Lahore 1st Oct, 2023: Rashid Ashraf, the CEO of ACE Money Transfer, has suggested a multifaceted strategy to save the precious foreign exchange reserves of the country. The State Bank of Pakistan last week reported that the nation’s overall foreign reserves amounted to $13,079.1 million. Pakistan’s foreign reserve levels have experienced a downward trend in…
KARACHI: In spite of the dismal economic circumstances, external account pressures, highest-ever inflation reading in FY23, and lower demand across major sectors, the profitability of the KSE-100 index showcased an upward trend, posting a healthy growth 20.6% YoY in FY23 and 70.3% YoY in 4QFY23. According to Arif Habib Limited, the growth in profitability (PAT)…
Karachi, Septmeber 27, 2023: Digital transactions continued growth trajectory owing to the increased consumers’ preference for digital channels of mobile and internet banking for meeting their financial needs. Overall, mobile and internet banking transactions witnessed an annual growth of 57 percent by volume and 81 percent by value during the last fiscal year (FY23). The…
Islamabad, September 27, 2023: MoU for Bill and Melinda Gates Foundation’s (BMGF), assistance through Karandaaz will be signed on the sidelines of the World Bank meetings in Morocco in October 2023. The Caretaker Federal Minister for Finance, Revenue and Economic Affairs, Dr. Shamshad Akhtar met the Country Lead (Pak), Bill and Melinda Gates Foundation (BMGF),…
KARACHI, September 18, 2023: Pakistan Stock Exchange (PSX) witnessed a slight uptick on the first day of the week, closing the benchmark KSE-100 index at 45,803 points, signifying a 0.11 percent increase, equivalent to a gain of 49 points. Throughout the trading session, the market index remained relatively stable, with investors displaying limited enthusiasm. Banks, E&P,…