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Digital banking start-up YAP raises $41 mln, to expand into Saudi Arabia and Pakistan

Digital banking start-up YAP raises $41 mln, to expand into Saudi Arabia and Pakistan

Dubai July 6 2022: YAP, a digital bank in the United Arab Emirates, said on Monday it had raised $41...

‘This Is a Recession Trade’: Stocks, Yields, Oil All Decline

‘This Is a Recession Trade’: Stocks, Yields, Oil All Decline

New York July 6 2022: As US equities start the week coming off their worst first half since 1970, there’s...

mlcf

Maple Leaf Cement completes buy back of its shares

Karachi July 6 2022: Maple Leaf Cement Factory Limited (MLCF) informed that the approved quantum of the purchase/buy-back of 25,000,000...

Auto assemblers and Electrical equipment importers need prior SBP permission for imports

Customers to face more delays as SBP made mandatory for car manufacturers to seek prior permission for imports

Karachi July 6 2022: SBP adds Auto Assemblers to the list of goods for which Authorized Dealers are required to...

Auto assemblers and Electrical equipment importers need prior SBP permission for imports Karachi July 6 2022: SBP adds Auto Assemblers to the list of goods for which Authorized Dealers are required to seek prior permission from Foreign Exchange Operations Department (FEOD), SBP-BSC for initiating the import transaction. Henceforth, Authorized Dealers shall be required to seek prior permission from FEOD, SBP-BSC before initiating transactions for import of CKD for Motor Cars. Authorized Dealers are advised to bring the same to the knowledge of all the concerned and ensure meticulous compliance of the above & other applicable regulations on the subject. Authorized Dealers are especially instructed to bring these instructions to the knowledge of their customers and advise them to approach the bank before initiation of import transaction of any item covered under this circular letter.

Overseas Pakistani repatriated $800 million from Roshan Digital Account

Karachi July 6 2022: Roshan Digital Account inflows increased to a 3 month high of $250mn in June, up 32%...

Pakistan to receive more monsoon rains during this week; cause urban flooding, landslides

Pakistan to receive more monsoon rains during this week; cause urban flooding, landslides

Islamabad July 6 2022: Pakistan Meteorological Department (PMD) has forecast more monsoon rains in the country during this week that...

Big relief for Banks as SBP extend implementation of IFRS 9 by a year

Big relief for Banks as SBP extend implementation of IFRS 9 by a year

Karachi July 6 2022: State Bank of Pakistan decided to extend the implementation date of IFRS 9 by a year...

Global Corporate Debt Burden Shows Rare Decline as Costs Surge: Bloomberg

Global Corporate Debt Burden Shows Rare Decline as Costs Surge: Bloomberg

New York July 6 2022: Companies’ global debt load is declining for the first time in eight years as the...

Oil Steadies Above $100 After Plunging on Recession Concerns

Oil Steadies Above $100 After Plunging on Recession Concerns

Singapore July 6 2022: Oil steadied above $100 a barrel in early Asian trading after plunging more than 8% to...

British High Commission resumes visa service for Pakistan: Christian Turner

Islamabad July 5 2022: Christian Turner,British High Commissioner to Pakistan, on Tuesday announced resuming visa service for people of Pakistan...

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