Islamabad, Aug 22: Prime Minister Shehbaz Sharif announced on Thursday that Pakistan has launched a project to connect its immediate payment system, Raast, with the Arab Monetary Fund’s (AMF) Buna cross-border payment system. This will enable real-time remittances between Pakistan and the Arab world. In order to create a framework of cooperation between Rasst and Buna, which is run by the Arab Regional Payments Clearing and Settlement Organization (ARPCSO) and backed by all central banks in the Arab region, the AMF and the State Bank of Pakistan (SBP) signed a memorandum of understanding in Abu Dhabi last November. The advancement…
Author: Iqra Khan
Islamabad, Aug 22: Today marked the triumphant conclusion of the three-day 21st Pharma Asia Exhibition, which is the region’s leading pharmaceutical exhibition, held at the Expo Centre in Karachi. E-Commerce Gateway hosted the event, which marked an important milestone in the expansion of Pakistan’s pharmaceutical business. Salman Abdullah Murad, the Deputy Mayor of Karachi, was the chief guest. Pharma Asia 2024 changed the pharmaceutical landscape of the nation by showcasing the newest breakthroughs and technologies from August 20 to 22. The occasion provided a forum for producers, suppliers, traders, distributors, legislators, and investors to get together and discuss prospects for…
Islamabad, Aug 22: President Asif Ali Zardari was briefed by Asian Development Bank (ADB) Country Director Yong Ye on Thursday’s call regarding the bank’s contribution to Pakistan’s socioeconomic development, according to ARY News. President Zardari expressed at the meeting his gratitude to the Asian Development Bank for helping Pakistan during the floods. He also outlined Pakistan’s efforts to combat climate change, pointing out that the country had millions of acres dedicated to the planting of mangrove forests.The assistance that the Asian Development Bank provided to Pakistan in the areas of irrigation, education, and agriculture was also noted by President Zardari.…
Islamabad, Aug 22: A delegation of 44 students from Harvard Business School representing 9 different countries, met Chief of Army Staff General Syed Asim Munir in Rawalpindi today. The interactive session provided a platform to share perspectives on Pakistan’s pivotal role in promoting regional peace and stability, its unwavering efforts against terrorism, and commitment to uphold democratic values. Interacting with the students, the Army Chief emphasized the significance of education, critical thinking, and innovation in addressing contemporary security challenges. He highlighted Pakistan’s vast potential and encouraged the attendees to form their own opinions based on personal experiences. General Syed Asim…
Islamabad, Aug 22: Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), experienced an impressive turnaround as its profit-after-tax (PAT) clocked in at Rs4.06 billion in the financial year ended on June 30, 2024, driven by a considerable rise in revenue. PRL reported a PAT of Rs1.82 billion for the fiscal year 2023. The board of directors convened on August 21 to assess the business’s financial and operational performance, and in a notification sent to the Pakistan Stock Exchange (PSX) on Thursday, it was suggested that the company pay a final cash dividend of Rs2…
Islamabad, Aug 22: Pakistan, Germany expressed commitment to deepen bilateral cooperation in trade and investment. The consensus to this effect was reached during a meeting between Minister for Commerce Jam Kamal Khan and Germany’s Federal Minister for Economic Cooperation and Development, Svenja Schulze in Islamabad.The meeting focused on advancing economic collaboration, with a particular emphasis on sustainable business practices and labor standards. They also discussed potential for increased collaboration between their respective business communities.During the meeting, Jam Kama highlighted Pakistan’s ongoing efforts to improve labour standards in its textile industry. He sought German support for capacity-building and technical assistance to…
Islamabad, Aug 22: World Food Program has expressed the desire to work for rehabilitation of flood affectees in Pakistan. The desire was expressed by Program’s Country Director in Pakistan Coco Ushiyama during meeting with Minister for National Food Security and Research Rana Tanveer Hussain in Islamabad today.The Country Director said the flood affected populations may face food shortage. Speaking on the occasion, Rana Tanveer Hussain extended government’s support to World Food Program in this endeavor. He reiterated the government’s priority to fulfill the food and nutritional needs of the flood affected people.Commending the role of WPF in Pakistan, Rana Tanveer Hussain…
Islamabad, Aug 22: The Indonesian Chargé d’Affaires, Mr. Rahmat Hindiarta, threw an exclusive Pre-CEO Summit Dinner for Pakistani CEOs, commercial Leaders, and their spouses at the Indonesian Embassy in Islamabad with the goal of fostering stronger commercial ties and improving bilateral economic relations. The World CEO Forum and CEO Club Pakistan collaborated on the event. This esteemed occasion comes ahead of the highly anticipated CEO Summit Islamabad, which is slated for September 5, 2024, and Trade Expo Indonesia, which is slated for October 9–12, 2024.Prominent business figures from Pakistan have attended the event, offering a special chance to talk about…
Islamabad, Aug 22: The Pakistan Stock Exchange’s (PSX) 100-Index maintained its bullish trend on Thursday, adding 532.56 points and closing at 78,793.41 points as opposed to 78,260.86 points on the previous working day. This represents a positive move of 0.68 percent. During the day, 804,261,249 shares were traded, up from 552,564,507 shares the day before. The price of the shares was Rs 16.975 billion, compared to Rs 14.590 billion on the previous trading day. Out of the 473 firms that traded shares on the stock market, 261 saw gains and 138 saw losses; the share prices of the remaining 74…
Islamabad, Aug 22: Senator Muhammad Aurangzeb, the federal minister of finance and revenue, declared on Thursday that the nation had attained microeconomic stability and that all economic indicators were trending upward. According to him, the nation is now experiencing a period of economic stability, and the government will be guided toward sustained economic growth by building a solid economic basis. This was said by Senator Muhammad Aurangzeb, the federal minister of finance and revenue, during the Buna-Raast Connectivity Project Implementation Phase Inaugural Ceremony held here. He added that foreign investors are demonstrating confidence in Pakistan’s economy and that all economic…
