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Rupee recovers value against dollar in interbank
Karachi: Rupee gained value against dollar in interbank trading after government took measures to fulfil prerequisites for unlocking critical $ 1.1 billion International Monetary Fund tranche. In interbank market, rupee closed at 265.38 after gaining...
Govt extends date for encashment of prize bonds
Karachi: State Bank of Pakistan (SBP) announced an extension for encashment and redemption of withdrawn prize bonds of Rs 7,500, Rs 15,000, Rs 25,000 and Rs 40,000. Date for encashment of prize bonds has been extended to June 30, 2023, statemen...
President calls for streamlining banking, insurance sector
Karachi: President Dr Arif Alvi has called for streamlining banking and insurance sector in economic interest of country. Addressing seminar here, he said that country could be steered on path of progress by following teachings of Quaid-e-Azam Muhamm...
Fitch downgrades Pakistan to ‘CCC-’
KARACHI: Fitch Ratings has downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-” from “CCC+”, statement from agency said. Downgrade reflects further sharp deterioration in external liqu...
Gerry’s organises soft launch of SIA
Karachi: Singapore Airlines (SIA), flag carrier of Republic of Singapore appointed Gerry’s International as its General Sales Agent (GSA) in Pakistan. Announcement was made at an event held here attended by industry professionals, representativ...
Dreamworld, Destination, PBBC, ICCIA hold event on Blue Economy
Karachi: Dreamworld Resort in collaboration with Destination Projects Pvt. Ltd, Pakistan Britain Business Council (PBBC) and Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) organised business networking event. It will engage business co...
Pakistani workers’ remittances fall to 31-month low: SBP
Karachi: Remittances sent home by overseas Pakistani workers fell to over two-year-low as dollar cap imposed to stabilise rupee against dollar by government earlier. It prompted illegal transfers through hundi, hawala and other channels. Data release...
Petrol crisis to hit Pakistan by mid-Feb, refineries warn
KARACHI: Refineries warned of looming petrol crisis by mid-February if government fails to resolve payments issues of imported raw materials and additives needed by sector. Delay in payments of raw materials and additives as well as dollar shortage h...
Flynas launches electronic service of ‘stopover visa’
KARACHI: flynas Saudi air carrier and leading low-cost airline in Middle East announced that its passengers can apply for an electronic Stopover Visa through its website. ‘Stopover Visa’ is issued after purchasing airline ticket and valid...
KSE-100 Index falls over 725pts
Karachi: Negative sentiments prevailed at Pakistan Stock Exchange (PSX), as benchmark KSE-100 Index fell over 700 points as Pakistan and International Monetary Fund failed to reach staff level agreement for next tranche of loan. By the end of day, KS...
