Banking in Pakistan flourished during the first half of the calendar year 2022; both assets and income noted a strong increase while the balance sheet of banks expanded by 16 per cent over the same period of last year. The State Bank issued a “mid-year performance review” (MYPR) of the banking sector for 2022 on Monday. The review covers the performance and soundness of the banking sector fo
Universal Network Systems Ltd (UNSL) — a logistics firm operating under the brand name of BlueEX — said on Monday an unnamed fintech has offered to buy a 20 per cent stake in the company. The transaction size would be around Rs300 million if the deal took place at the prevailing share price of Rs55 apiece. The company is currently valued at a little over Rs1.5 billion. Speaking to Dawn, UNSL
After resisting for weeks, the government has finally made up its mind to allow the export of sugar to facilitate millers and sugarcane farmers in depleting old stocks and speed up fresh crushing. Informed sources told Dawn that a formal decision on the exact export quantities and the related mechanism would be taken at back-to-back meetings of the Sugar Advisory Board (SAB) and the Economic Co
Pakistan’s junior oil minister and the petroleum secretary have flown to Russia for talks on issues including oil and gas supplies, two people close to the matter told Reuters on condition of anonymity. The trip comes as the South Asian nation struggles to meet domestic gas supply needs as winter approaches while battling to contain a current account deficit swelled by energy payments, mostly f
Amid time running out, the International Monetary Fund (IMF) is still analysing Pakistan’s fiscal position particularly the flood-related expenditures that it viewed had changed the macroeconomic assumptions of the fund programme. The “IMF understands that the floods have changed the macroeconomic assumptions on which the programme was designed; therefore detailed analysis is being conducted by