News – Page 13 – PASAR NEWS

Pakistan’s exports to China increased by 17% in the first quarter.

Pakistan’s exports to China surpassed 1.039 billion dollars in the first quarter of this year, from January to March, representing an almost 17 percent growth. According to figures released by the General Administration of Customs of China, China’s exports to Pakistan climbed by 28.69 percent in the first three monthsRead More →

Escorts Investment Bank has terminated another another sale-purchase agreement.

Escorts Investment Bank has cancelled another sale-purchase deal with three prospective investors on behalf of its primary sponsor, Bahria Town (Private) Limited.According to the PSX notification, Escorts Investment Bank Limited has received a notice from Bahria Town (Private) Limited for the termination of the share sale and purchase agreement datedRead More →

Pakistan’s foreign exchange reserves have fallen by $115 million.

Pakistan’s liquid foreign reserves fell by $115 million in the week ending April 30, 2022, representing a 0.7 percent drop week on week.According to the SBP weekly report issued on Friday, the country’s total liquid foreign exchange reserves fell by $115 million (-0.7 percent) on April 30, 2022, to $16.553Read More →

Salman Iqbal of ARY plans to invest in Summit Bank.

Salman Iqbal, the owner of the ARY Group, has emerged as an aspirational investor in the loss-making Summit Bank.After rescinding his proposal to invest in the telecom industry, which eventually ended after lengthy discussions between ARY and WorldCall, the broadcaster has chosen to try his luck in the banking sector.Read More →

The trade deficit in Pakistan has reached an all-time high.

During the first 10 months (July-April) of the current fiscal year, 2021-22, the country’s trade imbalance set an all-time high, increasing by 64.79 percent.According to Pakistan Bureau of Statistics figures, the trade imbalance reached $39.264 billion in 2020-21, up from $23.826 billion in the previous year (PBS). According to theRead More →

The PKR has lost 42 paisas versus the USD.

KARACHI, Pakistan – The Pakistani rupee (PKR) lost 41 paisas versus the US dollar in Thursday’s interbank session, breaking its winning run. According to the statistics, the currency finished the deal at PKR 185.87 per USD, up from PKR 185.45 per USD yesterday. Meanwhile, the local stock market was inRead More →

NBP Becomes Pakistan’s Most Profitable Bank, surpassing UBL and HBL.

The National Bank of Pakistan (NBP) Board of Directors met to discuss the bank’s financial performance and approved the condensed interim financial statements for the three months ending March 31, 2022.As the most profitable bank, the National Bank of Pakistan has surpassed United Bank Limited and HBL. As a result,Read More →

Under the NFC Award, the federal government provides an additional Rs. 598 billion to provincial governments.

During the first nine months (July-March) of the current fiscal year (2021-22), the federal government transferred an extra Rs. 598 billion to provincial governments under the National Finance Commission (NFC) Award, compared to the same time the previous fiscal year.According to the Ministry of Finance, the Imran Khan-led government releasedRead More →

A court has ordered the government to abolish the riba-based Haram financial system.

On Thursday, the Federal Shariat Court deemed Pakistan’s Interest Act 1839 un-Islamic, ordering the government to replace the Riba-based financial system with an Islamic one within five years.On April 12, a full bench of the Federal Shariat Court (FSC), led by Chief Justice Muhammad Noor Meskanzai and included Justice Dr.Read More →

HBL is planning to close its branch in Lebanon.

As part of the bank’s goal to consolidate its overseas operations and increase its focus on local and lucrative businesses across the country, Habib Bank Limited (HBL) is closing its branch in Lebanon.The bank has started the process of winding down its Lebanon business in a controlled manner. According toRead More →