PSX turns around, gains 312 points
The 100-index of the Pakistan Stock Exchange (PSX) turned around on Thursday and gained 312.55 points, showing a positive change of 0.68 per cent, closing at 46,202.13 points against 45,889.58 points the previous day. A total of 172,158,686 shares valuing Rs.5.345 billion were traded during the day as compared to 129,372,427 shares valuing Rs.3.639 billion…
Adil Aziz
Rupee gains Rs 1.11 against US Dollar
Pakistani Rupee witnessed 13th consecutive recovery session as it gained Rs 1.11 against the US dollar in the Interbank trading and closed at Rs 292.77 against the previous day’s closing of Rs 293.88. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood…
Inefficient SOEs inflict Rs 500 Billion loss to national exchequer in 2022: Finance Minister
Owing to inefficiencies and mismanagement, the deficient State-Owned Enterprises (SOEs) incurred overall losses of around Rs 500 billion to the national exchequer during last year (2022), Caretaker Federal Minister for Finance, Revenue, Economic Affairs, Dr Shamshad Akhtar said. Addressing a press conference, the minister said there were also profit-making enterprises, which earned an aggregate profit…
Endeavor Pakistan & TPL Maps’ “Chasing Impact” Event
Endeavor Pakistan, a leading global organization dedicated to fostering entrepreneurship and supporting high-impact startups to scale, successfully hosted the “Chasing Impact” event at Colabs (Lahore Campus) co-sponsored by TPL Maps. The event witnessed a remarkable turnout and brought together prominent venture capitalists, emerging startups, and renowned entrepreneurs nationwide for a day of insightful discussions, networking,…
Zong 4G announces Huo Junli as new CEO
Zong 4G, Pakistan’s leading telecommunications company, has announced Huo Junli as the new Chairman & Chief Executive Officer (CEO), marking a significant leadership transition. “Huo Junli has officially taken the helm, succeeding Wang Hua, who has served as CMPak’s CEO and Chairman for over five years and will now undertake a new role within the…
SBP awards IPA for establishing 5 digital retail banks
The State Bank of Pakistan (SBP), in a bid to foster innovation, financial inclusion and availability of affordable digital financial services, granted in-principle approval (IPA) for establishing five digital retail banks. Governor SBP, Jameel Ahmad awarded IPAs to the five proposed digital banks- HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic…
PTCL Group extends a compassionate hand to Pakistanis affected by recent natural disasters in Morocco and Libya
Pakistan’s largest telecommunication and integrated ICT services provider, PTCL Group (PTCL and Ufone 4G) has launched a Corporate Social Responsibility (CSR) initiative in response to the devastating natural calamities across the North African countries, Morocco and Libya. The initiative aims to connect families in Pakistan with their loved ones in these crisis-stricken countries to help…
US Embassy working to reduce visa appointment wait time
The Embassy of the United States said steps were being taken to reduce visa appointment wait time for the people of Pakistan. “Demand for US visas is the highest it has ever been. We are processing more visa applications than ever before and are working hard to bring down visa appointment wait times,” said a…
World’s first Shariah-Compliant OPD Company, Siha Health & Wellness, Acquired by Tabani Group
Tabani Group, a renowned business conglomerate in Pakistan, has acquired the world’s first and only Sharia-Compliant OPD Company Siha Health and Wellness Private Limited as a subsidiary. The company has been accredited unanimously by 17 Islamic scholars from Pakistan, Africa, UAE, India, and Bangladesh as a fully Shariah-compliant entity. Siha specializes in tailor-made cashless health…
PSX marks launch of JS Global Banking sector ETF with a gong ceremony
A gong ceremony was held at the Pakistan Stock Exchange (PSX) to formally launch and celebrate the listing of the JS Global Banking Sector Exchange Traded Fund (JSGBETF). The commencement of trading of units of JSGBETF took place on September 11, 2023, this is the first ETF to be launched by a brokerage house in…