KARACHI: Pakistan’s US dollar-denominated Eurobonds and Sukuks staged an outstanding rally in global markets on Wednesday in the wake of ending the political deadlock over the formation of the government in the centre, outperforming emerging-market peers on the day. According to the data compiled and reported by JS Global Research, Pakistan’s foreign bonds spiked in the range of 1-6% on the day
ISLAMABAD: The federal government has decided to hire a new head of Pakistan’s Export-Import (Exim) bank amid a disclosure of discrepancy in the age of the incumbent president, which should have made him ineligible for the appointment four years ago. Sources in the Ministry of Finance told The Express Tribune that a decision has been made to expedite the process for the appointment of the chief
KARACHI: The US dollar appreciated by 21 paise to Rs279.57 against the rupee in the interbank market on Tuesday. The exchange rate has been stable for over two months with support from the State Bank of Pakistan which restricted imports. The market perception of the exchange rate is not as positive as it looks. Currency experts believe that the stable exchange rate is an outcome of a SBP’s s
KARACHI: The United Bank Ltd (UBL) on Wednesday announced a 75 per cent surge in its profit-after-tax (PAT) to Rs55.145bn in 2023 compared to Rs31.535bn in 2022. The bank also announced that the PAT for 4QCY23 depicted an increase of 3pc year-on-year to Rs13.5bn. UBL announced a final dividend of Rs11 per share. SPL income surges 122pc The profit of Security Paper Ltd (SPL) surged by 122pc R
KARACHI: State Bank of Pakistan (SBP) Deputy Governor Saleem Ullah on Wednesday emphasised the need for a rapid shift towards Islamic banking. Speaking at the 2nd National Islamic Economic Forum, organised by Saylani Welfare International Trust and Darul Uloom Memon on Wednesday, the SBP deputy chief said that the interest-based banking system is unjust, calling on banks to focus on wealth cr