KARACHI, December 20 2024: The stock market in Pakistan displayed resilience on December 20, 2024, with the KSE 100 Index making a significant recovery after three consecutive days of declines. The benchmark index surged by 3.05%, closing at 109,513 points, as investors seized the opportunity to purchase shares during the dip, encouraged by the prevailing…
KARACHI, December 20 2024: The State Bank of Pakistan (SBP) has unveiled its first Quarterly Payment Systems Review for FY25, spotlighting the nation’s progress in adopting digital payments and building a cashless economy. The report, covering July to September 2024, underscores a remarkable surge in digital transactions, infrastructure development, and a declining reliance on cash-based…
KARACHI, December 18 2024: The State Bank of Pakistan (SBP) has launched the new eCIB System (V2), an upgraded version of its Electronic Credit Information Bureau (eCIB). This system is scheduled to replace the existing eCIB system starting January 1, 2025. Developed to align with technological advancements and international reporting standards, the new system aims…
KARACHI, December 10th 2024: The Karachi Stock Exchange (KSE-100) endured a day of heightened volatility, as the index swung dramatically within a 4,000-point range. The session, marked by intense profit-taking, saw the index reach a high of 1,789 points before plunging to a low of 2,258 points, ultimately settling at 108,896 points. Early optimism fueled…
KARACHI, December 09 2024: In recent years, Pakistan’s textile industry has faced significant challenges, with the Export Facilitation Scheme (EFS) emerging as a major contributor to its downfall. The All Pakistan Textile Mills Association (APTMA) has highlighted the detrimental effects of this scheme on local spinning mills, which are now facing massive closures and mounting…