One of the country’s largest payment gateways has denied reports, circulating on social media, that ATMs will remain closed for two to three days due to a cyberattack. The clarification from 1LINK Limited, a consortium of major banks that own and operate the largest representative inter-bank network in the country, was issued after a message started making rounds on social media and shared on W
The objective of incurring sovereign debt is to extricate a nation from existing crises and fund investments for growth and development. However, reliance on debt should be prudent and not excessive. When a nation fails to manage its debts effectively, it can enter a state of debt distress — a challenging and painful process. In such cases, the debt itself becomes a crisis, often exacerbating t
The Pakistan Stock Exchange (PSX) has shrugged off its downward slump on Thursday and surged by 667 points to reach 78,545 during intra-day trade. This marks a notable 0.85% rise from its previous close of 77,878 points. Ahead of the August 14 Independence Day holiday, the PSX fell over 100 points in a range-bound session on Tuesday, marked by growing political uncertainty and economic concerns
Despite mounting political tensions and economic uncertainty, including growing risks to the digital economy due to internet disruptions, the stock market on Thursday showed remarkable resilience as equity investors remained busy in cherry-picking amid a strong earnings outlook, tossing the index above 78,000. Ahsan Mehanti of Arif Habib Corporation said stocks showed recovery on high corporate
The Special Technology Zones Authority (STZA) has announced the creation of four new special technology zones (STZs), with an investment of Rs30 billion in infrastructure. The initiative aims to generate 50,000 jobs and boost IT exports by $350 million annually over the next two to four years. In a statement issued on Thursday, the authority revealed that the newly designated zones include the