Pakistan, Saudi Arabia expected to ink a US one billion dollar agreement in oil sector
Pakistan and Saudi Arabia are expected to ink an agreement of over US one billion dollars in the days ahead in the oil sector, through the Saudi Development Fund, a Saudi news channel. “The coming days will witness the signing of an agreement between the Kingdom and Pakistan through the Saudi Development Fund for Development…
Adil Aziz
Cashbacks on bills: K-Electric partners with Savyour and VISA for savings
Promoting a culture of bill payments through digital means, K-Electric (KE) has partnered with Visa, the world leader in digital payments, and Savyour – Pakistan’s only consumer’s reward platform to provide cashbacks to the customers on paying their KE bills. This is an industry first in the power sector where a company is offering discounts…
4th Financial Crime Summit to be held this Week
The 4th Financial Crime Summit will be held this week on January 14, 2023 in Karachi, with the theme ‘Post-FATF Financial Crime Action Plan – Continuing the National Anti-Financial Crime Agenda’. The Summit is being organized by Dellsons Conferences under the banner of Dellsons Associates, together with its Knowledge Partner, A. F. Ferguson & Co.,…
World Bank projects Pakistan’s growth at 2.0 percent in FY 2022/23, amid warning of global recession
With the World Bank warning that the global economy is “perilously close to falling into recession”, the development lender forecast Pakistan’s growth at 2.0 percent in fiscal year 2022/23 (July-June), in its annual Global Economic Prospects report Tuesday. The bank said the figure for Pakistan growth was “half the pace that was anticipated last June,…
PSX turns around to bullish trend, gains 296 points
The 100-index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend on Tuesday, gaining 296.75 points, a positive change of 0.73 percent, closing at 40,801.51 against 40,504.76 points the previous day. A total of 214,346,791 shares were traded during the day as compared to 163,939,925 shares the previous day, whereas the price…
PSX becomes signatory of women’s empowerment principles
In a positive move forward signifying Pakistan Stock Exchange’s (PSX) efforts to promote increased women participation, gender equality and adopting gender-responsive policies, PSX has become a signatory of Women’s Empowerment Principles (WEPs). According to PSX press release received here, WEPs, the founding partners of which are UN Women and UN Global Compact, are a set…
IT Ministry finalises draft of Telecom Airwaves Spectrum Re-farming Framework
The Ministry of Information Technology and Telecommunication (MoITT) has finalized the draft of the first-ever Telecom Airwaves Spectrum Re-farming Framework (TASRF). “Telecommunication is glad to finalize the framework on spectrum refarming which is first of its kind prepared with recommendations from Pakistan Telecommunication Authority (PTA), Pakistan Electronic Media Regulatory Authority (PEMRA), Frequency Allocation Board (FAB) and industry stakeholders…
19.7 Million mobile phones, smart devices manufactured locally in last year
Pakistan’s local mobile industry witnessed remarkable growth as the companies have manufactured around 19.7 million mobile phones and smart devices during the last calendar year, especially after the government introduced a Mobile Manufacturing Policy to encourage local production. “Due to increased local manufacturing, the import of mobile and smartphone devices has decreased from 10.26 million…
CDNS achieve Rs 740 Billion through fresh bonds by January 8
The Central Directorate of National Savings (CDNS) achieved the target of issuing Rs 740 billion in fresh bonds in the current fiscal year 2022-23 from July 01 to January 8, 2023. The CDNS has set a reviewed saving target of Rs 1.3 trillion for the current financial year (2022-23) which will “promote the savings culture…
Pakistan secures over $ 10 Billion in pledges at Climate Resilience Conference
Pakistan secured over $ 10 billion pledges from the international financial institutions, donor agencies and development partners for the rehabilitation, recovery and reconstruction of flood affected areas, during an International Conference on Climate Resilience. The major pledges made at the conference, co-chaired by Pakistan and the United Nations in Geneva, Switzerland, included $ 4.2 billion…