Islamabad, Nov 27: Mobile internet services resumed in Islamabad and Rawalpindi on Wednesday morning following a three-day suspension. Authorities had imposed the outage to manage peaceful protests, leaving residents dependent on Wi-Fi and traditional calls. The protest concluded late Tuesday after a law enforcement operation at Jinnah Avenue. The Pakistan Telecommunication Authority (PTA) confirmed that mobile internet was suspended on Interior Ministry orders for security reasons. Social media platforms like Facebook, Instagram, and WhatsApp were restricted through a firewall, causing difficulties for users sharing media. While mobile internet is restored, PTA sources indicate social media access will return after a…
Author: Mawadat Fatima
Islamabad, Nov 27: The repatriation of profits and dividends by foreign investors in Pakistan reached $807 million during July-October FY25, reflecting a 66% increase from $485.5 million in the same period last year, as per the State Bank of Pakistan. In October alone, repatriations surged to $413.8 million, marking a 3.5x rise from the previous month and a 52% year-on-year increase compared to $272.5 million in October 2023. The Food sector led with $144.9 million in outflows, up 154% year-on-year, followed by the Power sector at $76.7 million and the Oil & Gas Exploration sector at $66 million, showcasing robust…
Islamabad, Nov 27: Global fintech platform OPay has acquired Finja, a pioneering Pakistani fintech operator that began its journey in 2021. Finja, known for its innovative approach, held dual licenses from the State Bank of Pakistan for digital wallets and SME lending and attracted significant investor attention. In 2022, Finja secured $10 million in a Series A2 funding round, supported by notable investors, including Sturgeon Capital and HBL. Before obtaining its EMI license, it partnered with FINCA Microfinance Bank to launch SimSim, a mobile payment platform facilitating seamless money transactions. This acquisition marks a key milestone for OPay, reinforcing its…
Islamabad, Nov 26: The Hamriyah Free Zone Authority (HFZA) in Sharjah is actively promoting its advanced services and infrastructure at the 45th Big 5 Global 2024 event, held at the Dubai World Trade Centre. The event gathers experts in urban development and construction, providing HFZA with a platform to highlight its innovative offerings for investors. HFZA Director, H.E. Saud Salim Al Mazrouei, emphasized its focus on sustainability and innovation, showcasing opportunities such as establishing eco-friendly building materials factories and regional distribution hubs. HFZA’s infrastructure supports diverse business needs, offering seamless logistics, administrative services, and licensing under one roof. Competitive Edge…
Islamabad, Nov 26: Matco Foods Limited (PSX: MFL) has announced plans to explore strategic options to raise growth capital for its Corn Starch Division. The decision was approved during a Board of Directors meeting held on November 25, aiming to bolster ongoing operations, strategic investments, and expansion plans. In a stock filing, Matco disclosed engaging Bank Alfalah Limited as its financial advisor to guide the process. The company assured shareholders of timely updates as the initiative progresses. Matco Foods is primarily involved in processing and exporting rice, rice glucose, rice protein, pink salt, masala, and kheer, highlighting its diversified product…
Islamabad, Nov 26: As heavy rains hit Mecca on Monday, the Grand Mosque issued safety guidelines to protect pilgrims navigating the holy site. The General Authority for the Affairs of the Two Holy Mosques shared crucial instructions, urging visitors to seek shelter in safe areas, use handheld umbrellas, and stay updated with weather alerts. Pilgrims were advised to follow official instructions, avoid using mobile phones during lightning, and report any hazards or emergencies by calling 1966. The heavy rainfall, accompanied by strong winds, was part of a broader weather system affecting several regions in Saudi Arabia. The National Centre of…
Islamabad, Nov 26: The first convocation of the School of Allied Health Sciences at CMH Lahore Medical College took place recently, with 169 graduates receiving their degrees. Among the graduates, 83 earned their degrees as Doctor of Physical Therapy, and 86 as Doctors of Medical Imaging. Lieutenant General Syed Amir Raza, Commander Lahore Corps, was the chief guest for the ceremony. Professor Dr. Muhammad Arshad, Rector of the University of Lahore, had the honor of presenting the degrees to the graduates. The event also celebrated academic excellence, with several top-performing graduates receiving certificates and medals for their outstanding achievements. Founded…
Islamabad, Nov 26: A recent survey by PwC Pakistan reveals that 90% of bankers believe cybercrime is the biggest challenge currently facing the banking sector. Fraud follows as the second most significant risk, with 70% of respondents citing it, while 60% consider terrorism financing as a lesser concern. The survey, which gathered input from over 75 Chief Compliance Officers (CCOs) and business heads, highlighted the high-risk perception of various financial crimes. Cybercrime, fraud, and terrorism financing are viewed as having a “very high” risk by the majority of respondents, followed by tax evasion (56%) and money laundering (55%). Despite the…
Islamabad, Nov 22: As part of the Government of Punjab’s comprehensive efforts to combat the effects of smog and mitigate its harmful impact, the Bank of Punjab (BOP) has taken a proactive step to protect the health of its employees and customers. In a landmark initiative, BOP has announced the installation of air purifiers across its branches in 18 districts in Punjab which have been severely affected by smog, ensuring a safer and healthier environment for all who visit or work in its premises. As a responsible corporate citizen, BOP is the first in the banking industry to implement such…
Islamabad, Nov 26: The Pakistan Swimming Federation (PSF) has concluded its Elective General Council meeting, which took place on Sunday at a local hotel, where it finalized its leadership for the upcoming four-year term (2025-2028). Here are the newly elected officials: Chairman: Major (Retd) Majid Waseem President: Zoraiz Lashari Senior Vice President: Yasmin Arshad Vice President: Brigadier Mujtaba Haider Vice President: Commodore Mazhar Bashir SI(M) Vice President: Farooq Ahmed Vice President: Brigadier (Retd) Rizwan Rafi Secretary General: Lt Col (Retd) Ahmed Ali Khan Treasurer: Muhammad Atif Shafiq Associate Secretary: Lt Col (Retd) Saeed Ahmed Khan Associate Secretary: Daniyal Lashari Associate…
