KARACHI: Dubai Islamic Bank PJSC (DIB), the largest lender in the United Arab Emirates, has finalized a $1 billion syndicated term finance facility with the Government of Pakistan, a deal signaling fresh confidence in the country’s economic rebound and boosting the global reach of Shariah-compliant funding.
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Pakistan’s remittance inflows hit record $38.3 billion in FY25
KARACHI: Pakistan’s inflow of overseas workers’ remittances surged to a record $38.3 billion in fiscal year 2024-25, a 27% jump from the previous year, offering a lifeline to the nation’s economy as it navigates persistent challenges, data from the State Bank of Pakistan (SBP) showed on Wednesday.
Pakistan’s central bank to launch digital currency pilot, finalises crypto rules
KARACHI: Pakistan’s central bank is preparing to launch a pilot for a digital currency and is finalising legislation to regulate virtual assets, as the government accelerates efforts to modernise the country’s financial system amid a global wave of interest in blockchain-based payments.
Pakistan approves 500,000T sugar imports to tame skyrocketing prices after export boom
ISLAMABAD: Pakistan has approved the import of 500,000 tonnes of sugar to tackle a domestic shortage and stabilise skyrocketing prices, a move that comes after a massive export boom left local supplies depleted and consumers facing a 36 percent price hike.
Pakistan approves four bidders for stake in debt-laden PIA
ISLAMABAD: Pakistan has cleared four parties, including prominent business groups and a military-backed conglomerate, to bid for a controlling stake in Pakistan International Airlines (PIA), advancing a high-stakes privatization tied to a $7 billion International Monetary Fund bailout.
Islamabad court blocks 27 YouTube channels tied to opposition PTI party, journalists under cybercrime law
ISLAMABAD: An Islamabad court has ordered the blocking of 27 YouTube channels, including those linked to Pakistan’s main opposition party and prominent journalists and political commentators, for allegedly spreading anti-state propaganda and false information, heightening concerns over freedom of expression in the country.
Pakistan launches virtual assets regulator to boost digital economy
ISLAMABAD: Pakistan has formally established the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee its rapidly expanding digital assets sector, a move aimed at aligning the country’s regulatory framework with international standards and attracting foreign investment.
Pakistan faces deadly monsoon rains as death toll climbs to 79
ISLAMABAD: Pakistan is reeling from catastrophic floods triggered by relentless monsoon rains, with the death toll rising to 79 and authorities bracing for more rainfall that could worsen the crisis in the coming days.
Sindh suspends building authority head after deadly collapse in Karachi
KARACHI: Sindh province’s chief minister suspended the head of the building control authority on Monday after a five-story building collapsed in Karachi, killing 27 people, as the government confronted growing accusations of negligence tied to the disaster.
Pakistan accelerates debt retirements, cuts debt‑to‑GDP to 69 percent in FY25
KARACHI: The government has retired Rs1.5 trillion in public debt ahead of schedule in fiscal year 2025, a move that slashed the debt-to-GDP ratio to 69% from 75% in FY23 and saved Rs 830 billion in interest costs.