Foreign Exchange - 5

United Arab Emirates is among top order lists of countries who are pouring net inflow of direct or private investment worth millions of dollars in Pakistan to explore the investment possibilities in power generation, automobile, housing, construction, cement, food processing and dairy sectors of Pakistan. The total FDI from UAE stood at $12 million while [...]

Research and Markets has announced the addition of Prospects for the Textile and Clothing Industry in Pakistan to their offering. The aim is to make Pakistan one of Asia’s top five textile and clothing exporting nations. At present it ranks eighth. Pakistan’s role as one of the world’s leading cotton producers has provided the basis [...]

The purpose of this conference is to provide the Pakistani businessmen, entrepreneur, bankers, IT professionals and investors with an opportunity to listen and analyse the success stories of the international leaders in the field of international call centers.

Overseas Pakistanis sent back home $1.946 billion in the first half of this fiscal year, up from $1.874 billion they had sent in a year-ago period, according to data released by State Bank of Pakistan. This suggests that remittances from expatriate Pakistanis may touch $4 billion during this fiscal year ending in June. But these [...]

A three-year bull run in the Pakistani stock market has encouraged local asset managers to launch the first batch of capital guaranteed mutual funds to draw retail investors. United Asset Management Co., a unit of United Bank Ltd., the country’s fourth biggest bank, plans to launch a closed-end three-year fund in the first half of [...]

A cabinet committee on Friday approved the designs of Rs20 and Rs5,000 denomination currency notes. The cabinet committee on design of currency notes met here with Prime Minister Shaukat Aziz in the chair. According to an official handout, the designs were presented to the committee by the chairman of the Printing Corporation of Pakistan. The [...]

At the end of November 2004, all local and foreign banks working in Pakistan had $3 billion fresh foreign currency deposits i.e. those generated afresh after the freezing of $11 billion deposits in May 1998 when the country had gone nuclear. Data released by the State Bank show that the stock of fresh foreign currency [...]

Pakistan received an amount of $1609.76 million as workers’ remittances during the first five months of the current fiscal year from July to November 2004, as against $1488.08 million received in the corresponding period of the last fiscal year, registering an increase of $121.68 million or 8.18 per cent. During last month, workers remitted an [...]

The KSE 100-share index on Monday finished at an all-time high of 5,633.13 amid heavy buying boosted by the perception of more close ties with the US after the president’s visit. More than one positive developments, the president’s meeting with Bush and year-end considerations seem to have triggered buy stops on selected counters, although negative [...]

Corporate sector received the largest chunk of 54 per cent of the total credit extended by the financial sector in 2003, followed by small and medium enterprises or SMEs that received 19 per cent. According to a report titled Pakistan: Financial Sector Assessment 2003, agriculture and consumer finance sectors each received about 8 per cent [...]