FBR extends super-tax on banks for FY 2017-18

ISLAMABAD: Federal Board of Revenue (FBR) has extended the enforcement of super-tax on banking companies for financial year 2017-18. And FBR issued SRO 1173 (I)/2017...

Pakistan’s public debt skyrockets, touching Rs21.770 trillion by end of August

KARACHI: Figures released by State Bank of Pakistan revealed the country’s public debt touched Rs21.770 trillion by end of August, compared to Rs19.572t in...

Parliamentary panel issues warning to foreign banks for non-cooperation

ISLAMABAD: Foreign banks have faced the ire of a parliamentary panel on finance for subverting its calls on an ongoing probe into a two-year...

SBP to acquire shares of ZTBL/HBFC in exchange for debt settlement

ISLAMABAD: State Bank of Pakistan (SBP) has been given go-ahead by the government to purchase shares of Zarai Taraqiati Bank Limited (ZTBL) and House...

Financial inclusivity: Where does Pakistan stand?

Pakistan is a lower middle-income economy, located in the heart of South Asia, with a GDP estimated at $284 Billion (2016), and a population...

Government to raise Rs4.375t from auction of t-bills, long-term papers

KARACHI: State Bank of Pakistan (SBP) on Friday disclosed the government intends to raise Rs4.375 trillion from banks through sale of treasury and long-term...

Microfinance banking industry registered 52.5pc growth during FY 2016-17

ISLAMABAD: State Bank of Pakistan (SBP) revealed that Microfinance Banking Industry witnessed a surge in growth of 52.5pc during last financial year 2016-17. According to...

Non-performing loans stood at 9.3pc during Q2 FY 2017-18

ISLAMABAD: The Non-Performing Loans (NPLs) during the second quarter of the fiscal year 2017 stood at Rs614,816 million against total advances of 6,633,527 million,...

The real reason behind a 1/3rd drop in Sep’ remittances

LAHORE: The recent drop in remittances by almost a third has been attributed to the “HBL saga” as per a research report  published today. It was...

SBP profits rise 4pc for FY 2016-17

ISLAMABAD: State Bank of Pakistan (SBP) on Tuesday released its annual performance review report on Tuesday, reporting a 4pc annual growth in profit for...

Mehreen Ahmed to helm major groups at Bank Alfalah

KARACHI: After Sima Kamil's appointment as Pakistan's first woman President of a big commercial bank earlier this year, today another female was given a...

Mobile Banking, Internet Banking flourishing in Pakistan

ISLAMABAD: A total of 2.3 million Internet Banking users have been registered by end of June 2017, showing a reasonable annual growth in volume...

Central bank may intervene in open market to stave off pressure on PKR

KARACHI: As pressure keeps mounting on the rupee in open market due to immense demand of the greenback, there are chances that State Bank...

Political strain to keep PSX range bound next week

LAHORE: Pakistan Stock Exchange (PSX) is expected to stay range bound next week as political tensions built up since ousted PM Nawaz Sharif has...

China’s central bank to strictly regulate cash lending via internet

BEIJING: China is stepping up its oversight of cash loans offered through the internet amid growing concerns over rapid growth in the lightly regulated...

Popular News

What cars are Hyundai-Nishat going to launch?

LAHORE: The hottest topic in Pakistan’s automobile industry today is the upcoming range of Hyundai hybrid cars being assembled in the country by the...