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ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has passed regulations concerning capital market, insurance and corporate governance in its meeting. In this regard, the commission approved the proposed amendments to the Motor Vehicles Act, 1939, for public consultation and to be disseminated by posting them on the SECP’s website as well as […]

ISLAMABAD – The Islamic Banking Industry (IBI) has grown considerably as its assets witnessed growth of 12.4 percent by the end of Calendar Year 2017 since it re-launch back in 2001-02. The industry’s asset base has reached to Rs 2.3 trillion, a growth of 22.6 percent (12.4 percent of the overall banking system assets) while its […]

Lahore – The KSE-100 index resumed its upward trajectory with the week closing 0.8 percent WoW higher at 42,842 level. Experts believe where investor confidence is gradually returning post clarity over the political front, wait and watch strategy is broadly visible as volumes plunged during the outgoing week. Average daily volumes declined by 27 percent WoW […]

ISLAMABAD – Pakistan Tehreek-e-Insaf (PTI), the government in-waiting, is seriously contemplating various alternative plans to avoid International Monetary Fund (IMF) programme which according to PTI would hit its economic plan especially generating employment opportunities. PTI chairman Imran Khan, who is all set to become next Prime Minister on August 18, has reportedly asked Asad Umar […]

ISLAMABAD: The tax contribution by Pakistan’s booming realty sector, where most of the untaxed money is parked, stood at only Rs23 billion or less than 0.1% of the size of national economy in the previous fiscal year. To tackle such challenges posed by a weak tax administration and a culture of tax evasion, the Pakistan Tehreek-e-Insaf […]

IN the local currency market last week, State Bank measures to check dollar outflows stabilised the rupee. Last week on the interbank market, the rupee/dollar parity moved both ways in a tight range. The rupee lost 20 paisa on the buying counter and 18 paisa on the selling counter on Monday due to higher dollar […]

ACCORDING to the weekly statement of position of all scheduled banks for the week ended July 27, 2018, deposits and other accounts of all scheduled banks stood at Rs12,551.434 billion after a 0.12 per cent decrease over the preceding week’s figure of Rs12,566.667bn. Compared with last year’s corresponding figure of Rs11,701.701bn, the current week’s figure […]

KARACHI: State Bank of Pakistan (SBP) Governor Tariq Bajwa on Tuesday expressed firm commitment to increase number of account holders to 50 per cent of the total adult population by 2020. Addressing a ceremony held at SBP headquarters to mark the 71st Independence Day, Bajwa said financial inclusion is important for monetary stability and economic […]

KARACHI: United Bank Limited’s (UBL) consolidated profit dropped 41% to Rs3.3 billion in the quarter ended June 30, 2018 due to unexpectedly high pension payments to ex-employees, according to a notification posted on the Pakistan Stock Exchange (PSX) website on Thursday. The bank had registered a profit of Rs5.71 billion in the same quarter last year. […]

KARACHI: A day after losing 480 points, the KSE-100 index gained 175 points in range-bound trading on Friday, driven by exploration and production and financial stocks. A surge in the State Bank of Pakistan’s foreign currency reserves and the rupee’s stability played the role of a catalyst in the bourse’s strength. Fertiliser stocks rose following a […]