Category Archives: Finance

FDI sharply increases by 162.8pc in July 2017

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KARACHI: Foreign Direct Investment (FDI) has registered massive growth of 162.8 percent in July 2017 to $222.6 million as compared with $84.7 million in the same month of last year, according to foreign investment data released by State Bank of Pakistan (SBP) on Wednesday.

SBP discontinues requirement of monthly foreign exchange returns

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KARACHI: State Bank of Pakistan (SBP) has discontinued the requirement of monthly foreign exchange returns for banks. However, the financial institution shall submit hard copies of Export Forms and details of advance export payment manually.

SECP extends date to Sept 30 for providing information of shareholders having interest in foreign companies

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has extended the deadline to September 30, 2017 for companies for providing information of shareholders having interest in foreign companies.

SBP issue procedure for processing 300,000MT sugar export

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KARACHI: State Bank of Pakistan (SBP) has laid down procedure for banks to process the cases for export of 300,000 metric tons sugar.

Trade deficit widens by 55.46pc in first month of 2017/2018

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ISLAMABAD: Pakistan’s balance of trade started with deficit of $3.2 billion in the first month of 2017/2018, which was higher 55.46 percent when compared with the same month of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Thursday.

Remittances grow by 16pc in July 2017

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KARACHI: Remittances sent home by overseas Pakistanis have registered 16 percent growth in the first month of current fiscal year. The overseas Pakistani workers remitted $1.541 billion in the first month (July) of 2017/2018 as compared with $1.328 billion received during the same month in the preceding year, State Bank of Pakistan (SBP) said on Thursday.

SBP facilitates in claiming payment for defaced prize bonds

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KARACHI: State Bank of Pakistan (SBP) on has facilitated the general public to claim payment of face value of mutilated or defaced prize bonds.

Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 notified

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) after due process of law including comprehensive consultation with the stakeholders and taking into consideration the objections and suggestion has notified Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. These Regulations have replaced Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008.

Petrol, diesel prices reduces with approval of new prime minister

ISLAMABAD: The government has announced reduction in petroleum prices to be applicable from August 06, 2017. Finance Minister Senator Mohammad Ishaq Dar on Saturday announced price of petrol will be decreased by Rs.1.80/ litre and price of diesel will be decreased by Rs.2.50/ litre.

SECP amends regulations for non-banking finance companies

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has amended regulations regarding Non-Banking Finance Companies (NBFC) through SRO 756(I)/2017 issued on Friday.