Browsing: Business

The Pakistani rupee saw its third consecutive day of improvement against the US Dollar, closing at 285.17. Additionally, Pakistan and Kuwait signed seven agreements to attract significant investments, spanning crucial sectors like agriculture, power, water supplies, mining, technology zones, and mangrove preservation.

InfraZamin Pakistan and Kashf Foundation’s successful closure of South Asia’s first ‘Gender Bond,’ raising Rs. 2.5 billion, marks a significant stride in empowering 30,000 women from low-income backgrounds for entrepreneurial pursuits and micro-infrastructure development, contributing to Pakistan’s economic growth.

The Federal Board of Revenue (FBR) surpassed its November 2023 tax collection target with Rs. 736 billion, demonstrating a 38 percent growth. Over the first five months, FBR collected Rs. 3,484 billion, exceeding the set target despite a 54 percent rise in refunds and issuing three million tax notices to non-filers for improved compliance.

Tetra Pak Pakistan collaborates with WWF for the sixth year to educate 10,000 students across 50 schools on sustainability through engaging activities and recycling initiatives, fostering environmental responsibility from a young age.

The Pakistani rupee showed resilience by gaining 13 paisas against the US Dollar for the second consecutive day, closing at 285.39. Amid broader depreciation trends since January 2023, discussions with the IMF are in progress to formulate a new bailout program, recognizing Pakistan’s current economic challenges.

Pakistan’s interim government is set to slash petrol and diesel prices by up to Rs20 per litre in early December, responding to the recent decline in global oil prices. This move aims to alleviate inflationary pressures on the public, offering relief amidst economic challenges.

Nestlé Pakistan was honored at the SDPI Sustainability Awards for empowering rural women and implementing Smart Soil Moisture Sensors, demonstrating a commitment to gender equity and sustainable agriculture. These initiatives align with Nestlé’s broader goal of environmental responsibility and sustainability.

Costa Coffee, in collaboration with Gerry’s Group, unveils its third store in Islamabad, Pakistan, promising a rich coffee experience and inviting ambiance for the diverse community. The grand opening event, attended by notable figures, emphasizes the brand’s commitment to elevating coffee culture in the heart of the capital.

Honda has unveiled its electric scooter ‘BENLEY e’ in Pakistan, focusing on test marketing for organizational fleets before a potential public release in about a year, with an anticipated price of Rs. 900,000. The move signals Honda’s entry into the country’s evolving electric vehicle market.

The Pakistan Stock Exchange surged by over 470 points, breaking the 61,000-point barrier, fueled by positive factors like a successful IMF review and expectations of a rate cut, while the Pakistani currency faces pressure from import payments.