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The State Bank of Pakistan (SBP) has released data on the country’s foreign exchange reserves. According to the SBP, the country’s foreign exchange reserves decreased by 284.7$ million in the last trading week of December. SBP said that the country’s total foreign exchange reserves stood at 11.42$ billion as on December 30, 2022. According to …
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Canada has granted 4,37,000 immigration grants to immigrants last year in 2022, setting a record for the largest annual intake of people in Canadian history. The government of Canada has always focused on boosting the economy with the help of immigrants and almost 100% of the Canadian economy runs on immigrant labor. The immigration minister …
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Inflation rates are increasing day and day and so is the price of gold. The price of gold has witnessed a spike recently. Gold prices rose and became Rs. 3300 per tola in Pakistan breaking all the previous records. However, gold prices remained unchanged in the international bullion market but broke records in Pakistan on …
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The economic crisis has impacted many businesses. Numerous industries such as Millat Tractors, Toyota Motors, Suzuki Motors, and Indus Motors suspended their operations in Pakistan due to high inflation rates, and a ban on imported raw materials. This situation has created immense trouble for businesses in Pakistan. Now, another industry, KSB Pakistan suspends production which …
Karachi: BankIslami and Institute of Business Management (IoBM) entered into an agreement to establish a “Center for Islamic Business & Finance” in Karachi on 28th December, 2022. The MoU signing ceremony was organised at the main campus of IoBM. The event was attended by CEO of BankIslami Syed Amir Ali, President IoBM Mr. Talib S. …
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As the year 2022 is nearing its end, analysts are looking at the possibilities 2023 can bring. The Mastercard Economics Institute released its annual forecast for a multi-speed global economy in “Economic Outlook 2023.” However, what does a multi-speed global economy mean? According to the Mastercard Economics Institute, the multi-speed global economy means that some …
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An extremely critical level of $5.82 billion was reached by the State Bank of Pakistan’s (SBP) foreign exchange reserves on Thursday, according to statistics. This represents a further $294 million decline. SBP-held reserves are at their lowest level since April 2014. The nation’s total holdings of liquid foreign exchange were $11.71 billion. There were $5.89 …
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Karachi: President of Korangi Association of Trade Industry (KATI) Faraz-ur-Rehman welcomed the decision by the government and State Bank to lift the ban on LCs. KATI termed it as optimistic for the economy. President KATI said that the government had accepted the long-standing demand of the business community, and the ban would have created a …
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Karachi: Globe Residency REIT (GRR) was listed at the Pakistan Stock Exchange on Wednesday by Arif Habib Dolmen REIT Management Limited at a Gong Ceremony, making it Pakistan’s first listed Developmental Real Estate Investment Trust (REIT). Minister for Finance, Senator Ishaq Dar was the Chief Guest on the occasion. Arif Habib, Chairman, Arif Habib Dolmen …
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One of the largest textile companies in Pakistan, Nishat Chunian has announced that it will partially close down operations in the company. Nishat Chunian Limited discussed in the Pakistan Stock exchange filing that, ‘the company has an installed capacity of 219,528 spindles and 2,880 rotors in its spinning division. Company has decided to temporarily close 51,360 …
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