Telenor Microfinance Bank lending revenue increases by 45% in Q1-2023
Telenor Microfinance Bank (TMB) achieved an impressive year-on-year increase of 45 percent in lending revenue backed by Rs 7 billion disbursements through a completely digital, cashless, and paperless process. TMB operator of Pakistan’s leading digital financial services platform, easypaisa, has reported its financial results for first quarter of 2023, showcasing a strong performance despite challenging…
Adil Aziz
President directs banks to refund over Rs 0.5 Million to bank fraud victims
President Dr Arif Alvi directed two private banks to refund an amount of Rs 564,469 to three victims of bank fraud in cases of online funds transfers and fraudulent ATM transactions. The President gave these directions while deciding on three separate representations filed by Allied Bank Ltd (ABL), United Bank Ltd (UBL), and a citizen against…
Reduction in petroleum prices to provide impetus to industry, curtail inflation: FPCCI
United Business Group (UBG) of the Federation of Pakistan Chamber of Commerce and Industry hailing the decision of the government to reduce fuel prices said that it will help curtail inflation, cut down the cost of production and provide impetus to industry. Chairman UBG Shahzad Ali Malik said that it’s a good decision of the…
PSW Extends Coverage to Dry Ports in Pakistan
Pakistan Single Window (PSW) has extended the scope of its operations to all dry ports (except Quetta) with effect from May 3, 2023, a move that will further facilitate the country’s cross-border trade operations. With the new development, goods and commodities clearance of commercial consignments classified under Chapters 1 to 50 of the Pakistan Customs…
Debt Service Suspension Agreement with Korea signed
The Government signed a Debt Service Suspension Agreement with Republic of Korea amounting to deferment of payment of loans worth $19.911 million, under the G-20 Debt Service Suspension Initiative (DSSI) framework. This amount, initially had to be repaid between July and December 2021, will now be repaid over a period of six years (including one-year…
Pakistan-Czech Republic trade volume reaches over $300 Million: Czech Envoy
Ambassador of the Czech Republic to Pakistan Tomáš Smetánka that the bilateral trade volume between Pakistan and Czechia had reached over $300 million and both countries were focusing on enhancing trade in multiple sectors like the mining industry and agriculture sector. “Pakistan’s exports to the Czech Republic are about four times higher than the Czech exports to…
Pakistan and Ethiopia ready for significant progress in economy and technology
Minister of State for Innovation and Technology of Ethiopia Dr Foziya Amin said that visit of Ethiopian delegation to Pakistan would contribute to further strengthen trade ties between both countries. She said that there are vast opportunities of cooperation between both countries in various fields including economy, IT, science and technology. She stressed the need…
More than 2 million Toyota users face risk of vehicle data leak in Japan
TOYOTA Motor said on Friday (May 12) the vehicle data of about 2.15 million users was left publicly available in Japan for about a decade from November 2013 to mid-April. The incident comes as the world’s biggest automaker by sales makes a push into vehicle connectivity that is seen as crucial to offering services such…
Emirates Group announces 2022-23 results
Group reports annual profit of AED 10.9 billion (US$ 3.0 billion), a new profit and revenue record and a significant turnaround from last year Emirates reports its most profitable year ever with a profit of AED 10.6 billion (US$ 2.9 billion) compared with AED 3.9 billion (US$ 1.1 billion) loss in the previous year dnata…
Rupee on losing spree; sheds Rs 8.71 more against Dollar
Pakistani rupee witnessed a drop of an all-time low as it faced further devaluation of Rs 8.71 against the Dollar in the Interbank trading, mainly due to uncertainty caused by the PTI riots, and closed at Rs 298.93 against the previous day’s closing of Rs 290.22. According to the Forex Association of Pakistan (FAP), the…