Paymob, 1LINK partner to fuel digital payments in Pakistan
Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P) and Pakistan’s largest interbank network, 1LINK, have announced a partnership agreement to power instant online payouts for merchants registered with Paymob via 1LINK’s payment infrastructure, with Bank Alfalah Ltd. serving as its settlement bank. This partnership represents a unique and…
Adil Aziz
SBP Governor for evolving effective strategy to avert impacts of climate change
State Bank of Pakistan (SBP) Governor Jameel Ahmad underlined the urgent need for creating required resilience against negative impacts of climate change to protect humans, agriculture and livestock, besides uplifting the regional economies to alleviate vulnerabilities faced by them. Addressing the SAARCFINANCE Symposium here, he said Pakistan was ranked among the top 10 most affected…
Majid Al Futtaim expands retail footprint in Pakistan with twelfth Carrefour store
The ground-breaking has begun for Carrefour’s twelfth store in the country Two new standalone stores in Defence Housing Authority (DHA) will be operational by the end of 2023 Majid Al Futtaim – the leading shopping mall, communities, retail and leisure pioneer across the Middle East and Africa – has further expanded its retail footprint in…
SECP Introduces Regulatory Framework for ‘Online Only’ Brokers
The Securities and Exchange Commission of Pakistan (SECP) has approved the regulatory framework for online only brokers through amendments to the Pakistan Stock Exchange (PSX) Rulebook, paving the way for the launch of Online Only Brokers in Pakistan. Cognizant of growing demand for online investing platforms, the SECP is committed to promoting innovation in the…
Germany commits €120 Million for fighting climate change to Pakistan
Federal Minister for Climate Change and Environmental Coordination Senator Sherry Rehman held a bilateral meeting with a delegation from Germany’s Federal Ministry for Economic Cooperation and Development (BMZ), led by Federal Minister Svenja Schulze, at the sidelines of the Petersberg Climate Dialogue happening in Berlin, Germany. During the meeting, the two sides engaged in discussions…
ADB’s private sector operations boost support for climate action, food security
The Asian Development Bank’s (ADB) private sector operations in 2022 saw project commitments reach $1.1 billion with the percentage of projects receiving climate finance double the level of 2021, according to ADB’s Private Sector Operations in 2022 – Report on Development Effectiveness. The report, prepared by ADB’s Private Sector Operations Department (PSOD), cites a number…
Faysal Bank Announces Strong Financial Results for First Quarter 2023
Faysal Bank Limited, one of the prominent Islamic banks in Pakistan, has shown exuberant performance in the first quarter of the year, reflecting its strong business fundamentals and prudent risk management. According to the financial report released by the Bank, the Bank’s net profit for the first quarter of 2023 was Rs. 3.2 Bn, which…
Emirates Boarding Pass Unlocks Hundreds of Offers in Dubai this summer
Exclusive offers at hundreds of locations in Dubai and the UAE when customers show their Emirates boarding pass Emirates has today announced the return of its popular My Emirates Pass. Starting from 1st May 2023 to 30th September 2023, My Emirates Summer Pass enables customers to get even more from their trip with five months…
Lucky Cement achieves highest-ever profit
Lucky Cement Limited achieved its highest-ever profit after tax of Rs. 48.5 billion, for the nine months period tended March 31, 2023 of which Rs 11.6 billion is attributable to non-controlling interests. This represents an impressive 82.9% increase compared to the same period last year. The resultant earnings per share (EPS) for the period come…
ADB Board of Governors’ four-day annual moot starts today
The Asian Development Bank (ADB), one of the top international financial lenders, is all set to hold the Board of Governors’ 56th annual meeting at South Korean city Incheon, bordering the capital of Seoul, from May 2 to 5. The theme for this year’s conference is “Rebounding Asia: Recover Reconnect, and Reform,” wherein relevant issues…