Despite record remittances of $38.3 billion in FY25, the government has decided to reduce the reward paid to banks and exchange companies facilitating overseas inflows through official channels, the State Bank of Pakistan (SBP) informed the Senate Standing Committee on Finance on Wednesday. SBP Deputy Governor Inayat Hussain told the committee that the reward structure — previously set at 20, 2
The government announced a two-phase plan on Wednesday to import 350,000 tonnes of sugar through the Trading Corporation of Pakistan (TCP), aiming to stabilise domestic prices and ensure the availability of affordable, quality sugar. The decision was taken during a meeting of the Steering Committee on Sugar Import, chaired by Minister for National Food Security and Research Rana Tanveer Hussain
In a renewed push to diversify funding sources and tap into China’s vast capital market, a Ministry of Finance team is holding high-level meetings in Beijing this week to attract investment for Pakistan’s debut Panda Bond issuance. The outreach comes as Dubai Islamic Bank (DIB) has successfully arranged a $1bn syndicated loan for Pakistan, partially backed by the Asian Development Bank — the fi
The purchase of physical assets was eclipsed last year by a surge in investment in intangible items like software, data and AI, the UN said on Wednesday, describing a “fundamental shift in how economies grow and compete”. Investment in intellectual property-backed assets grew three times faster in 2024 than investments in physical objects like machinery and buildings, which have been hit by hig
Wall Street’s main indexes climbed higher on Wednesday, with Nvidia soaring to a $4 trillion valuation, while investors shrugged off President Donald Trump’s latest tariff salvo. Nvidia rose 2.2 per cent to become the first company to ever hit $4 trillion in market value, solidifying its position as one of Wall Street’s most-favoured stocks to tap in the ongoing surge in demand for artificial i