The majority of business community in Pakistan is not very “hopeful” about the ability of caretaker government to cope up with the financial challenges the country is facing. Hence, they fear there is an imminent danger of default, reveals a latest survey conducted by Gallup Pakistan. More than 500 business owners were asked if they […]
Musadik Malik, Pakistan’s Minister of State for Petroleum said that Saudi Arabia is willing to invest $24 billion in Pakistan. He was talking to a local TV channel and mentioned that Pakistan is welcoming investment in energy, IT and agriculture sectors. Ishaq Dar, Finance Minister Pakistan, has also confirmed in a press conference that Saudi […]
The second quarter of 2023 has not been kind to the startup ecosystem of Pakistan as the funding have significantly decreased. According to Data Darbar, the funding have reduced by 95% as compared to the previous year and shows a drop of 77.5% as compared to the previous quarter. The current startup funding in Pakistan […]
Moody’s Investors Service downgraded Pakistan’s local and foreign currency credit rating to Caa3. Earlier, Pakistani currency stood at Caa1. The recent downgrading indicates that the country is at a higher risk of default on foreign debt repayment. A statement issued by the agency on Tuesday read as “In the current extremely fragile balance of payments […]
Picture: Business Recorder Japan’s biggest brokerage and investment bank, Nomura Holdings has warned that Pakistan may face currency crisis soon. According to the economists at Nomura, the seven countries that are at the highest risk of a currency crisis include Romania, Sri Lanka, Egypt, Pakistan, Turkey, the Czech Republic, and Hungary. An economist from the […]
