The State Bank of Pakistan (SBP) has partnered with the World Bank Group, through its private sector arm, the International Finance Corporation (IFC), to expand local currency financing and support private sector growth in Pakistan. Through an International Swaps and Derivatives Association (ISDA) agreement, the partnership will enable IFC to manage currency risks more effectively and increase
Gold prices in Pakistan decreased on Saturday in line with their loss in the international market. In the local market, gold price per tola reached Rs444,900 after a decline of Rs1,400 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs382,630 after it lost Rs1,200. On Saturday, gold price per tola reached Rs
Amazon’s cloud services unit AWS was hit by an outage on Monday, causing connectivity issues for many companies around the world and disrupting services for several popular websites and apps including Fortnite and Snapchat. “We can confirm increased error rates and latencies for multiple AWS Services in the US-EAST-1 Region,” AWS said in an update on its status page. AI startup Perplexity, c
Prime Minister Muhammad Shahbaz Sharif has directed the Power Division to formulate comprehensive and effective policy recommendations aimed at boosting the country’s industrial production through efficient utilisation of electricity resources. The prime minister gave the directives while chairing a review meeting on Power Division’s reform package for the industry and agriculture sector, read
Volatility was observed at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 Index losing over 300 points during the trading opening hours. At 10:25am, the benchmark index was hovering at 164,096.19, a decrease of 348.52 points or 0.21%. Selling was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs