Fintechs: Goliaths of today, dinosaurs of tomorrow?
Innovation is not the done thing in Pakistan’s commercial banking and soon Pakistan’s financial services industry is expected to witness a David-and-Goliath contest of sorts, with Fintechs with negligible capital taking on commercial banks with billions, even trillions, in assets – and beat them
At-Tahur’s road to IPO begins, book-building set to close on 26th June
At-Tahur is issuing 36.7 million shares with 75 percent for book building and remaining 25 percent for retail investors at a floor price of Rs20 per share
Turkish Shylock twists Pak’s arm for $846m pound of flesh
Turkish Karkey demands immediate payment of $846 million arbitration award handed down by the ICSID in August 2017 to Pakistan.
Rupee drops to record low of 125 against dollar
The rupee further depreciated against the US dollar falling down to an all-time low of 125 against the greenback in the open market on Wednesday
Foreign investment takes a dip, down 26.2 per cent
According to data released by the State Bank of Pakistan (SBP) on Wednesday, the country attracted FDI of $237.9 million in May, down 26.2 per cent from $322.7 million in the same month of the preceding year.
Don’t cast your vote before you’ve seen these WhatsApp leaks
Two fictional characters each representing the PTI and PML-N, engage in an enlightening WhatsApp conversation that can help prospective voters make the key decision at the ballot box.
Rupee likely to fall below 125 to dollar after Eid
The rupee’s approximately 4 per cent drop against the dollar last week, from 115.63 on Monday to 121.39 by the close on Thursday, once again rattled the currency market amid renewed fears of inflation and a Balance of Payments (BoP) crisis.
As water crisis deepens, drought reality hits Pakistani population
Per capita water availability has been on a downward trend for decades. In 1947, when Pakistan was created, the figure stood at about 5,000 cubic meters per person, according to the World Bank. Today it is 1,000 cubic meters
Customs set to end cases against Digicom, release smuggled Q-Mobile phones
Digicom Trading Pvt Ltd had cleared the containers of the phones in the cover of LED lights (bulbs) via a green channel on 31Â October 2017. These mobile phones were brought to Pakistan without getting an approval of Pakistan Telecommunication Authority (PTA) and also without getting their IMEI numbers registered
US dollar stands strong at Rs121.50, rupee continues to fall
The dollar continued its upward trend in the interbank market on Thursday closing at Rs121.50, ahead of Eid, touching its intraday high at Rs122.00, meanwhile the State Bank of Pakistan’s (SBP) revaluation rate was Rs121.40.
How Arif Naqvi’s fall from grace put Abraaj on brink of bankruptcy
Abraaj filed a petition in the Cayman Islands, requesting the court to appoint PwC as their provisional liquidator
Pakistan imported 10 million tons LNG in last three years
LNG imports have resulted in savings of $3 billion to the national exchequer
Budget deficit widens to Rs2.1 trillion during July-May FY18
The finance ministry officials quoting estimates said during April and May 2018, the budget deficit widened Rs617 billion or 1.8 percent of GDP
Mobile phone card tax suspension could cause Rs123 billion loss to national exchequer
Before the apex court decision, provinces were collecting around 19.5 percent tax on a prepaid phone card, so their revenue collection losses would touch Rs75 billion annually
Al-Futtaim procures land in Faisalabad to setup auto plant
It is a joint venture between Al-Futtaim Automotive International of Dubai and Renault who in November 2017 signed an exclusive agreement for assembly and distribution of Renault vehicles in Pakistan