Rupee on losing spree; sheds Rs 8.71 more against Dollar
Pakistani rupee witnessed a drop of an all-time low as it faced further devaluation of Rs 8.71 against the Dollar in the Interbank trading, mainly due to uncertainty caused by the PTI riots, and closed at Rs 298.93 against the previous day’s closing of Rs 290.22. According to the Forex Association of Pakistan (FAP), the…
Adil Aziz
Business community condemns politics of violence
The business community condemning politics of violence warned such anti state activities of disgruntled unscrupulous elements would further inflict colossal loss to bleak economy and deepen economic crunch in the country. Talking to a delegation of industrialists and traders led by Shahid Nazir,Coordinator to Federal Tax Ombudsman Meher Kashif Younis said that politics of confrontation…
SECP registers 1,760 companies in April 2023
The Securities and Exchange Commission of Pakistan (SECP) registered 1,760 new companies in April 2023, bringing the total number of registered companies to 191,924. The total paid-up capital (capitalization) of the companies incorporated in April was Rs 2.9 billion. Approximately 57 percent of businesses were registered as private limited companies, 41 percent as single-member businesses,…
Pakistan’s total foreign reserves reach at $ 9.99 Billion
The total liquid foreign reserves of Pakistan stood at US$ 9,990.4 million while reserves held by the central bank reached US$ 4,383.4 million. The State Bank of Pakistan, in a statement issued here on (11-May) Thursday, informed that foreign reserves of the central bank decreased by US$ 74 million to US$ 4,383.4 million due to…
ECC approves settlement agreement of Roosevelt Hotel
The Economic Coordination Committee (ECC) of the Cabinet after a detailed discussion approved the execution of the settlement agreement of the Roosevelt Hotel, New York with the Hotel Union and the New York City Government. The ECC met here with Minister for Finance and Revenue Senator Mohammad Ishaq Dar in chair discussed a summary submitted…
Musk says video and audio calls coming to Twitter
TWITTER boss Elon Musk put out word that audio and video calls are coming to the platform. “Coming soon will be voice and video chat from your handle to anyone on this platform,” Musk said in a tweet. “So you can talk to people anywhere in the world without giving them your phone number.” In a…
Workers’ remittances down 13pc in July-April FY-23
The overseas workers’ remittances posted a decline of 13 percent during first ten months of fiscal year 2022-23 as the remittances fell from $26.143 billion in July-April of FY-22 to $22.741 billion in the period under review. On a year-on-year basis, the overseas workers’ remittances recorded an inflow of US$2.210 billion in April 2023, posting…
SECP and ICAP hold capacity building session on Sustainability Disclosures and Reporting
The SECP in partnership with Institute of Chartered Accountants of Pakistan (ICAP) holds an awareness and capacity building session on Sustainability disclosures and reporting in perspective of evolving international framework for corporate sustainability reporting The session was a full day event attracting huge interest from diverse stakeholders comprising of representation from companies, multilateral institutions, professional…
Musadik Malik discusses steps to boost Pakistan’s energy productivity with senior US officials
The visiting Minister of State for Petroleum, Musadik Masood Malik, discussed with senior U.S. officials ways and means to enhance productivity in the energy sector and plug Pakistan into Global Value Chains, the cross-border networks that bring a product or service from conception to market. During a meeting with Verinda Fike, Regional Director for the…
Jubilee Life Insurance and Sehat Kahani celebrate 100,000+ online OPD consultations
Jubilee Life Insurance, one of the country’s largest private sector life insurance companies in collaboration with Sehat Kahani, a leading one-stop telemedicine solution recently surpassed 100,000+ consultations for policyholders with world-class doctors. A celebratory event was held at Jubilee Life’s Head Office attended by Mr. Javed Ahmed, Managing Director and CEO, Jubilee Life Insurance, Mr….