China has affirmed its decision to uphold a ban on specific Japanese food imports in response to the proposed release of water from the damaged Fukushima nuclear plant into the ocean. In addition, China’s customs administration announced the implementation of radiation tests on food originating from other regions within the country. While South Korea also… Read More »
Pakistan’s foreign exchange reserves, managed by the central bank, saw a substantial increase of $393 million, reaching $4.462 billion by the week ending June 30, according to the latest report by the State Bank of Pakistan. This surge in reserves can be attributed to the inflow of official funds. The total reserves held by the… Read More »
Karachi, Pakistan – In a significant move, Pakistan and the United Arab Emirates (UAE) have joined hands to pave the way for the development of renewable energy projects in Pakistan. The agreement, signed in Islamabad, was witnessed by Pakistan’s Prime Minister Shehbaz Sharif and Sultan Ahmed Al Jaber, the UAE’s Special Envoy for Climate Change… Read More »
The Pakistan Microfinance Network (PMN) is proud to introduce its newly elected Chairman, Mr. Kabeer Naqvi, a seasoned professional with a remarkable background in the financial industry. With his extensive expertise, Mr. Naqvi is poised to lead PMN in its mission to foster financial and social inclusion while driving economic empowerment for the underserved population… Read More »
Film stars and celebrities are demanding that Wimbledon sever ties with Barclays due to the bank’s involvement in fossil fuel projects. Prominent figures such as actress Emma Thompson and film director Richard Curtis have criticized Barclays for “profiting from climate chaos.” Campaigners Rally Against Barclays Partnership Renowned personalities Emma Thompson and Richard Curtis, along with… Read More »
The government of Pakistan has developed a new Medium-Term Debt Management Strategy to address its external financing needs in the coming years. With the support of the International Monetary Fund (IMF), the government aims to secure funding through 10- to 15-year international bonds and concessional multilateral loans. Additionally, it intends to diversify its local debt… Read More »
In a groundbreaking move that promises to revolutionize Pakistan’s financial landscape, the renowned South African firm, DNI Group, has made a significant investment of $1 million into Neem, an emerging startup in the country. This strategic partnership aims to foster innovation, catalyze growth, and promote embedded finance in Pakistan. Enhancing Neem’s Banking-as-a-Service Technology and Platform… Read More »
The Finance Ministry recently announced that the Economic Coordination Committee (ECC) of the Cabinet has given its approval for a supplementary grant of Rs4 billion to Pakistan International Airlines (PIA). This grant is intended to cover the interest payments on loans, which amounted to nearly Rs23 billion. The meeting was chaired by Finance Minister Ishaq… Read More »
Pakistani Authorities Undertake Decisive Measures to Align Policies with IMF-Backed Economic Reform Programme In a recent statement, Nathan Porter, the mission chief for Pakistan at the International Monetary Fund (IMF), commended the Pakistani authorities for their proactive approach in bringing policies in line with the IMF-supported economic reform programme. These measures, he explained, encompassed various… Read More »
The gold price in Pakistan and the international market experienced a notable increase at the beginning of the week on Monday. Gold Price Surge: Pakistan Market In the Pakistan market, the price of 24-carat gold witnessed an upsurge of Rs800 per tola and Rs685 per 10 grams, settling at Rs215,300 and Rs184,585, respectively. These figures… Read More »