Moody’s Investors Service on Thursday changed its outlook on Pakistan’s banking sector from “negative” to “stable” citing its solid profitability, stable funding and liquidity, which it said “provide an adequate buffer’ to withstand the country’s macroeconomic challenges and political turmoil. The international rating agency — one of the top three global rating firms — said that the economic an
ISLAMABAD: The Competition Commission of Pakistan (CCP) has warned influencers, content creators and advertisers against making false and misleading endorsements while advertising different products or services at various platforms. Similarly, it advised the consumers to remain vigilant and report any instances of deceptive advertising to the commission. The watchdog said it would take strict a
KARACHI: SITE Association of Industry (SAI) President Muhammad Kamran Arbi has said low gas pressure (almost zero supply) is making it impossible for the industries to run boilers, furnaces or other gas-run machinery installed. In a letter to Sui Southern Gas Company Ltd Managing Director Imran Maniar, the SAI chief said the problem of low gas pressure has persisted for the past many years sin
KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) experienced a further decline of $54 million during a week, exacerbating the vulnerability of the exchange rate. This marks the second consecutive drop in the central bank’s reserves, with a $63m decrease reported last week, highlighting imbalances in the outflows and inflows of dollars. The SBP regularly purchases do
ISLAMABAD: Pakistan’s trade deficit with the Middle East narrowed 41.31 per cent to $5.674 billion in the first seven months of the current fiscal year mainly due to low imports of petroleum products from the region. In absolute terms, the value of Pakistan’s exports to the Middle East rose 36.18pc to $1.769bn between July and January 2023-24 while imports dipped 31.69pc to $7.443bn, showing a