Pakistan on Wednesday reinforced contingency plans to ensure operational resilience and secure communication lines across financial institutions following Indian attacks and the subsequent stock market dip. The Pakistani military brought down five Indian jets in retaliation for late-night strikes launched by its neighbouring country at six sites in Punjab and Azad Jammu and Kashmir. The plan
Business relations between Pakistan and Germany are gradually improving, said German Consul General Rüdiger Lotz at an event held at the consulate on Tuesday. In the last six months, five new companies from Germany have entered Pakistan, noted Florian Walther, the Pakistan representative at the German Emirati Joint Council for Industry and Commerce. “The level of interest I’ve seen around tra
Pakistan has enacted a 60-day ban on importing and exporting precious metals, jewellery, and gemstones to stabilise its foreign exchange reserves. The temporary ban was imposed by a Commerce Ministry Order suspending SRO760 of 2013, which governs the trade of precious metals. The restriction is linked to the recent impasse with India as a potential strategy to limit the flow of metals. Gold
SHARES of Chinese defence-manufacturing companies rallied on Wednesday, as the escalation in border tensions between India and Pakistan boosted the outlook for mainland exporters, Bloomberg reported. Pakistan, which has imported a bulk of the defence equipment including J-10C fighter jets, claimed to have shot down five Indian planes, including a French Rafale jet. This led to speculation that
Amid heightened tensions with India, the State Bank of Pakistan has asked banks to closely monitor dollar outflows, as the escalating conflict could rapidly increase demand for the greenback. However, currency dealers in both the inter-bank and open markets said there was no panic buying of dollars, nor had demand escalated. According to a currency dealer, over 90 per cent of remittances to