Browsing: Business

Pakistan’s IT industry reports an impressive 11.66% YoY surge in November’s service exports to $259 million, reflecting substantial growth attributed to government policies. With a commitment to reaching $10 billion in IT exports, the focus on reducing import dependence signals a positive trajectory for the domestic IT sector.

BankIslami Pakistan’s ‘Graduate Trainee Officer’ Program presents an exciting opportunity for fresh graduates, offering stable careers, attractive benefits, and an inclusive working environment. Applications are welcome until December 24, 2023, providing aspiring candidates a chance to embark on a promising journey with the esteemed bank.

Pakistan’s food exports have surged to $2.64 billion in the first five months of FY2023-24, led by a robust 60.6% YoY growth in November. Rice exports played a significant role, reaching $1.12 billion, contributing to the overall positive trend in the country’s agricultural exports.

The Pakistani rupee continued its winning streak against the US Dollar for the ninth day, closing at 282.53 after opening at 283. However, it faced depreciation against other major currencies in the interbank market, losing ground to the Canadian Dollar, Australian Dollar, Euro, and British Pound.

Seres captivates EV enthusiasts in Pakistan with a significant price reduction for the Seres 3 EV, now priced at Rs. 8,390,000. This move, effective from December 20, 2023, underscores the company’s dedication to sustainable mobility and showcases impressive features, making eco-friendly driving more accessible.

Health-tech startup Sehat Kahani, founded by doctors Dr. Sara Saeed Khurram and Dr. Iffat Zafar Aga, secured $2.7 million in a Series A funding round led by Amaanah Circle. The platform, offering seamless virtual connections between doctors and patients, plans to use the funds to enhance features, including AI tools, and expand globally after experiencing a 141% average year-on-year growth in the last three years.

The Pakistani rupee extended its strengthening streak, opening at 280 and reaching 279 against the US Dollar during intraday trade. Closing at 282.79, it gained 11 paisas, backed by stable trades and a minor decline in global crude prices impacting the US Dollar.

To tackle pollution, Punjab’s government and a private company have introduced electric rickshaws with a range of up to 150 kilometers per charge, providing an eco-friendly transport solution. The initiative aims to curb environmental impact and promote cleaner commuting in the region.

Pakistan celebrates a significant boost in agricultural exports to China as the interim Minister of Commerce announces the first shipment of dried chillies, marking a pivotal moment in trade relations with potential exports exceeding $20 billion in the near future. The minister urges exporters to prioritize quality standards and productivity for sustained success in the Chinese market.

The Pakistani rupee continued its positive streak, closing at 283.01 against the US Dollar, while worries linger over the World Bank’s forecast of declining remittances due to economic challenges and a shift to informal channels.