IFC, local banks to finance $52.2mln for tyre production in Pakistan
KARACHI: The International Finance Corporation (IFC), a member of the World Bank Group, alongside a consortium of Pakistani banks including HBL, Meezan Bank, Bank Alfalah, and Habib Metropolitan Bank, will provide up to $50.2 million in financing to...
PSX Bloodbath: KSE-100 drops record 4,795 points
KARACHI: The Pakistan Stock Exchange (PSX) experienced another day of significant selling on Thursday as equities entered a correction phase. The KSE-100 Index, which had reached a historic high of 116,169.41 on December 16, 2024, plunged by 4,795 po...
Emirates introduces experiential Travel Store in Karachi
KARACHI: Emirates, the world's largest international airline, has officially launched its new Travel Store in Karachi, making it the airline's first experiential retail concept to be rolled out in West Asia. Located in the prestigious Sky Towe...
Pakistan, Bangladesh commit to strengthening bilateral ties
CAIRO: Pakistan and Bangladesh have agreed to further expand and strengthen their bilateral cooperation across various sectors of mutual interest. This understanding was reached during a meeting between Prime Minister Shehbaz Sharif and the Chief Ad...
Youth vital for economic growth, Shehbaz tells D-8 summit
CAIRO: Prime Minister Shehbaz Sharif emphasized the critical role of a country's youth in driving its economic development during his address at the 11th Summit of the Developing Eight (D-8) in Cairo on Thursday. While speaking at the summit, PM She...
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...
