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...
Alipay set to commence services in Pakistan by end-2018
Back in March, Alibaba’s Ant Financial said it would invest $184.5million for a 45 percent stake in Telenor Microfinance Bank (TMB), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services
Digital banking, e-commerce witness unprecedented growth: SBP report
LAHORE: Although Pakistan’s banking system is known to be riddled with draconian procedures which force customers to sign a multitude of forms,...
Experts urge banks to collaborate with fintechs to provide better digital services
KARACHI: Speakers at an e-banking conference have ruled out the impression that financial technology firms would eat up conventional banks and asked...
Agri credit disbursement increased to Rs972.6b
KARACHI: Banks have disbursed Rs972.6 billion for the fiscal year 2017-18. The current year’s disbursement is 38.1 per cent higher than the...
Seminar held on ‘Digital Diruption’ at KSBL
A guest speaker session was held on Saturday, July 28 in the Digital Entrepreneurship class conducted by Dr Shoaib Ul Haq ar...
Digital payments could bring $1.5 billion windfall to Karachi, says Visa study
KARACHI: Businesses, individuals, and government can stitch up savings of around $1.5 billion from the megapolis of Karachi alone if consumers adapt...
Race tightens for second place after Apple’s $1 trillion valuation
Amazon is now the second-largest publicly-listed U.S. company, with a market capitalization of $889 billion, followed closely by Alphabet and Microsoft, at $856 billion and $830 billion respectively
Apple CEO calls $1 trillion value a ‘milestone’ but not a focus
With a closing price of $207.39 on Thursday, Apple became the first publicly listed U.S. company to ever reach $1 trillion in market capitalization.
Apple hits $1 trillion stock market valuation
SAN FRANCISCO: Apple became the first $1 trillion publicly listed US company Thursday, crowning a decade-long rise fueled by the ubiquitous iPhone...
Whatsapp to start charging business users
Facebook Inc’s WhatsApp messenger service will start charging businesses for sending marketing and customer service messages, it said on Wednesday, as the...
Pakistan’s first digital nano loan launched by Telenor Microfinance Bank
KARACHI: In continuation of its efforts to increase financial inclusion, as part of the Government of Pakistan’s National Financial Inclusion Strategy of...
Instagram not an instant fix for ailing Facebook
The social media company suffered the biggest one-day wipeout in U.S. stock market history, losing more than $120 billion in market capitalization as shares fell 19 percent a day after executives forecast years of lower profit margins due to regulatory pressure over privacy.
Zuckerberg fortune takes a $16 billion plunge in record Facebook fall
Shares fell as much as 19.6 percent to $174.78, a decline that if sustained would wipe about $124 billion off the company’s value - or nearly four times the entire market capitalization of Twitter Inc
Apple supplier LG Display slashes investment plans as losses mount
LG said it would trim investment by 3 trillion won ($2.7 billion) from what was planned by 2020, without revealing its total or previous capex targets