Business
Business
The largest fortune fall in modern history
Elon Musk has endured the greatest loss of wealth in modern history, losing more than $208 billion in the last…
SBP hikes export financing markups to 13%
The State Bank of Pakistan (SBP) boosted export finance markup rates by 200 basis points. The Circular was issued late Thursday to reduce the spread between the policy rate, Export Finance Scheme (EFS), and…
SBP forex reserves hit near 8-year low at $5.821bn
Due to debt servicing, the State Bank of Pakistan's foreign reserves declined from $294 million to $5.821 billion. This leaves…
Nishat Chunian closes operations partially
Nishat Chunian Limited (NCL), one of Pakistan's leading textile enterprises, has partially shut down operations next month owing to market…
Tariffs on baby formula imports will return in 2023
The Wall Street Journal reported on Wednesday that the imported baby formula would again be subject to tariffs again in…
SBP rollbacks import restrictions from January 2023
State Bank of Pakistan (SBP) announced removing import restrictions on January 2, 2023. "Attention of the authorized dealers (ADs) is…
Government sets prize bond cashing deadline
The government has set the deadline for redeeming National Prize Bonds (NPBs). The federal government has extended the deadline for…
Smuggling US dollars to Afghanistan harms Pakistan’s economy
Political unrest and dollar smuggling to Afghanistan are pressuring the Pakistani rupee. Pakistan faces multiple problems, the political crisis being…
SBP extends Banking hours on December 31
The National Bank of Pakistan (NBP) and State Bank of Pakistan (SBP) branches would remain open longer to collect government…