FBR to launch faceless tax assessment system
KARACHI: The Federal Board of Revenue (FBR) is set to implement the Faceless Customs Assessment (FCA) system in Karachi, marking a significant step in the FBR's transformation plan approved by the prime minister. Under the new system, all import goo...
KSE-100 surpasses 116,000
KARACHI: The KSE-100 Index has reached a historic high, closing above 116,000 points, as investor optimism grows in anticipation of further interest rate cuts by the State Bank of Pakistan (SBP). This marks a significant milestone for the Pakistani...
OGDCL boosts production with revived heavy oil well in Punjab
PUNJAB: Oil and Gas Development Company Limited (OGDCL), Pakistan's largest exploration and production (E&P) company, has successfully revived a heavy oil well in the Rajian Oil Field located in Punjab. The company announced this significant dev...
Fifth Consecutive Cut: SBP slashes policy rate by 200bps to 13%
KARACHI: The State Bank of Pakistan (SBP) has announced a 200 basis points reduction in its key policy rate, lowering it to 13%. This decision marks the fifth consecutive rate cut since June 2024, when the policy rate stood at 22%. The reduction, ef...
Maryam's China visit leads to 13b investment commitment
LAHORE: Punjab Chief Minister Maryam Nawaz's recent visit to China has been hailed as a major success, with Chinese companies pledging over 13 billion rupees (around $50 million) in investments for the province. The visit marked a significant milesto...
Gold price per tola increases Rs3,100
KARACHI: On Wednesday, gold prices in Pakistan registered a notable increase, in line with the rise observed in the international market. In the local market, the price per tola reached Rs280,500, reflecting a single-day gain of Rs3,100. Similarly,...
KSE-100 settles at fresh record high
KARACHI: After a day of intense profit-taking, bullish momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index gaining over 1,900 points to reach a new all-time high of 110,810. The index saw an intra-da...
FPCCI launches Pakistan-EU Forum to boost bilateral trade, investment
Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), announced the establishment of the Pakistan-EU Forum. This initiative aims to enhance economic and trade relations between Pakistan and EU...
China plans $1bln Medical City in Dhabeji special economic zone: Sindh Government
ISLAMAAD: A Chinese business delegation has expressed ‘deep interest’ in establishing a $1 billion medical city in the Dhabeji Special Economic Zone (SEZ) located in Thatta, Sindh. The development came during a visit by a high-powered de...
State Bank partners with Systems Limited and Temenos to modernize core banking system
Karachi: State Bank of Pakistan (SBP) and Systems Limited announces a landmark agreement to upgrade and modernize its Core banking platform to the latest Temenos core banking software and implementation of best-in-class Temenos Payment Hub to m...
