The International Monetary Fund (IMF) has granted partial permission for a 2% decrease in withholding tax on property transactions, in response to a request by the Federal Board of Revenue. The adjustment, which will take effect in April 2025, is intended to enhance real estate company activity. However, the withholdingRead More →
According to Pasar Digital on Sunday, the Security and Exchange Commission of Pakistan (SECP) registered 3,046 new businesses in February 2025, bringing the total to 2,46,608 businesses.Using the digital platform, 99.9% of new businesses were registered by SECP.According to recent data, 38% of businesses were registered as single members, whileRead More →
ISLAMABAD (PASAR) – Another new Malaysian airline has declared that it would begin flying operations in Pakistan, Dunya News reported on Thursday. The Pakistan Civil Aviation Authority (CAA) has given Airasia authorization to operate flights. Airasia will resume flights to Karachi on May 30. Initially, the business plans to operateRead More →
Mobilink Bank’s parent company, VEON Group, has invested $15 million in new capital to support the bank’s strategic initiatives, which include expanding financing for micro, small, and medium-sized enterprises (MSMEs), exploring Islamic banking services, and accelerating the bank’s transition to a digital-first model. Mobilink Bank said in a statement thatRead More →
BEIJING – (Reuters) According to public documents, China’s state-backed chip investment fund invested 14.56 billion yuan ($1.99 billion) in Changxin Xinqiao, a memory chip business. According to an Oct. 26 update to the company’s registration information on the National Enterprise Credit Information Publicity System (NECIPS), the China Integrated Circuit IndustryRead More →
NEW YORK (Reuters) Tuesday saw a decline in the value of some US banks’ shares after S&P Global and Moody’s both lowered the credit ratings of a few regional lenders with significant exposure to the commercial real estate (CRE) market. A banking sector trying to emerge from a crisis earlierRead More →
ISLAMABAD : The bilateral commerce between Pakistan and the United Arab Emirates is anticipated to double from the $10.6 billion volume attained in 2021–2022, according to Faisal Niaz Tirmizi, Pakistan’s ambassador to the UAE. He said, “The potential is far bigger,” while speaking to an Emirates News Agency. The politicalRead More →
Khyber-Pakhtunkhwa Water Resources Development Project has been given the Asian Development Bank’s (ADB) approval, and $3.60 million in concessional ordinary capital resources financing has been provided. According to the project documentation, the Pakistani government asked the ADB for Project Readiness Financing (PRF) to get the Khyber-Pakhtunkhwa Water Resources Development ProjectRead More →
Salman Iqbal, the owner of the ARY Group, has emerged as an aspirational investor in the loss-making Summit Bank.After rescinding his proposal to invest in the telecom industry, which eventually ended after lengthy discussions between ARY and WorldCall, the broadcaster has chosen to try his luck in the banking sector.Read More →
The National Bank of Pakistan (NBP) Board of Directors met to discuss the bank’s financial performance and approved the condensed interim financial statements for the three months ending March 31, 2022.As the most profitable bank, the National Bank of Pakistan has surpassed United Bank Limited and HBL. As a result,Read More →