The Saudi National Bank (SNB), the majority shareholder of Samba Bank Limited, has received an offer from Najd Gateway Holding Company to acquire SNB’s entire shareholding in Samba Bank Pakistan, representing approximately 84.51% of the bank’s issued shares. Samba disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “The Saudi National Bank (SNB), as the majo
In yet another volatile session, the Pakistan Stock Exchange (PSX) on Wednesday experienced a broad-based decline as investors remained cautious, which pulled the benchmark KSE-100 index down by nearly 1,500 points. In the morning, the market opened on a positive note, which briefly lifted the index, but early gains evaporated when investors trimmed their positions in the absence of positive tr
Positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 index gaining nearly 300 points during the opening minutes of trading on Thursday. At 9:45am, the benchmark index was hovering at 166,416.18, an increase of 270.84 points or 0.16 percent. Across-the-board buying was observed in key sectors, including commercial banks, cement, fertilizer, oil and gas
The Universal Service Fund (USF) is poised to achieve a major milestone under the prime minister's Digital Pakistan vision with the approval of nine new telecom projects valuing at Rs13.05 billion. These projects are set to provide high-speed internet and voice services to 5.55 million un-served and underserved residents across 178 towns/union councils and 753 mauzas of 11 districts across the
The struggle of Pakistan's financial managers to achieve revenue targets for the current fiscal year has once again come under the spotlight, with early data pointing to a widening gap between projected collections and actual performance. The first quarter of fiscal year 2025-26 has already revealed a shortfall of nearly Rs200 billion, indicating deeper structural problems in the tax system at