Nov 26

Bank Al Habib’s Seychelles branch license revoked

KARACHI: Bank Al Habib Limited on Friday said that on its request the Central Bank of Seychelles (CBS) revoked the license of its Seychelles branch operation. In a communication sent to the Pakistan Stock Exchange (PSX), the bank said that to further earlier disclosure made on September 14, 2021, in respect of in-principle approval from […]

by Hamza Shahnawaz

Dollar closes at Rs175.46; hits intraday record high

Nov 26

Dollar closes at Rs175.46; hits intraday record high

KARACHI: The US dollar hit all-time high at Rs176.50 during intraday trading on Friday but later reversed to close at Rs175.46 in the interbank foreign exchange market. The Pak Rupee (PKR) closed at Rs175.46 to the dollar as against the previous day’s closing of Rs174.98 in the interbank foreign exchange market. Currency experts said that […]

by Mrs. Anjum Shahnawaz

Dollar reaches record high of Rs176.50 in intraday

Nov 26

Money & Banking

Dollar reaches record high of Rs176.50 in intraday

The US dollar reached an unprecedented high of Rs176.50 during intraday trading at the interbank foreign exchange market on Friday, signaling a further decline in the value of the Pakistani Rupee (PKR).

by Faisal Shahnawaz

Nov 26

Money & Banking

Today’s currency exchange rates in PKR – Nov 26, 2021

KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 26, 2021 (The rates are updated at 11:30 AM Pakistan Standard Time): Currency Buying Selling Australian Dollar (AUD) 125.10 126.60 Bahrain Dinar (BHD) 386.85 388.60 Canadian Dollar (CAD) 137.60 139.10 China Yuan (CNY) 23.75 23.90 Danish Krone (DNK) 23.50 23.80 Euro (EUR) 196.60 199.10 Hong […]

by Hamza Shahnawaz

Petroleum dealers call off strike on successful talks

Nov 26

Energy, National

Petroleum dealers call off strike on successful talks

ISLAMABAD: The talks between the government and Pakistan Petroleum Dealers Association ended in a success which has led to the strike being called off. “The talks between the government and petroleum dealers association have led to the strike being called off,” Hammad Azhar, Minister of Energy said in a Tweet on Thursday night. Earlier, the […]

by Mrs. Anjum Shahnawaz

Saudi Arabia allows direct entry from Pakistan

Nov 26

World

Saudi Arabia allows direct entry from Pakistan

ISLAMABAD: Saudi Arabia has allowed direct entry from Pakistan with effect from December 01, 2021, according to a report. The nationals of Pakistan are now eligible for direct entry without spending 14-day quarantine in a third country. According to Saudi Press Agency report quoting an official source at the ministry of interior, the directive will […]

by Mrs. Anjum Shahnawaz

FBR should continue revision in property valuation: SBP

Nov 26

Taxation, Top stories

FBR should continue revision in property valuation: SBP

KARACHI: The Federal Board of Revenue (FBR) should ensure continuity in the revision of immovable property valuation in order to remove disparity in property values and market rates. The State Bank of Pakistan (SBP) in its annual report 2020/2021 on State of Pakistan’s Economy released a day earlier said there was a need to expand […]

by Faisal Shahnawaz

Builders, developers stop work on all projects in protest

Nov 25

National, Top stories, Trade & Industry

Builders, developers stop work on all projects in protest

KARACHI: Builders and developers have announced to stop construction work on all their projects from Friday, November 26, 2021 against the declaration of null and void to approved projects. Mohsin Shekhani, Chairman, Association of Builders and Developers Pakistan (ABAD) in a statement said that work at all the approval projects in Karachi will stop functioning. […]

by Faisal Shahnawaz

Pakistan’s forex reserves fall by $776 mn in one week

Nov 25

Finance

Pakistan’s forex reserves fall by $776 mn in one week

KARACHI: Pakistan’s foreign exchange reserves have declined by $776 million during a week owing to external debt repayment, the State Bank of Pakistan (SBP) said on Thursday. The country’s foreign exchange reserves fell to $22.774 billion by the week ended November 19, 2021 as compared with $23.55 billion a week ago. The reserves held by […]

by Faisal Shahnawaz

President Alvi rejects MCB Bank’s appeal in fraud case

Nov 25

Money & Banking

President Alvi rejects MCB Bank’s appeal in fraud case

ISLAMABAD: President of Pakistan, Dr. Arif Alvi has rejected an appeal filed by MCB Bank against a decision by the Banking Mohtasib (Ombudsman) in a case where a banking customer lost huge money due to fraudulent activity. President Dr Arif Alvi has upheld the decision of the Banking Mohtasib directing a private bank to credit […]

by Faisal Shahnawaz