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Prime Minister Imran Khan has revealed that authorities have found 128 more bank accounts through which billion of rupees were laundered outside the country. “The opposition is raising a hue and cry over ‘threats to democracy’ as it is afraid of going to jails. Even enemies do not treat you the way previous governments treated […]

JHANG: The Federal Investigation Agency, Karachi, has issued notice to a student of Jhang district belonging to a lower middle class family with regard to an inquiry into a suspicious bank account transaction worth Rs173 million. An FIA team had detected Rs173m worth of transaction through a bank account [in Karachi] under the title of […]

BALI: Muhammad Aurangzeb was invited as the only CEO representative of the Pakistani banking sector in order to share his views in his capacity as the President and CEO of HBL. It is pertinent to mention that Muhammad Aurangzeb is the only CEO from Pakistan as well as the only Pakistani who has accepted an invite […]

KARACHI: The stock market bounced back on Wednesday from its continued dismal performance as renewed buying interest lent support to the index, which surged nearly 1,000 points. The KSE-100 index shot up from the moment trading began, gaining over 2% to power past the 37,600-point mark. Investors picked up stocks at attractive valuations as the index […]

KARACHI: The rupee weakened against the dollar at Rs133.7/133.9 in the inter-bank market on Wednesday compared with Tuesday’s close of Rs133.59/133.78, according to the State Bank of Pakistan. A slump in the value of the rupee came last week after the government decided to knock at the International Monetary Fund’s (IMF) door to avoid default on […]

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 […]

KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) have dropped below $14 billion for the first time in two years, the central bank reported on Thursday. Reserves of the SBP fell $276 million to $13.86bn in the week that ended on Sept 29. The central bank said the outflow of $276m was […]

KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchange rate gained stability on Wednesday. The rupee has seen 4.7 per cent devaluation in the last four working days. The dollar was traded as high as Rs111 in the interbank market. But it remained mostly around Rs110.25-50, said currency dealers. However, the SBP reported […]

KARACHI: Pakistan Business Council (PBC) has launched 100-day economic agenda for the upcoming government. PBC Chief Executive Ehsan Malik said relying on short-term loans is not sustainable and an IMF programme is inevitable. The opposition and the government must take this opportunity to work together to revive domestic manufacturing. He said short-term solutions aim only […]

ISLAMABAD: The Sup­reme Court on Sunday ordered placing of names on the Exit Control List (ECL) of presidents and chief executive officers of three banks allegedly involved in Rs35 billion suspicious transactions used in money laundering. A three-judge bench, headed by Chief Justice Mian Saqib Nisar, also summoned the CEOs and presidents of the Summit […]