Trade deficit narrows by 40% in two months
The trade deficit contracted by 40.29 percent during the first two months of the current fiscal year compared to the corresponding period of last year. The Trade deficit during July-August (2023-24) was recorded at $3.763 billion as against the deficit of $6.302 billion in July–August (2022-23), showing negative growth of 40.29 percent. During the period…
Adil Aziz
NBP offers financial services to promote international trade: Shaikh Shariq
The National Bank of Pakistan (NBP) has set up a stall in the Pakistan Pavilion at the China International Fair for Trade in Service (CIFTIS) to offer financial services to more and more clients in China and other countries to promote trade among them, Chief Representative, Shaikh Muhammad Shariq said. “CIFTIS is one of the…
Karachi Slush’D hosts a fireside chat between Spotify and Coke Studio
The recently concluded Slush’D event in Karachi included a much-anticipated fireside chat between Khan FM, Spotify’s Artist and Label Partnerships Manager for Pakistan, Sri Lanka, and Bangladesh, and Zeeshan Haider Sikander, Coke Studio Manager for Coca-Cola in Eurasia and Middle East. Representing two of the most loved music brands in the country, the two individuals…
Monetary Policy Committee to meet on September 14: SBP
The State Bank of Pakistan (SBP) clarified that the next meeting of the Monetary Policy Committee (MPC) was scheduled for September 14, 2023 and reports about holding of emergency meeting were baseless. The central bank in a statement issued here refuted the reports making rounds in the media about holding an emergency meeting of the…
Petroleum prices govt has failed to read the writing on the Wall: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has unequivocally stated that the government has no clue that what will be the socioeconomic repercussions of the third massive hike in petroleum prices as FPCCI can see the inflationary pressures to mount beyond the control of any sector or industry to absorb. Industrial shut downs; decline in exports;…
IMF sees interest rates remaining high for ‘quite some time’
EMERGING markets face a more volatile and uncertain future, and must rebuild fiscal buffers, boost revenues, diversify trade and gird for trillions of dollars in annual climate change costs, the International Monetary Fund’s No 2 official said. IMF First Deputy Managing Director Gita Gopinath told the biennial conference of the South African Reserve Bank that external…
Fertilizer imports grew 130.40 % in 1st month of FY 2023-24
Fertilizer-manufactured imports into the country during the first month of the current financial year grew by 130.40 per cent as compared to the imports of the corresponding month of last year. During the month of July 2023 about 18,995 metric tons of fertilizer valued at $11.388 million were imported as compared to the imports of…
CDNS attains Rs 210 Billion targets in fresh bonds
The Central Directorate of National Savings has attained target of Rs 210 billion in fresh bonds in the current fiscal year, from July 1st to August 31, 2023-24. The Central Directorate of National Savings surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year from…
Sunridge Foods Receives Prestigious Brand of the Year 2022 Award, Reinforcing Commitment to Food Security
Sunridge Foods, a leading Pakistani FMCG company in the food sector, has been honored with the esteemed Brand of the Year 2022 award in the staple flour category. The recognition was conferred during the distinguished 12th edition awards distribution ceremony by the Brands Foundation Organization and sanctioned by the Brands Accreditation Council. The receipt of…
SECP holds a roundtable on strategic direction of insurance sector of Pakistan
The Security and Exchange Commission of Pakistan (SECP) organized a roundtable to firm up the strategic direction of the Insurance Sector of Pakistan with the chairpersons of the boards and chief executive officers (CEOs) of all insurance companies. The session was titled “Journey to an insured Pakistan”, said a press release issued. The roundtable was…