Bitcoin fell to a 3-1/2-month low on Friday, dragged by uncertainty about U.S. President Donald Trump’s tariff plans and crypto policy and flagging investor confidence after a $1.5 billion hack in rival coin ether. Bitcoin, the world’s largest cryptocurrency by market value, was last down more than 5% on the day at $79,666, trading below […]
Finance
The Bank of Punjab achieves its highest profitability and announces a record cash dividend, the highest-ever since its inception in 1989
A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on 17th February 2025 to review and approve the Annual Audited Financial Statements for the year ended December 31, 2024. Despite facing challenges on both the revenue and expenditure sides, including the implementation of IFRS-9, the debt restructuring of a […]
Measures undertaken to improve Pakistan’s macroeconomic stability: Aurangrzeb
Minister of Finance, Muhammad Aurangzeb was the Chief Guest at the Pakistan Pavilion lunch hosted by the Pathfinder Group under the theme “Investment in Pakistan,” on the sidelines of the Annual Meeting of the World Economic Forum in Davos. In his address, the minister highlighted the measures undertaken to improve Pakistan’s macroeconomic stability and underscored […]
Govt weighs ‘mini-budget’ or spending cuts ahead of IMF talks
The government, led by Prime Minister Shehbaz Sharif, is gearing up for high-stakes discussions with the upcoming International Monetary Fund (IMF) staff mission, aiming to finalize a strategy by this weekend. One option under consideration is the introduction of a mini-budget, which could include seven proposed tax hikes across various sectors. However, the Federal Board […]
Pakistan’s Liquid Foreign Reserves Position
July 25, 2024 The total liquid foreign reserves held by the country stood at US$ 14,335.4 million as of 19-July-2024. The break-up of the foreign reserves position is as under: i) Foreign reserves held by the State Bank of Pakistan: US$ 9,027.2 million ii) Net foreign reserves held by commercial banks : US$ 5,308.2 million […]
US dollar continues upward trajectory against Pakistani rupee
The price of the US dollar reached Rs278.65 in the interbank trading against the Pakistani rupee on Wednesday. The American currency continued its upward trajectory in the interbank trading against the local unity. The KSE-100 index gained 302 points and reached the 79700 benchmark.
Workers Remittances Surge to $30.3 billion in FY2024
KARACHI: Remittances sent by overseas Pakistanis from different countries crossed over $ 30 billion by the end of the financial year 2023-2024. According to the statistics released by the State Bank of Pakistan, the inflow of $30.3 billion in workers’ remittances increased by 10.7 percent during FY24 compared to the inflow of $27.3 billion […]
Workers Remittances Surge to $30.3 billion in FY2024
KARACHI: Remittances sent by overseas Pakistanis from different countries crossed over $ 30 billion by the end of the financial year 2023-2024. According to the statistics released by the State Bank of Pakistan, the inflow of $30.3 billion in workers’ remittances increased by 10.7 percent during FY24 compared to the inflow of $27.3 billion […]
BIZNET24: Women’s Empowerment Key to Financial Inclusion
Pakistan’s leading innovation hub, BizNet, held its highly successful third edition at the President House in Islamabad. Partnering with the Women Business Network, the event brought together industry leaders, policymakers, and startup founders. Their focus: promoting financial inclusion and advancements in technology. “Embracing Financial Inclusion & Business Transformation” served as the central theme. Iftikhar Hussain, […]
Downward slide of Dollar against Rupee
The US dollar continued its downward slide to the fifth consecutive day against the rupee on Friday. With the greenback shedding around Rs16 in a week in the interbank amid assurance from the IMF for the release of a USD1.17 billion tranche. In the interbank today, the US dollar shed Rs2.05 to trade at Rs224.10 […]