Browsing: Business

Farhan Faridi, Group Head at Jubilee Life Insurance, was honored with the Top 25 Companies Award by the Pakistan Stock Exchange for the fourth time. Jubilee Life’s consistent financial excellence and dedication to CSR initiatives set it apart as the sole insurance company recognized this year.

Daraz and NAVTTC have forged a groundbreaking partnership to empower aspiring entrepreneurs in Pakistan. With Daraz’s tailored e-commerce curriculum, students can embark on online ventures, marking a significant stride in fostering digital entrepreneurship.

The Pakistani rupee showed resilience, closing at 283.26 against the US Dollar after gaining 25 paisas in the fourth consecutive positive session. With State Bank reserves reaching $7.041 billion, investor confidence is bolstered ahead of the upcoming IMF Executive Board meeting on January 11.

The Pakistani government has reduced petrol and diesel prices to ease the burden on consumers amid a 43% year-on-year inflation rise. Petrol now costs Rs. 267.34 per liter, and diesel is priced at Rs. 276.21, effective from December 16.

Pure Health, the Middle East’s largest healthcare platform, has raised an impressive $986 million in an oversubscribed IPO on the Abu Dhabi Securities Exchange, reflecting strong investor confidence. With a fixed price of AED 3.26 per share, the offering’s success is set to propel Pure Health’s market capitalization to AED 36.2 billion, with the founders retaining a substantial 90 percent stake.

The Pakistani Rupee strengthened against the US Dollar for a second day, closing at 283.61, while the State Bank of Pakistan opted to keep the policy rate unchanged at 22%.

Qist Bazaar celebrates a milestone with 2 billion in sales, reflecting accelerated growth in 8 months and a significant impact on Pakistani lives through accessible essential products and ethical business practices. CEO Arif Lakhani emphasizes the platform’s joy in serving the unique needs of the average Pakistani.

As international petrol prices decrease by $5.49 per barrel, Pakistan’s caretaker government is expected to bring relief to the public with a potential Rs13 per litre reduction in petrol prices. If implemented, the new rates would be Rs268.34 per litre for petrol and Rs274.79 per litre for diesel.

HBL was honored as the “Leading Remittance Mobilizing Bank of Pakistan” at the 3rd Pakistan Remittance Summit for channeling over $2 billion in FY2023. Khaqan Mohammed Khan highlighted HBL’s dedication to providing secure and affordable remittance services to support the Pakistani economy.

Mari Petroleum (PSX: MARI) has entered the billion-dollar club on the Pakistan Stock Exchange, reflecting the dynamic growth in the country’s stock market. This achievement comes as part of a significant expansion, with the number of companies exceeding $1 billion market value increasing from two to seven in just five months.