The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on Monday, June 23, 2025, providing a crucial snapshot of the prevailing borrowing costs in the interbank market.
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PSX falls sharply as Iran-Israel conflict shakes investor confidence
Karachi, June 23, 2025 – The Pakistan Stock Exchange (PSX) endured a severe blow on Monday, plummeting by 3,856 points as rising geopolitical tensions from the escalating conflict between Iran and Israel sent shockwaves across global financial markets.
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Aurangzeb announces relief measures proposed for FY26 budget
Islamabad, June 23, 2025 – Federal Finance Minister Muhammad Aurangzeb on Monday unveiled a broad array of relief measures incorporated in the federal budget for fiscal year 2025–26, following recommendations by the National Assembly and Senate finance committees.
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Rupee extends losing streak against dollar amid fiscal pressure
Karachi, June 23, 2025 – The Pakistani rupee continued to weaken against the dollar on Monday, marking its 10th consecutive session of losses in the interbank market.
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SBP releases foreign currency rates for June 23, 2025
On June 23, 2025, the State Bank of Pakistan (SBP) announced the official foreign exchange rates for customers. These rates, based on the weighted averages of commercial banks, act as a key reference for cross-border transactions, facilitating international trade and commerce.
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BYD Atto 3 Breaks Million Sales, Dominates EV Market
The BYD Atto 3 electric SUV has officially crossed the one million global sales mark, highlighting its immense popularity across international markets.
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KIA Pakistan Launches EMI Plan for All-New Sorento 3.5L V6
KIA Pakistan has officially launched an exclusive shariah-compliant EMI plan for the all-new Sorento 3.5L V6, making premium SUV ownership more accessible for salaried individuals.
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BYD Confirms No Solid-State Battery for Seal Sedan
Chinese electric vehicle manufacturer BYD has officially denied circulating online rumors suggesting that its much-anticipated solid-state battery technology would be introduced in the BYD Seal electric sedan.
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LTO Karachi assigned jurisdiction over OICCI for tax oversight
Karachi, June 23, 2025 – In a significant administrative development, the Federal Board of Revenue (FBR) has issued an official notification transferring the tax jurisdiction of the Overseas Investors Chamber of Commerce and Industry (OICCI) from the Corporate Tax Office (CTO) Karachi to Zone-I of the Large Taxpayers Office (LTO) Karachi.
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FBR shifts tax burden to protect salaried class in Budget 2025-26
Islamabad, June 23, 2025 — In a bid to provide targeted relief to the salaried class, the Federal Board of Revenue (FBR) has announced the introduction of new taxation measures aimed at compensating for revenue losses in the federal budget for 2025-26.
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