Islamabad, Aug 27: According to a social media post on Monday, Pakistan’s diplomatic mission in Saudi Arabia has announced intentions to open a co-working facility for Pakistani businesses looking to get into the lucrative market in the country. In an effort to take advantage of the expanding markets in the area as these nations attempt to diversify their economies, Pakistani officials have been aggressively courting investment from Saudi Arabia and other Gulf nations. There has been a surge in the number of Pakistani startups operating in industries like healthcare, banking, education, and logistics. Many of these companies have secured significant…
Author: Iqra Khan
Islamabad, Aug 27: Women entrepreneurs taking part in the Academy for Women Entrepreneurs (AWE) program have received $20,000 in initial cash from the US Embassy. The last event for the 2024 AWE participant cohort was a pitch competition, from which the winners were chosen. The grants are meant to aid in the expansion and improvement of their companies. The details state that Iman Khan from Peshawar, who was representing Gricks International, was honored for her creative approach to meeting housing needs and environmental concerns. She produced building materials from recycled plastic, repurposed plastic bottles into bricks for rebuilding homes in…
Islamabad, Aug 27: As it continues on its current growth trajectory, BankIslami has increased its profit before taxes by an impressive 66.2 percent for the half-year that concluded in 2024, providing significant returns to its shareholders. The Bank’s profit after taxes increased to Rs. 7.1 billion from Rs. 13.8 billion before taxes, a strong 32.1 percent growth. In spite of difficult market conditions, BankIslami is unwavering in its dedication to excellence in finance. The notable increase in non-fund-based income (NFI), which increased by almost a billion rupees in comparison to the same period previous year, was one of the period’s…
Islamabad, Aug 27: In interbank trade on Tuesday, the value of the Pakistani rupee gained nine pesas versus the US dollar, finishing at Rs 278.32 as opposed to Rs 278.41 the day before. On the other hand, the Forex Association of Pakistan (FAP) reports that the open market dollar buying and selling rates were Rs 278.50 and Rs 280, respectively. The State Bank of Pakistan (SBP) reports that the price of Euro dropped by 37 paisa to close at Rs 310.87, down from Rs 311.24 the previous day. The British Pound’s exchange rate increased by 24 paisa while the Japanese…
Islamabad, Aug 27: A recent thought leadership event, “Seeds to Smiles,” provided a platform to highlight PepsiCo Pakistan’s multifaceted approach to agricultural development. Notable attendees included Mohammad Khosa, the CEO of PepsiCo Pakistan, and Eugene Willemsen, the CEO of PepsiCo Africa, Middle East & South Asia (AMESA) and International Beverages. Industry experts, partner organizations, and farmers completed the distinguished list of attendees. PepsiCo Pakistan is actively involved in promoting positive change within Pakistan’s agricultural landscape. Its efforts go beyond ushering in sustainable farming practices to include supporting women farmers, the development of inclusive communities, and the promotion of economic growth.…
Islamabad, Aug 27: The government’s commitment to creating an investment climate in Pakistan that is favorable and conducive for foreign investors has been reaffirmed by Finance Minister Muhammad Aurangzeb.He was speaking with Antti Partanen, a FinnFund representative, who had paid him a visit in Islamabad. Examining possible investment prospects in Pakistan was the main goal of the meeting. In order to strengthen Pakistan’s export foundation, the Finance Minister emphasized the government’s goal of making the nation an export-led economy and luring foreign direct investment. An overview of FinnFund’s profile and investment projects in Pakistan was given by Antti Partanen, who…
Islamabad, Aug 27: The Defence Housing Authority (DHA) Islamabad-Rawalpindi announced the opening of DHA Down Town on GT Road, Rawalpindi, offering ideal investment prospects with its premier commercial plots. Details reveal that this dynamic development, which is situated along the important GT Road, offers a variety of plot sizes, including 8.67 Marla, 10.67 Marla, and roomy 4 to 7 kanal possibilities, suitable for a range of business purposes. These lots are perfect for mixed-use projects, retail stores, and offices. For additional information, please contact +92 321 5544681.
Islamabad, Aug 27: Local Government Minister Saeed Ghani has encouraged the Malir Development Authority (MDA) to expedite the completion of its public benefit housing projects. According to specifics, Ghani emphasized the necessity of resolving present issues impeding the advancement of three significant MDA projects. In order to assist in quickly resolving these challenges, he directed MDA officials to furnish comprehensive reports on the roadblocks causing delays and submit them for the Sindh government’s consideration. The Minister emphasized how critical it is to complete these housing projects swiftly in order to provide the community with reasonably priced housing options. The Sindh…
Islamabad, Aug 27: The following exchange rates bulletin was released here on Tuesday by the Financial Markets Association of Pakistan’s Exchange Rates Committee.Conversion rates for foreign currency for forward cover of deposits for August 27, 2024 (excluding FE-25 deposits) Date of Settlement of SBP Value: August 29, 2024 USD 278.3345 GBP 367.2345 311.1223 EUR JPY 1.9337
Islamabad, Aug 27: On the invitation of the All Pakistan Traders Association, the trading associations of Rawalpindi have decided to band together for a total shutdown of the city and its cantonment areas on Wednesday (tomorrow). On August 28, the president of the Rawalpindi Restaurants, Caterers, Sweets, and Bakers Association, Muhammad Farooq Chaudhry, declared his support for the nationwide trade strike. He emphasized the need for corporate executives to be involved in the development of any future tax legislation and urged the government to review the current tax code. Noting that their association had already slashed expenditures, he questioned whether…
