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The Pakistani rupee reversed Friday's gains against the US Dollar after opening trade at 278 in the interbank market. It was largely stable against the greenback and other major currencies today. The interbank rate stayed at 278.75 most of the day before closing at the same level. Open market rates…

Pakistan wants to sell a big chunk of its 25 percent stake in the Reko Diq mine in exchange for $1 billion cash. Saudis are fetching and look like serious contenders to get it in the next few months. Are we so cheap? 'This is a big mistake. Our national…

In an exciting development for Pakistan's first grassroots development program, 'Football Factory', which is known as one of the best academies in the country, has been invited to participate in a prestigious 12-day training camp hosted by Borussia Dortmund, a top-tier football club based in Germany. This opportunity marks a…

In a landmark development, the Pakistan Stock Exchange (PSX) has signed a collaborative understanding with LSEG (London Stock Exchange Group) on Environment, Social and Governance (ESG). Under this mutual understanding, both companies will work to develop a suite of standardized ESG data tools that can be used by PSX-listed companies…

The Foreign Direct Investment (FDI) in the country rose to $258 million in March 2024, up 52 percent over the FDI of $170 million in the same month of FY23. According to Arif Habib Limited (AHL), the net FDI inflows in March 2024 are the highest since June 2022 (21-month…

Attock Refinery Limited (PSX: ATRL) has shut down its main crude distillation unit with immediate effect, the company informed the main bourse on Monday. 'We wish to inform you that due to high stocks of diesel, we are forced to shut down the main crude distillation unit with immediate effect…

The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to take action against exporters, who are intentionally misusing unique user identifier (CNICs/ NTNs) of non-exporters under Pakistan Single Window (PSW) and web-based customs clearance system (WeBoc). The Complaint was filed in terms of Section 10(1) of…

The Federal Cabinet has approved multiple Memorandums of Understanding (MoUs) for enhancing cooperation with Iran, particularly in setting up a Worker's Welfare Fund and collaboration in the film industry, high-level sources told ProPakistani. Sources said the Federal Cabinet has approved separate summaries for circulation. President of Iran Ebrahim Raisi will…

The Competition Commission of Pakistan (CCP) has granted approval to the share acquisition of a Pakistani food company by four acquirers including a Singapore-based investment holding company. The approved transaction involves the acquisition of a 23.20% shareholding in M/s. Unity Foods Limited by the four acquirers. One of the acquirers…

The Securities and Exchange Commission of Pakistan (SECP) has officially registered The Bank of Punjab's (PSX: BOP) exchange company. 'We are now pleased to inform you that subsequent to the issuance of above referred NOC from the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has…

Pakistan's Real Effective Exchange Rate (REER) increased by 1.97 percentage points to 104.07 in March 2024, according to data released by the State Bank of Pakistan (SBP) on Monday. According to the latest monthly data released by the central bank, the trend indicates an increase from 102.10 recorded in February…