Rupee gains 7 paisa against dollar By: APP on July 27, 2024Pakistani rupee on Friday appreciated by 07 paisa against the US dollar in the interbank trading and closed at Rs 278.33 against the previous day’s closing of Rs 278.40. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.50 and […]
PSX loses 439 more points By: Agencies on July 27, 2024The 100-index of Pakistan Stock Exchange remained bearish on the last business day of the week, losing 439.83 points, a negative change of 0.56 percent, before closing at 78,029.50 points against the previous day close of 78,469.33 points. During the trading session, a total of 278,327,575 shares were traded during the day as compared to […]
FBR committed to resolving taxpayer issues in KP, governor told By: APP on July 27, 2024Governor Khyber Pakhtunkhwa (KP) Faisal Karim Kundi visited the Federal Board of Revenue (FBR) headquarters and met with Chairman FBR Malik Amjed Zubair Tiwana and discussed various tax-related matters and issues faced by the people of the province. The Chairman FBR assured the Governor that all possible measures would be taken to resolve the issues […]
China and Saudi Arabia expected to rollover $9bn debt By: Agencies on July 27, 2024Pakistan is anticipating to secure a rollover of $9 billion in debt from China and Saudi Arabia for the fiscal year 2024-25. In addition, Pakistan is seeking funding for the Diamer-Bhasha Dam project. Sources from the Ministry of Economic Affairs indicate that Pakistan expects a $500 million facility from the Islamic Development Bank for oil […]
Gold price increases by Rs 1,000 per tola By: News Desk on July 27, 2024After registering a decrease in the previous session, gold prices in Pakistan registered gains on Friday in line with the increase in the international rate. In the local market, gold price per tola stood at Rs251,500 after an increase of Rs1,000. The 10-gram gold was sold at Rs215,621 after it registered an increase of Rs858, […]
Central bank likely to cut interest rate next week By: Reuters on July 27, 2024Pakistan’s central bank will likely cut its key interest rate again on Monday in its first policy meeting following the signing of a staff level agreement with the International Monetary Fund and a new state budget, analysts said. Pakistan and the IMF reached an agreement for the 37-month loan program this month. Tough measures such […]
SBP injects Rs 9.54tr into market By: APP on July 27, 2024The State Bank of Pakistan (SBP) injected Rs9,545 billion in the market on Friday through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO). According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on July 26, 2024 for 7-day and 28-day tenors and accepted 30 […]
Minister stresses SEZs’ role in attracting investment By: APP on July 27, 2024Minister for Industries and Production, Rana Tanveer Hussain on Friday emphasized the significance of Special Economic Zones (SEZs) in attracting Foreign Direct Investment (FDI) and fostering industrialization, noting that the relocation of Chinese industries presents a significant opportunity for Pakistan. While addressing a report titled Aligning Special Economic Zones Policies of Pakistan and China the […]
New taxes on mobile phones set to drive prices higher By: Agencies on July 27, 2024The Federal Board of Revenue (FBR) has introduced a new sales tax policy, effective from July 25, 2024, which is set to impact mobile phone prices significantly. Under the updated Sales Tax Act, 1990, a 25% sales tax will be imposed on completely built-up (CBU) mobile phones valued over $500, while those priced under $500 […]
ABHI along with MoIT participates at 2024 Global Digital Economy Conference in Beijing on July 26, 2024Beijing, China, 25th July 2024 – ABHI, an embedded finance platform was honored to be invited to participate in the 2024 Global Digital Economy Conference in Beijing, China as part of the Ministry of IT and Telecom Pakistan delegation along with other Pakistan’s leading startups. The four-day conference, themed “Embarking on a New Era of […]