Business
Pakistan finalises deal with UAE for $3 billion
Karachi, January 22, 2019: Pakistan has finalised deal with UAE for $3 billion for support of balance of payment. Earlier this month, UAE announced $3 billion for Pakistan to ease the pressure on external account. Sources said that in this regard Abu Dhabi Fund for Development and State Bank of Pakistan (SBP) Tuesday finalized the…
P&G invests some $50 million in Pakistan with state-of-the-art Hair Care Manufacturing Plant
Karachi – Jan 21, 2019: Procter and Gamble (P&G) has invested in a state-of-the-art hair care manufacturing plant at Port Qasim, Karachi. The new manufacturing plant has begun operations and is producing renowned hair care brands Pantene and Head & Shoulders. P&G has reaffirmed its commitment to Pakistan by expanding its manufacturing footprint in the country….
SBP to reimburse T.T Charges on Dam Fund remittances
Karachi, January 17, 2019: In order to encourage banks to collect more funds for construction of Dams, State Bank of Pakistan (SBP) has announced to reimbursement of TT Charges on dam fund remittances transactions. SBP has announced that the amount received by domestic banks from overseas Pakistanis as donations/contributions for the ‘Prime Minister and Chief…
Muhammad Aurangzeb elected Chairman PBA
Karachi, Jan. 15, 2019: On completion of the term of Aftab Manzoor, as Chairman, Pakistan Banks’ Association (PBA), Muhammad Aurangzeb, President & CEO, Habib Bank Limited, has been unanimously elected as Chairman PBA. The PBA elections were held in Karachi on January 14, 2019. Muhammad Aurangzeb joined HBL on April 30, 2018 as the President &…
Pakistan allows duty free import of cotton
Islamabad, January 15, 2019: The federal government on Tuesday allowed duty free import of cotton to facilitate the export oriented textile sector. Sources told Thebizupdate.com that the Economic Coordination Committee (ECC) of the cabinet has approved withdrawal of customs duty, additional customs duty, sales tax on import of cotton for five months. They informed…