SECP issues Shariah Compliance Certificate to a startup
The Securities and Exchange Commission of Pakistan (SECP) has issued a Shariah compliance certificate to a licensed non-banking finance company (NBFC) offering Buy Now Pay Later (BNPL) services on the Shariah principle of Musawamah, whereby profit margin is included in the sale price of the commodity. The certificate has been granted to Qist Bazaar (Private)…
Adil Aziz
CCP approves two mergers – home health care, insurance sectors
The Competition Commission of Pakistan (CCP) has granted approval to two mergers in-home healthcare services and non-life insurance sectors. The approvals were granted following the successful completion of Phase-1 competition assessment, conducted in accordance with Section 11 of the Competition Act, 2010, said a press release issued. The CCP approved the merger application filed by…
Unesco seeks regulation in first guidance on GenAI use in education
UNESCO published its first guidance on use of Generative AI (GenAI) for education, urging governmental agencies to regulate the use of the technology, including protection of data privacy and putting an age limit for users. Launched by Microsoft-backed OpenAI in November, GenAI chatbot ChatGPT has become the world’s fastest growing app to date, and its…
SBP Introduces Structural Reforms in the Exchange Companies’ Sector
State Bank of Pakistan has decided to introduce structural reforms in the Exchange Companies’ sector. As part of these reforms, leading banks actively engaged in foreign exchange business will establish wholly owned Exchange Companies to cater to the legitimate foreign exchange needs of general public. Furthermore, various types of existing Exchange Companies and their franchisees…
FDI increases by 17.3% in August: Economic Outlook Report
Foreign Direct Investment in the country during first month of current financial year (2023-24) witnessed about 17.3 percent growth as compared to the investment of the corresponding month of last year. By the month of July 2023, the FDI reached $87.7 million against the investment of $ 74.8 million in same period of the last…
2023 CIFTIS: Pakistani companies attract large number of visitors
As 2023 marks the 10th anniversary of the Belt and Road Initiative (BRI) and China Pakistan Economic Corridor (CPEC), Pakistani Ambassador to China Moin ul Haque noted that the Government of Pakistan was stepping up to facilitate the exchanges and cooperation between both countries. This year, at the ongoing 2023 China International Fair for Trade…
Pakistani Origin Ahmed Larik Selected Among Top 100 Saudi Technology Leaders
He is the only Pakistani who receive this recognition this year Pakistani Origin IT Wizard Ahmed Ali Larik has been selected among the Top 100 Saudi visionary leaders by the prestigious platform DT100 for his extraordinary contribution in the transformation of the digital banking landscape. Ahmed Ali Larik became limelight as an accomplished visionary professional…
Digital Domination: Opportunities and Challenges Unveiled at ITCN Asia 2023
Day 2 of the ITCN Asia 2023 conference witnessed a captivating event titled “Digital Domination: Opportunities and Challenges,” which provided valuable insights into the evolving landscape of technology and education. Held in Karachi, this event was conducted in partnership between the Institute of Business Management (IoBM), also an Academic Partner for ITCN Asia 2023, and…
Spotify Reveals Popular Trends amongst Gen Z and Millennials of Pakistan
With the love for pop and all its iterations on the rise, the youth of today is gravitating towards younger artists including the likes of Talha Anjum and Abdul Hannan As the youth continues to drive musical trends in Pakistan, Spotify has revealed exciting data highlighting the artists, tracks, and genres that are the most…
PSX witnesses bullish trend, gains 394 points
The 100-index of the Pakistan Stock Exchange witnessed bullish trend on Monday (September 04) and gained 394.77 points, showing growth of 0.87 percent, closing at 45,707.43 points against 45,312.66 points the previous trading day. A total of 139,251,269 shares were traded during the day as compared to 161,824,998 shares, whereas the trading value of shares…