Introduction of eCIB System (V2) The State Bank of Pakistan (SBP) has announced the launch of the new Electronic Credit Information Bureau system, eCIB (V2), set to become operational on January 1, 2025. This upgraded system is designed to replace the existing eCIB infrastructure, aligning with technological advancements and international reporting standards. Enhancements in Credit […]
Significant Increase in Profit Repatriation Foreign investors have repatriated $807.2 million in profits and dividends from Pakistan during the first four months (July-October) of the fiscal year 2024-25 (FY25), marking a 66% increase compared to $485 million in the same period of the previous fiscal year. Breakdown of Repatriated Funds Sector-Wise Analysis The food sector […]
As of December 18, 2024, gold rates in Saudi Arabia have shown notable fluctuations, reflecting broader global market trends. Currently, 24-karat gold is priced at SAR 238 per gram, while 22-karat gold stands at SAR 220 per gram. These changes are influenced by factors such as shifts in the US dollar’s value, geopolitical tensions, and […]
The US dollar has strengthened against the Pakistani rupee, driven by fresh inflation data and monetary policy expectations. The interbank rate saw the dollar trading higher, as concerns over domestic inflation and global economic trends weigh on the rupee. Pakistan’s economy continues to face challenges, including a widening trade deficit and fluctuating foreign exchange reserves. […]
Gold prices in Pakistan have slipped from their recent five-week highs, following global trends influenced by fluctuating economic data. The decline is attributed to a strengthening dollar and renewed investor interest in equities, both of which have tempered demand for safe-haven assets like gold. In the local market, the per-tola rate of gold saw a […]
The government of Pakistan has issued a travel advisory urging citizens to avoid non-essential travel to Syria due to escalating violence in the region. The advisory highlights increased risks to civilians as the conflict intensifies, particularly in urban centers. Pakistani officials have emphasized the importance of prioritizing safety, urging citizens currently in Syria to register […]
Pakistan is at risk of missing five critical targets set by the International Monetary Fund (IMF) under its $3 billion bailout agreement. These targets include revenue collection, energy sector reforms, and structural adjustments. The looming shortfall could jeopardize Pakistan’s ability to secure future tranches of IMF funding, which are crucial for stabilizing its economy. The […]
Pakistanis aspiring to secure work visas for the United Arab Emirates (UAE) must now meet a new requirement: submitting a police character certificate. This mandatory measure, introduced by the Bureau of Emigration, aims to ensure compliance with UAE regulations and improve the screening process for prospective workers. Details of the New Requirement Adnan Paracha, Vice […]
Pakistani citizens looking to acquire dual citizenship now have an exciting opportunity with the Grenada Citizenship by Investment Program. Launched in August 2013, this initiative provides a streamlined pathway to a second passport for individuals meeting specific eligibility criteria. What Makes Grenadian Citizenship Attractive? Grenada’s Citizenship by Investment Program offers numerous benefits. Successful applicants gain […]
Tesla CEO Elon Musk has solidified his status as the wealthiest individual in history, amassing an astonishing net worth of $348 billion. According to the Bloomberg Billionaires Index, Musk’s financial surge follows a significant rally in Tesla shares, driven by growing optimism on Wall Street regarding business-friendly policies. Tesla Shares Soar The rally in Tesla’s […]
Students from the Federal Urdu University in Karachi have developed a groundbreaking, eco-friendly shoe polish made from natural ingredients, including chicken and beef fat. This innovative product is not only cost-effective but also environmentally conscious, addressing the need for sustainable alternatives to chemical-laden shoe care products. The project was undertaken by students from the university’s […]
The International Agency for Research on Cancer (IARC) Summer School 2025 is a fully funded, prestigious opportunity for Pakistani students, researchers, and healthcare professionals aiming to deepen their expertise in cancer research and public health. Hosted in Lyon, France, this programme brings together experts and learners from around the world to focus on critical areas […]
In a recently published federal report on provincial economic performance, Punjab was shown to lag behind Khyber Pakhtunkhwa (KP) in several key economic indicators. This annual report evaluates provinces based on economic productivity, employment growth, social services delivery, and infrastructure development, with KP’s recent improvements highlighting areas where Punjab has fallen behind. KP’s performance has […]
On November 7, 2024, Pakistan’s Federal Investigation Agency (FIA) successfully executed a raid, seizing Rs25 million from a hawala-hundi network involved in illegal currency transfers. This bust is part of FIA’s broader crackdown on illegal financial networks that operate outside the regulated banking sector, often facilitating tax evasion and money laundering The operation took place […]
Federal Board of Revenue (FBR) launched a countrywide crackdown from where five people have been arrested and under this campaign, involved in heavy money laundering crimes. FBR spokesperson Bakhtiar Muhammad confirmed with ARY News that key personalities of important industries have been included in these arrests. Among those taken into custody is the CFO of […]
The Karachi Chamber of Commerce and Industry (KCCI) has officially requested an extension in the deadline for filing income tax returns, citing multiple challenges faced by businesses and taxpayers. This demand comes as many business owners and professionals in Pakistan struggle to meet the current filing deadline, sparking widespread debate about the need for more […]
Pakistan is in talks with the International Monetary Fund (IMF) to secure an additional $1.5 billion in funding to combat the impacts of climate change, which have wreaked havoc across the country in recent years. The Need for Climate Financing The recent floods and unpredictable weather patterns have highlighted the urgent need for climate adaptation […]
DHA City Karachi: Where Modern Living Meets Natural Beauty Nestled amidst the vibrant tapestry of Karachi, DHA City stands as a testament to urban planning excellence. With its meticulous attention to detail and commitment to providing a superior quality of life, this smart and sustainable community has emerged as a sought-after destination for those seeking […]
Pakistan’s economy is at a critical juncture, facing multiple challenges that necessitate a structural reset to ensure long-term sustainability. The country’s rising inflation, depleting foreign reserves, and escalating debt levels have prompted economists to call for urgent reforms. A comprehensive reset requires a focus on boosting local industries, reducing import dependence, and enhancing exports. Additionally, […]
Pakistan is grappling with a growing debt crisis, where every citizen now carries a staggering debt load of Rs 295,000. This increase reflects the country’s escalating economic challenges, fueled by frequent borrowing, high-interest payments, and budget deficits. The national debt has ballooned, causing widespread concern about the country’s financial future. Factors contributing to this debt […]
