Rates of profit on National Savings Schemes (NSS) have been revised with effect from Dec 10, reported Arif Habib Ltd on Monday. The government has reduced the profits on savings but the biggest cut was made on Savings Account by 250 basis points. The profit fell to 13.5pc from 16pc. The Regular Income profit was slightly reduced by 10bps to 12.1pc. However, the return on Serwa Islamic Saving
World oil prices jumped on Monday on fresh moves by China to boost its economy and as traders tracked an uncertain future for Syria and the wider crude-rich Middle East. Major stock markets diverged as investors reacted to political crises in South Korea and France, and tracked the perspectives for interest rate cuts. Gold, seen as a haven investment, gained around one per cent. “The week ha
Remittances sent by workers during the first five months (July-November) of the current fiscal year FY25 jumped 34 per cent, but fell last month compared to the preceding month. The latest data issued by the State Bank on Monday shows that remittances could reach the target of $35 billion set by the government for the current fiscal year. According to the State Bank, overseas Pakistanis sent
The United States is Pakistan’s indispensable partner as economic partnership between the two countries has been a cornerstone of the bilateral relationship, US Charge d’Affaires, Natalie Baker said on Monday. Addressing the fifth Pakistan-America Business Forum Summit, Mr Baker said Pakistan looks to move beyond the economic crisis and implement difficult but necessary structural economic re
Finance Minister Muhammad Aurangzeb has directed accelerated efforts to finalise the proposed policy framework to connect philanthropic contributions with the underserved segments of society. The minister issued the direction while chairing a meeting of the Prime Minister’s Committee on Social Impact Financing at the Finance Division on Monday. The session focused on advancing innovative financ