Pak-ADB sign five financing agreements worth $775 Million
The Government of Pakistan and Asian Development Bank (ADB) signed five Financing Agreements of US$ 775 million to support recovery and reconstruction efforts in the flood-affected areas of Balochistan, Khyber Pakhtunkhwa and Sindh. The government has also signed financing agreement with ADB as well as to train the workers in the Punjab province. These projects…
Adil Aziz
ECC gives go ahead to sugar exports
The Economic Coordination Committee (ECC) of the Cabinet approved a summary regarding export of sugar during Fiscal Year 2022-23 and allowed its exports up to 100,000 metric tons (MT). The summary was moved by Ministry of National Food Security and Research before ECC, the meeting of which was presided over by Federal Minister for Finance…
MMBL Partners with Quwat, Industrus to offer Digital Solutions for B2B
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed a strategic partnership with Quwat, the fintech arm of Industrus – a tech service provider catering to the needs of millions of consumers across Pakistan, to offer a robust portfolio of digitally innovative financial products and solutions to individuals as well as Small and…
Temenos and NdcTech sign partnership to expand market reach in Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia, and UAE
Financial institutions will benefit from Temenos’ world-class banking platform and NdcTech’s regional expertise to offer Country Model Bank functionality in these countries Temenos (SIX: TEMN) today announced that it has signed an agreement to grant license rights to NdcTech, a wholly owned subsidiary of Systems Limited and one of its largest regional system integrators partners,…
State Bank of Pakistan Designates Domestic Systemically Important Banks (D-SIBs)
The State Bank of Pakistan (SBP) has announced the designation of D-SIBs for the year 2022 under the Framework for Domestic Systemically Important Banks (D-SIBs) that was introduced in April 2018. The framework introduced by the State Bank is consistent with the international standards and practices and takes into account the local dynamics. It specifies…
PSX loses over 600 points in early trading session
The Pakistan Stock Exchange (PSE) witnessed a considerable drop in the early trading session on Thursday as the KSE-100 Index lost more than 600 points, or 1.1 per cent, in quick manner around 11:10 am. Market experts are attributing the plunge to delays in the completion of the International Monetary Fund’s (IMF) s ninth review and…
Engro Corporation Digitally Transforms Its Procurement
Engro Corporation, Pakistan’s premier conglomerate, has adopted the SAP Ariba Strategic Sourcing suite to enhance efficiencies and transparency across all business units. Integration Xperts partnered with Bloom IT to deliver the Engro Strategic Sourcing integration with S/4HANA, aligned with the vision of Intelligent Spend Management Networks (ISBN) to improve business efficiencies and accelerate the pace…
PSX continues with bullish trend, closes at 41,737.62 points
The 100-index of the Pakistan Stock Exchange (PSX) gained 23.32 points, a slight positive change of 0.06 percent, closing at 41,737.62 against 41,714.30 points on the previous day. A total of 146,710,701 shares were traded during the day as compared to 144,845,613 shares the previous day, whereas the price of shares stood at Rs 3.910…
ABHI is Solving Day-to-Day Financial Problems with Earned Wage Access
A high number of salaried individuals live paycheck to paycheck and are in a constant state of worry about their finances. It’s no shock that the working class in developing countries like Pakistan is battling pressured financial obligations amid rising inflation. If you’re a breadwinner depending on a payout after every 30 days (or longer…
University of Education, UVAS and FrieslandCampina announce research results of their collaborative project of School Milk Program
University of Education (UoE), University of Veterinary and Animal Sciences (UVAS) and FrieslandCampina Engro Pakistan (FCEPL) announced research results of their collaborative project of School Milk Program (SMP) at a ceremony in Lahore. Attendees included Food Minister Sardar Hasnain Bahadur, Dr Yasmin Rashid, Specialised Healthcare and Medical Education Minister, Raja Humayun Sarfaraz, Minister for Higher…