Noor Financial sells 2.49 percent stake in Meezan Bank to foreign investors

Earlier this month Noor Financial Investment Company (Noor) had sought State Bank of Pakistan’s (SBP) approval for divestment of 9.59 percent of its 49.1 percent stake in Meezan Bank Limited

IMF holds unofficial moot to discuss Pakistan’s economic challenges

IMF had expressed concerns about mounting debt burden, especially from the Chinese side.

Pakistan doubles size of currency swap agreement with China: SBP

Pakistan obtained $1.5 billion from China during the first ten months of the current financial year 2018-19.

IMF to incorporate Islamic finance to market surveillance in 2019

Islamic finance, which bans interest payments and pure monetary speculation, is estimated to have over $2 trillion of assets globally and is offered in over 60 countries, according to the IMF

Asian shares shaky but North Korea’s stance soothes nerves

MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while South Korea’s Kospi pared much of its earlier loss of 0.9 percent. Japan’s Nikkei was up 0.1 percent

Breaking the legacy mindset of large commercial banks

While up-and-coming players tap into new segments like mobile wallets, big players seem content with their decades-old business model that revolves around taking deposits and investing in risk-free securities.

Is Dewan Yousuf serious or will he hoodwink everyone yet again?

The Group faces a serious credibility crisis as it turns down offers for its cement plants for the umpteenth time – even the lucrative Mega offer – raising doubts about its intent to sell and settle the default.

The Black Sheep of the White Hat community

During our investigation into the recent security breach at Careem, some industry sources highlighted a faction of the white hat community that exploits startups that are vulnerable to cyber attacks, prompting Profit to look into how ethical these ‘ethical hackers’ really are.

What makes Syed Babar Ali tick

The Life Story of a Man of Substance

How Akhuwat impacts lives through the miracle of interest-free microfinance

$500 million worth of loans disbursed to 2.2 million families over a period of 16 years

Why content is king for Propergaanda

When one thinks about hard hitting topics such as social issues and politics, one does not imagine a huge Gaanda aka a hippopotamus wearing a white shalwar kameez and a black waistcoat smoking a...

A bank sold for just Rs1,000. Does it make any sense?

Profit demystifies the controversy over the sale of KASB Bank

How paramilitary helped Advans Bank double its size in one year

As peace returns to Karachi, losses spread over half a dozen years are now consigned to the past

What makes Pakistan plump for IMF time and time again?

Pakistan has been approaching International Monitoring Fund (IMF), intermittently, since 1988. The last programme was successfully completed during the period 2013-16. However, within a...

The year in energy

Corrupting power

Editor’s Note: Immovable, like set cement

A cat might have nine lives but Dewan Group’s Dewan Yousuf seems to have thirteen. And counting. The banks, to whom he owes quite a...

Editor’s Note: The state of the State Bank

If the KASB Bank’s own valuation was correct, then it actually was sold for a song by SBP. If the auditors’ valuation was correct, then was SBP sleeping on the job when it let things get so bad at KASB?
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Funds of GHPL being used by PLL, PLTL, sources

ISLAMABAD: Billion rupees worth of funds of the Government Holding Private Limited (GHPL) are allegedly being used by Pakistan LNG Ltd (PLL) and Pakistan LNG...

Is Dewan Yousuf serious or will he hoodwink everyone yet again?

The Group faces a serious credibility crisis as it turns down offers for its cement plants for the umpteenth time – even the lucrative Mega offer – raising doubts about its intent to sell and settle the default.

Data Security – issue of morality, business ethics, or inept governance?

In the murky world of numbers and big data, Pakistan, must not lag behind.

Pakistan’s largest refinery project contract awarded to TechnipFMC

The project will be managed and operated by a wholly-owned subsidiary, PARCO Coastal Refinery Limited (PCRL).

ICCI voice concerns over rising losses of PSEs

PSEs have reportedly suffered cumulative losses of Rs3.746 trillion over the last five years

China helping Pakistan avert foreign currency crisis: Tariq Bajwa

Pakistan obtained $1.5 billion from China during the first ten months of the current financial year 2018-19

MoC urged to consult relevant stakeholders before negotiating FTAs

ISLAMABAD: Members of Senate Standing Committee on Commerce Wednesday showed their concerns that the Ministry of Commerce has not consulted relevant stakeholders before negotiating free trade...

Incumbent regime allegedly all out to ensure sale of K-Electric

The incumbent government is allegedly all out to ensure the sale of Abraaj Group’s shares in K-Electric to Shanghai Electric Power.