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The Pakistani rupee extended its winning streak for the fifth day against the US Dollar, starting at 281 and closing at 283.21 in the interbank market. Despite minor fluctuations, the rupee exhibited strength, gaining approximately Rs. 1 intraday and showing resilience against other major currencies.

Pakistan borrowed $4.285 billion in the first five months of the fiscal year 2023-24, witnessing a 16% reduction from the previous year. Notable contributions came from Saudi Arabia, and while the IMF and other inflows were not reflected in the reported data, the total reached $6.485 billion, including funds for specific projects from China and other countries.

Pakistan’s petroleum production grew by 7.55% from July to October 2023-24, with high-speed diesel and furnace oil witnessing notable increases. However, jet fuel oil recorded a 13.02% decline during the same period, according to the Pakistan Bureau of Statistics.

Lahore’s first female Chief Traffic Officer, Ammara Athar, is launching dedicated driving centers for women to address challenges and boost confidence, fostering safer and more independent road navigation. The initiative aims to provide better training facilities and support for female learners in the city.

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%.