CPEC) Central Asia” in Gwadar from November 16 to 18. The conference would be attended by Chief Minister, Governor Balochistan, ministers, high government officials, foreign diplomats, and trade and industrial… Continue reading CPEC Central Asia Business Conference to be held in Gwadar from Nov 16

Forensic audit team formed to analyze dry/shut-in oil, gas wells

ISLAMABAD, Nov 10 (APP): Amid fast depletion of existing hydrocarbon deposits and increased energy demand, the Petroleum Division has constituted a team to conduct a forensic audit of the dry/shut-in wells drilled in different parts of the country by oil and gas Exploration & Production (E&P) companies. “A four-member core committee has been constituted under… Continue reading Forensic audit team formed to analyze dry/shut-in oil, gas wells

PSX continues with bullish trend, gains 369 points to close at 41,153 points

ISLAMABAD, Nov 10 (APP):The Pakistan Stock Exchange (PSX) continued with bullish trend on second day of the week on Tuesday as the KSE 100 index closed at 41,153 points against 40,784 points on the last working day, with positive change of 369.01 points (0.90%). A total 355,986,126 shares were traded during the day compared to… Continue reading PSX continues with bullish trend, gains 369 points to close at 41,153 points

Rupee further rises against US dollar

ISLAMABAD, Nov 10 (APP): The exchange rate of Pakistani rupee strengthened by 22 paisas against US dollar in the interbank trading on Tuesday and closed at Rs158.69 against the previous day’s closing of Rs158.91. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at… Continue reading Rupee further rises against US dollar

ICCI calls for exempting markets from smart lockdown in Capital

File Photo

ISLAMABAD, Nov 10 (APP): Islamabad Chamber of Commerce and Industry (ICCI) has urged the local administration to exempt all markets and business areas from the imposition of smart lockdown. They urged to take measures to ensure the implementation of SOPs in order to curb the 2nd wave of Covid-19 pandemic in the federal capital as… Continue reading ICCI calls for exempting markets from smart lockdown in Capital

PBS launches dashboards to provide time series and info-graphic data

ISLAMABAD, Nov 10 (APP):The Pakistan Bureau of Statistics (PBS) on Tuesday launched two dashboards, including PSLM_SDGs and Price, under its Digital Transformation initiative to provide latest information along with time series and info-graphic of data. The dashboards have been launched for achieving the bureaus objective of collecting, compiling and disseminating of data in reliable and… Continue reading PBS launches dashboards to provide time series and info-graphic data

Pakistan among a few countries that manage Covid-19 effectively: Hafeez

ISLAMABAD, Nov 10 (APP): Advisor to Prime Minister on Finance, Dr. Abdul Hafeez Shaikh said here that Pakistan was one of a few governments of the world that effectively managed the COVID-19 pandemic and saved people from its negative effects. “When Covid-19 attacked us like other world, the Pakistani government was one of the few… Continue reading Pakistan among a few countries that manage Covid-19 effectively: Hafeez

Pakistan can save $5 bn by scaling up renewable energy: WB

ISLAMABAD, Nov 10 (APP): New World Bank study launched Tuesday suggests that a major scale-up of variant renewable energy (VRE) could help Pakistan save US$5 billion in costs over the next 20 years, mainly from reduced fuel consumption. Pakistan should quickly implement a major scale-up of solar and wind generation, it added. The Variable Renewable… Continue reading Pakistan can save $5 bn by scaling up renewable energy: WB

PSX turns around, gains 52 points to close at 40,784points

ISLAMABAD, Nov 9 (APP):The Pakistan Stock Exchange (PSX) Monday turned around and witnessed bullish trend as the KSE 100 index closed at 40,784 points against 40,731 points on the last working day, with positive change of 52.43 points (0.13%). A total 276,797,965 shares were traded during the day compared to the trade of 350,438,388 shares… Continue reading PSX turns around, gains 52 points to close at 40,784points

OGDCL produces 36,221 BPD oil, 904 MMCFD gas, 714 TPD LPG in 1st quarter

ISLAMABAD, Nov 9 (APP):The Oil and Gas Development Company Limited (OGDCL) has produced around 36,221 36,221 BPD crude oil, 904 MMCFD gas and 714 TPD LPG gas during first quarter of the current fiscal year despite coronavirus pandemic and natural decline in existing hydrocarbon deposits. The company, during corresponding period of the last year, extracted… Continue reading OGDCL produces 36,221 BPD oil, 904 MMCFD gas, 714 TPD LPG in 1st quarter

SBP Governor lauds Sialkot business community for building airport

SIALKOT, Nov 08 (APP): State Bank of Pakistan (SBP) Governor Dr Reza Baqir said on Sunday the local business community deserve congratulations for building an international standard airport on self-help basis which had raised the image of the country. He expressed these views while addressing a function held in his honor after visiting Sialkot International… Continue reading SBP Governor lauds Sialkot business community for building airport

State Bank of Pakistan would continue to facilitate Industry,businesses: Dr Baqir

APP33-07 SIALKOT: November 07 - State Bank of Pakistan Governor Raza Baqir, along with Seema Kamil, Deputy Governor, State Bank of Pakistan, President SCCI Qaiser Iqbal Baryar addressing to Business community at Chamber of Commerce and Industry. APP photo by Muhammad Munir Butt

SIALKOT, Nov 07 (APP): The Governor of State Bank of Pakistan, Dr Reza Baqir on Saturday assured of all-out support to the exporters of the city,and assured that his team would always be there to enhance linkages and resolve issues of Industry. While addressing a meeting with the business community here, he lauded the role… Continue reading State Bank of Pakistan would continue to facilitate Industry,businesses: Dr Baqir

Kitchen items’ prices ease as SPI falls 0.12 pc

ISLAMABAD, Nov 07 (APP): The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on November 5 , for the combined consumption group, witnessed decrease of 0.12 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 142.81 points against 142.98… Continue reading Kitchen items’ prices ease as SPI falls 0.12 pc

ECC approves minimum wheat support price at Rs1,650 per 40kg

APP47-06 ISLAMABAD: November 06 Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh chairing a meeting of the Economic Coordination Committee (ECC) of the Cabinet. APP

ISLAMABAD, Nov 6 (APP): The Economic Coordination Committee (ECC) of the Cabinet Friday approved the minimum support price for the wheat crop at Rs1,650 per 40kg while at the same time, it decided to maintain current release price at Rs1,475 per 40kg. The meeting of the committee was held here with Adviser to the Prime… Continue reading ECC approves minimum wheat support price at Rs1,650 per 40kg

Chinese envoy vows to make CPEC a high quality model project of BRI

ISLAMABAD, Nov 6 (APP): The newly appointed Ambassador of China to Pakistan Nong Rong Friday said China wanted to build China Pakistan Economic Corridor (CPEC) as a high quality model project of the Chinese Belt and Road Initiative (BRI). The Chinese envoy called on CPEC Authority Chairman Asim Bajwa here to exchange in-depth views on… Continue reading Chinese envoy vows to make CPEC a high quality model project of BRI

Category: Business

Business news from Pakistan