SBP issues fresh notes ahead of Eidul Azha across Pakistan

KARACHI: To meet the demand for currency on the occasion of Eid-ul-Azha, the State Bank of Pakistan (SBP) through its 16 field offices of...

Market Daily: PM gets cold welcome from PSX as stocks end flat

LAHORE: The Pakistan Stock Exchange (PSX) did not give a very warm welcome to the new Prime Minister. As economic worries loom, investors seem...

Country’s current A/C deficit widens to $2.2bn in July

KARACHI: The current account deficit (CAD) of the country further widened by 12.18 per cent to $2.2 billion in the first month of the...

SBP stipulation creates oversupply of dollars and other currencies

The central bank seems happy with the present scenario, as the kerb market US dollar rate hovers below the inter-bank market rate and there is no adjustment as per market rate

Digital banking moving nation towards paperless economy

ISLAMABAD: The emerging trends of digital transactions offered by various banks vitally contribute towards a more efficient - paperless economy. Cashless transactions are becoming the...

Bank of Punjab poses 61pc robust rise in half-yearly profits

LAHORE: A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on 17 August 2018 to consider and approve un-audited...

Why Chinese banks are turning wary of Pakistan loans

Chinese banks have increased their commitment to Pakistani sovereign loans in recent years and policy lenders China Development Bank and the Export-Import Bank of China (Chexim) are playing a leading role in financing CPEC's construction of ports, power stations and transport links.

Sindh, Summit bank’s chiefs hope for complete merger before September

On the intervention of the Supreme Court of Pakistan, the share ratio for the merger has been fixed at 8.37 Summit Bank shares for one share of Sindh Bank

Summit Bank to be merged with Sindh Bank by August 31

KARACHI: The board meeting of the Summit Bank has finally decided to merge with the Sindh Bank after a final meeting with the shareholders...

India’s Cosmos Bank loses $13.5mn in cyber attack

MUMBAI: Cybercriminals hacked the systems of India’s Cosmos Bank and syphoned off nearly Rs944 million ($13.5 million) through simultaneous withdrawals across 28 countries over...

SBP reiterates commitment as custodian of Pakistan’s financial system: SBP Governor

KARACHI: The State Bank of Pakistan (SBP) celebrated the Independence Day anniversary of Pakistan on August 14 at the SBP headquarters in Karachi. SBP Governor  Tariq...

PHMA fears import restriction to hinder export orders

LAHORE: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) Monday feared that the latest move of import restriction by the State Bank of Pakistan (SBP)...

Silkbank declares Rs1.729bn operating profit for half year ended June 30

LAHORE: The Board of Directors of Silkbank Limited in their meeting held on August 13, 2018, declared an Operating Profit of Rs1.729 billion, with Profit...

Noor Financial divests another 0.85pc share in Meezan Bank

LAHORE: In a notification issued to the Pakistan Stock Exchange here on Monday, Meezan Bank disclosed that Noor Financial Investment Company had sold/divested ordinary shares...

Uphill task for incoming govt as trade deficit worsens

KARACHI: It is a great challenge for the incoming government of Pakistan Tehreek-e-Insaaf (PTI) and its expected Finance Minister Asad Umer to overcome the...

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