Islamabad, Nov 18: Foreign Direct Investment in Pakistan Down by 18% in October 2024, Reflecting Economic Slowdown Foreign Direct Investment (FDI) in the country amounted to $133 million in October 2024, reflecting an 18 percent decrease compared to $163 million in the same month last year. In October 2024, foreign direct investment inflows reached $240.4 million, a 19 percent increase from $202.6 million in October 2023. However, outflows for the same month surged by 173 percent, reaching $107.2 million compared to $39.2 million in October 2023. During the first four months of fiscal year 2025 (4MFY25), net FDI inflows rose…
Author: Mawadat Fatima
Islamabad, Nov 18: Pakistan’s Exchange Rate Jumps in October 2024 Pakistan’s Real Effective Exchange Rate (REER) increased to 100.8 in October 2024, as per data released by the State Bank of Pakistan (SBP) on Monday. This represents a slight rise from the REER of 98.64 recorded in September 2024. A REER above 100 signifies a decrease in trade competitiveness, meaning that exports become more expensive while imports become cheaper. Conversely, a REER below 100 indicates that the country’s exports are more competitive on the international market.
Islamabad, Nov 18: Pakistan’s Current Account Surplus Hits $349 Million in October 2024 Pakistan’s current account recorded a surplus of $349 million in October 2024, marking its third consecutive monthly surplus. This contrasts with a deficit of $287 million in October 2023, according to data released by the State Bank of Pakistan (SBP) on Monday. The current account surplus in the first four months of the fiscal year (4MFY25) stands at $218 million, a significant turnaround from the $1.528 billion deficit during the same period last year. The surplus is largely driven by a 7% month-on-month (MoM) growth in remittances…
Islamabad, Nov 18: The Accountant General Pakistan Revenues (AGPR) and the Federal Board of Revenue (FBR) have made a significant decision to update the SAP (Systems, Applications, and Products in Data Processing) system to improve tax adjustments for salaried workers and pensioners. This update is designed to address issues with excessive tax deductions and eliminate the lengthy refund process. The Federal Tax Ombudsman (FTO) previously recommended modifying the SAP system to facilitate smoother tax adjustments and credits for salaried individuals. The AGPR has expressed its general agreement with this proposal and will discuss the details in an upcoming internal meeting. The…
Islamabad, Nov 18: Pakistan’s leading professional boxer, Usman Wazeer, has announced his next fight, revealing that he will face Mexico’s Ramiro Garcia Lopez at the Park Community Arena in Sheffield on December 7th. This will be his 15th professional match. Since turning professional in 2019, Usman has remained unbeaten with a record of 14-0, including 10 wins by stoppage. In his most recent bout on September 26th, he defeated India’s Tilak Selvam in the first round. Ramiro “EL DURO” Garcia Lopez, his upcoming opponent, has a record of 8 wins and 14 losses, with his latest victory coming against British Afghan…
Islamabad, Nov 18: A cargo ship has completed the first direct journey from Pakistan to Bangladesh in decades, successfully delivering its containers and marking a pivotal moment in renewing ties between the two nations. The Panama-registered vessel Yuan Xiang Fa Zhan traveled from Karachi to Chittagong, where it offloaded its shipment on November 11, as confirmed by Chittagong port official Omar Faruq. This breakthrough comes after a long history of strained relations following the countries’ separation in 1971 after a devastating war. This direct shipping link has resulted from recent efforts to rebuild trade connections and is expected to streamline…
Islamabad, Nov 18: The final T20I between Pakistan and Australia is set to unfold at the Bellerive Oval in Hobart, with favorable weather ensuring an uninterrupted match. Scheduled to begin at 1:00 PM PST (7 PM AEST), fans and players alike can look forward to a rain-free contest following earlier disruptions in Brisbane. The forecast predicts cold conditions with temperatures around 8°C, light westerly winds at 13 km/h, and low clouds blanketing the skies. However, the minimal chance of rain is a relief for both teams, especially Pakistan, who are eager to end the series on a high note after…
Islamabad, Nov 18: The air quality index (AQI) shows an improvement in smog levels across various towns in Punjab, attributed to artificial rain and a shift in easterly winds, according to government officials. As of 11 PM on Sunday, Lahore’s AQI stood at 297, while Multan recorded 230. The Meteorological Department credited a north-westerly wind pattern for reducing smog, while Punjab Environment Minister Marriyum Aurangzeb highlighted the positive impact of artificial rain experiments conducted in the Chakwal and Jhelum areas. In her statement, the minister emphasized that the Detox Punjab campaign contributed to better air quality in Rawalpindi and nearby…
Islamabad, Nov 18: Amid rumors of Ayatollah Ali Khamenei being in a coma, the Iranian Supreme Leader shared a photo on Sunday showing him meeting an Iranian diplomat. Recent media claims suggested that Khamenei, aged 85, had fallen into a coma and allegedly designated his 55-year-old son, Mojtaba Khamenei, as his successor during a confidential meeting. These reports followed an October article by The New York Times stating that Khamenei was in critical health. The image posted on Khamenei’s official X account depicted him conversing with Mojtaba Amani, Iran’s Ambassador to Lebanon, in his office. The Persian caption noted that Ayatollah…
Islamabad, Nov 16: WhatsApp Will Remind You of Messages You Didn’t Send in New Feature Update WhatsApp has rolled out a much-anticipated feature message draft. This update introduces a bold green “Draft” label, displaying a preview of unfinished messages within chats. The reminder helps users quickly locate and complete messages that were started but not sent, ensuring no important responses are overlooked. The drafts now appear at the top of the chat list, providing easy access without the need to scroll through conversations. This new functionality aims to improve user experience by making it simpler to pick up where messages…
